This week’s UK tech funding deals include generative AI legal tech platform Luminance, blockchain-based real estate platform Coadjute and more.
UKTN tracked £51.9m worth of funding deals this week (01 April to 05 April), a 67% week-on-week increase in value albeit with a lower volume of deals.
Here’s your weekly roundup of UK tech startup funding.
Luminance – £31.8m
Sector: AI/legal tech
HQ: Cambridge/London
Round: Series B
Funding type: Equity
Investors: March Capital, National Grid Partners and Slaughter and May
Founded in 2015, Luminance is a generative AI tool designed to automate legal processes. Luminance can generate, analyse and negotiate contracts and other legal documents.
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Coadjute – £10m
Sector: Proptech
HQ: London
Round: N/A
Funding type: Equity
Investors: Lloyds Banking Group, Nationwide, NatWest and Rightmove
Founded in 2018, Coadjute is a software firm that has developed a platform to connect parties involved in the property transaction process. Coadjute’s blockchain-based platform is used by estate agents to track transactions.
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Warwick Acoustics – £7m
Sector: Automotive
HQ: Nuneaton
Round: –
Funding type: –
Investors: Mercia Ventures and NFU Mutual
Founded as a spinout out of Warwick University’s engineering department, Warwick Acoustics has developed electrostatic speakers for electric vehicles that it claims are 90% lighter and 90% more power efficient than conventional speakers.
Sparxell – £2.5m
Sector: Cleantech
HQ: Cambridge
Round: Seed
Funding type: Equity/grant
Investors: Circular Innovation Fund, Future Communities Capital, PDS Ventures and Katapault
Founded in 2022, Sparxell develops biodegradable, vegan colour pigments from plant-based cellulose extracted from waste. These pigments are used in the cosmetics industry.
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Property Filter – £584,000
Sector: Proptech
HQ: Coventry
Round: Seed
Funding type: Equity
Investors: Midlands Engine Investment Fund
Founded in 2021, Property Filter is a platform that provides data insights for property investments. Sourcing agents and investors can use the tool to guide decisions in the market.
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The post UK Tech funding roundup: This week’s deals from Luminance to Property Filter appeared first on UKTN.
