Arachnys, a UK-based business compliance and security software provider, has raised a seed round led by local industrial group Marshall’s corporate venturing fund.
Angel networks Cambridge Capital Group and Cambridge Angels joined Marshall’s Martlet corporate seed fund in backed Arachnys.
David Buxton, chief executive of Arachnys after previously working at international security consultancy Control Risks as an investigator, said: "There is huge demand for a service that allows international investors to really get under the skin of emerging markets to find crucial business information. Current online research tools perform very badly in emerging markets, especially countries where the main business language is not English. This investment will enable us to provide information in niche markets from Albania to Uzbekistan, but also in major investment destinations and private banking markets like India."
Peter Cowley, Arachnys non-executive director and active angel investor in addition to his Martlet role, said: "David and his team provided a compelling investment pitch and I quickly gathered a significant number of investors keen to participate in the success. I joined the board both to represent the angel group and contribute to the company’s growth."