DIGIT Deal Roundup April 2019

DIGIT Deal Roundup May 2019

Welcome to the April edition of the DIGIT Deal Roundup. This month we cover new partnerships and funding from companies such as Smarter Grid Solutions, Machines with Vision and Amiqus Resolution Ltd.

Funding

Machines with Vision

fundingEdinburgh-based technology company, Machines with Vision, has secured funding worth £1.3 million from a pre-seed investment round and major industry partner contracts.

With the funding Machines with Vision plans to hire new staff, accelerate the launch of its precise localisation technology product over the next 12 months. The firm hopes that this effort will help it tap into a market worth £30 billion.

Investors include well-known technology entrepreneurs such as Gareth Williams, Matt Farrugia, Chris Wade and Rob Dobson, as well as the University of Edinburgh’s investment arm, Old College Capital.

Commenting on the funding announcement, Machines with Vision CEO Anthony Ashbrook said: “This investment will allow us to build the team to realise our vision of becoming a core technology provider to the transport industry.”

Gareth Williams added: “I was impressed by the team’s ambition, early industry traction and clear plan to become a serious player in the future of autonomous transportation.”

Want to find out more? Read the original article here.


Sustainable Marine Energy Ltd

PLAT-I tidal energy platform systemThe Edinburgh-based tidal wave energy company has secured £3.36 million in funding to further develop its PLAT-I tidal energy platform system. As part of this latest funding round, the Scottish Investment Bank (SIB) has committed £1 million on behalf of the Scottish Government via its Energy Investment Fund (EIF).

In addition, investment marine propulsion and renewable energy firm, SCHOTTEL HYDRO GmbH, has contributed £2.46 million to the funding round. Jason Hayman, Managing Director, Sustainable Marine Energy said: “It is fantastic, and a great testament to the team for all their hard work to close this funding round.

“Securing new investment from the Scottish Investment Bank and commitment from SCHOTTEL for our work in Nova Scotia will enable us to take a significant step forward on our renewable energy journey.”

SIB Director Kerry Sharp said: “SME has repeatedly proved its resourcefulness, culminating in the successful testing of its innovative PLAT-I platform and generation of first power. We’ve supported the company every step of the way since it relocated to Scotland in 2016 and have underlined our continued backing by contributing to its latest fund-raise.

“This investment could ultimately see SME further its commercial activity, placing the company at the forefront of the development of tidal energy technologies and further cementing Scotland’s position as a leading player in the global transition to a low-carbon economy.”

Want to find out more? Read the original article here.


Partnerships

Amiqus Resolution Ltd 

Scottish firm Amiqus Resolution Ltd is to partner with ProxyAddress, a government-backed startup, to build secure identity verification software to help provide vulnerable people with access to vital services.

The new software will be used by ProxyAddress to give those facing homelessness with a secure stable address.

ProxyAddress founder, Chris Hildrey, said, “Amiqus is helping bring the years of hard work behind ProxyAddress to fruition and real-world application.

By building a platform through which vulnerable people can prove their identity, we will be able to provide each ‘proxy’ address with the confidence that it can connect those who face homelessness to the services they need for support, independence and recovery.”

Amiqus CEO Callum Murray said, “Working with ProxyAddress is a natural extension of our mission to improve access to civil justice and a great way for our team to practice the kind of problem-solving that will benefit our other products too.

“Chris has put in an immense amount of work getting ProxyAddress in front of the right people and we’re excited to help him take it to live trials as one partner among many who’ve recognised the value in the practical approach he’s put forward. Our aim is to strengthen the societal impact our software can have by working with the right partners like ProxyAddress and FinTech Scotland.”

Want to find out more? Read the original article here.


Smarter Grid Solutions 

Electric Vehicle Flow BatterySmarter Grid Solutions (SGS), a Glasgow-based clean energy technology firm, has entered a new partnership with SP Energy Networks to develop ways to enable the charging of electric vehicles at public venues, service stations and homes without off-road parking.

SGS will also collaborate with traffic software provider PTV Group and consultancy and technology company EA Technology on the £8.5 million “Charge” Network Innovation Competition (NIC) project.

