Participated · Seed · Jun 2023

About:Energy is a London-based battery software company founded in 2021 by Gavin White and Kieran O’Regan, spun out of Imperial College London and the University of Birmingham. The company develops a portfolio of battery measurement and modelling capabilities and offers a proprietary software platform called The Voltt for battery design. The Voltt workflow provides a comprehensive library of commercially available cells and their attributes alongside advanced modeling to support battery selection, design and supply decisions. Its solution targets faster adoption of sustainable technologies, extended lifetime of battery systems, and reduced material requirements. About:Energy raised £1.5M in Seed funding and plans to use the proceeds to accelerate global adoption of The Voltt, scale its London battery lab, and expand the team. Named participants in the round include HighSage Ventures, Vireo Ventures, OakNorth CEO Rishi Khosla, Plug and Play Ventures, Electric Revolution Ventures, Fabrice Bernhard, Laura Webster (Coltrane Asset Management Partners), Mandeep Manku, Nick Banner and others.

Participated · Equity · Sep 2018

OakNorth is a UK challenger bank and fintech whose product suite includes a 'Credit Intelligence' software for commercial lending. The company sells software intended to enhance banks' commercial-lending propositions and decisioning. Sumitomo Mitsui Banking Corporation (SMBC) has deployed OakNorth’s Credit Intelligence in the US and Asia. SMBC also invested $30 million in OakNorth via a secondary transaction as part of the relationship. OakNorth previously received a £90 million investment from GIC almost three years ago. According to Crunchbase, the company has raised more than $1 billion to date. OakNorth builds a digital bank focused on fast, flexible loans to small and medium enterprises and property developers in the U.K. It uses big data and machine learning to assess credit risk and monitor loan portfolios. The company also licenses its OakNorth Analytical Intelligence platform to other banks for loan origination, credit analysis and portfolio monitoring, with multiple banks using it across the U.S., Europe and Asia. OakNorth has lent more than $3.7 billion overall with no reported defaults or late payments, and it manages 34,000 savings accounts for individuals and businesses. The company plans to double down on its existing business and expand into the U.S. via partnerships and loan origination rather than opening a U.S. bank. Prior to this round it had raised $848 million in primary funding since its creation. Launched in September 2015 by Rishi Khosla and Joel Perlman, OakNorth provides fast, flexible debt finance (typically £500k–£40m) to businesses and established property developers and investors. The bank also offers a range of FSCS-protected savings products for individuals and businesses, including fixed-term, easy-access, notice and cash ISA accounts. OakNorth is authorized by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the PRA; it has a loan book of £1.7bn and raised deposits from about 20,000 savers. The company operates ACORN machine, a cloud-based fintech platform that leverages machine learning to automate credit decisioning and portfolio monitoring and to help banks enter the SME lending market. Clients span nurseries, hotels, care homes, private equity firms, restaurants and well-known property developers and retailers. OakNorth has offices in London, New York and Singapore, employs almost 100 people, and expects to have over $5bn of assets under service on its platform by year end. OakNorth is a London, UK-based bank providing debt finance from £500k to £25m to fast-growth businesses and established property developers. The bank has launched ACORN machine, its fintech platform for lenders worldwide, built on three pillars: data, technology, and process. ACORN collects millions of data items and uses machine learning algorithms to surface the pieces of data lenders need for credit decisions. The technology environment is java- and web-based and cloud-hosted via AWS, combining proprietary and best-of-breed components. Clients include Leon, Galliard Homes, Frogmore, Brasserie Blanc, Strawberry Star and The Collective. OakNorth is authorized by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the PRA and is positioning to expand in the US, European and Asian markets.