Decoding #Investment
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12 August 2022
Maddymoney startup investment-news

Hope for NHS staffing woes, EV journey planning and easier cohabiting all star in this week’s MaddyMoney

Every week, Maddyness brings you the latest investment news from the UK startup ecosystem. Here's a recap of this week's investments.

Number of deals

Proptech company COHO raises additional £500k

Worcester-based COHO raises a further £500K from existing investors MEIF Proof of Concept & Early Stage Fund, as it continues in its quest to become the Airbnb for house shares.

COHO is the only platform of its type designed for houses of multiple occupation (HMOs). It allows property investors to manage their portfolio and tenants to find a house share with like-minded people.

The funding will enable it to scale the platform, strengthen its management team and continue its rapid growth, currently at 20% month on month. The latest funding brings the total raised by the company to £750K and will help it continue its growth trajectory with the aim of raising a Series A funding round in the next 12 months.

Zap-Map raises £9M to build on its subscription base and initiate international expansion.

Bristol-based Zap-Map has secured £9M in a Series A funding round. £5.3M of the new investment came from Fleetcor, the global fuel card and payment provider, whilst Good Energy – the 100% renewable electricity supplier and energy services provider – invested the other £3.7M.

Zap-Map, is the ‘go-to’ app for the EV driver and for EV charging data. It is aiming to play a key role for all EV drivers in the transition from petrol and diesel cars, by enabling drivers to search, plan and pay for EV charging in one app, whilst receiving real time updates in car.

The capital will go some way towards building on its paid-subscription services and initiating the company’s international expansion. The funds raised are also expected to fuel the expansion of Zap-Map’s development team to deliver its product roadmap.

Personal training app Another Round raises six-figure sum in bid to revolutionise personal training.

Pure Gym founder Peter Roberts and his team invested an undisclosed six-figure sum into the London-based fitness startup Another Round amidst a period of rapid growth for the company. Roberts is also joining the board to support Another Round’s growth plans.

The remote personal training app is uniqueness is that it is enhanced with machine learning. Another Round applies its proprietary artificial intelligence to personal training, aspiring to make it a more accessible, convenient and effective experience than conventional applications. The app is priced at £65 per month, equivalent to around £5 per training session.

The virtual fitness business is using the investment to accelerate the rapid growth of its community, build a world-class team of coaches and advance its product capabilities. With a loyal consumer customer base and plans to enter the corporate market in 2023, the investment places the company in a strong position to capitalise on the growth of the online fitness market, projected to exceed $30B in 2026.

Patchwork Health raises £20M to tackle the NHS staffing crisis

Patchwork Health, a healthcare workforce platform built by NHS doctors, has raised a £20M Series B round to accelerate its work tackling the NHS staffing crisis. The round was led by Perwyn, backed by Praetura Ventures and KHP Ventures, and joined by prominent angel investors including Monzo founder Tom Blomfield.

London-based Patchwork provides tech-powered solutions that address staffing challenges and allow NHS teams to manage their workforce through one integrated platform. Their technology enables staff to have their personal needs and preferences factored into their rota, promoting better work-life balance and stemming the flow of staff resigning due to burnout. This investment is timely given 1-in-5 have said they are likely to leave the organisation within the next year.

Patchwork, which has scaled its team to over 100, will use this investment to further strengthen their customer-facing teams, ensuring partners continue to receive the necessary level of support. The funds will also accelerate the development of new products and features for their healthcare clients, expand into international markets, and bring their services to new areas of health.

In other international investment news

LiveEO secures €19M to bring space data insights to Industry 4.0

Satellite analytics provider LiveEO has secured €19M investment. The round was led by MMC Ventures and includes €17M of venture capital, as well as further funds from the European Commission and Investitions bank Berlin. All existing shareholders continue to back the company, whilst Segenia Capital and Hannover Digital Investments joined the round as new investors.

LiveEO’s core product is an infrastructure monitoring suite powered by satellite imagery. The company uses artificial intelligence to analyse Earth Observation data, and gives operators of railways, power lines and pipelines actionable information on the risk posed by vegetation, ground deformations, or third parties.

The new funds will accelerate LiveEO’s global market expansion for its infrastructure monitoring products and fund entry into new markets such as insurance. “LiveEO’s technology offers companies and institutions an efficient and smart way to monitor fixed assets. This enables potential damaging events to be detected and prevented at an early stage,” says Ulrich Wallin, HDInv managing director and former CEO of Hannover Re, the world’s third largest reinsurance company.

Southeast Europe-focused online pharmacy Apotekamo raises €2.5M

Apotekamo, the Stockholm-based startup providing online pharmaceutical marketplaces has raised €2.5M, with Bayern Munich Sporting Director Hasan “Brazzo” Salihamidžić becoming a new major shareholder.

Apotekamo, a portfolio company of Swedish venture builder EPTI (, is a leading online pharmacy focusing on Southeast Europe. In addition to a comprehensive range of both over-the-counter and prescription drugs, the company provides digital services regarding order processing and payment solutions for external suppliers on Aptekamo’s platform.

The newly raised capital will be used for further geographical expansion, marketing activities, and development of the company’s logistics solution.