Scott Mathieson, Director of Network Planning & Regulation at SPEN, said: “Working with innovative companies like Smarter Grid Solutions is essential if we’re going to respond to the challenges of connecting electric vehicles to the grid.

“Charge is an exciting project that will test many potential solutions in Liverpool, North Wales and the surrounding areas. Once we know which combination of technology and commercial solutions and procedures works best then SP Energy Networks will be able to help other network operators to roll them out across the whole country.

“Drivers need to know they can charge their cars at home, and when out in their local community or further afield, and our Charge project will help to give them the reassurances they need.”

Want to find out more? Read the original article here.


Expansions

Boston Networks 

Scott McEwan, CEO of Boston NetworksGlasgow-headquartered Boston Networks is combining with Pinacl Solutions and Pinacl GDA, headquartered in North Wales, to create a UK-wide organisation with a staff of more than 300 and a turnover approaching £50 million.

Facilitated by private equity investment specialists, Aliter Capital LLP, the combination will establish a “major player” in the support services sector offering full design, installation, management and support capability in network infrastructure, smart buildings, Internet of Things (IoT), physical security and life safety systems.

Greig Brown, partner of Aliter and chairman of Boston Networks, commented: “Since our investment into Boston Networks, we have been extremely focused on creating a national provider that has major credibility across the networking and systems integration market.

“The combination of Boston Networks and Pinacl creates a leading business within the market and we look forward to working closely with the enlarged management team to create further success.”

Boston Networks CEO Scott McEwan added: “Pinacl is a business we have admired for many years. It is a sophisticated business and offers complementary technologies, customers and geographical coverage.

“It will be business-as-usual for the two companies, and I’m looking forward to working with their senior team. Pinacl has been leading the IoT drive and the smart cities agenda in England and Wales as we have in Scotland, and the synergies are obvious.”

Want to find out more? Read the original article here.


EIT Digital

Ivan McKeeEIT Digital has opened an Edinburgh satellite office which will aim to foster closer ties between Scotland and the European Union. The EU-based digital innovation organisation will aim to increase innovation and investment in R&D through its new office while boosting university-industry knowledge exchange and skills development in Scottish businesses.

Funded by Scottish Enterprise, Scottish Funding Council, EIT Digital and hosted by the University of Edinburgh’s Bayes Centre, the Edinburgh office will champion Scottish business innovation to investors and talent across Europe.

Innovation Minister Ivan McKee said: “Our vision is for a Scotland where innovation is an intrinsic part of our culture, our society and our economy,” he said. “For decades, Scotland has participated in European projects, led strategic partnerships and welcomed people from across the EU and around the world.

“Regardless of the outcome of Brexit, Scotland will continue to be an outward-looking, open and welcoming country. This project will allow academia and businesses to work together to drive innovation,” McKee added. “It also enables Scotland to raise the profile of its digital assets across Europe, helping to attract both inward talent and investment while connecting Scotland’s businesses to experts and potential collaborators.”

EIT Digital CEO Willem Jonker, said: “This new Edinburgh satellite will allow EIT Digital to deepen the connections with the Scottish innovation ecosystem and to intensify our relationship with the Scottish Private and Public Sectors.”

Want to find out more? Read the original article here.


Waracle

Dundee-based mobile app developer, Waracle, has taken a stake in artificial reality (AR) start-up Mozenix. Waracle previously invested in Mozenix when the company was first starting out, and its six-strong team was already based in Waracle’s Bash Street offices. Part of the Exception Group since 2016, Waracle plans to use the technology developed by Monzenix to offer clients a wider suite of products.

Waracle director and business developer, David Romilly, said: “The DNA of Waracle has always been about exploration. When mobile came on the scene, we were one of the first companies to experiment with it. We need to keep on exploring, researching and understanding the technologies so that we can help take our clients on a journey.

“The investment in Mozenix is us backing the technology and shows we understand the potential. AR and voice are going to be the next big frontiers for consumers.”

Waracle CEO Chris Martin added: “The Waracle team put their love of technology at the heart of everything they do. Bringing the Mozenix AR expertise into the fold means we can now offer an even more valuable service to our client base.”

Want to find out more? Read the original article here.



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