Welcome to the most recent version of the DIGIT Deal Roundup column, that includes among the high funding, acquisition and enlargement information tales from October 2022.
Scotland’s digital know-how sector noticed a lot of notable offers throughout the month, together with vital raises from rocket manufacturing firm, Orbex.
Here are the most recent offers for October 2022.
DIGIT Deal Roundup | October 2022
LiberEat strikes six-figure funding deal
Scottish tech startup LiberEat has secured £209,000 in grant funding from Innovate UK.
The funding might be used to speed up improvement of the Aberdeen-based agency’s allergen platform and additional advance its machine studying capabilities.
The funding additionally follows a significant pivot by the agency earlier this yr. In July, it formally retired its app as a part of a transfer towards a extra business-focused mannequin.
Commenting on the funding, Founder and CEO Barry Leaper stated: “The grant funding we’ve obtained will go a great distance in bringing our distinctive know-how to extra meals companies while accelerating our future know-how roadmap.”
Unfolded raises £1.2m to drive sustainable trend
Unfolded, an Edinburgh-based sustainable and moral clothes manufacturing platform, has raised £1.2 million in a pre-seed funding spherical.
Led by Techstart Ventures, the funding spherical noticed participation from a variety of sources, together with Solid Bond, FJ Labs, Sweetspot Capital and Pareto Holdings.
Unfolded stated the funding will allow it to speed up its mission to scale back waste within the trend trade and create new, sustainable methods to buy clothes.
Commenting on the funding, CEO and co-founder Cally Russell stated: “This pre-seed funding allows us to amplify our mission with the insights and experience introduced by these buyers; from backing among the world’s best-known tech platforms to actual retailer insights.”
Orbex to develop operations after £40m funding
Scottish rocket producer and satellite tv for pc launch supplier Orbex introduced it’s set to develop operations following a £17.8m funding from the Scottish National Investment Bank.
The monetary assist, which kinds half of a bigger £40m Series C funding spherical, will allow the Moray-based agency to speed up plans for future tasks and develop manufacturing operations.
Orbex chief government Chris Larmour stated: “We are delighted to welcome the Scottish National Investment Bank as a major new investor in Orbex.
“Our firm has made vital progress to get so far, with the invention of ground-breaking, revolutionary know-how…the enlargement of our manufacturing footprint within the UK and Denmark, the creation of the UK´s first orbital spaceport in mainland Scotland, and the expansion in prospects from the UK, Europe and America.”
Scottish IoT agency secures ‘vital’ funding
Scottish IoT connectivity enterprise Pelion secured what it described as ‘vital’ progress fairness funding from Scottish Equity Partners (SEP) in October.
The Glasgow-based agency has stated the funding will allow it to develop independently and allocate extra funding to product improvement, gross sales actions and buyer assist.
David Weidner, CEO of Pelion, stated: “This funding units us up properly to speed up our progress as an unbiased enterprise.
“Pelion is on the forefront of the IoT connectivity market, serving a mess of buyer use instances across the globe, and we’re excited to be embarking upon the subsequent stage of our journey.”
Glasgow tech testing agency luggage £30m
Glasgow-headquartered agency Probe Test Solutions efficiently closed a $30 million (£26.1m) funding spherical led by Tikehau Capital final month.
In addition to the funding assist the spherical noticed 4 new executives be a part of the corporate board, in addition to the appointment of a brand new chairman.
Tikehau Capital stated it’ll present Probe Test Solutions with the operational and strategic assist wanted to speed up additional worldwide enlargement, together with acceptable acquisitions.
Jordan Mackellar, CEO of PTSL stated: “This monetary funding is a large vote of confidence within the firm, our individuals and the technique.
“The funding will allow PTSL to speed up its revolutionary superior know-how roadmap, positioning the corporate forward of ATE trade traits and strengthening our capability to make vital Capex investments to assist our deliberate progress.”
