Finance Friday: Who raised funding this week? February 19-23

While you've been busy running a business of your own, we've been busy compiling a list of the very latest funding rounds so you don't miss out

Email shaned@startups.co.uk to get your start-up included.

Missed last week’s funding rounds? Click here and get up to date.


Cambridge-based data integration platform GeoSpock raises £4.7m Series A

Who: GeoSpock
How much: $6.6m (£4.7m)
Who are the investors: The funding round was led by Cambridge Innovation Capital and included existing backers Parkwalk advisors and Sir Michael Marshall as well as Global Brain and 31 Ventures.
For what: To drive further growth
What they said:

Dr Steve Marsh, founder and CTO of GeoSpock, said:

“It’s no longer enough to talk about big data; businesses are dealing with petabyte-scales of information and are seeking ways to extract meaningful answers from their data assets, which has to date been a costly and time-consuming process.

“GeoSpock’s architecture simplifies this process by improving speed and accuracy of analysis to drive high-quality actionable insights – unlocking the potential of extreme data across a wide variety of industry sectors.”

AI-powered employee insights service StatusToday bags £2,797,509 seed funding

Who: StatusToday
How much: £2,797,509 seed funding ($3.91)
Who are the investors: The funding round was led by LocalGlobe, with participation from Notion Capital and Firstminute capital.
For what: The fresh injection of cash will be used to attract more clients and hire more people.
What they said:

Ankur Modi, co-founder of CEO of StatusToday, said:

“We are in the ‘let’s change the way you work’ business. We’ve already seen lots of changes in where people work, when they work and the range of devices they use.

“StatusToday is a service designed for the modern workplace, that helps companies understand their effectiveness in this new environment.”

Scottish health and safety software business SHE Software raises £3m

Who: SHE Software
How much: £3m
Who are the investors: NVM Private Equity
For what: To drive international expansion
What they said:

Matthew Elson, CEO of SHE Software, said:

“Our customers are individuals who deal with complex and dispersed operations where the more traditional approach to managing health and safety is no longer adequate. We believe that our software brings a fresh, new approach to the health and safety software market.”

Homie, a London-based proptech that caters to renters, has raised £2.85m

Who: Homie
How much: £2.85m ($4m)
Who are the investors: The funding round was led by Connect Ventures and included Seedcamp, Venture Friends and The Family.
For what: To further develop its platform.
What they said:

Alex Eid, founder and CEO of Homie, said:

“This new investment represents an incredible opportunity for us to further develop our tech platform and team without compromising on any of the personal aspects of Homie that make it so unique.

“Our vision has always been to make London’s rental market faster, more transparent and easier to navigate whilst delivering a personal service.”

UCL spinout and AI start-up Re:infer raises £2.5m

Who: Re:infer
How much: £2.5m ($3.5m)
Who are the investors: Led by Touchstone Innovations, the funding round also included Crane Ventures, Seedcamp and Dr Jason Kingdon, an AI pioneer
For what: To recruit more sales and marketing personal and further develop its cognitive automation
What they said:

Ed Challis, co-founder and CEO of Re:infer, said:

“We are at the dawn of enterprise automation and re:infer is leading the way for customers who want to realise its benefits.

“Cognitive automation gives enterprise service businesses the scaling economics of digital-first players like Amazon and Google.

“Re:infer gives our clients’ infrastructure a new perceptual capability to listen and understand all of their communications in real time and at scale.

“Clients can detect and service customer needs they’d otherwise miss – accounting for huge increases in customer satisfaction.

“By automating communications data, we drastically improve fulfilment from hours to seconds and massively increase throughput and efficiency – in some settings by over a thousand times.”

Online marketplace for property rentals Vesta raises £2.1m seed funding

Who: Vesta
How much: £2.1m
Who are the investors: Investors included Bob Wigley, chairman of UK Finance and ex-chairman of Merrill Lynch EMEA; Chris Lacey, until recently head of residential capital markets at CBRE; David Ritchie, former CEO of Bovis Homes; Keith Morris, former chairman and co-owner of Sabre Insurance; and David Toplas, Vesta’s founder and CEO of Mill Group
For what: UK expansion
What they said:

Russell Gould, CEO of Vesta, said:

“I’m delighted with the support received from both existing and new investors. We have a first-class shareholder base, having attracted an incredible calibre of investors who bring far more than just funding, but add invaluable intellectual capital too.

“Our investors share our belief that Vesta’s innovative marketplace will revolutionise the private rented sector, bringing together house builders, buy-to-let sellers, buyers and property investors and removing significant market inefficiencies.”

Mercia awarded £23m Midlands Engine Investment Fund to invest in early stage businesses

Who: Mercia
How much: £23m
What is it: The Midlands Engine Investment Fund is an early stage equity fund
For what: The fund will be used to invest in early-stage businesses in rounds of up to £750,000 with additional funding potentially coming from Mercia’s EIS Funds into early-stage and growth companies.
What they said:

Dr Mark Payton, CEO of Mercia, said:

“We are delighted that, following a competitive tender process, Mercia has been awarded this latest fund. It is perfectly aligned with our focus on the underserved regions of the UK, our headquarters in the Midlands and of course alongside nine of our 19 university partners which are also in the Midlands.

“Our partnerships with some of the most forward-thinking academic establishments in the country offers a valuable pipeline of deal flow opportunities and will in large part be key to the success of this new fund.

“This latest contract will further strengthen the Group’s ability to generate attractive returns for both managed fund investors and the Group’s shareholders.”