Latest news with #MavenCapitalPartners
Finextra
7 days ago
- Business
- Finextra
Maven leads £5 million investment in Approov
Approov Limited ('Approov'), a mobile app security software business, has secured a £1.2m investment from the Investment Fund for Scotland, managed by Maven Capital Partners ('Maven'). 0 This is part of a £5 million funding round with participation from Souter Investments, and existing investors Lanza techVentures and Scottish Enterprise. Approov has developed patented mobile security technology that protects apps and APIs from AI-driven threats by using a cloud-first approach, offering a stronger and more reliable alternative to traditional code obfuscation. Its mobile security solution ensures only genuine, unmodified apps running in trusted environments can access your backend services. It works by continuously verifying app and device integrity to stop bots and tampered apps with real time analytics and cloud based secret management to protect mobile apps and APIs. As winner of the Cyber Innovation Award at this year's Scottish Cyber Awards, Approov's solution has already established a strong presence in the global automotive and financial service sectors. The mobile RASP market is a fast-growing subsegment of the cyber security industry, driven by the proliferation of mobile threats and increased demand for embedded, in-app security. Enterprises are proactively embedding security within app development lifecycles to combat rising incidents of reverse engineering, app tampering, and overlay attacks. Approov's technology protect apps from tampering and fraudulent API access, offering a critical defence in today's rapidly shifting cyber threat landscape. This funding milestone will enable Approov to bolster its R&D team in Edinburgh, driving the creation of advanced technologies to secure mobile applications and APIs against evolving threats in real time, including those powered by AI. The investment will also allow the business to invest in its sales and marketing operation as it grows its market reach, diversifies into new sectors and expands its international footprint. Craig McGill, Investment Manager at Maven, said: 'Approov is a leading innovator in mobile app and API security with proven applications in multiple target sectors. With their strong IP and the growing demand for API-level defences across the industry, the business is uniquely positioned to lead this next era of mobile security. We look forward to working with Ted and the team to drive the business forward at such an exciting point in the company's growth journey.' Ted Miracco, CEO of Approov, said: 'As the threat landscape continues to evolve, developers and enterprises alike are recognizing that mobile app security cannot be an afterthought,' said 'This funding marks a pivotal moment in our mission to ensure that every mobile app instance is authenticated and that backend APIs are protected from fraud, abuse, and unauthorized access.' Sarah Newbould, Senior Investment Manager at Nations & Regions Investment Funds, the British Business Bank, said: 'Approov is a strong example of a Scottish company developing smart technology to tackle a global challenge. As mobile apps and APIs become central to business, protecting them from increasingly sophisticated threats, including those driven by AI, is critical. We're pleased the Investment Fund for Scotland is able to support Approov as it grows its team in Edinburgh and expands into new markets. This investment reflects IFS's commitment to backing ambitious companies with the expertise to drive Scotland's tech sector forward.'
The Herald Scotland
30-04-2025
- Business
- The Herald Scotland
Scottish firm backed by investment fund to create new jobs
The money has been provided by the Investment Fund for Scotland, which is managed by Maven Capital Partners and the Scottish National Investment Bank. Read more: NCIMB's facility at the Wellhead Industrial Estate opened in 2023 and includes microbiology labs, cold storage and molecular suites. Chief executive Edward Green said the fresh investment will allow the company to meet growing demand and create new jobs. "The funding is transformational for the business, allowing us to scale in the northeast of Scotland and better support our customer's needs in life sciences," he said. "In addition, it allows us to deliver our long-term vision to deploy our unique microbial platform to deliver impactful biotechnology solutions addressing grand societal challenges including decarbonisation, climate change, food security and healthy living.' The £150m Investment Fund for Scotland is designed to drive sustainable economic growth by supporting innovation and creating local opportunities for new and growing businesses. It does this by providing early-stage funding to firms that might not otherwise receive investment. Businesses previously backed by the fund include the long-established Wilsons Pet Food, water treatment specialist Scotmas Group, and premium Indian ready meals business Praveen Kumar. The fund provides loans from £25,000 to £2m, and equity investment of up to £5m. 'NCIMB is globally recognised for its culture collection and for delivering high-quality microbiology services and is uniquely positioned to meet growing market demand for contract research organisations with deep domain expertise," said David Milroy, partner at Maven. "This investment will allow the company to scale its commercial operations, expand its licensing business, and enhance its service offering to customers worldwide. We are delighted to join the team at this point in the company's journey and look forward to helping them further scale the business.'
Press and Journal
29-04-2025
- Business
- Press and Journal
How Aberdeen bacteria collection is tackling world's biggest problems
A pioneering lab in Aberdeen that stores some of the world's most useful bacteria has received a £1.7 million investment to scale its operations and tackle some of today's most urgent scientific challenges. Dyce-based biotech lab NCIMB is home to the UK's largest bacterial culture collection, the National Collection of Industrial, Food and Marine Bacteria. These microscopic powerhouses drive innovation across industries — from pharmaceuticals and sustainable technologies to food safety and even the science behind keeping your home smelling fresh, thanks to products like Febreze. NCIMB plays a key role in preserving and supplying them from its £4m purpose-built base in Wellheads Industrial Estate. The funding, from Maven Capital Partners and the Scottish National Investment Bank, will support NCIMB's ambitious growth plans. Opened in 2023, the state-of-the-art premises feature advanced microbiology labs, cold storage, and molecular suites. Dr Edward Green, NCIMB's chief executive, said the investment would allow the business to meet growing demand and create new local jobs. 'The funding is transformational for the business, allowing us to scale in the north-east of Scotland and better support our customers' needs in life sciences,' he said. 'It allows us to deliver our long-term vision to deploy our unique microbial platform to deliver impactful biotechnology solutions addressing grand societal challenges including decarbonisation, climate change, food security and healthy living.' The company plans to grow its team from 23 to 30 employees by the end of this year. Founded in 1982 with the University of Aberdeen's original bacteria collection — which dates back more than 75 years — NCIMB now holds over 10,000 strains. Many of these microbes are already used to produce everyday essentials, such as antibiotics, food ingredients, and industrial enzymes. 'It has been collected over many decades and serves as a national reference collection for anyone who wants to get hold of a microbial strain, primarily for some beneficial purpose,' added Dr Green. 'We have only scratched the surface in terms of the ways microbes can be used to benefit mankind and tackle many of the big issues faced by society, including climate change, food security and healthy ageing. 'It is incredibly lucky that somebody had the foresight to establish this collection of industrial, food and marine bacteria.' The Maven team was first introduced to NCIMB at an IFS Roadshow in Aberdeen, hosted by the British Business Bank. This latest investment is intended to help NCIMB generate more revenue from its collection and grow the business, with future spin-out companies expected. Dr Green added: 'We want to make our collection more accessible, more useful and get it out to more people than we currently do – in a format that I think de-risks for the end-user.' The investment will allow NCIMB to grow its microbiology services, expand its specialist licensing business, and develop new offerings that help customers choose and use the right bacterial strains for their needs. David Milroy, partner at Maven said NCIMB is uniquely positioned to meet growing demand for contract research organisation's with deep domain expertise. He added: 'We are delighted to join the team at this point in the company's journey and look forward to helping them further scale the business.' Alastair McMillen of the Scottish National Investment Bank said: 'As an impact investor, we are attracted to NCIMB's commercial potential as well as the innovation it can unlock to address global challenges such as climate change and food insecurity.'
