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DIGIT Deal Roundup | April 2025
Check out the latest funding, investments, deals, and acquisitions news from across the Scottish tech sector.
Welcome to the April 2025 edition of the DIGIT Deal Roundup.
Last month witnessed a flurry of investments, with fresh funding earmarked for everything from the development of complex underwater wireless networks, to a new digital recruitment app for Scotland’s energy workers, and even a cash injection for a pioneering ‘conversational AI’ project.
Read on to find out what’s been happening!
Funding and Investments
Scottish Spinout Neuranics Raises $8M to Scale Magnetic Tech
Scottish deep-tech company Neuranics has raised $8 million (£6.2m) to facilitate global growth and advance the commercial adoption of its magnetic sensing technology.
The semiconductor firm, which began life as the first joint spinout between the Universities of Edinburgh and Glasgow, said the funding will drive the company’s next phase, allowing it to strengthen its team and accelerate innovation across core technologies.
The cash injection will also help with the integration of Neuranics tunnelling magnetoresistance (TMR) tech into emerging markets, including extended reality (XR), wearables, and digital health monitoring.
The investment round was led by Blackfinch Ventures, with participation from Archangels, and support from Par Equity, the University of Glasgow, and Old College Capital, the University of Edinburgh’s venture investment fund.
“This investment marks a significant step forward as we continue pioneering new applications for magnetic sensing,” said Noel McKenna, CEO of Neuranics.
“With the support of our investors, we are expanding our team, advancing our technology, and bringing our solutions closer to widespread adoption.”
Read more here.
Scots Firm Secures £6M to Transform Underwater Wireless Networks
Scottish firm CSignum, the provider of wireless technology extending Internet of Things (IoT) communications beneath the surface, has completed its £6 million Series A funding round.
The investment will support the growth of the firm’s EM-2 family of products, which transmit wireless sensor data from submerged environments to networks above, with the firm planning to add additional staff in the UK, USA, and EU over the next year as it continues to scale its operations.
The round was led by Archangels, Par Equity, and Scottish Enterprise, with additional investment from British Business Investment (BBI), Raptor Group, Deep Future, SeeAhead’s Blue Angel Network, and individual US investors.
“This investment reflects the growing recognition of the critical need for innovative communication solutions in the underwater IoT sector,” said Jonathan Reeves, CEO of CSignum.
“The support from our investors will allow us to scale our operations, enhance our product offerings and help industries worldwide manage their resources more effectively.”
Read more here.
Maven Injects £3.4M Into Edinburgh-based Podfather
Maven Capital Partners has completed a £3.4 million investment in Edinburgh-based Epod Solutions Group Limited, the cloud-based logistic software solution firm better known as Podfather.
The investment will be used to further scale and internationalise the business, as well as support the rollout of its latest enterprise software solution.
“Maven’s backing comes at an exciting time for Podfather as we continue to innovate and scale, and it further strengthens our position as a leading player in logistics management software,” said Colin McCreadie, managing director at Podfather.
“Most importantly, this partnership will enable us to deliver even greater value to our clients, helping them operate more efficiently, make smarter decisions and stay ahead in an increasingly complex logistics landscape.”
Read more here.
Wealth-tech FNZ Raises $500 Million in New Capital
FNZ, the global wealth management platform, has secured $500 million (£391.1m) in new equity funding from existing shareholders to support long-term sustainable growth.
The fintech, which has offices in Edinburgh and counts financial giants like Barclays, Axa, and Aviva among its client base, said that the new capital will provide financial strength to support its long-term business plan, driving efficiencies and sharpening the company’s strategic focus.
FNZ said that the funding will allow the firm to accelerate its mission of transforming, simplifying, and improving wealth management through technology with a renewed focus on customer delivery through innovation and investment in both people and operations.
“This new capital will provide the financial strength to support FNZ’s long-term business plan and enduring success with customers,” said Blythe Masters, group CEO of FNZ.
Read more here.
Scottish Energy Recruitment App Secures £1.5M Boost
A new app dubbed the ‘Skyscanner of energy recruitment’ has raised £1.5 million in fresh investment as it looks to overhaul the global energy industry using AI.
