The funding round was led by Mercia to support product development and team expansion.
"There are over 400,000 substations in the UK and most are still accessed via old-fashioned keys which are easily lost, stolen or not returned. CentraLock offers a step change in security for the utilities industry. Not only does it help prevent unauthorized access, but it also helps safeguard maintenance staff who often work alone on sites in remote locations. We believe there could be a huge potential market worldwide."
The financing round was supported by 24 Haymarket and Mercia to fund regional expansion and product development.
"There is a wealth of technical talent in the Midlands, which is clear from the leading research that repeatedly comes out of the region. We are clear at CyberOwl that we need to go where the talent is. We were born out of research at Coventry University and are excited about the prospect of building up a research and development base in the MIdlands."
The investment was led by Nauta Capital with participation from Mercia.
"We are pleased to be able to advise Mercia on this further funding round after their initial investment. We have a longstanding working relationship with Mercia and over that time we have seen first-hand their ability to pick companies with good potential for scale-up, and BlackCurve’s success demonstrates that ability to spot prospects with real promise."
Mercia led the Series A round to help the company expand its software and research teams.
"We are delighted to have secured this latest funding round, which demonstrates investors’ confidence in the potential of our technology. Authenticate is changing the way the food industry looks at supplier compliance. We live in an ever more transparent world and technology means that so much more information can be monitored in real time – reducing the burden on all parties, and delivering genuine insight into the way our food is grown and processed."