Scottish geospatial agency secures main funding
Scottish geospatial agency Global Surface Intelligence (GSI) introduced a significant funding from Alter Technology TUV Nord Group (TUVN) in October.
The deal will see TUVN safe a minority stake within the enterprise, and allow GSI to speed up progress, spend money on advertising capabilities and develop headcount.
GSI chief government Peter Young commented: “This funding is a significant step ahead for GSI and can drive the size up now we have deliberate for a while.
“It is a major assertion from TUV Nord to spend money on a geospatial firm of our dimension. I’m additionally excited to associate with them over the subsequent few years to discover the applying and potential of earth commentary in their very own companies.”
EBar raises six-figure fairness funding
Hospitality tech startup EBar introduced an fairness elevate of £844k final month, taking the overall funding within the agency to over £2 million since its inception.
The funding increase follows a powerful working interval for the Aberdeen-based agency, which has seen over £1 million in gross sales during the last six months.
EBar’s self-service beer kiosks are actually used at 40 totally different sport and leisure venues throughout the nation.
Nick Beeson, co-founder and Commercial Director of EBar stated: “There has been super demand for our EBar dispense kiosks since we began working at industrial scale. We have seen that our excessive service pace permits occasion operators to seize revenues which might be in any other case misplaced as a consequence of lengthy bar queues.
Expansions
Clickboost to speed up worldwide enlargement
Ecommerce and internet marketing company Clickboost has introduced plans for additional worldwide progress after greater than doubling its shopper base in simply two years.
The Glasgow-based pay-per-click (PPC) specialist now has 40 prospects, up from 15 firstly of the pandemic in 2020.
It has additionally secured a lot of new high-profile purchasers this yr, together with unbiased broadband supplier GoFibre and Barrhead Travel.
Clickboost co-founder Scott Beveridge stated: “We are delighted to have achieved the fortieth shopper milestone.
“It is a testomony to the continued onerous work by our ever-growing gifted group. With financial recession on the horizon, companies must be slicing down on wasteful spending.”
Norman Broadbent to open first Scottish places of work
Norman Broadbent Group is about to open its first places of work in Scotland as a part of a significant enlargement.
The agency plans to open websites in each Edinburgh and Aberdeen, and has established a six-strong group to launch the Scottish arm of the enterprise.
The group goals to make use of 20 employees throughout Scotland by 2025.
Kevin Davidson, CEO Norman Broadbent Group, commented: “I’m thrilled to have Norman Broadbent firmly established north of the border. Having began my profession at Scottish Enterprise I’m passionate in regards to the financial contribution and prospects of Scotland on the worldwide stage and extremely excited to be enjoying our half in shaping management groups of the longer term throughout industries.”
Appointedd eyes international enlargement
Appointedd has introduced an bold international enlargement plan amidst heightened demand for its providers.
The plans embody the extension of Appointedd’s back-end software program performance to work in 5 totally different languages.
At current, the Edinburgh-based on-line scheduling agency is presently being utilized in greater than 167 nations worldwide, and is on monitor to double its worldwide presence this yr.
Leah Hutcheon, Founder and CEO Appointedd, stated; “As Appointedd continues to develop as a world enterprise, we need to make sure the performance of our tech may be appreciated and utilized in each language.
“This localisation function is simply the subsequent step in Appointedd’s progress as an internationally main scheduling software program answer.”
Contracts & Acquisitions
Eurofins celebrates shopper success
Eurofins Digital Testing has revealed a raft of latest enterprise offers secured throughout its safety and software program testing divisions within the first three quarters of 2022.
Eurofins’ safety division, Commissum, has secured a variety of latest purchasers, together with a hospitalist and leisure firm, two forensic providers accounts and a multi-year public sector deal for complete testing providers.
The agency additionally introduced new purchasers within the pharmaceutical and monetary providers sectors.
Eurofins’ software program testing enterprise, Edge Testing, which is headquartered in Belshill close to Glasgow, has additionally added a number of new purchasers during the last six months, together with a £450k take care of one of many largest social housing suppliers.
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