TECH BYTES
ARCUS ACCELERATES GROWTH PLANS the total raised in the round to £5.5m, will be used to accelerate the growth of the business and continue investment in its transformative product portfolio, including further development of Arcus’ local government software platform 34% year-on-year growth. Denis Kaminskiy, CEO and co-founder of Arcus Global, added, “This new investment from existing shareholders
Anyone who has worked in the public sector will testify that the IT equipment available isn’t always cutting edge, so it’s no surprise that Cambridge company Arcus Global has found a lucrative market helping local authorities to upgrade. Arcus, which specialises in GovTech or digital transformation in the public sector, has raised an additional £2.5m in Series A funding to help accelerate its growth plans. The cash, which takes
is a huge sign of confidence in the execution of our strategy to deliver innovative cloud solutions to enable the digital transformation of the public sector. “Their continued support is an endorsement of the rapid progress we’re making in disrupting the GovTech software market.”
and recently launched AI-powered voice solution, Arcus Answer. Existing investors, led by YFM Equity Partners, provided the majority of the funding. Eamon Nolan, partner at YFM Equity Partner, said: “Outdated legacy systems are holding back the organisations in the public sector. Arcus Global is making great steps to help drive true digital transformation with leading local authorities, universities and the NHS across the UK, and we are excited about the positive impact this has and what Arcus is set up to achieve over the next few years.” The last financial year saw Arcus deliver revenue of £13m, representing
Outdated legacy systems are holding back the organisations in the public sector. Arcus Global is making great steps to help drive true digital transformation"
Science Group has pulled the plug on a potential
Investors have put an additional $24m into
Leading lights from the green technology sector will descend on Cambridge on 10 July for Cambridge Cleantech’s annual conference. The event at the Trinity Centre focuses on the role of clean growth, innovation and sustainability. Thought leaders from government, industry and academia will discuss the future of cleantech and its pivotal role in clean growth, industrial strategy, innovation and the UN Sustainable Development Goals. See cambridgecleantech.org.uk to book a place.
takeover of Cambridge firm Frontier Smart Technologies. The two companies had been in talks over a deal, which would have seen Science Group pay 30p per share for a controlling interest in Frontier, a pioneer in technologies for digital radio and the Internet of Things. But in a statement, Science Group – which owns Cambridge product development business Sagentia – said a lack of progress in discussions meant the deal was now off.
Prowler.io, a Cambridge company behind a novel AI decision-making engine. The cash takes the company’s valuation to $100m, and backers include Chinese tech giant Tencent. Prowler’s Vuku system is already being applied to managing logistics decisions, allocating resources and assisting financial decisions in asset management. It could have a host of other applications including smart city and autonomous vehicle management. Vishal Chatrath, CEO of Prowler.io, said: “This investment is a huge sign of confidence in our efforts to be at the forefront of how enterprises use machines.”
Owlstone Medical is working with Actelion, part of the Jansson pharmaceutical
group, on a breath test for lung condition pulmonary
hypertension. The two firms will use Owlstone’s ReCIVA device to collect samples from 1000 people and try to identify Volatile Organic Compounds (VOCs) on the breath of patients, which indicate the disease. ReCIVA was developed by Cambridge- based Owlstone to detect VOCs that indicate cancer, and the novel device is now being applied to several other diseases.
ISSUE 02 44
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