V-Nova

V-Nova is a London-based, IP and software company founded by Guido Meardi, Pierdavide Marcolongo and others. The company’s technology improves data compression as the core enabler of a vast portfolio of innovative applications based on the game-changing use of AI and parallel processing for video and image compression and analytics.

The capital raised will be used to further develop and accelerate the commercial rollout of V-Nova’s video compression software:

  • MPEG-5 LCEVC, the first and only enhancement standard that improves any video codec, can address the totality of the video distribution market. It boosts the quality of experience of existing video services and enables new user experiences while improving video delivery to the end-user in a cost and energy-efficient way.
  • SMPTE VC-6 is a professional production codec that offers higher quality at faster speeds than existing alternatives. Furthermore, VC-6 accelerates AI media indexing multi-fold, enabling the next generation of intelligent media.

Silverpeak was appointed due to its expertise in Deeptech, relationships with global growth investors and reputation as a trusted advisor to the best tech companies. The deal team worked with management to determine the ideal funding strategy. Silverpeak then ran the optimal process exploring multiple funding options, which culminated in the $22m financing by prominent tech entrepreneurs, investment firms and returning shareholders.

Guido Meardi said: “Silverpeak has been at our side with huge dedication and provided very valuable support throughout the deal. They have brought unparalleled skills in presenting V-Nova’s unique story and created a lot of interest from investors. Their professionalism, drive and execution capabilities gained them the trust of our Board and management team. It has been a pleasure working with them.”

Pietro Strada, a Managing Partner at Silverpeak added “We are proud to have advised V-Nova and to have worked with Guido, Pierdavide, Antonio (Filippi) and the other team members. V-Nova is a true global leader and has huge potential. We are confident that this financing round will accelerate its growth and propel it to even greater successes.”

Silverpeak advises fibre broadband network operator Zzoomm on £100m investment by Oaktree

Zzoomm was founded by industry veteran Matthew Hare, who launched rural broadband player Gigaclear a decade ago, and this year hired former Virgin Media and TalkTalk executive Richard Sinclair as its chief operating officer. The company has built a full-fibre network in Henley-on-Thames over the past 12 months and plans to expand to similar locations to build a telecoms company focused on market towns that need higher internet speeds. The Oaktree investment will fund a rollout to pass 1m homes with freshly laid fibre optic cables within five years.

Silverpeak was appointed due to its expertise in growth fundraising and connections with global investors. A range of infrastructure investors with strong interest in telecoms and tech infrastructure were approached. The deal team advised the company on the funding strategy and managed the process from start to finish.

Matthew Hare said: “Silverpeak has been at my side with huge dedication and provided very valuable support throughout the whole deal. They have created a lot of interest from investors, helped us to choose the right financial partner and skillfully negotiated the deal. The Board really trusted their advice”.

Pietro Strada, a Managing Partner at Silverpeak added: “It has been a pleasure to work with Matthew and the Zzoomm team and helping them bring in the right partner for the next phase of their journey.”

For more information please contact Pietro Strada: ps@silverpeakib.com

Silverpeak advises Armilar Venture Partners on Continuation Fund transaction

Armilar Venture Partners, the largest venture capital firm in Portugal, is an investor in several leading software companies, having started to invest more than a decade ago. Since then, their stakes have grown enormously in value, as the companies went from strength to strength and some became widely regarded as the market leaders in their sector.

Armilar Venture Partners wanted to offer its limited partners a liquidity option through a Continuation Fund.

Silverpeak was appointed due to its track record with enterprise software/SaaS growth companies, deep relationships with late-stage technology investors, and excellence in execution of complex transactions. The deal team designed an accelerated process, targeting a selection of knowledgeable investors who could confidently invest with a limited due diligence process. Silverpeak advised Armilar Venture Partners on structuring the transaction and managed the process from start to finish.

Joaquim Sérvulo Rodrigues, Partner at Armilar Venture Partners said: “Silverpeak provided exemplary support throughout this complex transaction. The strength of their relationships with investors enabled us to solicit indicative offers within a few weeks of their engagement. Their team then skilfully negotiated the right structure to accommodate the requirements of all parties. We were able to rely on their advice throughout the entire process.”

Pietro Strada, a Managing Partner at Silverpeak added: “We thoroughly enjoyed working with Duarte, Joaquim and the Armilar Venture Partners team in establishing their new Continuation Fund. They have an impressive track record with great tech companies. This new vehicle will facilitate additional value creation over the next few years for their limited partners and the new investor.”

