funding

Digital Medical Tech Raises £1.2m funding

Digital Medical Tech (DMT), a solution provider for hospital management and asset tracking, recently raised $1.5 million in seed capital.  St. Louis, Mo.-based DMTI Capital Partners provided the funding which will be used to launch a nationwide engagement program for targeting healthcare providers and potential partnerships.

Digital Medical Tech, which enables health systems to proactively track medical equipment and devices via a Bluetooth platform, was founded in 2016 by CEO Matthew Nicholson.  The company’s real-time location system monitors and manages medical assets while requiring less infrastructure and shorter installation time compared to other tracking solutions.

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Who are the major revenue-based investing VCs?

According to Workthere’s latest research report, Venture Capital funding in the UK reached a record high of £4.3 billion in H119, which is a 45% increase on the same period in 2018.

The report shows that the average deal size for UK VC investment doubled to £5.9 million in the first half of the year with 724 deals recorded compared to 1,147 in H118. In terms of where this money has been directed, tech has been the clear winner attracting 60% of all VC funding in H119, compared to 44% in the same period in 2018.

Jessica Alderson, global research analyst at Workthere, says: “Last year it was all about healthcare, but this year tech is the most popular sector for VC investors. In particular, the sub-sector that is really driving growth is Fintech, which has accounted for eight out of the top ten funding deals so far this year, compared to just three last year. Moving forward, this is definitely an interesting sub-sector to watch in terms of expansion outside of their primary London offices into wider UK markets.”

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British Columbia Discovery Fund Announces Distribution

VANCOUVER, British Columbia, Aug. 19, 2019 (GLOBE NEWSWIRE) — British Columbia Discovery Fund (VCC) Inc. (the “Fund”), a venture capital investment fund managed by Discovery Capital Management Corp. (“DCMC” or the “Manager”), is pleased to report that the holdback receivable with respect to the sale of Rx Networks Inc. (“Rx Networks”) to Beijing BDStar Navigation Co., Ltd. (“BDStar” – www.navchina.com/en/) first announced in 2017 (the “Rx Transaction”) has been paid in full. The Rx Transaction was completed by the purchase of 100% of the outstanding shares of Rx Networks by BDStar for $31 million of all cash consideration, subject to a 20% holdback of the consideration for a period of two years.

Second Distribution under New Dividend Distribution Model

At the Special and Annual General Meeting of the Fund held on June 8, 2017, shareholders of the Fund approved special resolutions that convert the manner in which the Fund provides liquidity to investors to a dividend distribution model. As a result of the receipt of the approximately $1.6 million holdback receivable amount, the Fund is pleased to announce that it will make the second distribution under this new model in September 2019 in the amount of $0.35 per share. The total amount of the distribution will be approximately $1.5 million with shareholders each receiving their total pro rata share based on the number of shares held.

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Octopus Ventures-backed Systum raises $10.7m

Systum, a provider of a digital operating platforms for small to medium-sized businesses has announced it has raised $10.7 million in its latest round of funding led by London-based venture capital firm Octopus Ventures.

Systum combines business operations such as inventory and order management, marketing, CRM and digital commerce into a single platform that delivers ‘Enterprise Class’ operational capability.

The business offers a comprehensive and affordable software solution distribution that SMEs need to run all of their customer facing operations.

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Venture capital funding hits £4.3bn record high spurred by tech investment

Venture capital funding in the UK lifted to a record high during the first half of this year, bolstered by a hunger for tech investments.

VC funding rose to £4.3bn during the first half of 2019, a 45pc year on year increase, according to Workthere, the serviced-office arm of Savills estate agent.The average deal size for UK VC investment doubled to £5.9m in the first half of the year with 724 deals done – down 37pc in volume from the 1,147 deals recorded in the first six months of 2018.

Investors have been favouring larger, later funding rounds. A recent White Star Capital survey said that UK VC investors were increasingly getting involved of funding rounds of $100m or more.

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Venture capital doesn’t work, says Business Growth Fund boss


Stephen Welton, who runs Business Growth Fund, the UK’s most active investment vehicle, has questioned the business model of Britain’s venture capital firm.


The total amount of VC money invested in Britain rose by 37pc to £4.4bn over the first six months of this year, according to KPMG.However, venture capitalists are shying away from investing in early stage UK start-ups in favour of placing bigger, fewer bets on scale-ups.


But Welton, who runs Britain’s most active scale-up investor, says the VC model is flawed because it relies on identifying potential unicorns – companies which will eventually be worth $1bn or more – to offset losses made by other investments.

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Google-backed AI-focused proptech startup secures £1.5m seed funding


A London-based property management software startup which has previously received investment from Google has secured £1.5m in seed funding.


AI-focused proptech askporter has closed the round which saw participation from strategic investors and Silicon Valley VCs including Plug and Play, Venture University, Pi Labs, WISAG FM and Henley Investments. Google-backed AI-focused proptech startup secures £1.5m seed funding.


askporter is a digital platform that harnesses AI with the aim of simplifying the process of property management. The firm’s digital assistant ‘Porter’ can be accessed 24/7, supporting with tasks including arranging viewings, inspections, resolving issues and chasing rental arrears.

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