Mercia Ventures manages regional investment vehicles including the Northern Powerhouse Investment Fund II.
The Newcastle-based cybersecurity company raised the capital to fund product development and expand its team.
"Mercia has an in-depth knowledge of the cybersecurity market. Having supported Melius from an early stage, it’s been rewarding to see its progress with each funding round. CyberSafe solves a security headache for SMEs and this latest investment will enable Richard and the team to establish it as a leader in its field."
The funding was led by Mercia Ventures and will support preparations for upcoming clinical trials.
The funding round was led by Mercia Ventures with backing from IP Group and Panakès Partners.
"We have been overwhelmed with the positive feedback we received from surgeons during the development of the IonPencil. As they have been reluctant to adopt the current systems, we believe our device will greatly improve compliance with new legislation."
The funding round was led by Mercia Ventures via the Midlands Engine Investment Fund II alongside Sure Valley Ventures.
"Purple Transform’s mission is to unlock the full potential of technology to enhance safety, security, efficiency, and overall human well-being. Having successfully deployed our technology in rail, which is a highly complex environment, we’re looking forward to expanding into critical national infrastructure, ports, and manufacturing among other new areas."
The funding round was led by Mercia Ventures via the Midlands Engine Investment Fund II and backed by Sure Valley Ventures.
"Purple Transform’s mission is to unlock the full potential of technology to enhance safety, security, efficiency, and overall human well-being."
