Even in a slowed-down macroeconomic climate, the funding deals never end in the world’s third-largest tech industry. To help keep track of the deals that matter most, UKTN is launching a weekly funding roundup every Friday.
This week – 4 March to 8 March – includes funding rounds for digital banking giant Monzo, medtech startup Phagenesis, new entrant to the generative AI video market Haiper and more.
Here is the inaugural edition of the UK tech funding roundup.
Monzo – £340m
Sector: Fintech
HQ: London
Round: Late VC
Investors: CapitalG, Google Ventures, Passion Capital, Tencent and HongShan Capital
Founded in 2015, Monzo provides digital banking services including consumer and business current and savings accounts, investing and loans.
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Phagenesis – £33m
Sector: Health tech
HQ: Manchester
Round: Series D
Investors: British Patient Capital, EQT Life Sciences, Sectoral, Northern Gritstone and Aphelion
Founded in 2007, Phagenesis has developed a neurostimulation system to treat swallowing dysfunction, a common effect of brain injuries.
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Haiper – £10.9m
Sector: AI
HQ: London
Round: Seed
Investors: Octopus Ventures
Founded in 2021, Haiper is a generative AI tool that creates short videos based on user prompts.
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Wobble Genomics – £8.5m
Sector: Health tech
HQ: Edinburgh
Round: Pre-Series A
Investors: Mercia Ventures, BGF, IQ Capital, EOS Advisors and the University of Edinburgh
Founded in 2021, Wobble Genomics is a biotech spinout from the University of Edinburgh developing RNA sequencing technology that could speed up drug development.
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Fluent – £5.9m ($7.5m)
Sector: AI
HQ: London
Round: Seed
Investors: Hoxton Ventures and Tiferes Ventures
Founded in 2021, Fluent is an AI tool for non-technical team members to glean understandable strategic insights from complex data.
Theia Insights – £5m
Sector: AI/fintech
HQ: Cambridge
Round: Seed
Investors: Unusual Ventures, Fidelity International Strategic Ventures and Clocktower Ventures
Founded in 2022, Theia Insights is an AI tool that provides insights into the investment market for wealth managers, ETF issuers, index providers, banks and other financial institutions.
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Cogna – £3.8m
Sector: AI
Round: Seed
Investors: Hoxton Ventures, Notion Capital, Octopus Ventures, Hermann Hauser, Stan Boland, Neil Lawrence, Zayd Enam, Tim Shi, Ping Wu, Aviv Nevo and Nick Elliot
Founded in 2023, Cogna is an AI tool to create custom software tailored to different industries that can be sold off as software-as-a-service (SaaS).
Gridcog – £3.3m
Sector: Climate tech
HQ: London
Round: Seed
Investors: AlbionVC
Founded in 2020, Gridcog develops software for organisations undertaking clean energy projects. The platform simulates the process to inform decision-making on the right solutions and track progress.
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CyberQ Group – £1m
Sector: Cybersecurity
HQ: Birmingham
Round: Seed
Investors: Midlands Engine Investment Fund (MEIF)
Founded in 2016, CyberQ Group is a cybersecurity company that offers breach detection, cyber due diligence, consultancy and managed security operations services.
Nuke from Orbit – £500,000
Sector: Cybersecurity
HQ: London
Round: Pre-seed
Investors: Oliver Bridgen and Jordan Hallows
Founded in 2023, Nuke from Orbit is a cybersecurity service that allows users to remotely cancel and freeze accounts in the event of a stolen or lost device.
The post UK tech funding roundup: This week’s deals from Monzo to Haiper appeared first on UKTN.
