The funding round was led by Moore Strategic Ventures with participation from existing shareholders.
"Working with the team at SME has been a great experience and the product does exactly what it says on the tin, it makes it easy. In an ever changing and more demanding media landscape we, as a media team, need to adapt quickly to new requirements and as a result, require tools and services that are flexible and easy to configure. The File Fabric has already proven its worth and with its simple API, it was easy to integrate into our facility."
Lunar Ventures and Techstart Ventures co-led the pre-seed round for the computer vision start-up.
"I want to thank our team for the hard work they’ve put in to get us where we are today. Like most companies, we’ve hit a rough patch at the start of the pandemic and we wouldn’t have made it without each and every individual contribution."
Green Angel Syndicate led the investment round to accelerate international expansion and support team growth.
"This €2 million investment will allow us take our technology further into the European market and also enter the exciting North American market. We are planning to action our aggressive hiring plan over the coming months and grow our team significantly. This will initially focus on building our capacity to tackle major water management and sewer pollution issues through the hiring of software engineers, data scientists and drainage engineers, as well as expanding our marketing team to raise awareness of our products"
The company has raised £455k from existing backers and the UK Government Future Fund.
"We’re tremendously proud that our existing investors have stood by our vision to disrupt the mobility sector. We’re continuously moving our product forward and this fundraise will allow us to accelerate the development of our Demand Responsive Transit and smart mobility platform allowing transport operators to improve their profitability and increase their ridership"
