Partful Raises £5M to Revolutionise 3D Aftersales Automation

Manchester-based aftersales tech company Partful has secured £5 million in a funding round led by Northern Gritstone, alongside investments from Par Equity and US-based Blumberg Capital. The funding will accelerate the development of Partful’s automated 3D SaaS platform, positioning the company for growth in the $640 billion aftermarket sector.

Partful’s platform provides interactive 3D models that allow users to identify and order components for original equipment manufacturers (OEMs) quickly and efficiently. By automating the creation of these 3D parts catalogs, the platform enables OEMs to upload data such as CAD files and Bills of Materials, dramatically reducing production times from weeks to hours.

Sam Burgess, CEO and founder of Partful, described the funding as a critical milestone:

"This next iteration of our platform will help OEMs overcome challenges, support their customers, reduce costly order errors, and maximise revenues. We’re thrilled to have the backing of Northern Gritstone, Par Equity, and Blumberg Capital to make this vision a reality."

Northern Gritstone CEO Duncan Johnson praised Partful’s growth trajectory:

"This innovative Manchester-based company has already attracted major OEM customers and will bring more jobs to its North of England team. We’re excited to support their expansion."

Since its seed funding round in January 2022, Partful has raised £11.2 million and counts Maeving, Lear, Kolpak, Triangle Tube, Ideal Heating, and Allett Mowers among its clients. With this latest investment, the company is poised to further strengthen its foothold in the global aftermarket industry.

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Momentus Technologies’ WeTrack Unveils AI-Powered Risk Management Platform

WeTrack, a London-based brand specialising in planning, sustainability, risk, and control software—and owned by Momentus Technologies—has announced the launch of its new AI-powered functionality. This innovation is set to redefine risk and incident management for the sports, events, and venue industries. Renowned for its cutting-edge planning, sustainability, risk, and operations software, WeTrack continues to empower organisations with advanced tools designed to streamline complex operations and enhance collaboration.

The newly introduced AI-driven risk management solution sets a benchmark for precision in identifying, categorising, and mitigating risks. Leveraging sophisticated language models, WeTrack's platform provides businesses with actionable intelligence by interpreting and aligning risks across multiple categories, regardless of variations in phrasing or classification.

"At Momentus, we are redefining risk management with WeTrack's AI-powered risk library," said Joel Sackett, Chief Product Officer at Momentus. "This solution focuses on clarity, precision, and relevance, adapting to the unique needs of each organisation. Whether it's addressing financial liability or navigating regional complexities, WeTrack empowers businesses with smarter insights to manage uncertainty confidently."

Key Features of the AI-Enhanced WeTrack Platform

• Customisable Risk Categories: Organisations can tailor the platform to align with their specific risk management needs.
• AI-Driven Precision: Advanced language models analyse and adapt to industry-specific terminology and priorities.
• Comprehensive Coverage: The platform supports seamless risk management across diverse venues, regions, and industries.

The solution is particularly beneficial for enterprises managing intricate operational landscapes. For instance, businesses dealing with financial liability can ensure all relevant risks are categorised with precision, providing unmatched data alignment and accuracy.

“We’re excited to see how businesses will leverage WeTrack to reimagine their risk management strategies,” said Alex Alexandrov, CEO of Momentus Technologies. “Our mission is to deliver technology that supports exceptional and secure experiences. This release of AI functionality marks a major step forward for the venues and events industry.”

A New Era in Risk Management

As industries face increasingly complex challenges, WeTrack’s platform is designed to evolve alongside organisations, helping them anticipate and mitigate potential risks proactively. With a focus on creating secure and optimised operations, WeTrack reinforces its position as a trusted partner for global SaaS-driven solutions in the events and venues market.

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Nscale Raises $155M in Landmark Series A to Expand AI Hyperscaling

London-based AI hyperscaler Nscale has secured $155 million in one of the largest Series A funding rounds in the UK this year, signaling strong investor confidence in its mission to revolutionise AI infrastructure. The funding will fuel the company’s ambitious growth plans as it meets the surging compute demands of AI scale-ups.

Founded by Joshua Payne, a serial entrepreneur with a track record of scaling sustainable technology ventures, Nscale officially launched from stealth in May 2024. Payne previously founded and chaired Arkon Energy, a company specialising in renewable energy-powered bitcoin mining solutions. Leveraging his experience in energy-efficient technologies, Payne co-founded Nscale to address the pressing need for high-performance yet sustainable AI infrastructure.

Nscale designs cutting-edge data centres optimised for large supercluster deployments, catering to global hyperscalers and large language model (LLM) platforms. Its proprietary closed-loop direct liquid cooling technology enhances efficiency while minimising environmental impact—a reflection of Payne’s focus on sustainable innovation.

Ambitious Expansion Plans

The newly raised funds will enable Nscale to expand its greenfield data centre pipeline from 300MW to 1.3GW across Europe and North America, with 120MW slated for development in 2025. The company claims it can deploy bespoke GPU clusters tailored to customers’ needs faster and more cost-effectively than competitors, setting a new standard for scalable AI infrastructure.

