Growthdeck-led Fundraise for Arkivum Closes at over £1.5m
by Growthdeck Team
20 August 2021News Growthdeck portfolio
Note: The contents of this article are the author's opinion and have not been approved as a financial promotion.
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We are delighted to have closed a £1.575m EIS-qualifying equity fundraise for the secure digital archiving platform Arkivum, alongside existing investors IP Group and Parkwalk.
Arkivum helps businesses ensure that the data they have collected remains accessible, secure and usable for decades into the future. It works with businesses, often in highly regulated industries, to deal with the data archiving problems that tech consultancy Forrester has described as a ‘ticking time-bomb’.
Many of the organisations Arkivum works with, such as pharmaceutical companies developing new drugs, are required by regulators to retain clinical trial data for 25 years. Failure to provide the right data when requested can lead to fines and trials coming to a halt.
Arkivum is currently partnering with Google to deliver the €4.8m ARCHIVER data archiving project for a multinational group of scientific research institutions, led by CERN, which operates the Large Hadron Collider in Geneva. The project will store and protect extremely large-scale research data, measured in petabytes (units of one million gigabytes).
Allyson Clarke, Relationship Director, comments:
“We’re excited to be backing a business that solves such a vitally important and growing issue – the preservation of data, now and in the future.”
“Many of our life-saving industries, such as pharmaceuticals and scientific exploration, rely heavily on keeping extremely valuable data records safe to allow them to complete their investigations. As a key provider to these vital services, Arkivum’s solutions outperform anything else currently on the market.”
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