Maven Equity Finance backed the Cheshire PropTech company to support sales growth and new hiring.
"With an ever-increasing focus on ESG, IBG’s product offering will help building owners and operators to significantly reduce their energy use and support the drive to achieve net zero carbon buildings. John is an experienced CEO and we look forward to working with him and the team, to help drive the business forward."
The Leicester software firm has raised a further £1.3m from the MEIF Proof of Concept and Early Stage Fund, Mercia EIS Funds and angels.
"This investment is key to the next level of growth within our business. The next 12 months are going to be very exciting, seeing us reach other markets and geographies with a product that is always innovating for the good of our customers."
The funding will support production scale-up and market entry for the company's carbon-based agricultural biostimulants.
"We are thrilled with this new, exciting stage for Glaia. Many climate friendly technologies tackle the issue of emissions directly – but we decided to approach the problem from the other direction. What if we could improve current productivity without increasing the carbon footprint?"
The round was led by Samos VC and features a diverse group of female angel investors.
"Samos is attracted to exceptional founders looking to develop new consumer brands, where the mission is abundantly clear, and which have the potential to disrupt existing industries and upend the incumbents. With Jude, Peony ticked all these boxes."
The seed round was co-led by Eurazeo and Stride with backing from institutional and angel investors.
"Previously, businesses had to hire credit control specialists or give extra tasks to existing members of their team to manually monitor the payment dynamics of customers. An employee had to identify late payers, then prioritize, contact and follow up with individual clients to ensure late payments were received. This was not only time-consuming but also stressful for business owners and often prone to errors,"