This week’s UK tech funding deals include fintech giant SumUp, digital-only AI-powered insurance provider Urban Jungle, quantum computing specialist Riverlane and more.
UKTN tracked £1.44bn worth of UK tech investment this week (29 April to 3 May), a 3,011% week-on-week increase across 17 funding deals. This surge is skewed by the £1.28bn in debt financing secured by SumUp. Excluding this, UK tech funding increased by 256% week over week.
Here’s your weekly roundup of UK tech startup funding deals.
SumUp – £1.28bn
Sector: Fintech
HQ: London
Round: Debt financing
Funding type: Debt
Investors: Goldman Sachs, AllianceBernstein, Apollo Global Management, Arini, Deutsche Bank AG, Fortress Investment Group, SilverRock Financial Services, and Vista Credit Partners and funds managed by BlackRock, Crestline Investors, Liquidity Capital, Oaktree Capital Management, Sentinel Dome, and Temasek.
Founded in 2012, SumUp provides a suite of tools for merchants including business accounts, online stores, invoicing and point-of-sales registers.
Capify – £100m
Sector: Fintech
HQ: Greater Manchester
Round: Debt financing
Funding type: Debt
Investors: Pollen Street Capital
Founded in 2018, Capitfy is a digital bank specialising in loans for small and medium-sized enterprises.
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Jigsaw – £12m
Sector: AI
HQ: London
Round: Series A
Funding type: Equity
Investors: Exor Ventures and angels from Linklaters, Morgan Stanley and KKR
Founded in 2019, Jigsaw is an AI tool to quickly generate business diagrams such as corporate structure charts, organisational charts and data flows.
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Urban Jungle – £11.2m
Sector: Insurtech
HQ: London
Round: Growth equity
Funding type: Equity
Investors: Ingka Investments, Intact Ventures, Mundi Ventures, Eka Ventures, the Sony Innovation Fund and angels
Founded in 2017, Urban Jungle is a digital-owner insurance provider for homeowners and renters that uses AI fraud detection technology.
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Accredit Solutions – £10m
Sector: Event tech
HQ: London
Round: N/A
Funding type: Debt/equity
Investors: Gresham House Ventures
Founded in 2017, Accredit Solutions provides event organisers with accreditation software to perform security screenings for staff.
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Locate Bio – £9.2m
Sector: Health tech
HQ: Nottingham
Round: Growth equity
Funding type: Equity
Investors: Mercia Ventures, BGF
Founded in 2001, Locate Bio develops advanced medical equipment for surgical professionals.
PlaqueTec – £6.4m
Sector: Biotech
HQ: Cambridge
Round: Growth equity
Funding type: Equity
Investors: Lord Moynihan of Chelsea and the Future Fund
Founded in 2008, PlaqueTec analyses medical data in an effort to better understand and treat coronary artery disease.
Tuza – £4m
Sector: Fintech
HQ: London
Round: Seed
Funding type: Equity
Investors: Connect Ventures, Northzone, Triple Point and Entrepreneur First
Founded in 2023, Tuza is a comparison site helping SMEs choose a preferred payment processing platform.
Riverlane – £2.1m
Sector: Quantum computing
HQ: Cambridge
Round: Grant
Funding type: Grant
Investors: Horizon Europe
Founded in 2016, Riverlane is a quantum startup developing an error correction decoder.
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Made With Intent – £1.5m
Sector: Ecommerce
HQ: Liverpool
Round: Seed
Funding type: Equity
Investors: Mercuri, Portfolio Ventures and Haatch
Founded in 2022, Made With Intent provides ecommerce clients with data insights to determine business performance.
Zing – £1.25m
Sector: SaaS
HQ: London
Round: Follow-on
Funding type: Equity/debt
Investors: Maven Capital Partners
Founded in 2018, Zing is a consulting partner of communication technology implementation service Twilio. Zing’s quick-build platform accelerates the roll-out of Twilio implementations.
Symbe – £1.2m
Sector: AI
HQ: London
Round: Pre-seed
Funding type: Equity
Investors: Concept Ventures, Pact VC, Notion Capital and angels
Founded in 2023, Symbe is an AI tool for sales teams to quickly generate custom business cases for clients.
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CropBio – £1.2m
Sector: Agritech
HQ: Cheshire
Round: Seed
Funding type: Equity
Investors: The Grantham Foundation for the Protection of the Environment, SoSV, Pondersoa Ventures and Catapult Ventures Group
Founded in 2019, CropBio is developing an environmentally sustainable solution to tackle drought and soil regeneration with specialised microbes.
Firenze – £750,000
Sector: Fintech
HQ: Manchester
Round: Pre-seed
Funding type: Equity
Investors: Angels
Founded in 2023, Firenze provides wealth managers with an embedded finance platform to offer loans secured against investments.
Nusku – £727,000
Sector: Climate tech
HQ: Bristol
Round: Grant
Funding type: Grant
Investors: Department for Energy Security and Net Zero
Founded in 2022, Nusku is a climate tech company developing a heat pump system that it claims can be installed much faster than alternatives.
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RoEx – £250,000
Sector: AI
HQ: London
Round: Grant
Funding type: Grant
Investors: Innovate UK
Founded in 2022, RoEx is an AI startup developing audio production tools for the music industry.
Pollen Careers – £112,000
Sector: Recruitment
HQ: London
Round: Pre-seed
Funding type: Equity
Investors: Crowdfunded
Founded in 2023, Pollen Careers is a job screening platform that aims to remove bias against diverse applicants.
The post UK tech funding roundup: This week’s deals from SumUp to Pollen Careers appeared first on UKTN.
