Mercia Ventures manages regional investment vehicles including the Northern Powerhouse Investment Fund II.
The funding will support equipment for upcoming trials and team expansion.
"Our hardware-based solution has none of the disadvantages of current systems and makes the addition of security a ‘no brainer’. The funding will help us to take the final step and bring it to market."
The funding follows an initial £1.3m investment in 2021 and will support team expansion and product rollout.
"We are pleased to be working with Mercia to roll it out to social landlords, especially at the current time when the cost of living crisis is putting their tenants’ finances under greater pressure."
Northern Gritstone led the Series A investment, with backing from Mercia and the Northern Powerhouse Investment Fund.
"We’re really excited to be backed by the Northern Gritstone team and continue to have the support of Mercia and the Northern Powerhouse Investment Fund. With this new funding we can realise our vision more quickly – enabling anyone, anywhere to access the power of digital twins and decision intelligence and make a quantifiable difference to some of the biggest challenges we face today. 2023 will be an exciting year as we accelerate the release of cutting-edge capabilities on this journey."
The Stoke-based company secured the capital from Mercia funds and private backers to develop its software and create new roles.
"With flexible working and the war for talent, the market for HRtech is expanding rapidly. Huler simplifies life for employees and enhances engagement and productivity. Nicky and Gareth have built an impressive client base and made inroads into the US market within their first year. The funding will help them drive further growth in the UK and internationally. It’s a pleasure to partner with Nicky, Gareth and the whole Huler team."
The funding from NPIF - Mercia Equity Finance will support the development of new compliance modules for high-rise residential properties.
"The new Building Safety Act has introduced the most sweeping reforms in living memory for the construction and residential property sectors. By bringing building intelligence together in one place, Operance can help them meet the challenge. NPIF and Mercia have backed us from the start and the latest funding will allow us to add new features and provide further support for the property industry."
