The follow-on funding from BGF brings the company's total raised to £11.5m.
"This investment is a testament to the progress OSL has made since our initial collaboration with BGF. The infusion of £3.5 million is dedicated to continuing our trajectory of technological advancements and product development. Importantly, it enables us to invest in our most valuable asset—our people—creating job opportunities and reinforcing our commitment to excellence in business development."
The round was led by Buckley Ventures and will fund manufacturing and distribution scale-up.
"The most tedious process in biotech is growing human cells by hand. Every scientist needs to spend hours a day growing cells and coming in on weekends to look after them,"
The funding round was supported by existing backers Ada Ventures and Maersk alongside lenders HSBC and Blackrock.
"Despite a challenging fundraising environment, the latest investment round is a testament to the confidence our investors have in our long-term vision and strategy. Our team has worked incredibly hard over the last 12 months to maintain our growth trajectory despite a poor macro outlook for eCommerce, introducing new services, like introducing automation for Enterprise clients, to enhance our customers’ experience and sustain our mission to revolutionise, simplify and transform eCommerce fulfilment."
The funding will support the commercialisation of the firm's patented Wi-Fi audio technology.
"Steve brings the skillset and firsthand experience of generating demand in a very targeted manner which is critical to advance Fi-Live™ as we expand from being a product focused company in one niche to a broad technology provider"
The investment round was backed by private equity and angel investors to support platform expansion.
"I was attracted to the team's infectious energy and enthusiasm and the huge potential for growth for Maison Sport. Leisure activities on holiday are frequently treated as a checkbox or filter on a website, but they are often the purpose of the travel."