BGF provided the follow-on capital to support European expansion and further dealmaking.
"We have ambitious plans for growth and a strategy to add additional complementary acquisitions to our stable. We believe there’s still significant growth potential to expand into new markets, which we’re able to do with the funding and support provided by BGF."
The round was led by Merian Chrysalis Investment Company and Arts Alliance.
"There’s no two ways about it – the banks are failing businesses: they have failed to innovate, failed to integrate and, fundamentally, failed to provide SMEs with sufficient capital to grow,"
The round was led by Target Global and will support workforce growth and expansion across Europe.
"When we built Zego from scratch three years ago, our mission was to transform the insurance sector by creating products which truly reflected the rapidly changing world of transport"
National Grid Partners joined existing investors Cambridge Innovation Capital and IQ Capital in backing the sound recognition specialist.
"Our Series A round in 2017 raised $5.5m. Since then we’ve doubled the size of the company, licensed our technology to leading players and seen their products make a significant impact on the smart home market,"