FYLD Secures £10M In Series A Funding

funding, growth

FYLD, the London-based, AI-driven digital platform, recently announced the completion of its £10 million Series A funding round. The funding was provided by Koru, the Ontario Teachers’ Pension Plan’s venture incubator, and corporate partner SGN, a leading UK gas distribution network operator. To date, FYLD has raised a total of £14.4 million.

Both participating investors have committed to following their initial seed funding investments based on the results achieved since FYLD was supported with validation and launch in 2020 by venture foundry Boston Consulting Group Digital Ventures (BCGDV).

FYLD will use the additional capital to accelerate product development and enhance functionality, to expand globally into new markets including the United States and Scandinavia, and to double the workforce headcount from the current 22 to 45.

Shelley Copsey, CEO of FYLD, said: “Over the next 18 months, we will scale and develop FYLD’s AI-platform by leveraging its data capture and predictive capabilities. That will allow customers to identify and overcome their systemic productivity issues and ensure that each and every day, the work of field teams is safely delivered to schedule.”

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