The North East Fund is a suite of venture capital and loan funds established to invest in regional businesses across North East England. The programme is delivered through five separate funds managed by independent FCA regulated fund managers.
The investment follows the recent launch of a more powerful version of the company cybersecurity platform.
"Mercia has in-depth experience in the cybersecurity sector, and we are proud to have played a key role in the success of Melius CyberSafe. Traditional cybersecurity is beyond the reach of many small firms due to the high cost but CyberSafe helps to solve this problem by automating key processes. With businesses under attack from criminal gangs and hostile states, the need for it is arguably greater than ever."
The biotechnology firm raised fresh capital to accelerate growth in American and European markets and complete new laboratory facilities.
"Over the last year we’ve demonstrated the market for novel and improved in vitro testing methods and expanded our customer base as well as the Aelius team. Along with our move to our new premises, this latest funding will enable us to accelerate our growth in international markets, particularly in the US."
The funding round includes participation from Calculus Capital and the North East Venture Fund.
"Notify has become the challenger brand in Safety Tech through our approach to service and innovation, delivered by a fantastic team. I’m delighted we’ve been able to raise additional capital from long term investors to support our latest innovations and to continue our growth trajectory. Thousands of organisations are recognising the value of looking after the health, safety and wellbeing of their workforce, and Notify is now perfectly placed to deliver software that drives employee engagement and productivity."
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."