The Moblyze app, developed by Dundee-founded JAB Recruitment, is an ‘AI-driven talent marketplace’ for energy sector workers that allows candidates to ‘swipe right’ on jobs, with JAB saying it has seen the response rate to vacancies posted in the app up 50% on traditional website applications.
The funding comes from key figures in the Scottish business scene, including former chief financial officer of Skyscanner, Shane Corstorphine, and Garreth Wood, son of business luminary Sir Ian Wood and newly-installed chairman of the Wood Foundation, and follows a £100,000 commitment from Scottish Enterprise.
“With our deep industry expertise and the backing of key investors, we’ve built a platform that reimagines recruitment for the energy workforce, both today and in the future,” said Chris Black, co-founder and chief growth officer at JAB Recruitment.
“It’s essential that oil and gas workers aren’t left behind during the transition to renewables. Moblyze is redefining workforce mobility, ensuring a smooth shift within the app itself.
Read more here.
Glasgow-Based Murphy Wealth Gets Scandinavian Investment in Scottish First
One of Scotland’s leading financial planning firms, Murphy Wealth, has secured a significant investment from Söderberg & Partners – in what the company calls the ‘first ever’ Scottish partnership for the European wealth management giant.
The deal, which sees Söderberg & Partners take a minority 30% stake in Glasgow-based Murphy Wealth, will support the firm’s long-term growth and technological innovation, including in AI and machine learning, and allow the Scottish firm to scale its trademarked ‘Human-First’ financial planning approach to a wider audience.
The investment in Murphy Wealth is part of Söderberg’s broader strategy of backing ambitious, client-focused financial planning firms across the UK and Scandinavia.
“The fact that Söderberg has chosen Murphy Wealth as their first investment in Scotland is a testament to the work we have done over the years,” said Adrian Murphy, Murphy Wealth CEO.
“They’re investing in people, not looking to run financial planning firms. They believe in our vision, our clients, and our brand – and they want to help us take it to the next level.”
Read more here.
RGU Gets £380K to Help Improve AI Conversations
The team from the university’s School of Computing, Engineering, and Technology hope to enhance the existing capabilities and aid the rapid development of domain-specific conversational systems, with a key aim of the project being to ensure the conversation keeps both the AI and user on topic through structured conversation.
“Over the next five years the value of the conversational AI market is projected to grow to almost £40 billion compared to around £10 billion last year,” said RGU’s Dr Mark Snaith.
“By investigating and implementing methods that allow application developers to easily provide structure to conversations, we can create more sophisticated and reliable conversational systems in a broad range of areas – health care, law, education, coaching and public engagement to name but a few.”
Read more here.
Glasgow-based AI Firm Wins £200,000 For Expansion
Glasgow AI firm FD Intelligence has welcomed a £200,000 funding boost from UKSE, a subsidiary of Tata Steel, as it embarks on strategic business growth to transform the financial services sector.
Founded in 2021, FD Intelligence initially provided Robotic Process Automation consultancy services, but after recognising a gap in the market, the company has since transitioned to developing its own cutting-edge automation software for the accountancy sector.
Its flagship personal tax automation robot, PeTAR, works to automate the preparation of personal tax returns, significantly reducing manual work for accountancy firms, with the firm claiming it can reduce admin tasks that traditionally would take several hours down to mere minutes.
The funding from UKSE will allow FD Intelligence to enhance its product capabilities and expand its market reach, with the firm expecting to create 16 new roles over the next two years.
“The funding support from UKSE not only boosts our confidence in continuing our product development but also positions us to build a sustainable, long-term business that will create new jobs in Glasgow and establish Scotland as a hub for AI innovation,” said Andrew Guy, founder and CEO of FD Intelligence.
TRICAPITAL Angels leads fresh £800,000 investment into net zero technology firm
Clean-tech firm H2CHP has received £800,000 of fresh backing from TRICAPITAL Angels and Blackfinch Ventures for a new engine which could help propel the shipping sector towards net zero.
H2CHP has now raised nearly £4million to develop its free-piston engine, which generates heat and power efficiently from multiple clean fuels.
