This week’s UK tech funding deals include insurance payments provider Vitesse, machine learning-powered drug discovery platform LabGenius, Maritime navigation software firm Orca AI and more.
UKTN tracked £374.5m worth of UK tech investment this week (20 May to 24 May), a 275% week-on-week increase across 14 funding rounds.
Here’s your weekly roundup of UK tech startup funding deals.
CIRCTEC – £127.8m
Sector: Climate tech
HQ: London
Round: N/A
Funding type: Equity/grant/debt
Investors: Novo Holdings, AP Moller Holding and the Dutch government
Founded in 2009, CIRCTEC has developed a process of decomposing waste tyres and converting them into usable materials through pyrolysis.
Vitesse – £73m
Sector: Insurtech
HQ: London
Round: Series C
Funding type: Equity
Investors: KKR, Hannover Digital Investments
Founded in 2014, Vitesse is an integrated treasury and payment service provider for the insurance industry that is used to manage payouts to insurance claimants.
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Grey Wolf Therapeutics – 39.3m
Sector: Health tech
HQ: Abingdon
Round: Series B extension
Funding type: Equity
Investors: ICG, Pfizer Ventures, Andera Partners, Canaan, Earlybird Venture Capital, Oxford Science Enterprises and British Patient Capital
Founded in 2017, Grey Wolf Therapeutics specialises in combating tumours with its novel anti-cancer treatment.
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LabGenius – £35m
Sector: Health tech
HQ: London
Round: Series A
Funding type: Equity
Investors: M Ventures, Octopus Ventures, LG Corp, Atomico, Kindred Capital, Lux Capital and Obvious Ventures
Founded in 2012, LabGenius has developed a machine learning-powered drug discovery platform to research solutions against solid tumours.
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Zen Educate – £29m
Sector: Edtech
HQ: London
Round: Series B
Funding type: Equity/debt
Investors: Round2 Capital, Adjuvo, Brighteye Ventures, FJ Labs, Ascension Ventures and angels
Founded in 2016, Zen Educate is a digital platform to connect schools with supply staff.
Reactive Technologies – £25m
Sector: Energy
HQ: London
Round: Series D
Funding type: Equity
Investors: M&G’s Catalyst investment, BGF, and Breakthrough Energy Ventures
Founded in 2010, Reactive Technologies has developed software to measure power grid stability.
Orca AI – £18m
Sector: AI/Maritime tech
HQ: London
Round: N/A
Funding type: Equity
Investors: OCV Partners, Mizmaa Ventures, Ankona Capital Partners, Santa Barbara Venture Partners and Playfair Capital
Founded in 2018, Orca AI is an automated navigation platform for maritime journeys. The company provides its navigation software to commercial vessels.
Nory – £12.6m
Sector: AI
HQ: London/Dublin
Round: Series A
Funding type: Equity
Investors: Accel
Founded in 2021, Nory is an AI-powered operating system for hospitality businesses.
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Oxford Endovascular – £8m
Sector: Health tech
HQ: Oxford
Round: Series A+
Funding type: Equity
Investors: Parkwalk Advisors, Norcliffe Capital, Oxford Science Enterprises (OSE), Vulpes and the University of Oxford
Founded in 2015, Oxford Endovascular is a University of Oxford spinout developing novel solutions to prevent brain haemorrhages.
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Viable – £2.4m
Sector: Fintech
HQ: London
Round: Seed
Funding type: Equity
Investors: Episode 1, Haatch, Portfolio Ventures and angels
Founded in 2023, Viable is a cashflow management platform for e-commerce businesses.
Medi2data – £2.1m
Sector: Health tech
HQ: Cardiff
Round: Early VC
Funding type: Equity
Investors: Wealth Club
Founded in 2017, Medi2data has developed a suite of software products used by GPs to transfer patients’ medical data.
Haz – £1m
Sector: AI
HQ: London
Round: Pre-seed
Funding type: Equity
Investors: Speedinvest, scout programmes from A16Z, Atomico and Concept Ventures and angels
Founded in 2023, Haz is an app that uses AI to automatically scan email receipts from digital purposes, gathering the necessary information to list an item for resale.
KARRI – £775,000
Sector: Telecomms
HQ: London
Round: Pre-seed
Funding type: Equity
Investors: 468 Capital and angels
Founded in 2022, KARRI develops GPS-enabled ‘smart’ walkie-talkies for children and parents to communicate as an alternative to smartphones.
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Polybox – £500,000
Sector: AI/marketing
HQ: Newcastle
Round: Pre-seed
Funding type: Equity
Investors: Northstar Ventures, Creative UK and angels
Founded in 20, Polybox is a data analysis and reporting tool for marketing agencies to pull together data from various sources such as Google and Meta into a single dashboard.
The post UK tech funding roundup: This week’s deals from CIRCTEC to Polybox appeared first on UKTN.
