News

Cambridge based Spotta, a multi-award winning provider of integrated systems for insect pest management, has secured equity investment, part-funded by the Cambridgeshire and Peterborough Combined Authority, via The FSE Group.

The investment is part of a £3.4 million funding round advancing Spotta's proprietary Artificial Intelligence and ultra-low-power Internet of Things (IoT) technology, which aims to solve the £320billion global problem of insect pests. The funding will play a crucial role in accelerating Spotta’s commercial expansion in three verticals across more than 20 countries.

Spotta's technology combines IoT and AI to deliver real-time, actionable insights for sectors adversely affected by insect pests. The company has already secured major hotel brands as customers with its Bed Pods deployed across 10000+ hotel rooms. Its 99% renewal rate in the sector is testament to the effectiveness of the technology, with a 94% detection success rate, allowing customers to achieve a 75% reduction in new bed bug issues within a year.

In agriculture, Spotta is helping farmers manage an existential threat posed by invasive pests. Deployed within crops, Spotta’s ultra-low power IoT Pods provide automatic 24/7 insect detection with information transmitted wirelessly to an AI console, enabling growers to take early action.

"Securing this investment marks a pivotal moment for Spotta," said Robert Fryers, Co-founder and CEO of Spotta. "Our technology has the potential to transform insect pest management. We have a solution that can help anywhere that insects cause issues, from helping hotels address the age-old problem of Bed Bugs, to agriculture, where we are able to increase yields by 10% whilst halving pesticide use. We are excited about the future and the positive impact our solutions will have on the environment and industry efficiency."

The company's technology not only addresses critical industry pain points but also contributes to global decarbonisation efforts. With agriculture accounting for 10% of global CO2 emissions, Spotta's ability to halve the resources consumed by insect pests could significantly reduce environmental impact.

Paul Lyristis, Investment Manager at The FSE Group, commented: "Spotta's unique combination of patented technology, robust business model, and experienced management team positions them as early leaders in their field. They have established key relationships in their target sectors - hotels, date palm production and horticultural fruit farming and we are delighted to support their growth and innovation journey."

Founded in 2018, Spotta continues to expand its market reach, envisioning growth to a £40 million revenue business by 2028. It’s scalable platform technology has the potential to enable a huge increase in productivity across a range of insect-affected markets including agriculture, forestry, textiles, and hospitality.

Cornwall-based Earth Observation (EO) technology company Aspia Space has secured a £1million equity investment from the British Business Bank’s South West Investment Fund via appointed fund manager, The FSE Group, as part of a £2.25 million funding round.

The investment supports the growth of Aspia Space’s ground-breaking land intelligence platform, which leverages two cutting-edge AI technologies: ClearSky and EarthPT. ClearSky is a deep learning algorithm that delivers uninterrupted, cloud-free satellite imaging data, and EarthPT is Aspia’s foundation model for Earth Observation.  By fusing advanced machine learning with expert human analysis, Aspia provides organisations with a consistent, regular and reliable stream of land intelligence, overcoming the long-standing issue of cloud cover impeding Earth Observation.

Founded in 2021 following extensive academic research, Aspia Space is applying its proprietary technology to some of the most critical global challenges, with applications spanning agriculture, insurance, land management, and environmental monitoring.

The company, based at Tremough near Falmouth, expects the funding to create 10 new roles within the next 12 months and anticipates building a team of over 100 by 2030.

Professor James Geach, Co-founder and Chief Scientific Officer at Aspia Space, said: “At Aspia we are passionate about bridging the gap between state-of-the-art technology at the interface of AI and EO and the consumability of land intelligence data derived from it.

“We’ve developed a market-leading, unified solution for consumers of downstream EO analytics, and this investment will enable us to deliver our products to a much broader market. This is a key milestone on our journey to becoming a £40million turnover business within five years. We’re delighted to receive this funding and are excited about the next phase of our growth.”

Together, ClearSky and EarthPT allow Aspia to monitor and interpret change on the land surface, uninterrupted by clouds. By converting streams of observational data into interpretable insights, Aspia delivers timely intelligence for its customers, enabling data-driven decision-making when it is most needed. This leads to improvements in efficiency, productivity, and sustainability across a range of sectors. 

