The round was led by Indian members of the Cross Border Angels network.
"It was great working with Cross Border Angels on this round as we got access to Smart capital through their network, which is critical for us at this stage. These international investors will help us to leverage on their network, thus helping our venture roll out in the Indian subcontinent, one of the key focus geographies for Claned in 2016."
Mercia Fund Management backed the academic research platform in its first external funding round.
"This investment marks the next chapter in our business’s history, and heralds not only our expansion, but also the development of new and current core services for our university and company clients. We’re looking to maintain our traction, and are excited to excel expectations as we take our company overseas with our new partners at MFM."