This Leeds tech startup grabs £1.5M to reduce traffic congestion and air pollution in Leeds, York and Hull

University of Leeds spin-out, Slingshot Simulations, which claims to be a global pioneer in the digital twin sector, secured £1.5M investment. This investment comes after the first round that it raised in 2019 as a part of a £750,000 round that included funds from the university.

The investment round was led by existing investor NPIF – Mercia Equity Finance managed by Mercia and is a part of NPIF (Northern Powerhouse Investment Fund) and the UK government’s Future Fund. With the funds, Slingshot Simulations will be able to scale its operations and rollout its system to its first commercial customers.

Notably, The Northern Powerhouse Investment Fund project is financially backed by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

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