Beringea backs premium bike resale platform Cycle Exchange with a £2.4m injection.
"Cycle Exchange has quickly risen to be the UK’s leading resale platform for high-end bikes, driven by an uncompromising approach to ensuring bikes are refurbished to like new condition. This is reflected in their exceptional customer reviews and their partnerships with iconic brands such as Pinarello, Brompton, and British Cycling."
Sofina led the round with participation from Balderton Capital to support product development and market expansion.
"This round is a strong endorsement of our progress and our mission to modernise transport management. Since our Series A we’ve grown revenue, customers and team at an exceptional pace, while remaining highly capital efficient. The Series B funding allows us to continue investing and grow the team so that we can keep offering the same level of customer service."
The Cambridge startup secured backing from National Grid Partners and Gresham House Ventures to scale its distributed quantum computing architecture.
"When we launched seven years ago, very few were thinking about networked or distributed quantum computing as a strategy for scaling, but we saw it as one of the most urgent and challenging outstanding problems in the industry, and set out to solve it. We’ve made great strides in shaping the market and the technology since then."
The legal technology startup secured £5m in seed funding to accelerate product development and establish its headquarters in Newcastle.
"This investment gives us the momentum we need as we move towards launch. Our priority is to build a platform that meets the expectations of legal professionals who work with complex UK-specific legislation every day. They want tools that are reliable, trustworthy and ready for real-case use."