Octopus Ventures is a European venture capital firm that backs growing businesses.
The Series A round was led by Octopus Ventures to support team expansion and product development.
"The subscription economy is rapidly transforming the way we access products and services – yet the smartphone, an individual’s most valuable device, is still locked behind a bundled, ownership-based model. This means most people are trapped in a buy-and-dispose cycle, with a steep financial and environmental costs."
The Series A round was co-led by MTech Capital and Viola FinTech to support platform expansion and financial services growth.
"Given the strong demographic growth in the over 50s across developed countries, we are constantly surprised that most venture funding continues to flow into business models targeting millennials and Gen Z – at the exclusion of support and services for midlifers. With this funding round, we are delighted to bring on board some fantastic new investors who understand the seismic demographic shift underway in society and the opportunity this presents to better serve an under-represented audience."
Octopus Ventures led the seed round to support international expansion and product development.
"There’s a huge commercial opportunity for businesses that demonstrate strong sustainability credentials but for most, it’s extremely difficult to achieve. Minimum is a game-changer because it embeds real-time emissions tracking directly into the business itself, and businesses can neutralize the emissions they are actually accountable for, rather than an arbitrary amount. Not only can this help them make their operations carbon neutral by default, but armed with an understanding of their carbon impact companies can provide much-needed carbon transparency to their customers and are better equipped to continuously improve the sustainability of their processes."
The financing round was led by Octopus Ventures with backing from both new and existing investors.
"Today, we’ve developed the world’s first Engineering-Grade AR solution helping construction teams identify errors in real-time, but really that’s just the start of our journey. The next phase is Assisted Reality, where our spatial computing technology will have the intelligence to automatically detect and report issues in the field. And ultimately, the goal is builders building from holograms. Our vision of developing world changing products aligns with Octopus Ventures’ mission of investing in companies that are powering the next industrial revolution. We look forward to building history."
Barclays led the funding round with participation from existing backers to accelerate international expansion and product development.
"This investment recognises that with powerful real-time software solutions underpinning our emerging green energy systems, tackling the world’s greatest threat of climate change can also become the world’s greatest commercial opportunity. Barclays shares our vision and has a broad customer base in the UK and internationally, which includes many energy businesses. I am looking forward to working with them to help achieve our ambitious goals."
