Theia Insights, a Cambridge-based deeptech whose technology is used by global index providers, asset managers, hedge funds and banks, has raised £6 million in Series A funding.

The round was led by MiddleGame Ventures, an early-stage fintech fund, with participation from Further Ventures and Unusual Ventures, bringing total funding to $14.5m to date.

Named after the Greek goddess of sight, Theia was built on the premise that financial markets cannot allocate capital well if they cannot first see the economy clearly.

Theia’s proprietary technology reads a broad range of company information – regulatory filings, earnings transcripts, press releases, financials – and builds a continuously-updated, multidimensional picture of what that company actually does.

Instead of one label, a single company might show 30% exposure to semiconductor, 25% to AI, 20% to data centres, 15% to cloud computing, and 10% to autonomous vehicle technologies, for example.