Trafi

Silverpeak, the technology investment bank, acted as the exclusive financial advisor to Trafi, the Vilnius and London based multi-modal urban transport platform, on its financing round led by Sumitomo Corporation and Aioi Nissay Dowa Insurance. The two Japanese corporates were joined by existing investors Octopus and the European Bank for Reconstruction and Development (EBRD).

Oxbotica

We also advised Oxbotica on their successful £14m funding in their first institutional investment round in 2018. The additional investment coincides with the appointment of Ozgur Tohumcu as CEO joining from Tantalum and previously Ericsson, who will lead the business on its next chapter of development.

Oxbotica, whose mantra is “any vehicle, any environment, any time” customers include: driverless shuttle trials at Gatwick airport; driverless cargo pods at Heathrow airport; partnering with Addison Lee to bring self-driving taxis to London; and other sectors in every hemisphere.

Paddy MccGwire, Managing Partner at Silverpeak said “ This is our sixth transaction announced in eight weeks. It is great to see this iconic British HQ deep technology global business demonstrating the confidence of its investors so quickly. And I’d like to congratulate Co-Founder CTO Paul Newman, who also is the Director of the Oxford Robotics Institute, on being awarded the prestigious Royal Academy of Engineering Silver Medal.

Loot

Silverpeak, the technology investment bank, acted as the exclusive financial advisor to UK Digital Bank, Loot, on Royal Bank of Scotland/Bó’s investment, who join strategic investor Portage (Wealthsimple) as well as SpeedInvest (investors in Holvi, Curve) and Global Founders Capital (investors in iWoca, Kreditech, Facebook).

RBS has taken a 25 per cent stake via Bó, the digital-only bank it plans to open later this year. Mark Bailie, CEO of Bó, said: “Loot is a really exciting brand and one that we’re proud to be associated with. Through its innovative use of technology and intention to change the status quo, it’s quickly built a following of loyal customers, with potential for rapid future growth.”

Loot launched in 2014 to help students and young people better manage their finances. All verified customers are provided with a pre-paid debit card and offer personal insights into spending patterns, allowing users to set daily or weekly budgets or even put aside money for larger #LootGoals.

Commenting on the transaction, Paddy MccGwire, Managing Partner at Silverpeak, said: “Having advised Loot on this strategic investment by Royal Bank of Scotland, we look forward to working with Ollie and the team on their next phase of growth.”

EFFECT Photonics

Silverpeak, the technology investment bank, acted as the exclusive financial advisor to EFFECT Photonics B.V., a leading developer of high performance DWDM optical components based on its optical System-on-Chip, on its Series B funding round led by Innovation Industries.

The funding round accelerates the ramp of its tunable SFP production line and the development of future technologies. EFFECT addresses the need for low-cost, wavelength-tunable optical transceivers with industrial temperature specification to be deployed within the next generation 5G mobile infrastructure, as well as in other networking applications. The global market demand for optical transceivers is expected to grow to $12bn by 2023, from $6bn in 2017 (Lightcounting, 2018).

Silverpeak worked with the company as financial advisor supporting it during the entire process: from the preparation phase, to identifying and contacting a global array of knowledgeable investors, to negotiating the deal terms, through to completion.

James Regan, CEO of EFFECT Photonics, said: “Silverpeak’s deep understanding of optical technologies combined with their relationships in the global investor landscape proved invaluable. They showed total dedication throughout the process and their expertise and advice were instrumental in closing this round of financing for our growth phase.”

Pietro Strada, Managing Partner at Silverpeak and leading the mandate, added: “We are proud to have worked with James and the whole EFFECT Photonics management team and Supervisory Board at this pivotal stage in the company’s trajectory. EFFECT Photonics is at the global forefront of ultra-fast optical integrated circuits and are well placed to take advantage of the huge opportunities in their space.”

Nard Sintenie, General Partner at Innovation Industries, said: “We are delighted to have invested in EFFECT Photonics. We believe that the company and the deal process benefitted from Silverpeak’s assistance and enjoyed working with them.”

Sentryo

Silverpeak, the technology investment bank, has been instrumental in securing €10M in Series A Financing for the cutting-edge Industrial Internet cybersecurity firm, Sentryo. The funding, which completed in November this year, reflects the growing significance of Sentryo’s distributed technology architecture against the backdrop of increased industrial cybersecurity attacks.

Advice on the valuation of the company and the size of the round was provided by Silverpeak to the Sentryo Board.  Silverpeak’s team of finance experts also delivered strategic guidance prior to approaching the market for investors in Europe and the United States. In order for Sentryo to move forward with its expansion activities in the US from Q2 2018, Silverpeak recommended a two-phase approach for the funding. The first phase with Sopra Steria and BNP Paribas Développement completed in April, and the second tranche with Omnes and Alliance Entreprendre which has just been finalised.

