UK’s mobility intelligence firm Huq Industries secures €4.6M to expand in Europe

London-based Huq Industries, a monitoring platform for decision-makers in local government, retail and real estate, announced on Tuesday that it has raised £4M (approximately €4.66M) in an equity round of funding.

The round was led by 24Haymarket alongside ACF Investors.

What does Huq Industries offer?

Founded in 2014, Huq is a data intelligence supplier that provides precise mobility insights, such as footfall numbers, to enable strategic professionals in government, banking, retail, and real estate to make confident judgements.

The company’s insights help merchants and owners of commercial real estate choose the right areas to concentrate their investments while also assisting local governments in creating better communities.

With the help of data-driven innovation, Huq claims the latest “evolution” of its insights platform, Huq Signals, enables a new age of mobility intelligence that enables its users to build communities that are safer, more resilient, and prosperous.

According to a statement, currently, the company helps over 300+ local councils, investors, as well as some of the largest retail and real estate companies, to stay ahead in their industries.

Funds to expand in Europe

Huq says it will use the money to strengthen its position as Europe’s leading provider of mobility studies and to expand into new international markets. The company will also acquire “unique” data sources to strengthen and diversify its market research.

Conrad Poulson, CEO at Huq Industries, says, “We are delighted to have garnered such strong support from like-minded individuals in the UK investor community as we expand our operations to meet the growing demand for actionable insights on real-world behaviours.”

“This funding will enable us to build on the world-class team that we have put together here at Huq so that we can capitalise on the immense demand that we are experiencing for our products across EMEA,” adds Poulson.

Brief about the investors

24Haymarket is a private equity fund that focuses on “disruptive” early-stage venture and growth equity investments of up to £5M per deal. The firm, with a 100+ investor network, aims to establish the UK’s future industrial leaders.

James Campin, Investment Executive at 24Haymarket, says, “We are delighted to continue to support Huq Industries on their exciting journey. Huq’s mobility insights enable businesses and local councils to improve consumer experiences and with this additional funding, Huq will be able to deliver more actionable insights to its clients in both the UK and EMEA.”

ACF Investors (formerly the Angel CoFund) is a VC fund that works alongside sector-smart business angels to invest in high-potential SMEs across the UK. It has backed 110 companies with over £65M in direct investment and over £350M from business angels and other investors.