This week’s investment activity in UK’s tech sector hit £9.3 million, even in a typically quiet period.
- Stora, a SaaS company, secured Series A funding to enhance automation for storage facilities.
- Concinnity Genetics, an Edinburgh-based biotech spinout, gained Series A backing for gene therapy advancements.
- An innovative autonomous vehicle project in Coventry raised capital publicly, advancing its Auto-DollyTug technology.
- These examples illustrate the ongoing vibrancy and innovation in the UK’s tech scene.
The week ending 20 December 2024 witnessed a notable financial movement within the UK’s tech industry, recording investments totalling £9.3 million. This figure is particularly impressive given the historical trend of diminished funding activity during this time of year.
Stora, a software-as-a-service (SaaS) entity based in Banbridge, received Series A funding from the Investment Fund for Northern Ireland (IFNI). The company has developed a platform that aids self-storage companies in automating administrative functions, optimising sales processes, and reducing operational costs. By addressing these operational efficiencies, Stora positions itself strategically in the market for storage solutions, capitalising on the growing demand for streamlined and cost-effective business operations.
In Edinburgh, Concinnity Genetics, a biotech spinout from 2023, secured Series A investment through Scottish investor Eos Advisory. This funding supports Concinnity’s endeavour to pioneer new gene therapies, employing novel control mechanisms that promise innovative solutions in the field of genetics. Such advancements highlight the dynamic progress in health technology, furthering Edinburgh’s reputation as a hub for scientific innovation.
Coventry showcased its technological prowess through a publicly raised capital initiative for an autonomous vehicle project. The project’s development, known as the Auto-DollyTug, focuses on automating baggage and cargo logistics, exemplifying cutting-edge advancements in transport technology. This initiative not only enhances efficiency in logistics but also underlines Coventry’s role in driving autonomous vehicle technology forward.
These investments, spanning various sectors and technologies, reflect the UK’s robust environment for tech innovation. They demonstrate the sector’s resilience and ability to attract funding despite typical seasonal slowdowns.
This week’s funding activities reinforce the UK’s position as a fertile ground for tech innovation and investment opportunities.
