Octopus Ventures is a European venture capital firm that backs growing businesses.
Octopus Ventures led the £2m round, which will fund product development and US expansion.
"We are delighted that we have the tremendous support of top tier fund Octopus Ventures and experience of angels like Andy Phillipps and Henrik Kraft, to back us as we add products to facilitate a wider community in the film industry and expand into the US."
Octopus Ventures led the Series A round to fund geographic growth and the launch of a second device.
"Our mission is to become the leader in femtech by improving the health and wellness of women everywhere and at all stages of their life through smarter technology. The combined backing from Octopus and AllBright is a huge mark of credibility for Elvie. Octopus is the leading consumer tech investor in the UK and we’re proud to partner with such an experienced investor with strong expertise in taking British brands to the U.S. Elvie and AllBright share the same mission of advocating for female-led technology. Together we are committed to push the boundaries of innovation applied to women’s issues."
The Series B round features participation from Amadeus Capital Partners and Octopus Investments.
"We have had significant success in the U.S. market to date, and we are confident that now it’s the right time to scale up our team and operations domestically, in order to solidify our leadership position,"
BASF Venture Capital, Octopus Investments, and Entrepreneurs Fund joined existing backer Finance Wales to fund the commercialisation of SmartKem's tru-FLEX materials.