The technology, initially aimed at eliminating emissions from idle ships burning marine fuel when berthed, also has significant potential in other sectors requiring off-grid power solutions.
As it moves toward commercialisation, the company will now make key hires in its sales and operations teams, expanding its footprint across Durham and Aberdeen.
“H2CHP is exactly the kind of innovation that the UK needs to meet the fast-approaching challenges of decarbonisation,” said Moray Martin, CEO of TRICAPITAL Angels.
“The team has developed a world-first technology that’s both deeply intelligent and brilliantly simple – an adaptable, clean generator that can help future-proof sectors like maritime and remote infrastructure, which are under increasing pressure from tightening emissions regulations.”
Aquisitions
Dundee-based Brightsolid Announce Acquisition of IT Firm Synergi
Cloud services company Brightsolid has announced its full acquisition of Gateshead-based IT solutions provider Synergi.
Established over 25 years as part of DC Thomson, Brightsolid’s customers include Aberdeenshire Council, Dumfries and Galloway Council, Shell, University of Dundee and West Yorkshire Combined Authority, while Synergi works in a range of sectors providing solutions including automation, cybersecurity, data and AI, with clients including Princes, NHS Highland, Arriva and Lothian Buses.
Following the acquisition, Synergi will continue to operate under its existing brand with no disruption to its customers or team.
“Whilst we’ve been approached by buyers previously, we feel that the alignment and cultural fit Brightsolid provides make them a truly perfect match – a great bunch of positive, friendly and very smart people,” said Synergi cofounder and CEO Peter Joynson.
Read more here.
Glasgow’s KubeNet Acquires Aberdeen-Based ISN Solutions
Glasgow-based Kube Networks, or KubeNet, has announced the acquisition of ISN Solutions Group, a managed IT service provider operating in Aberdeen.
KubeNet said the deal will allow the tech solutions provider to enhance its service capabilities and extend the firm’s footprint across Scotland, with the firm hoping to build on ISN’s strong reputation in the north-east.
ISN will continue operating under its existing name during an initial transition period to ensure continuity for clients, suppliers, and employees. Over time, the business will be fully integrated into the KubeNet brand, with a phased approach designed to minimise disruption and maintain service levels.
“The acquisition of ISN is a natural fit for KubeNet, bringing together two businesses with a shared customer focus,” said Fraser Ferguson, director at KubeNet.
“Bringing ISN into the group boosts our capabilities and helps us support more businesses with the kind of reliable, high-quality service we’re known for.”
Read more here.
Edinburgh Digital Transformation Firm Completes Management Buyout
Led by its dedicated leadership team, the buyout positions Exception for continued growth, innovation, and independence as it transitions into its next chapter with a renewed focus on helping businesses harness AI and operate more efficiently.
Moving forward, Exception aims to empower its clients by leveraging cutting-edge AI solutions to drive productivity and cost savings in an increasingly challenging and digital world.
“We are thrilled to take this bold step forward,” said Alasdair Hendry, managing director of Exception.
“With this change, we’re poised to accelerate our growth, invest in our people, and sharpen our focus on supporting businesses to make the most of AI, streamline operations, and achieve greater efficiency.”
Read more here.
Sword Group Acquires iDELTA LTD
Sword Group have announced the acquisition of Edinburgh-based iDelta Ltd, a provider of bespoke data and AI solutions,
as well as cybersecurity monitoring and automation, application observability, and fraud analytics.
iDelta’s team of consultants have created tools that help to manage Open Banking data APIs, along with add-ons available on the Splunk marketplace, which simplify integration with third-party technologies, ensuring customers can efficiently access and utilise their data.
Sword Group said that the acquisition of iDelta is a significant step in strengthening the company’s cybersecurity strategy and aligns with its strategic vision up to 2028, with the firm looking to draw upon synergies in customer engagement and delivery.
“I am delighted to be welcoming the iDelta team to Sword,” said Kevin Moreton, CEO of Sword UK.
“This acquisition reaffirms Sword’s commitment to enhance our cybersecurity and AI capabilities, particularly in Financial Services.”
