The Northampton-based conversational assistant developer raised the capital from backers including Mercia and the Midlands Engine Investment Fund.
"This investment round represents a significant endorsement of our technology. The conversational AI market is very noisy with many big players. Our unique approach has made us the platform of choice for many global players and has allowed us to roll out our technology. This investment enables us to further establish ourselves in the market as a leading provider of conventional AI for enterprise and take the business to the next level."
The funding round was led by nChain and Cambridge Innovation Capital.
"Businesses have realised that advanced analytics and rapid innovation is the key to building competitive advantage in a data-driven world, so where billion row queries that took hours were once acceptable, the market now demands trillions of rows and speed-of-thought results. Aside from performance and scale, database technology needs to be built with the future of the connected world in mind – providing flexibility and cost predictability, even as the demands for big data continues to grow."
Mobeus Equity Partners has provided £3m in Series B funding to accelerate product innovation at Preservica.
"Mobeus supported the spin out of the original Preservica technology platform from its successfully exited portfolio company Tessella. Since 2016,we have partnered with Preservica to drive its international expansion and further technological development by providing an overall commitment of $12.8m (£10.0m). We continue to be impressed by the team’s progress against its core operating KPIs and believe the long term market drivers around privacy and governance make this a very exciting opportunity."
The funding round was led by Seraphim Capital and Opea Holding to support research and development and go-to-market efforts.
"We are so pleased that Seraphim Capital and Opea Holdings are continuing to invest in Bamboo with another strong show of support for our unique server architecture,"
The Series A round was led by Notion Capital with backing from Fitch Ventures and several angel investors.
"The need to digitise operational and non-financial risks is now more important than ever for the financial services sector, with the Covid-19 crisis shedding fresh light on the need for data to manage existing and emerging risks. We are seeing a collective desire from the industry for a solution built on collaboration and sharing of information and Acin’s approach is transformative in its ability to deliver this. This funding will enable us to accelerate our growth to meet the demand and needs of our clients."
