Virtualstock, a Reading, UK-based provider of technology solutions for UK retailers and NHS Trusts, raised £3.42m as part of an Enterprise Investment Scheme (EIS) fundraising round.
The EIS fundraising round takes the total primary capital invested into the business during its lifetime to £7m. Virtualstock was previously valued at £66 million, following a fundraising round led by Notion Capital in July 2017. The post-money valuation after this recent EIS fundraising round is approximately £69.5m.
The funds will be used to scale the business and to prepare for international expansion.
Led by Andrew Mills, CEO, and newly appointed chairman René Schuster, Virtualstock provides businesses in retail including Tesco, Sainsbury’s Argos, John Lewis and Dixons Carphone, and healthcare including NHS with a cloud-based solution to connect the data scattered across disparate parts of the supply chain. The Edge4Health™ is delivered in partnership with NHS Shared Business Services to accelerate industry wide efficiency and operational productivity for both Healthcare Providers and Suppliers.