The Series C round was co-led by Target Global, RTP Global, and Autotech Ventures, bringing the company's total funding to £27.5m.
"The car market is one of the last retail categories that has yet to shift online, with online penetration of car sales being still below 1%, while 20% of all UK retail sales are now online. Drover’s digital ‘car-as-a-service’ model is the right approach to truly build the ‘Amazon of Cars’ as it lends itself much better to an online model than does the long-term commitment, high ticket size type transaction of buying a car with cash or on finance. As a result, the last few years have seen Drover evolve and grow into a seriouscontender in the UK car retailing market. The Drover team has been agile through COVID-19 and that has enabled us to continue to show fantastic growth in a challenging time. The need for a simpler, more flexible model for car ownership is only accelerating and we’re proud to be leading that journey in the UK and France and in hopefully many more markets in the future."
Draper Esprit led the Series C financing, with continued backing from Amadeus Capital Partners, BlackFin Tech, and Passion Capital.
"We have been very busy in the two years since our last funding round in 2018. Our approach to tackling fraud and risk for enterprise-scale businesses has resonated with the market and we’ve grown our client base rapidly"
The financing round was led by Pfizer Ventures and accompanied by pro-rata contributions from existing investors.
"Since our initial investment in Mission seven years ago, the company has grown tremendously and the depth of its scientific expertise and capability has grown alongside it. We are proud to expand our relationship with the company and our scientists are looking forward to a successful collaboration in this important area of research."
The biotechnology firm has raised £96m in new capital to advance its gene therapy pipeline and manufacturing capabilities.
"The potential of gene therapy to change patients’ lives has never been greater and we are delighted to have leading US and European biotechnology investors join us in this extended Series C financing,"
Global banking firm HSBC joined the Series C round with a strategic investment after four years as a customer.
"HSBC provided important feedback in the early days of our product development, and we’ve successfully expanded our relationship with the bank over the last four years as our platform has evolved. HSBC’s investment is indicative of the impact that we’ve had on their business, and the opportunity that exists for us to help data-driven organizations worldwide with sensitive data management and data privacy."
