Midlands Engine Invests £1.32M in Denturly

By Anushka Malhotra

1 minute 6 seconds

Spotlight

Share:

Quick Read: Denturly, a digital denture care company, secures a £1.32 million investment from Midlands Engine and West Midlands Co-Investment Fund to drive its UK expansion, aiming to revolutionise the global dentures market with innovative technology and triple its employee count.

Digital denture care company Denturly secures a substantial £1.32 million investment to fuel its expansion across the UK. The investment, sourced from multiple funding streams including the Midlands Engine Investment Fund and the West Midlands Co-Investment Fund, is set to propel Denturly's growth ambitions significantly.

The funding injection, consisting of £500,000 from the Midlands Engine Investment Fund and £420,000 from the West Midlands Co-Investment Fund, along with additional co-investment, is a testament to Denturly's innovative approach in revolutionizing the global dentures market. With plans to triple its employee count and expand to over 50 locations nationwide, Denturly aims to disrupt the industry with its cutting-edge digital scanning and 3D printing technology.

Photo: Spencer Greening, Rupert Lyle, Graham Byrne, Nosheen Kabal, Sabreen Kauser (Photo Credit: Midven Denturly)

Rupert Lyle, representing Midven, expressed confidence in Denturly's vision, highlighting the potential for substantial growth and success. Graham Byrne, Denturly's CEO, emphasised the significance of the partnership with Midven and the West Midlands Co-Investment Fund, underscoring Birmingham's pivotal role in the company's expansion strategy.

The West Midlands Co-Investment Fund, established by the WMCA to foster innovation and economic growth, has identified Denturly as a prime example of forward-looking, technology-driven businesses. Andy Street, Mayor of the West Midlands, lauded Denturly's contributions to the regional economy, highlighting the importance of supporting companies like Denturly to drive innovation and unlock new opportunities.

Mark Wilcockson from the British Business Bank emphasised the impact of investments like Denturly's on local economies, emphasising job creation and accessibility to essential services. With Denturly at the forefront of digital denture care innovation, the investment represents a significant step forward in advancing the region's industries and fostering economic growth.

What's new

Inicio AI Raises £2.6M in Seed Round to Scale AI-Powered Financial Platform

Inicio AI, a Coventry-based fintech innovator, has raised £2.6 million in seed funding to fuel growth and roll out its FCA-regulated consumer affordability platform.

The funding round was supported by a consortium of high-profile investors, including Rigby Group, Morgan Stanley, Haatch Ventures, Angel Academe, Mint Ventures, and a number of individual angel investors. It also includes a £500,000 investment from the West Midlands Co-Investment Fund (WMCO), managed by Midven, part of Future Planet Capital.

The raise follows Inicio AI’s recent win at Birmingham Tech Week’s OneToWin pitch competition, where it earned recognition for Budgie AI, its intelligent virtual agent designed to help individuals better manage their finances.

The funds will be used to scale the company’s operations, including the launch of the UK’s first FCA-regulated specialist consumer affordability passporting service. This innovation will allow consumers to share verified affordability data with third parties, streamlining financial assessments across sectors.

The company also plans to grow its West Midlands headquarters, adding new talent in tech and data roles to support ongoing development.

Rachel Curtis, CEO of Inicio AI, commented:

“This investment, alongside our OneToWin recognition, represents a major milestone. It enables us to enhance our technology, scale our impact, and help more people take control of their financial future while improving efficiency for lenders.”

The WMCO, jointly launched by the West Midlands Combined Authority (WMCA) and the West Midlands Pension Fund, aims to back high-growth SMEs driving innovation and economic growth in the region through matched equity investment of up to £1 million.

Richard Parker, Mayor of the West Midlands and WMCA Chair, said:

“Inicio AI is a fantastic example of regional innovation. With the right investment and support, local companies like this can launch groundbreaking solutions that improve lives and grow our economy.”

Rupert Lyle, Investment Director at Midven and Fund Principal of WMCO, added:

“Inicio AI’s cutting-edge approach to affordability assessments is reshaping how the financial sector operates. We’re excited to be part of their journey.”

By Anushka Malhotra

16 Apr

An image of the outside of selfridges in birmingham from below looking up. You can see the iconic silver circles with the blue background of the building and the sky on a sunny day

Proudly Backed By Our Patrons