Deals round-up | Proportunity, MyGate, Cassavo
A 5G technology research centre is to be created in Bangor from £6m of funds, including £4m from the EU, £1.7m from the University of Bangor and £340,000 from private sector investors.
The establishment of the Digital Signal Processing Centre of Excellence at Bangor University will enable research into 5G and communications technology.
Research will also focus on mobile phones, wifi hubs and modern manufacturing lines in order to improve the way the mobile communications system works.
Counsel general and Brexit minister Jeremy Miles said: “Fast, flexible, adaptable digital systems, tailored to the needs of the user, are essential in today’s time-sensitive culture, and are vital to our nation’s development as we continue to boost productivity in the Welsh economy.”
London-based Proportunity has raised £2m in a seed round led by fintech investment firm Anthemis, Axel Springer Digital Ventures also participated in the round.
Proportunity’s platform offers help-to-buy style equity loans to allow first-time buyers access to properties which aren’t just new builds. Its AI platform also follows market data to inform the customer whether the house is over- or underpriced.
Since its inception, over 5,000 people have used the platform and lent over £10m. This round is set to fund team expansion and pilot services in Europe.
MyGate, a security management platform for gated communities, has raised $56m in its Series B.
This round was led by Tencent, along with investment from Tiger Global, JS Capital and existing investor Prime Venture Partners. This brings the total raised by the Bangalore-based company up to $67.5m.
The company plans to use the capital to expand its technology infrastructure to keep up with demand, grow its marketing and operations team and build more features. It aims to reach 15m homes across 40 Indian cities over the next 18 months.
Italian instant house buying platform Casavo has raised €50m in Series B led by Greenoaks Capital. Casavo has raised over €100M in the two years since its inception.
The firm wawnts to remove pain points in the buying and selling process and aims to sell a house online in 30 days to major cities in Europe. The company plans to use this funding round to expand its offer geographically into more European countries.
EV Connect, a Los Angeles-based electric vehicle software provider has raised $12m in its Series B.
This round was led by Mitsui & Co and Ecosystem Integrity Fund, and brings the total raised by the company to $25m.
EV Connect provides maintenance and monitoring services for EV charging stations. The company’s dual pronged offer includes the management of 1,000 EV charging sites, and an app to give real-time data about a charge.
The company is set to use this funding round to diversify its offer, including packages for fleet vehicles, and explore different avenues of energy management.
Aurora Insight, a wireless connectivity data collector, announced that since its inception in 2016, it has raised $18m in funding.
Investors over this three year period included Alsop Louie Partners, True Venture, Tippet Venture Partners, Revolution’s Rise of the Rest Seed Fund, Promus Ventures, Alumni Ventures Group, ValueStream Ventures and Intellectus Partners.
During this period, the startup has aggregated data collected from sensors on buildings, vehicles and satellites along with AI insights, to create a platform of connectivity insights which includes a global map of the wireless network.