Vypr tests and validates products and concepts through its insight platform, with a particular focus on new product development for the food and drink industry, working with brands, manufacturers and retailers. The company’s customers include Aldi, Asda, Kraft Heinz and Red Bull.

The funding includes £4m from private equity firm YFM Equity Partners, which first invested in the business in 2021. A further £1m from other investors and management – including Vypr chairman Richard Law – totals £5m in the most recent raise and brings the company’s funding to date to £13.4m.

Founded in 2013, Vypr has set its eyes on international opportunities in the past year, expanding its research services and panels to offer insights on consumers in Australia and the US and extending its platform in Europe. The new funding will drive development in these countries and new markets.

Vypr also plans to use the investment to update its platform to include a self-service offer and AI-based features.

Chris Williams, chief executive at Vypr (pictured), said: “Our partnership with YFM has been instrumental in driving Vypr’s growth.

“With an excellent team here, a unique product roadmap, and enormous global opportunity, we can now deliver the next phase of our strategy.”

Williams added: “This raise equips us to evolve our platform and push into adjacent sectors in FMCG and retail in the UK and internationally.”

Sophie Tainton, portfolio director at YFM Equity Partners, said: “The business has built a compelling offering that is now attracting interest from international markets.

“With a strong leadership team and a clear vision, Vypr is well-positioned to scale successfully internationally while continuing to enhance its market-leading technology.”