Anna Staevska, Investment Manager at The FSE Group, commented: “Aspia Space’s technology is far ahead of the curve in a rapidly expanding market. Their strong leadership, deep scientific foundations and robust intellectual property place them in an excellent position to lead ongoing innovation in EO. Their offering outperforms many other ventures in this area, and we’re excited to support them as they work towards ambitious growth targets.”

Paul Jones, Senior Investment Manager from the British Business Bank added: “By combining world-class AI expertise with a clear vision for tackling global challenges, Aspia Space is positioning the UK at the forefront of the rapidly expanding Earth Observation market. The South West Investment Fund was created to help pioneering businesses like this realise their growth potential, create high-value jobs, and deliver real economic and environmental impact. We are delighted to support their next phase of growth.”

The EO market is expected to grow significantly over the next five years, driven by rising demand for sustainable agriculture, disaster risk management, and climate adaptation. A 2024 Deloitte and World Economic Forum report predicts the EO insights market will surpass $700 billion by 2030, playing a pivotal role in reducing global greenhouse gas emissions by two gigatonnes annually.

Aspia Space is already earning recognition from key industry players for its reliable, high-quality insights, and is well-positioned to become a leading force in EO innovation globally.

The purpose of the South West Investment Fund is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the South West. It offers a range of commercial finance options with smaller loans from £25k to £100k, debt finance from £100k to £2m and equity investment up to £5 million.

The fund is increasing the supply and diversity of early-stage finance for South West smaller businesses, providing funds to firms that might otherwise not receive investment and helping to break down barriers in access to finance.

NoBACZ Healthcare, a University of Cambridge spinout developing novel products that change the way lesions and wounds are treated in livestock and horses, has raised a £4.8m funding round led by The Yield Lab, with participation from Adjuvo, ACF Investors, the University of Cambridge, Parkwalk, The FSE Group, and Cambridge Enterprise Ventures. The investment will accelerate the global commercialisation of NoBACZ’s patented ‘liquid bandage’ technology, and support the launch of new products.

Wounds on livestock and horses are typically treated with antibiotics and then covered with cloth bandages. However, this approach is often ineffective in agricultural environments where slurry can contaminate wounds, washing off antibiotics and turning bandages into infection risks.

NoBACZ Healthcare was founded by Dr Jonathan Powell and Dr Nuno Faria following their research at the University of Cambridge’s Department of Veterinary Medicine into how the body naturally builds and utilises mineral structures for its own benefit. Initially developed to solve the problem of digital dermatitis, a disease that is painful for animals and costly for farmers – and affects a quarter of all cows at any given time – their research led to the creation of NoBACZ's patent-protected ‘liquid bandage’.

The result is a robust, flexible, and waterproof coating that can be applied as a gel, dip or spray. Unlike antibiotics and cloth bandages, it creates an instant protective barrier that seals out slurry and bacteria, allowing lesions to heal without the risk of infection even in harsh environments. The coating is durable, yet biodegradable, safe in the food chain, intuitive to apply, and antibiotic-free. Independent large-scale studies have validated its effectiveness, including a Flock Health trial on 6,840 lambs, which demonstrated significantly lower mortality rates and higher market weights compared to the current industry standard.

NoBACZ is already active in international markets, with an initial focus on the UK, Ireland and Europe, alongside launches in New Zealand, the USA and Australia. The investment will be used to finalise its new pipeline of products and accelerate the commercialisation and global distribution of its existing products. In parallel with the veterinary product roadmap, they are also defining their human product opportunity.

Dr Jonathan Powell, CEO and Co-founder of NoBACZ Healthcare, said: “We founded NoBACZ Healthcare with the goal of transforming healthcare solutions for a more sustainable future whilst reducing antibiotic use. This new funding will fuel our expansion as we broaden our global product reach, launch our new range of products for the equine industry and continue to develop innovative veterinary healthcare solutions. In parallel to the veterinary product roadmap, we are starting to define our human product opportunity. We are at a pivotal and exciting moment in our company’s journey, and we look forward to working with our new and existing investors on the next phase of our growth.”

