In this episode of United Kingdom Tech - Weekly Deals Roundup: United Kingdom Tech saw 34 companies including Monzo, Synthesia, etc raised over $916 million from investors such as ADFD, Kleiner Perkins and Chrysalis, among others.
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.Â
In this edition, we will cover funding rounds of Monzo, Synthesia, Sorted, and more. In exits, we will cover the acquisition of Mimecast by Permira, among others.
Starting with our deep dive into funding rounds, tech companies in the United Kingdom raised around $916 million of funding across 34 funding rounds during this week.
In a major funding round event, London-based FinTech startup Monzo, raised $475 million in a Series H funding round led by ADFD with participation from Accel, Goodwater Capital, Coatue, and others. Monzo is a digital bank for consumers and businesses. Monzo offers banking services such as deposit accounts, money transfers, debit cards for online and offline purchases, consumer loans, and SME loans. Monzo also offers an Android and iOS app. Founded in 2015 by University of Oxford alumni, Monzo has raised $1 billion till date and has achieved unicorn status as of 31st October, 2018.
Synthesia, an Enterprise Applications startup, raised $50 million in a Series B funding round led by Kleiner Perkins with participation from GV, FirstMark, MMC Ventures, and others. Synthesia is a provider of AI-based dubbing and subtitling solutions for video content creators. Synthesia offers video content translation in sync with the lip movements of an actor, and a dialogue track in multiple languages. Founded in 2017, London-based Synthesia has raised $66 million till date.
Manchester-based Transportation and Logistics Tech startup, Sorted, raised $40 million in a Series C funding round led by Chrysalis and Arete Capital Partners. Sorted is a provider of SaaS-based shipping and fulfillment enablers for e-commerce. Sorted offers a platform that leverages data-driven solutions for delivery and carrier management, shipping, and delivery tracking. Sorted directs the online purchases to warehouses during checkout, for fulfillment and doorstep delivery. Sorted enables retailers to increase conversion rates, reduce abandoned carts and increase customer loyalty. Founded in 2010 by University of Cambridge alumni, Sorted has raised $101 million till date.
FinTech startup Pento, raised $35 million in a Series B funding round led by Tiger Global Management and Avid Ventures with participation from LocalGlobe, General Catalyst Partners, Latitude, and others. Pento is a provider of payroll management solutions. Pento offers payroll for wage payment and automated reporting, and its subscription plans include features like employee access to the platform, as well as profile and payslip management. Founded in 2016, London-based Pento has raised $54 million till date.
In another funding round, Easol, a Travel and Hospitality Tech startup, raised $25 million in a Series A funding round led by Tiger Global Management with participation from Foundation Capital, Notion, Y Combinator, and others. Easol is a provider of SaaS-based e-commerce software for travel businesses. Easol allows travel businesses to manage their business and sell directly through their own website with features like smart bookings, payments, marketing tools, multiple payment methods and digital branding. Founded in 2017, London-based Easol has raised $29 million till date.
Atom Learning, an EdTech startup, raised $25 million in a Series A funding round led by SoftBank Vision Fund. Atom Learning is the provider of an adaptive learning platform. Atom Learning offers tailored revision courses for the ISEB Common Pre-Tests, 11+, London Consortium, school-specific assessments, and KS2 preparation. Atom Learning includes various platforms such as 'Atom Nucleus', a personalised learning platform for students at home, and 'Atom Prime', a lesson planning and delivery platform for teachers in the classroom. Atom Learning includes adaptive learning, mock tests, and analytics. Founded in 2017 by University of Oxford alumni, London-based Atom Learning has raised $25 million till date.
London-based FinTech startup, Cassini Systems, raised $20 million in a Series B funding round led by Ten Coves Capital with participation from Mosaik Partners. Cassini Systems is the provider of a pre-trade platform for OTC trading and analytics. Cassini Systems offers products for margin calculation, trade obligation routing, lifetime cost analysis, tradeweb integration and limit checking. Founded in 2013, Cassini Systems has raised $20 million till date.
This was all from the funding updates, moving on to the exits. United Kingdom Tech observed 10 exits during the week of 12 Dec 2021.
In a major acquisition, Cybersecurity startup Mimecast was acquired by Permira for $5 billion. Mimecast is a provider of cloud-based email security solutions. Mimecast identifies and drops suspicious connections and provides a zero-hour threat analysis to identify emerging threats. Mimecast includes features like message content filtering, policy-based email content, attachment and image filtering, as well as web and data security. Founded in 2003, London-based Mimecast has raised $83 million till date from Dawn Capital and Index Ventures.
Benevolent, a Life Sciences Tech startup, was acquired by Odyssey Acquisition. Benevolent is a developer of an AI-based platform for drug discovery and development. Benevolent provides machine-curated and proprietary insights about a disease. Benevolent also utilises AI models to identify targets, and to determine the right mechanism to modulate and identify patient genotypes for precision medicine. Founded in 2013, London-based Benevolent has raised $281 million till date from Temasek and Woodford Investment Management.
Leeds-based Tissuemed was acquired by Becton Dickinson. Tissuemed is a developer of bioadhesive films to prevent body fluid and air leakage during surgery. Tissuemed develops and markets synthetic, bioadhesive films to prevent leakage of air, blood, cerebrospinal and other body fluid during surgery. Tissuemed offers products with a patented polymer on one side for tissue surface-binding, and a non-adhesive layer on the other side for structural support, ease of handling and the prevention of post-surgical adhesions.Tissuemed’s TissuePatch films are resorbable and utilise polymers commonly used in other implants. Founded in 1985, Tissuemed has raised $12 million till date from the UK Government, Baird Capital and 3i.
This was all for today, we will be back next Monday with more updates. You can subscribe to our podcast on Google Podcasts 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.