Michelmores has advised Maven as lead investor in a £2.7 million investment in Alchera Technologies, a software business providing an AI-enabled data platform for the transport and infrastructure sectors.
The investment was led by the British Business Bank’s South West Investment Fund, managed by Maven, alongside investment from the Bayes Entrepreneurship Fund and The FSE Group.
Alchera Technologies has developed an AI platform designed to help transport and infrastructure operators make better use of complex and fragmented datasets. Its technology brings together data from sources including existing sensor networks, traffic management systems and third-party feeds to support transport planning and operational decision-making.
The investment will support further product development and enhancements to Alchera’s platform as the business continues to develop its offering for transport planning and performance monitoring.
The Michelmores team advising Maven was led by Senior Associate Ben Adams, with support from Corporate Partners Harry Trick and Adam Kean, together with specialist advice from Partner Jo Mackie (Employment), Associate James Millet (Employment), Partner David Thompson (Commercial) and Managing Associate Anthony Reeves (Corporate Tax).
The transaction continues Michelmores’ relationship with Maven, with the Firm having advised Maven on a number of investments in growing businesses in the South West.
Ben Adams commented:
“We are delighted to have supported Maven and the South West Investment Fund on this investment. It is great to see the Fund continuing to back ambitious businesses and support further growth and investment across the South West. We have really enjoyed working with Rafi and the Maven team again and look forward to seeing Alchera continue to grow.”
Rafi Khan, Investment Director at Maven, added:
“The Michelmores team combined legal rigour with a practical commercial approach during Maven’s investment in Alchera. They identified and helped address several important matters before completion, allowing the transaction to progress smoothly.”