Jonathan Day, Investment Manager at The FSE Group added: “We are delighted to be joining a strong syndicate of investors in supporting NoBACZ during its next phase of growth. This exceptional management team have combined deep sector expertise with innovative technology to produce a solution that improves efficiency, effectiveness, and environmental stewardship in farming, outperforming the current market offering by some margin. We look forward to seeing them build on their impressive early adoption by UK veterinary practices, across international markets.”

Dorset-based business consultancy COGENT Executive, has secured a six-figure investment from the British Business Bank’s South West Investment Fund via appointed fund manager, The FSE Group.  

The funding is set to bolster the company's expansion efforts, primarily by enabling new staff hires, and enhancing marketing activity to support its growing client base. 

Founded in 2020 by CEO John McLaughlin, COGENT Executive has rapidly established itself as a leader in business consultancy. Leveraging over 25 years of experience, John has championed a delivery-first approach to transformation, working alongside senior leaders to make things happen and redefine how organisations address complex challenges. This approach has resonated with businesses, allowing COGENT to secure a growing number of high-profile, multi-national clients. 

With a robust pipeline of business opportunities, the South West Investment Fund loan will play a crucial role in expanding COGENT’s team, increasing its capacity to deliver its services to a broader range of customers. 

John McLaughlin, CEO of COGENT Executive, said: "Securing funding for growth-related activities isn’t easy, with most lenders unwilling to lend against forecasted growth. FSE took the time to understand our offering and our pipeline. We’re thrilled to receive this South West Investment Fund loan, which will enable us to capitalise on the opportunities available." 

Rob Ward, Investment Manager at The FSE Group, added: "We’re delighted to provide this funding, marking the launch of COGENT 2.0. This step-change in capability and ambition is enabling the business to scale its impact, expand its senior team and take on more complex, high-value assignments. We look forward to working with John as the business takes this new direction." 

Paul Jones, Senior Investment Manager at the British Business Bank said: "COGENT Executive’s growth plans show the type of ambition the South West Investment Fund is here to support. By helping businesses build their capacity and reach new markets, we’re contributing to long-term economic growth across the region. We’re pleased to see the fund helping COGENT Executive unlock new opportunities through access to tailored finance.” 

The purpose of the South West Investment Fund is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the South West. It offers a range of commercial finance options with smaller loans from £25k to £100k, debt finance from £100k to £2m and equity investment up to £5 million. 

The fund is increasing the supply and diversity of early-stage finance for South West smaller businesses, providing funds to firms that might otherwise not receive investment and helping to break down barriers in access to finance. 

Leeds based digital education specialist AXOL plans to grow its client portfolio with investment from Finance Yorkshire.

Entrepreneur Sam Jordan launched his business three years ago in response to the increasing demand for e-learning post the Covid pandemic.

Independent education providers are using Merve developed by AXOL to launch their own online learning platforms to deliver courses. Businesses are also looking to Merve for their internal training needs.

A £65,000 investment from Finance Yorkshire’s loan fund is supporting AXOL’S marketing strategy to attract new clients. The investment has also enabled the business to recruit another web developer.

Sam started his career as a web developer when he was 16. He went on to provide consultancy and IT support to businesses in Australia before returning to the UK, working in software development and digital translation services for the NHS and MoD.

Sam said: “Throughout my years of experience consulting with EdTech start-ups and scale-ups, we've undertaken third party research to validate the efficacy of our education technology and seen a substantial benefit for students.

“Digital learning enables students to learn at their own pace, providing educators with valuable insights and time to mentor those who need it. We work with clients to build or enhance their online courses and the overall e-learning experience of their students.

“The Merve platform takes all our learnings and experience, offering the ability for anyone to host their own online learning platform for a small monthly fee.”

AXOL’S e-learning platform brings several education technology tools under one umbrella – course content management, user management and compliance with regulations such as GDPR.

Sam added: “Finance Yorkshire saw the potential in what we are trying to achieve. With it’s backing, I’m confident we will succeed.”

Alex McWhirter, Finance Yorkshire’s CEO, said: “Sam has considerable experience in the digital sector which has led him to develop an innovative e-learning platform for students.

“The digital sector is thriving at both regional and national level and will contribute to the increase in growth and wealth in the Yorkshire region.

“Finance Yorkshire is supporting AXOL’S ambitions to attract more clients and grow the business from its Yorkshire base.”