In this episode of United Kingdom Tech - Weekly Deals Roundup: United Kingdom Tech saw 29 companies including GWI, Nuclera Nucleics, Veed and others raise over $361 million from investors such as Permira, G. K. Goh Holdings and Sequoia Capital, among others.
Welcome back to United Kingdom Tech Weekly Deals Roundup, a weekly podcast by Tracxn for key startup deals in United Kingdom from last week.
In this edition, we will cover funding rounds of GWI, Nuclera Nucleics, and more. In exits, we will cover the acquisition of Swivel Secure by BIO-key among others.
Starting with our deep dive into funding rounds, tech companies in United Kingdom raised around $301 million in funding across 28 funding rounds during this week.
London-based Enterprise Applications startup, GWI, raised $180 million in a Series B funding round from Permira. GWI is a cloud-based platform for generating consumer insights. GWI provides a market research platform that offers audience insights tools to assist in the process of analytics that will help users to understand what consumers want and how to target them. GWI also provides features such as digital insight data from countries all around the world that assists users to generate ideas and measure impact. Founded in 2009, GWI has raised $220 million till date.
FinnTech startup, Qredo, raised $60 million in a Series A funding round led by 10T with participation from Liberty City Ventures, Vectr Ventures, GMF Capital, and others. Qredo offers API and SDK-based encryption solutions for data security, privacy, anonymity, and compliance. Qredo's SDK is available for the deployment of mobile, web apps, IoT, bitcoin, the blockchain, and more. Founded in 2012, London-based Qredo has raised $77 million till date.
*The funding round included $60 million of primary capital and $20 million from secondary investors. We have considered the primary capital.
Stevenage-based Life Sciences startup, Nuclera Nucleics, raised $42 million in a Series B funding round from G.K. Goh Holdings, Amadeus Capital, M&G, and others. Nuclera Nucleics is a developer of a desktop bioprinter to produce genes and proteins. Nuclera Nucleics has developed an eProtein desktop bioprinter to deliver high-value proteins through the novel combination of eProtein synthesis and eDrop digital microfluidics technology. Founded in 2013, Nuclera Nucleics has raised $54 million till date.
London-based Enterprise Applications startup, Veed, raised $35 million in a Series C funding round from Sequoia Capital. Veed is an online video editing platform. Veed enables users to upload videos on the platform. Veed's features include the ability to add an image or subtitles or text to a video. Veed also enables users to crop, filter or draw on a video, create an Instagram template, slow-motion videos, add stickers, shapes, watermarks and others. Founded in 2019 by King’s College London alumni, Veed has raised $35 million till date.
Life Sciences startup, Biofidelity, raised $23 million in a Series A funding round led by Octopus Ventures with participation from SBI Investment. Biofidelity is a Developer of a molecular diagnostic assay for the detection of target DNA sequences. Biofidelity uses a proprietary ASPYRE technology to develop genetic panels for the detection of Melanoma, Head & neck, Liver & kidney, Colorectal, and Breast cancer. Founded in 2002 by University of Cambridge alumni and University of Oxford alumni, Cambridge-based Biofidelity has raised $36 million till date.
FinTech startup, OpenGamma, raised $21 million in a Series E funding round led by Allianz X. OpenGamma provides a SaaS-based solution for derivatives risk analytics. OpenGamma offers Strata - a risk management software for the financial services industry, specifically for use in the derivatives OTC markets. OpenGamma refers to its solutions as "Risk as a Service" and its products cover ETD, OTC margin calculations, bilateral OTC margin, derivatives MTM, and Greeks calculation. OpenGamma also creates customized solutions based on its analytics platform and allows firms to use Strata for creating their own solutions. Founded in 2009, London-based OpenGamma has raised $74 million till date.
This was all from the funding updates, moving on to the exits. United Kingdom Tech observed 12 exits during the week of 06 Feb 2022.
Wetherby-based cybersecurity startup, Swivel Secure, was acquired by BIO-key. Swivel Secure provides a two-factor authentication-based I A M security solution to enterprises employing both tokenless and token-based one-time code delivery. Swivel Secure solution is based on a challenge-response system that secures and protects the on-premise and cloud-based systems of the enterprise by implementing intelligent, adaptive, risk-based, and user-centric authentication. Swivel Secure's supported token factors include OAuth tokens, time-based, event-based, and transactional tokens and is compliant with PCI data security standards, GCSx PSN, SOX, and ISO 27001. Swivel Secure was founded in 2000.
London-based media startup, Flourish, was acquired by Canva. Flourish offers data visualization and storytelling for the media and publishing industry. Flourish offers a platform for charts, maps, graphics, and interactives for visualizing, presenting, and telling stories with data. Flourish caters to businesses, newsrooms, and agencies. Founded in 2016, Flourish has raised $1 million till date from LocalGlobe, Founders Factory, and others.
London-based Ed-tech startup, Seneca Learning, was acquired by GoStudent. Seneca Learning is an online homework and revision platform for KS2, KS3, GCSE, and A-level students. Seneca Learning offers courses for various subjects which include English, French, History, Geography, and more. Seneca Learning also enables teachers to set automatically marked assignments, monitor students' progress, and increase attainment. Seneca Learning was Founded in 2016.
Bristol-based enterprise application startup, Roseta, was acquired by Huboo. Roseta is a provider of cloud-based eCommerce integration for businesses. Roseta offers integration for eCommerce, marketplace, ERP, fulfillment, accounting, CRM, and more. Roseta offers integration like customer experience management, customized workflows, stock management, shipping management, customer returns, and more. Roseta offers solutions on the subscription-based policy. Roseta was founded in 2019.
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.