Scottish Enterprise is a national economic development agency supporting business growth.
The seed round was backed by Scotmid Coop, Techstart VC, and Scottish Enterprise to fund platform development and recruitment.
"2020 sent shockwaves through the high street, and nothing will ever be the same. Having worked in retail for 20 years, this has made me even more ambitious with our plans for growth over the next 18 months."
Gabriel Investment Syndicate led the seed round to help take the company's technology worldwide.
"Our mission is to change the fitness tracking market for the better, by making professional running laboratory-grade technology accessible to all runners. In doing so, we’ll help people both improve their running and lessen the risk of injuries."
Techstart led the £1m round, which also drew backing from angel investors and the British Business Bank.
"We’ve had a great first year with over 300 e-commerce stores from 23 different countries choosing Machine Labs to increase their sales,"
The funding round was backed by Belmond Capital, Scotmid, and Scottish Enterprise to support platform enhancements and marketing.
"After running my own companies for nearly 20 years, I have first-hand experience of how difficult it can be for emerging brands to get their products in front of retail buyers,"
