Midven backed the Nottingham-based business through the Midlands Engine Investment Fund.
"We are absolutely delighted to have received this game-changing investment from Midven. The Lazy Flora family is a close-knit, passionate team, who have been dreaming big and taking decisive action for the past three years. We have the beginnings of a truly exceptional team and product and are so excited to now be able to execute the ambitious plans we have for the business."
The seed funding round was led by Samaipata with participation from Sova VC, Fuel Ventures, Tekton Ventures, and Eka Ventures.
"Geomiq is perfectly positioned at the forefront of a digital revolution within the manufacturing industry, and has an extremely talented and mission-driven team looking to solve a problem they faced personally as engineers. The team here at Samaipata are thrilled to support Geomiq on their quest to build the world's best and most sustainable manufacturing supply chain."
Maven Capital Partners led the Series A round with participation from Scottish Enterprise and existing backers.
"This investment is a game changer for us and really sets us up for our next big phase of growth. We have always taken a test and learn approach to our investments in growth and that has not only kept us in control of our destiny as shareholders but has carried us through some of the most testing times for businesses that we have ever seen. I am excited that in partnership with Maven we will be able to accelerate our growth and capitalise on the massive market opportunity"
West Hill Capital led the pre-Series A round, which will fund product development and US expansion.
"For too long, so many SMEs — representing 80% of the hospitality industry — have been excluded from the benefits of modern sales technology due to the unit economics and requisite technical expertise. We strongly believe there’s another way and our product offering and commercial model proves that. In a market worth $47bn, we’re providing an advanced sales platform and card processing solution at a cost below the most popular payment-only services."