Isotropic blasts off with £28m funding round
Satellite technology firm Isotropic Systems has raised over $37m (£28m) in its latest funding round, led by listed space-tech fund, Seraphim Space Investment Trust. The funding round will allow Isotropic Systems to launch its ground-based multi-link antenna in 2022, which will connect multiple satellites in different orbits revolutionising satellite connectivity. This increased connectivity will give users across aerospace, shipping and business uninterrupted high-speed broadband, be they on a plane, train or ship.
To date, Isotropic Systems has raised over $100m in funding and has grown its workforce by 40 per cent in the past five months, as well as opening a new testing and technology centre in Reading.
bp ventures makes first Indian investment
bp ventures has made its first direct investment in India, investing $13m (£9.6m) in electric taxi and charging company BluSmart. It led a $25m Series A round that was also backed by Mayfield India Fund, 9Unicorns and Survam Partners, alongside other existing investors. BluSmart will use the capital to expand its fleet of electric vehicles and charging stations from its home city of Delhi to five additional Indian cities in the next two years.
Smedvig prescribes £6.2m for medical data platform Heydoc
Heydoc, software for managing patient data and medical records, has closed a $8.3m (£6.2m) Series A round led by Smedvig Capital with existing investors Hambro Perks, Triple Point Ventures and InHealth Ventures also participating. This brings the total amount raised so far by Heydoc to $12m.
Deepbridge sells renewable energy EIS to private buyer
Deepbridge Capital has sold its renewable energy EIS fund to a private buyer, giving investors a 1.146x return on investment on top of any tax breaks. Deepbridge Renewable Energy Ltd builds and manages wind turbines in Northern Ireland.