Withers tech advises as Molten Ventures co-leads £23 million Series C in FocalPoint

Firm News 23 September 2022 Experience: Technology
Venture Capital

The Withers tech team has advised long-standing client and leading European venture capital fund Molten Ventures as co-lead investor in FocalPoint’s £23 million Series C funding round, alongside co-lead investor Gresham House.

FocalPoint is revolutionising the accuracy of GPS and other global navigation satellite systems. A University of Cambridge spin-out, FocalPoint was founded with the aim of bringing accurate position and time to smartphones and autonomous platforms. The team plans to use the investment to grow their R&D practice, pursue opportunities in other radio technologies such as 5G and WiFi, and accelerate growth of their IP portfolio.

London partner, Iain Cockburn comments: “We are delighted to have supported Molten Ventures on another investment into a very exciting UK technology company, which has the potential to revolutionise global navigation satellite systems. Despite a more challenging economic environment, the UK’s tech sector continues to attract funding, particularly in areas such as deep tech, where the UK is a world leader.”

Withers tech is the technology, life sciences and venture capital focused team at international law firm Withers. The Withers tech team was led by Iain Cockburn and senior associate, Matt Peplow.