Authenticate secures GBP2.3m funding from the Northern Powerhouse Investment Fund
Authenticate secured a new funding round of GBP 2.3 million, which includes GBP 1.5 million from the Northern Powerhouse Investment Fund and the remainder from existing shareholders including Summit Alpha.
Authenticate stated: “With new resources and recruitment afoot, this most recent round of investment will allow us to substantially grow our in-house software and data teams in Harrogate, and accelerate development of our platform into a solution that enables food businesses to combat the industry’s greatest technical challenges.”
Authenticate’s mission remains simple: To establish a joined-up approach to supply chain transparency, facilitate more efficient compliance and bring added technical insight to the world of food and drink production.
Raymond Taylor of Solomon Taylor & Shaw provided legal advice to Authenticate while Adrian Ballam of Schofield Sweeney advised the Fund. Stephen Moore of Princelet Partners and Jonathan Davis of Saffery Champness provided fundraising and financial advice to the company.
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.