Edinburgh tech firm at forefront of circular economy secures £1.5 million growth boost
Topolytics is behind a data analytics platform that is said to make the world's waste “visible, verifiable and valuable”. It has secured the funding from seasoned high-net worth investors and a grant from UK Research and Innovation (UKRI). The firm targeted private investors who would bring experience of scaling data analytics and SaaS (software as a service) businesses globally.
The seven individuals are based in the US and the UK, and a number of the US-based investors have built, scaled and exited billion-dollar financial data companies. The others are “noted players in private equity and investment banking”, with track records of investing in and supporting high growth software and data companies.
Michael Groves, chief executive of Topolytics, said: “Topolytics has a growing global reputation for the insights available through our WasteMap platform. It helps waste producers and recyclers to drive resource and cost efficiencies, to trace the movement of waste and measure their impact, whilst validating performance and improving the quality and reliability of ESG [environmental, social and corporate governance] and carbon reporting. It is a privilege to be working with some leading players in their sectors, UK and international businesses alike, that see great commercial and environmental benefit from taking a fresh look at waste.”
Director Jane Stewart added: “Topolytics is delighted to secure investment from high-net-worth investors who bring significant depth of experience in globally scaling data analytics and software businesses.”
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