The Birmingham startup has raised £500m in equity and debt through a partnership with a global private equity infrastructure firm.
"Following over a year of discussions, we’re thrilled to secure an offer of £500 million in Series A+ funding. This monumental achievement signifies not only our unwavering commitment to transforming transportation but also the remarkable growth and commercial success we’ve achieved alongside a strong pipeline. This substantial capital infusion will empower us to attract top-tier talent, further develop our partner ecosystem, and execute an ambitious M&A strategy, propelling our expansion on both domestic and international fronts to realise our collective aspirations and exceed investor expectations."
The financing round was led by 645 Ventures and 3VC, with additional participation from QED Investors, NfX, and i80 Group.
"We’re thrilled to announce the successful close of our Series A funding round, which will enable us to continue building and expanding our suite of e-commerce tools,"
The funding round was backed by ACF Investors to support product development and digital identification efforts.
"The investment from ACF Investors is a coming together of similar interests and visions. As the world increasingly becomes digital-first, we aim to minimise fraud, enhance online experiences, and make the world a safer place. ACF is our second institutional investment, and it is a vote of confidence in our efforts to make digital identification accessible and available to more UK citizens."
Playground Global led the Series A round to support the firm in achieving practical quantum advantage.
"For all the advances that have been made in quantum hardware, and for all quantum computing’s promise, such progress could end up being for nothing if we can’t build the applications needed to make the technology truly useful. With our record-breaking algorithms and groundbreaking techniques, we are pushing the boundaries of what is possible in this space. With support from such a renowned deep-tech visionary as Playground, we think practical quantum advantage is achievable in years, not decades."
