Mills & Reeve at the cutting-edge of Cambridge tech
Leading national law firm Mills & Reeve has advised two Cambridge companies on their latest funding rounds, as the firm cements its reputation as the go-to firm for venture capital investment.
The firm has recently advised existing client Imagen, on their £2.5 million funding from Cambridge Innovation Capital.
Imagen are at the forefront of media asset management, with a sophisticated SaaS platform used by some of the world’s leading sports federations, including the Premier League, ATP World Tour, Ryder Cup and IMG Media to distribute their video and images to global broadcast partners such as NBC, ESPN and Sky.
The team also advised PervasID, a technology spin out from the University of Cambridge, on a seed funding round of just over £700k. PervasID is developing and commercialising long-range, accurate passive radio frequency identification (RFID) tag detection and location systems for use in a number of significant and growing potential markets including retail and logistics. Its passive UHF RFID reader technology enables highly reliable reading of standard, off-the-shelf passive UHF RFID tags and achieves almost 100 per cent detection over areas of up to 400 square meters and is able to scale to much larger areas.
The PervasID funding round was led by the Cambridge Enterprise and included the University of Cambridge EIS Fund (managed by Parkwalk Advisers) and also Cambridge Innovation Capital.
Zickie Lim who leads the nationally renowned venture capital team at Mills & Reeve said:
“The common investor in both these businesses is Cambridge Innovation Capital. Venture capital funds, such as Cambridge Innovation Capital, are providing vital financial support to early stage and growing tech businesses looking to scale up their operations in this region.
We are fortunate that Cambridge has a thriving venture capital and business angel community who can provide much needed capital for start ups and scale ups. Even more critical to helping these businesses become exciting innovative global leaders is the wider ecosystem which has developed around these growing companies to help them – from access to skills and people, strong industry networks, a wealth of talent and experience through to fantastic quality research institutions. We are proud to be an integral part of this ecosystem.”