- Venture capital group Draper Esprit revealed Thursday it was leading a $40.0m investment in mobile software platform Finalcad.

Finalcad aimed to improve construction companies' operational efficiency through a mobile digital platform.

Draper Esprit invested £12.4m in the round, alongside international investors Cathay Innovation and Salesforce Ventures, bringing the total funds raised by Finalcad to $60m, the company said.

The investment would be used to extend the product platform into the energy, operations and maintenance sectors, increase headcount globally, and to invest further in R&D.

Draper's investment in Finalcad was the latest in a string of investments including £4m in Crowcube, £4.0m in Fluidic Analytics and £3.5m in Form3.

'These four investments demonstrate our position as one of Europe's most active VC firms, the attractiveness of our £500m+ evergreen capital and global network to potential investees, and the growing diversity of our portfolio across fintech, deep tech and digital health,' said Simon Cook, CEO at Draper Esprit.

At 9:48am: [LON:GROW] Draper Esprit Plc share price was +15p at 525p

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