The Series B round was led by Autodesk with backing from Lockheed Martin and British Patient Capital.
"When people think of manufacturing, they tend to think of robotic car factories, and don’t realise that the industry is dominated by craft processes reliant on dwindling expert knowledge. This makes it incredibly complex to get things made, stifling the pace of innovation,"
The financing round was led by Lytical Ventures with participation from Flashpoint and Sony Innovation Fund.
"We got pulled to the US market and saw a significant demand for our solution in the financial services sector. With this funding round we are increasing our sales and marketing efforts on the US and European markets. And we are also continuing to invest in our technical and product capabilities to automate compliance workflows and apply our data science models to the compliance content as one of the biggest challenges that heavily regulated firms are facing is keeping up with the volume of regulatory change."
Archangels has backed Earth Blox in a £1.5m seed round to support product development and market expansion.
"We are very pleased to secure this funding from Archangels and join a strong portfolio of businesses in the life sciences and tech sectors. Investment into innovative businesses like ours is vital to growth in all areas, from customer acquisition to building a great team. This investment will help us develop Earth Blox as a scalable SaaS and get the power of Earth observation insights into the hands of a range of users around the world."
The funding follows prior support from Maven and will establish a physical presence in Austin, Texas.
"In the four years we have worked with the senior management team at MirrorWeb we have been impressed by their ambition, the progress they have made in growing revenues, and the traction the Company’s novel technology has had within the market. MirrorWeb is well positioned to continue that growth, capitalising on the rising demand from organisations to have secure digital records of all electronic communications to meet their compliance and regulatory obligations. We are delighted to be providing the follow-on capital MirrorWeb requires to support its expansion into the lucrative US market."