International Finance

Berlin-based tech firm Mobius raises £4.5 mn to expand in the UK

Mobius funding_IFM_Image
The funding round for Mobius was led by Ventech VC

Berlin-based AI-powered computer vision startup Mobius has raised around £4.5 million in a fresh funding round, media reports said. The funds will be used by Mobius to expand in the UK. The startup plans to open an office in the UK in early 2022.

The funding round for Mobius was led by European Venture Capital pioneer Ventech VC. Other investors that also participated in the funding round include Atlantic Labs, APEX Ventures, Space Capital, Lunar Ventures and additional angel investors.

Appu Shaji, chief executive and chief scientist at Mobius Labs told the media, “I am very proud of what we have achieved at Mobius Labs so far but there is still a lot to be done. This new round of funding will help accelerate our plans and expand quickly as a company.

“The last 18 months have been very challenging for many firms, but we have continued to grow throughout the pandemic while retaining all existing customers and look forward to enhancing our product and taking computer vision technology to the next level.”

Last month, US-based payment giant PayPal launched its cryptocurrency services in the UK. PayPal will now allow customers in the UK to buy, sell and hold bitcoin and other cryptocurrencies starting this week. Previously, its crypto services were only available in the US.

PayPal surprised everyone when it entered the crypto realm last year. In June, PayPal chief executive Dan Schulman revealed that the initial version of the company’s super app wallet was code complete.

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