Thierry Rouquet, CEO at Sentryo, said: “It was a pleasure to work with the Silverpeak team across their London and Paris offices. Silverpeak worked tirelessly to close the round and came up with an innovative two step closing which allowed Sentryo to meet its goal by bringing together both financial and strategic investors. We look forward to driving the business forward, including its expansion in the US which the financing in place now allows.”

Sentryo specialises in solutions that protect operational technology from the threat of cyber-attack. The company’s ICS CyberVision platform gives control engineers comprehensive visibility on their systems, detects anomalies and accelerates response to cybersecurity incidents to minimise the impact. The funding will be used to accelerate not only expansion in the US, but across Europe too.

Jean-Michel Deligny, a Senior Advisor at Silverpeak, said: “Industrial cybersecurity is a strategic topic but still an emerging market. Sentryo shows technical excellence as well as a focused indirect selling strategy and is expanding to the US, based on key partnerships with the likes of Cisco and Siemens. This makes Sentryo one the most capital innovative and efficient companies in the business and this is why Silverpeak took on the assignment. As always, Silverpeak showed the sort of tenacity which is needed for a successful financing.”

Alex de Gandt, Director at Silverpeak said: “We explored various financing options, and contacted investors globally, both strategic and financial. In the end, the round brings the best of French investors, to support an ambitious plan to expand in Sentryo’s core European markets, as well as grow in the US. We look forward to continue working with Sentryo as the company accelerates internationally.”

Oxbotica

Silverpeak, the technology investment bank, acted as the exclusive financial advisor to Oxbotica, the autonomous vehicle software company, on a £14 million round of funding to support the next stage of its growth strategy. Funds were secured from three leading investors: IP Group plc, Parkwalk Advisors and AXA XL (formerly XL Catlin).

The autonomous vehicle software developer will use the funding to scale its activities in Europe, Asia and the US market, further accelerating Oxbotica’s sustained growth. Oxbotica’s customers include some of the world’s most prominent businesses in sectors including aerospace, automotive, construction, logistics and mining. Its software has been deployed across multiple industry-leading projects where the future application of autonomy is being trialled, such as with Ocado, at Heathrow Airport and on major city streets.

Based in Oxford, Oxbotica was founded in 2014 by Professors Paul Newman and Ingmar Posner. Oxbotica’s software uses the latest in computer vision, machine learning and artificial intelligence to enable vehicles to operate autonomously in any environment and on any terrain. This has made it an attractive solution for many enterprises looking to increase efficiency, productivity and safety.

Silverpeak worked with the company as lead advisor over six months to identify and contact a global array of potential investors creating a competitive selection.

Clive Scrivener, Chairman of Oxbotica, said: “Silverpeak ran a full process and provided us with a choice of investment options. We are delighted with the investment partners we have brought on board.”

Paddy MccGwire, the Managing Partner leading for Silverpeak added, “It was a pleasure working with a world class team. We are very impressed with the way Oxbotica has been built so far, and this funding will unleash the next stage of planned development. This is a truly exciting company.”

Paul Newman, Co-Founder of Oxbotica, said: “The domain-agnostic design of our technology, as well as its independence from external infrastructure such as GPS, makes it uniquely versatile across a range of industries. This has allowed us to trade from day one, attracting a significant blue-chip customer base.
“Together with our customers and partners, my fellow founder Ingmar Posner and I look forward to taking our technology – and our products – to the next level.”

Graeme Smith, CEO of Oxbotica, said: “We are on a mission to bring autonomous software to the world’s biggest markets. We have already seen extraordinary demand from a range of sectors and markets, with the successful deployment of our technology across a strong customer base over the previous four years.
“This injection of funds comes as we move the business into its next growth phase, enabling us to deliver our ambitious plans to scale our capabilities and international presence. To help us achieve this, we are very pleased to welcome our investors to the company and Jamie Vollbracht from IP Group on to our board.”

Jamie Vollbracht, Cleantech Partner at IP Group, said: “IP Group is extremely excited about Oxbotica; the company’s highly differentiated approach unlocks a wealth of opportunities. Impressively, by winning substantial contracts with major customers, Oxbotica has been able to fund activities to date without the need for investment. IP Group is therefore delighted to have been selected by Oxbotica as its investment partner as it looks to capitalise on the next phase of growth. I’m very much looking forward to working with the rest of the board and wider team to help capture the many benefits of this technology for all stakeholders.”

Gowling WLG, who have had a relationship with Oxbotica since the spin-out, were lawyers to the company.