In this episode of United Kingdom Tech - Weekly Deals Roundup: United Kingdom Tech saw 20 companies including Improbable, Fidel, Moneybox, and others raise over $367 million from investors such as SoftBank, Bain Capital Ventures and Fidelity Investments, among others.
***Please note the acquisition of Egress mentioned in this podcast is incorrect. Kindly ignore that part***
Welcome back to United Kingdom Tech Weekly Deals Roundup, a weekly podcast by Tracxn for key startup deals in the United Kingdom from last week.
In this edition, we will cover funding rounds of Improbable, Fidel, Moneybox, and more. In exits, we will cover the acquisition of The Filter by Aferian, among others.
Starting with our deep dive into funding rounds, tech companies in the United Kingdom raised $367 million of funding across 20 funding rounds during this week.
In a major funding round event, Gaming Tech startup, Improbable, raised $150 million in a funding round led by SoftBank and Andreessen Horowitz with participation from CMT Association, CMT Digital, SIG, and others. Improbable achieved unicorn status on 28 April 2017 when it raised $658 million from SoftBank. Improbable provides distributed simulation software for video games and corporate sectors. Improbable has developed SpatialOS, a cloud-based computing platform that enables game developers to create, run, and operate online games. Improbable allows developers to write code using any simulation software and distribute their code across multiple machines. Founded in 2012 by University of Cambridge alumni, London-based Improbable has raised $977 million till date.
In another major funding round event, FinTech startup, Fidel, raised $65 million in a Series B funding round led by Bain Capital Ventures with participation from QED Investors, Nyca, Citi Ventures, and others. Fidel is a provider of open banking APIs for transactional data aggregation. Fidel enables developers to build event-driven experiences on top of payment cards using its API. Fidel also allows users to build transactional data such as amount, geolocation, precise time and merchant IDs from major card networks. Founded in 2018, London-based Fidel has raised $88 million till date.
London-based FinTech startup, Moneybox, raised close to $46 million in a Series D funding round led by Fidelity Investments and Polar Capital. Moneybox is an app-based micro-investment platform. Moneybox allows users to save and invest on an ongoing basis, as well as link their cards to the app, which then rounds up the expenses and invests the change in various stocks. Founded in 2015, Moneybox has raised close to $125 million till date.
Carmoola, a FinTech startup, raised over $35 million in a Seed funding round from Clocktower Technology Ventures, Blenheim Chalcot, InMotion Ventures, and others. Carmoola is an online marketplace for auto loans. Carmoola enables users to calculate car loans and interest rates using the online calculator feature in the app. Carmoola also provides digital cards for making payments. Founded in 2021, Carmoola has raised over $35 million till date.
This was all from the funding updates, moving on to the exits. United Kingdom Tech observed 15 exits during the week of 10 Apr 2022.
Bath-based E-commerce startup, The Filter, was acquired by Aferian for $2 million. The Filter is a recommendation platform for digital and retail businesses. The Filter offers personalisation and insight services, as well as customised recommendations based on relevant content for customer engagement. Founded in 2004, The Filter has raised around $6 million till date from Eden Ventures.
In another acquisition event, London-based Life Sciences startup, ReViral, was acquired by Pfizer. ReViral is a developer of antiviral compounds for RSV. ReViral has developed RV521, an antiviral therapy for Respiratory Syncytial Virus, which is an infection that often leads to asthma, COPD, and pneumonia. Founded in 2011, ReViral has raised $121 million till date from Andera Partners, Perceptive Advisors, BracePhrma, and others.
HealthTech startup, My Meds & Me, was acquired by Drug Safety and Pharmacovigilance Services Solutions. My Meds & Me provides adverse event and product quality capture solutions for life sciences. My Meds & Me enables access to standardized AE data which can be used to understand any potential emerging safety or quality issues. Founded in 2012, London-based My Meds & Me has raised around $3 million till date from Albion Capital Group.
Egress, a London-based Enterprise Infrastructure startup, was acquired by FPE Capital. Egress is a provider of cloud-based email and data security solutions. Egress eliminates email risks, including zero-day phishing exploits and business email compromise. Egress also uses machine learning to stop email security breaches, and analyzes message content, recipients, and domains in real-time to understand user behaviour, spot anomalies, and remove the risk of a costly breach. Founded in 2007, Egress has raised close to $69 million till date from Albion Capital Group and FTV capital.
This was all for today, we will be back next Monday with more updates. You can subscribe to our podcast on Google Podcasts, Spotify, and Apple Podcast to stay updated. If you have any feedback, please reachout to us at podcast@tracxn.com. Thank you for tuning in today, see you next week.