Saudi Aramco Energy Ventures led the $5m round to support international expansion and technological development.
"We welcome this exciting collaboration with Saudi Aramco Energy Ventures as we step up the global response to CUI through the adoption of digital solutions. This investment demonstrates a surge of confidence from the sector in the use of real-time data systems that will accurately predict leakages and the onset of structural failure. With the worldwide cost of corrosion at $2.5 trillion, a co-ordinated effort cannot come soon enough. CorrosionRADAR is showing that a sustainable path to increased safety and dramatically reduced costs is achievable right now, using new technology and wireless connectivity."
The funding package from Mercia will support team expansion and the wider rollout of the student engagement platform.
"Understanding student engagement and ensuring they have the right support has always been difficult for universities, but at a time when learning is moving online and students are spending more time alone, it is even more important. Solutionpath provides real-time feedback on how new practices are being received and enables them to spot vulnerable students or those at risk of dropping out."
The seed round was led by Mercia through the Northern Powerhouse Investment Fund to support platform enhancements and team growth.
"There has been growing recognition amongst businesses of the importance of employee health and wellbeing and the pandemic has brought this into even sharper focus. As we move into 2021, monitoring, measuring and having the ability to respond to the needs of employees will be critical as we transition back to work."
Committed Capital and Mercia led the seed follow-on investment to support airport transfer tools and healthcare expansion.
"We are delighted with the considerable support we have received from our investors. With the opportunities that are available to us across our key industry verticals and armed with the technology to realise them, we anticipate an incredibly exciting period in the business’s development next year and beyond."