Mercia Ventures manages regional investment vehicles including the Northern Powerhouse Investment Fund II.
The Series A round was backed by Mercia Ventures, Pearson, and Fuel Ventures to support artificial intelligence development and go to market expansion.
"Funding will be allocated to product innovation, leading the use of AI in connecting learning to the skills people need and the results businesses care about. Also, scaling our GTM and new market."
The funding was led by Mercia Ventures and the North East Venture Fund to help bring the non-invasive health sensor to market.
"A build-up of lactic acid causes muscles to seize up and athletes to suddenly ‘hit a wall’, but it’s hard for them to know when this will happen without measuring lactate levels. Fingerprick tests are uncomfortable, fiddly and not always accurate. Our device will overcome these problems and provide continuous monitoring, rather than a one-off measurement. This latest funding, together with our partnership with a major global chip manufacturer, will enable us to bring it to market."
The funding round was backed by Mercia Ventures alongside regional funds and private investors to support global market expansion.
"With Symphony Commerce, we’re empowering our clients to outpace their competition with agility and precision, ensuring they remain leaders in their industries. This investment allows us to scale faster, expand our team, and deliver a superior customer experience."
The investment from Mercia Ventures and Haatch will fund team expansion and platform enhancements.
"We wanted to make it easier for companies to manage global talent and ensure they have the right people in the right place at the right time. By putting the emphasis on skills, TalentMapper also helps ensure employees are promoted for their capabilities. I have seen so many talented people overlooked for promotion because they weren't a replica of their boss. The funding will enable us to build our team to cope with growing demand, add new features to enhance the platform and scale for growth by targeting other sectors including financial and professional services."
The funding round was backed by existing investors Mercia Ventures, NorthStar Ventures and North East Finance.
"Newcells has a great product and a strong team, and has the potential to become a leader in its field. The past year has been tough for the pharmaceutical industry as economic uncertainty has affected investment, resulting in fewer drugs under development. Newcells has navigated the changing markets effectively, while also improving efficiency and strengthening its commercial team. It is now well positioned for growth as activity levels recover and more companies make the decision to move away from animal testing."
