Praetura Ventures backed the Manchester retail technology start-up in a round earmarked for team expansion.
"As a team of former retailers, we’ve seen first-hand how the retail industry is advancing in many areas but falling behind when it comes to making data-driven decisions. We know how much potential there is for AI and machine learning to improve profits and reduce waste in retail, and we are thrilled to have Prateura join us on our mission to modernise merchandising and put data behind the important pricing and inventory decisions our users make every day."
The seed round was led by Join Capital with participation from Forward Partners and angel investors.
"Silico is on a mission to transform the way enterprises make decisions and I am delighted that Join Capital are joining us on this journey, alongside Forward Partners and our angel investors. They are already unlocking immense value in the business by providing us with access to key markets in mainland Europe and introducing us to new corporate customers. We have been privileged to have spent time getting to know the team at Join Capital; our values are fully aligned and we could not think of a better partner to work with as we embark on our next stage of growth."
The investment was led by Octopus Ventures with backing from Maven Capital Partners to build out digital private markets infrastructure.
"With investor demand at an all-time high, there is a lot of noise around how institutions overcome the traditional barriers to private markets. We’ve taken a different approach, creating white-labelled technology that acts as the digital building blocks on which firms can scale their propositions. The growth funding from Octopus Ventures validates this approach and strengthens our plan of stimulating greater connectivity between financial institutions, capital raisers and investors."
The funding will be used to triple headcount, forge new partnerships and expand coverage across the UK and Europe.
"The continued support and trust our existing and new shareholders have put into Bonnet brings a huge value-add to the team and will give us the advantage to become the number one charging product for EV drivers globally."
The Series A round will fund new platform features and support international user growth.
"Everyone has it in themselves to create something incredible. When we launched Uppbeat last year, it was all about giving everyone the freedom to express their creativity without the fear of losing out to copyright claims or having to pay for expensive subscriptions to music licensing platforms."
