The Northern Powerhouse Investment Fund provides commercial finance to businesses in the North of England.
The funding will support equipment for upcoming trials and team expansion.
"Our hardware-based solution has none of the disadvantages of current systems and makes the addition of security a ‘no brainer’. The funding will help us to take the final step and bring it to market."
Northern Gritstone led the Series A investment, with backing from Mercia and the Northern Powerhouse Investment Fund.
"We’re really excited to be backed by the Northern Gritstone team and continue to have the support of Mercia and the Northern Powerhouse Investment Fund. With this new funding we can realise our vision more quickly – enabling anyone, anywhere to access the power of digital twins and decision intelligence and make a quantifiable difference to some of the biggest challenges we face today. 2023 will be an exciting year as we accelerate the release of cutting-edge capabilities on this journey."
The Leeds-based tech company secured the capital from NPIF - Mercia Equity Finance and angels to develop new platform features.
"Remote working is here to stay and we are very excited to be driving innovation to make collaboration easier and more effective for everyone. The funding will allow us to add new features, drive uptake across different sectors and establish the Neugo platform as the leader in the field."
The funding round was led by Mercia alongside a private investor to support product development and hiring.
"Salesfire aims to replicate the in-store experience, where sales assistants and effective signage help customers to find the right products and maximise sales. In the current challenging retail environment, it is even more important that online stores make the most of their marketing spend. The investment from Mercia and NPIF will enable us to develop exciting new features to make the platform even more powerful."
The financing round was led by Vitruvian Partners with participation from the Amazon Alexa Fund, XTX Ventures and the Northern Powerhouse Investment Fund.
"I am delighted to announce our latest fundraising round led by Vitruvian Partners. Vitruvian’s experience supporting high-growth and innovative technology companies globally will be invaluable as we continue to scale up our capabilities and operations. Given the evolving threat landscape and the increasingly sophisticated technology being used by adversarial actors, this investment will help us continue to stay at the forefront of the fight against misinformation, funding further research and development of end-to-end technology solutions that really break down and combat information threats."
