Pico, Spinview, Melius Cyber Consultancy and Trialwell Secure Tech Funding

Life's good in London, Newcastle, Leicester and beyond.

Things are moving along well for Pico, Spinview, Melius Cyber Consultancy and Trialwell as they have all grabbed some tech funding.

Pico, a provider of technology services, software, data and analytics for the financial sector, has signed an agreement for a $200 million (£169 million) investment from Golden Gate Capital.

Visual intelligence firm Spinview has raised £5.5 million in a pre-Series A funding round to develop its enterprise metaverse solution for the built environment.

Melius Cyber Consultancy has secured £350,000 pre-Seed investment from the North East Venture Fund, supported by the European Regional Development Fund and managed by Mercia.

Liverpool-based venture builder Nova has announced a £195,000 investment into Trialwell – an online digital platform that allows for access to clinical trials free of charge.

Peek at Pico

Pico’s HQ is in New York, and it has offices in Chicago, London, and across Europe and Asia. It offers access to financial markets via PicoNet, a network platform instrumented natively with Corvil analytics and telemetry.

The fintech company says the capital will be used to pursue M&A opportunities, as well as “other general corporate purposes”.

Pico was founded in 2009. It offers financial services spanning 55 data centres in the Americas, Europe and Asia. The firm has more than 430 clients, including the top 25 global banks, 39 exchanges, electronic market makers and asset managers.

Existing Pico investors and clients include Goldman Sachs Asset Management, Wells Fargo Strategic Capital, JP Morgan, UBS, CE Innovation Capital, DRW Venture Capital, Intel Capital, Singapore-based investor EDBI, Nomura and Chicago Trading Company.

Pico does have a track record of acquiring and integrating companies into its technology platform. In 2019 it acquired trading and enterprise analytics solution Corvil Analytics. In January 2022 it bought Redline Trading Solutions, a provider of trading and market data software solutions.

Spinview Visibly Excited

London-based Spinview was established in 2015. Among the investors are management consultancy Alchemmy, the Future Fund and various angel investors. The latest funding round takes its total investment to £8 million.

Spinview creates measurement volumetric digital twins of buildings and infrastructure to deliver insights on the health and structure of a building or space. It combines IoT, building information modeling (BIM), scanning and visualisation, and then data is processed into a visual model of the asset. Its AI translates and automates this data into information for businesses.

The tech company will use the funding to develop the intellectual property for its platform and the corresponding hardware for data capture as part of the process of creating 3D models.

Founded by ex-consulting director Linda Wade and entrepreneur Zoran Grahovac, Spinview employs 28 people across the UK, Sweden, US, Serbia and India with a global network of subcontractors and distributors. Clients include Transport for London, Norwegian Military, SKF and JC Decaux.

Melius Cyber Feels Better

Melius Cyber Consultancy has developed an automated software that helps SMEs detect vulnerabilities in their IT system. (‘Melius’ is the Latin word for ‘better’.)

The firm offers CyberSafe, which automates the process of vulnerability scanning and penetration testing, in which cyber staff simulate attacks to detect weaknesses in the system.

The Newcastle-based company will use the funding for sales and marketing, develop the platform and recruit more personnel. Melius Cyber currently employs eight staff, and it is planning to create five new jobs in the next six months.

Melius Cyber was founded in 2019 by Dave McPherson, a former IT specialist with the Bank of England. The company is a spin-off from Melius Group, a Newcastle-based IT services business he founded seven years earlier.

All’s Well at Trialwell 

Leicester-based Trialwell was founded in 2020, and connects researchers, patients and healthcare providers.

The startup wants to let the public discover and enrol in a variety of clinical trials. Its ambition is that users take charge of their own health and wellbeing, while supporting the further development of new treatments and preventative strategies for all.

Using AI technology, Trialwell matches users’ health profiles to upcoming clinical trials and resources.

Laura Holland, doctor of integrative medicine and Trialwell Founder, pitched her concept to the Nova investment panel earlier this year.

Holland explains: “After working in the industry for many years, one of the main challenges we face is a significant lack of awareness about clinical trials and their potential to be a source of help. Especially trials studying natural treatments and preventative medicines, which could be beneficial for so many of us.”

As part of the deal, she now has access to Nova’s product developers, marketing team, videographers, business mentors and more.

Antony Peyton
Antony Peyton
Antony Peyton is the Editor of eWeek UK. He has 18 years' journalism and writing experience. His career has taken him to China, Japan and the UK - covering tech, fintech and business. Follow on Twitter @TonyFintech.
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