Krucial, a Scottish startup leveraging space technology, has successfully secured $3.7 million in its latest funding round. The funding round was led by existing investor Scottish National Investment Bank, alongside University of Strathclyde and Scottish Enterprise, with new international investors including Dubai-based AzurX and brings their total funding to $7.5 million.
The company intends to use the investment to accelerate their growth in core markets including energy, rail, aquaculture and agriculture in the UK and internationally. This funding, along with recently announced partnerships with organisations including Netherlands-based Amphibious Energy is a clear sign of the market’s confidence in Krucial’s technology.
Krucial is working to bring digital transformation to every industry and without any limitations. The company states that their mission is to help businesses of all sizes to work smarter, aim higher, and achieve more—without being limited by their location, or communications infrastructure.
The core limitation to a global digital transformation is that 90% of the planet’s surface can’t be connected to a cellular network. Krucial’s technology removes these blindspots, bringing connectivity to any location without requiring traditional communication infrastructure. This is achieved by combining cell network and satellite technologies. If the cell network fails, the satellite takes over. A broad range of power sources are implemented to ensure functionality even when power goes out.
With the growing funding and industry connections, Krucial is advancing closer and closer to making their mission a reality.
Who We Are:
Swanson Reed is one of the UK’s leading R&D Tax Relief consultancies. We manage all facets of the SR&ED tax credit program, from claim preparation and audit compliance to claim disputes.
If you would like to find out more about how your business could benefit from R&D Tax Credit, contact a Swanson Reed R&D Tax Advisor today.