Additionally, Nscale plans to launch a public cloud service early next year, offering developers access to purpose-built inference and training solutions in a flexible development environment.

Investor Confidence

The Series A round was led by Sandton Capital Partners, with participation from Kestrel 0x1, Blue Sky Capital Managers Ltd, and Florence Capital. 

Rael Nurick, Co-Founder at Sandton Capital Partners, highlighted Nscale’s unique position in the market:

“With a notable founder track record, established industry partnerships, and a vertically integrated approach, Nscale is building the hyperscale AI platform to power enterprise AI at scale.”

CEO Joshua Payne expressed enthusiasm about the company’s trajectory:

“The AI market is scaling rapidly, and so are we. With the support of our investors, we can now reach more customers globally with sustainable, cost-effective AI infrastructure that unlocks new AI capabilities, products, and services.”

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Lunio Names Nick Morley as New CEO to Drive Growth and Global Expansion

Manchester-based adtech company and Neil Andrew led Lunio has appointed industry veteran Nick Morley as its new CEO, signalling a fresh phase of growth and international expansion for the martech scale-up.

Morley, who has held senior roles at Adobe, Efficient Frontier, and Integral Ad Science (IAS), takes over from founder Neil Andrew, who will move into the role of Chief Strategy Officer. Morley has served as Lunio’s board chair since March 2024 and will now oversee its executive leadership.

Addressing Invalid Traffic and Market Demand

Lunio’s platform targets the issue of invalid traffic (IVT), which now accounts for an average of 8.5% of global digital ad spend, equating to approximately $71 billion in annual losses. The company’s technology aims to help advertisers reduce wasted ad spend, improve engagement with genuine prospects, and optimise marketing performance.

According to Lunio, businesses that spend $1 million annually on advertising with a 3:1 return on ad spend (ROAS) could lose $50,000 to invalid traffic and miss out on $150,000 in additional revenue due to inefficiencies.

Leadership and Industry Background

Nick Morley brings extensive experience to the CEO role, having led the European operations of IAS through a period of significant growth that culminated in its IPO in 2021. He also played a key role in expanding Efficient Frontier internationally before its acquisition by Adobe for $400 million.

Morley commented on his appointment, stating that Lunio is addressing a growing challenge for businesses across industries, noting rising rates of invalid traffic as a significant issue. He also outlined plans for product development and strategic partnerships to meet the needs of performance marketers.

Funding and Investor Support

The leadership change follows Lunio’s $15 million Series A funding round in September 2022, which was backed by Smedvig Capital, Praetura Ventures, and an angel fund including leaders from companies such as Google and Warner.

Investors have expressed confidence in Morley’s leadership. Joe Knowles of Smedvig Capital described Morley’s track record in scaling marketing technology businesses as “formidable,” while Colin Greene of Praetura Ventures highlighted his contributions as chair and vision for Lunio’s future.

Strategic Transition

Founder Neil Andrew will remain with the company as Chief Strategy Officer, focusing on long-term strategy and leveraging his experience to support the company’s next phase.

The announcement comes as Lunio positions itself to address the evolving needs of advertisers and expand its geographical footprint in the coming years.

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Netacea Secures £4M Funding to Expand AI Capabilities and Combat Online Fraud

Manchester-based cybersecurity firm Netacea, founded by Jeremy Gidlow & Andy Still as a spin-out from Intechnica Holdings, has secured £4 million in funding from Mercia Asset Management. The investment, drawn from Mercia’s own funds and the first Northern Powerhouse Investment Fund (NPIF I), will support Netacea’s continued growth, product development, and expansion of its AI capabilities.

With bots responsible for more than half of online fraud cases, and advances in offensive AI making these threats more sophisticated, Netacea’s AI-driven platform stands out. The company’s fifth-generation technology not only detects and blocks live attacks often missed by traditional systems but also provides predictive insights into future threats.

Central to Netacea’s innovation is its BLADE framework, an open-source model that maps every stage of a cyberattack, from initial planning to the monetisation of stolen assets. This framework is rapidly gaining recognition as a standard for business security teams, and Netacea continues to enhance its suite of solutions to address every phase of the attack lifecycle.

Founded in 2022, Netacea has grown rapidly, boasting a client base that includes major global retailers and leading brands. The company reported a 29% revenue increase in the financial year ending March 2024 and is on track for further growth. CEO Mick Bradley emphasised the urgency of tackling online fraud, which is projected to reach $7.95 trillion by 2027, highlighting Netacea’s role in combining threat intelligence with intent-based analytics to outperform traditional security measures.

Angela Warner of Mercia Asset Management praised Netacea’s leadership in the cybersecurity sector, emphasising Mercia’s commitment to fostering innovation in critical areas like bot detection and threat intelligence. She also highlighted the importance of the newly launched Northern Powerhouse Investment Fund II (NPIF II), a £660 million fund aimed at supporting the growth of small and medium-sized businesses across Northern England through loans and equity investments.

This funding underscores Netacea’s position as a trailblazer in cybersecurity, as well as the broader momentum within the North’s innovation ecosystem, driven by strategic investment initiatives like NPIF II.

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