The government agency loan will help the navigation technology firm accelerate product development.
"Digital maps have become part of everyday life for many but using them indoors still poses problems, given the lack of reliable positioning. Our platform overcomes this, providing a better experience for vistors to any large complex spaces, whilst enabling better decisions by operators. This loan will further help us to fast track its development and open up global opportunities for Living Map."
The Manchester start-up secured private angel backing matched with a public grant to develop its platform and expand its team.
"Veo combines the scope and convenience of a multi-vendor marketplace like those we are familiar with, but for high quality, sustainable goods with traceable origins. Consumers are becoming increasingly mindful of the social and environmental impact of their purchases and eager to support unique statement brands and diverse artisans struggling in the current crisis. So, our core innovation solves the scalability problem inherent in large marketplaces, and allows Veo to democratise technology from which many SME businesses are currently largely excluded. The Innovate grant supports Veo’s mission to help sustainable businesses flourish and become resilient, by enabling conscious consumers to discover sustainable products and brands that promotes independent business."
The healthtech startup has secured fresh backing to advance the artificial intelligence capabilities of its clinical trials platform.
"This next round of Innovate UK funding is a huge endorsement of everything we are achieving with Archer. For us, it’s always been about how we accelerate a major step-change in the speed, efficiency and affordability of clinical studies."
Manchester-based sustainable marketplace Veopolis raises £300k from Solid Bond Venture Builder and Innovate UK.
"We’re delighted to support Veo in securing this funding. The RAIA project is focussed on helping innovative North businesses secure finance for growth by attracting co-investment from Angels. Manchester and the wider North are a hotbed of innovation, and I’m delighted we’ve been able to help another disruptive business grow their offer and reach new markets."
The pre-seed round will back research and development as well as sales and marketing expansion.
"Machine learning is more and more integral to products and services we use every day – and to decisions that businesses and governments make about us – but without a widely-accessible way of identifying and eliminating bias, it could cause significant damage to our society by further entrenching discriminatory decision-making despite our best intentions and without us even realising."
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