This week’s UK tech funding deals include credit score provider ClearScore, AI logistics startup Relay and more.
UKTN tracked £95.6m worth of UK tech investment this week (24 February to 28 February), a 22% week-on-week decrease across seven funding rounds.
Here’s your weekly roundup of UK tech startup funding deals.
ClearScore – £30m
Sector: Fintech
HQ: London
Round: Debt financing
Investors: HSBC
Founded in 2014, ClearScore provides credit reports and access to credit cards and loans.
Relay – £27m
Sector: Logistics
HQ: London
Round: –
Investors: Plural, Project A and Prologis Ventures
Founded in 2022, Relay has developed an AI-powered logistics network to reduce costs and delivery times.
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Audiological Science – £12.4m
Sector: Health tech
HQ: London
Round: Growth equity round
Investors: YFM Equity Partners
Founded in 2014, Audiological Science produces hearing aids, tests and other audio health services.
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Napo – £11.9m
Sector: Insurtech
HQ: London
Round: Series B
Investors: Mercia Ventures, DN Capital, Companion Fund, MTech Capital and Helvetia Venture Fund
Founded in 2021, Napo is an insurtech platform providing pet coverage.
Magdrive – £8m
Sector: Space tech
HQ: Harwell
Round: Seed
Investors: Redalphine, Founders Fund, Balerion, Alumni Ventures, Outsized Ventures, 7percent and Entrepreneur First
Founded in 2019, Magdrive develops thruster technology for the space industry.
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Ignota Labs – £5.4m
Sector: Health tech/AI
HQ: London
Round: Seed
Investors: Montage Ventures, AIX Ventures, Modi Ventures, Blue Wire Capital, and Gaingels
Founded in 2021, Ignota Labs is using AI to address the cause of drug toxicity, which ruins clinical trials.
Monument Therapeutics – £850,000
Sector: Health tech
HQ: Macclesfield
Round: –
Investors: ACF Investors, Wren Capital and O2h Ventures
Founded in 2021, Monument Therapeutics is developing novel treatments for mental health conditions.
The post UK tech funding roundup: This week’s deals from ClearScore to Monument appeared first on UKTN.
