Stora Secures £1.3 Million in Series A Funding
Deal News | Dec 20, 2024 | UK Tech Funding
In a traditionally quiet period for funding, UK-based technology companies have secured significant investments this week. A total of £9.3 million was tracked in UK tech investments. Among the notable deals, Stora, a Banbridge-based SaaS company, received £1.3 million in a Series A funding round that aims to automate administrative tasks for self-storage facilities. The investment was led by the Investment Fund for Northern Ireland. Edinburgh's Concinnity Genetics, a biotech spinout, raised £3 million in a Series A round from Eos Advisory to further its development of gene therapies. Additionally, Aurrigo, an autonomous vehicle firm from Coventry, raised £5 million through public market participation for its Auto-DollyTug, an autonomous baggage and cargo tractor. These investments illustrate a vibrant sector showing resilience even as the year winds down.
Sectors
- SaaS
- Biotech
- Autonomous Vehicles
Geography
- United Kingdom – The article outlines funding deals involving UK-based companies, with operations in Northern Ireland, Edinburgh, and Coventry.
Industry
- SaaS – Stora operates in the SaaS sector by providing software solutions to automate operations for self-storage facilities.
- Biotech – Concinnity Genetics is developing innovative gene therapies, placing it within the biotech industry.
- Autonomous Vehicles – Aurrigo is a company focused on developing autonomous vehicle solutions such as the Auto-DollyTug.
Financials
- £1.3 million – Series A funding raised by Stora.
- £3 million – Series A funding raised by Concinnity Genetics.
- £5 million – Capital raised through public markets by Aurrigo.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Stora | Target company | Company | Stora is a Banbridge-based SaaS company creating software to automate tasks for self-storage facilities. |
| Investment Fund for Northern Ireland | Investor | Company | This is the investment entity funding Stora's Series A round. |
| Concinnity Genetics | Target company | Company | Concinnity Genetics is an Edinburgh-based biotech spinout developing gene therapies. |
| Eos Advisory | Investor | Company | Scottish investor backing Concinnity Genetics' Series A funding round. |
| Aurrigo | Target company | Company | Aurrigo is a Coventry-based autonomous vehicle company developing the Auto-DollyTug. |