Any formal bid for the supermarket retailer Sainsbury's looks set to face complications as news emerges that Polygon has built a 1.5% stake in the company. In the past the hedge fund has taken activist positions and helped scupper the £346m take-private of Telent last year. Fortress Investment Group had tried to buyout the former Marconi telecommunications business.
Danish VC Heartcore Capital, UVC Partners and existing investor Picus Capital also take part
Deal is an extension of the $4.1m series-A funding round led by Blossom Capital in October 2019
Fresh capital will help the provider of cloud access services expand in western Europe
DBay has also negotiated a new revolving credit facility for the transport and logistics company