A Scottish tech startup has raised 拢4.25 million to drive the digitalisation of the energy sector.
Xergy, based in Aberdeen, has developed an operating system called Proteus which enables customers to digitally transform whilst connecting to 鈥榬ated talent鈥�.
The Series A+ fundraise saw follow-on investment from a majority of existing investors, including an additional 拢1m investment from Scottish Enterprise, which has previously supported the company with a research and development grant of up to 拢425,000 and early stage growth challenge fund investment.聽
Other investors include early Proteus customers who have become strong advocates of the benefits to their businesses, according to the firm.
鈥淭he last few years of developing Xergy have been incredibly enlightening, and this investment is a great result of the effort of the team,鈥� said James McCallum, founder and chairman at Xergy.
鈥淚 would also like to thank our shareholders for their continued support, and our new investors for instilling their confidence in Xergy.聽
鈥淎s we move forward, we are focused on developing products that are aligned with the essential need of businesses to embrace both the energy transition and digital transformation.聽
鈥淲e are pleased to have the support of Scottish Enterprise in helping companies make this transition by improving upon their agility and business efficiency through digitalisation.鈥�
Kerry Sharp, director of growth investments at Scottish Enterprise, said: 鈥淭he growth of Xergy highlights the entrepreneurial talent and innovation within Scottish early-stage businesses.
鈥淪cottish Enterprise is delighted to provide further support for this technology company that provides solutions to recruitment and project management for the energy sector, supporting its overall transition and digitisation.聽
鈥淭he technology is being used globally and creating employment opportunities for energy professionals across Scotland and this new round of investment will allow the firm to reach further across new markets as well as industries and continue to help organisations remain competitive.鈥