In this episode of United Kingdom Tech - Weekly Deals Roundup: United Kingdom Tech saw 30 companies including Zapp, InstaDeep etc raised over $586 million from investors such as Lightspeed Venture Partners, 468 Capital BroadLight 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 Zapp, Instadeep, and more. In exits, we will cover the acquisition of Cotopaxi by Spirax-Sarco Engineering among others.
Starting with our deep dive into funding rounds, tech companies in United Kingdom raised around $586 million of funding across 30 funding rounds during this week.
Online Grocery startup, Zapp, raised $200 million in a Series B funding round led by Lightspeed Venture Partners, 468 Capital, BroadLight Capital, and others. Zapp is an online platform offering multi-category grocery products. Zapp's product offerings include drinks & beverages, groceries, snacks, ice cream, pharmacy, baby products, pet essentials, and more. Zapp offers mobile applications for Android and iOS platforms. Founded in 2020, Sevenoaks-based Zapp has raised $200 million till date.
London-based enterprise applications startup, InstaDeep, raised $100 million in a Series B funding round led by Alpha Intelligence Capital and CDIB Capital with participation from Synergie, google, and others. InstaDeep is a Provider of AI-based solutions for organizations. InstaDeep offers products to address the challenges of optimization and automation. InstaDeep offers a decision-making system that leverages reinforcement learning to make decisions on its own. InstaDeep's product can be used to provide services in the field of logistics, finance, and healthcare. Founded in 2015, InstaDeep has raised $107 million till date.
Energy Tech startup, Nexeon, raised $80 million in a Series D funding round led by BNW Investment, SJL Partners, SKC, and others. Nexeon is a Silicon-based anode developer. Nexeon claims that they have patented a unique way of structuring silicon so that it delivers extended cycle life and increases battery capacity. Nexeon's first commercially available material is low-cost silicon. Nexeon also claims that the graphite currently used in the lithium-ion battery manufacturing process can simply be replaced with materials and used in combination with conventional polymer binders and current collectors, thus allowing for easy adoption in existing Li-ion batteries production lines. Founded in 2006, Abingdon-based Nexeon has raised $255 million till date.
London-based FinTech startup, 365 Business Finance, raised $74 million in a Series C funding round led by Kendall Capital. 365 Business Finance is a Business cash advance provider. 365 Business Finance is a direct lender for business cash advances ranging from GBP 5K-100K, with flexible repayments at a fixed percentage of card sales. 365 Business Finance offers loans for the business with an operation for at least 12 months, and average credit and debit cards sales during the period should be at least GBP 5K per month. 365 Business Finance's platform claims to have a 90% approval rate and approvals within 24 hours. Founded in 2012, 365 Business Finance has raised $74 million till date.
FinTech startup, Moneyfarm, raised $59 million in a Series D funding round led by M&G. MoneyFarm provides an online platform for investment planning & advisory services. Moneyfarm helps users in portfolio management based on their profiles and goals. Moneyfarm offers advisory services for investment in stocks & shares, pension management, and wealth management. MoneyFarm also features tools for tracking investments. Founded in 2011 by ex-Morgan Stanley employee, London-based Moneyfarm has raised $186 million till date.
London-based Environment Tech startup, Sylvera, raised $32 million in a Series A funding round led by Index Ventures and Insight Partners with participation from Salesforce Ventures, LocalGlobe, and others. Sylvera is a Provider of solutions to offset the carbon footprint. Sylvera's Users can understand the real-time carbon performance of offset projects through the platform. Sylvera also allows users to explore satellite imagery to see the real story on the ground. Founded in 2020 by London Business School alumni, Sylvera has raised $40 million till date.
Technology startup, PQShield, raised $20 million in a Series A funding round led by Lee Fixel with participation from Crane and Oxford Science Enterprises. PQShield is a Provider of quantum computing solutions for secured communication. PQShield uses post-quantum algorithms to protect data. PQShield also uses a cryptographic SDK for mobile and server technologies that can protect sensitive information, identities, and cybersecurity infrastructures. PQShield provides solutions to industries, such as the automotive, industrial, and manufacturing industries. Founded in 2018, Oxford-based PQShield has raised $27 million till date.
London-based HR Tech startup, Otta, raised $20 million in a Series A funding round led by Tiger Global Management with participation from LocalGlobe and Founder Collective. Otta is an online job portal for multiple industries. Otta's platform allows the hiring staff to post the jobs for free and recommend the jobs to the candidates based on their skills and experience. Founded in 2000 by University College London alumni and University of Cambridge alumni Otta has raised $20 million till date.
This was all from the funding updates, moving on to the exits. United Kingdom Tech observed 6 exits during the week of 30 Jan 2022.
Skelmersdale-based energy tech startup, Cotopaxi, was acquired by Spirax-Sarco Engineering for $18 million. Cotopaxi provides energy management solutions which include software and services for optimizing energy usage. Cotopaxi Energy monitoring products include the eXpert Boiler, Motor, Pump, and Fridge to track the energy of the respective equipment, alongside Strata, which is an energy management software. Cotopaxi Services provided include energy consulting, end-to-end CHP solutions, and boiler and steam audit services. Cotopaxi was Founded in 2009.
London-based gaming tech startup, Faceit, was acquired by Savvy Gaming Group. Faceit is a free-to-play eSports gaming platform. Faceit's platform helps the gamers to discover and showcase their skills to potential sponsors and professional eSports teams. Faceit's platform also runs its own eSports tournaments where individual users and teams can register and compete. Faceit's users can also add games onto the platform to compete and win awarded points. Founded in 2012, Faceit has raised $17 million till date from Makers Fund, Creator Collective Capital, and others.
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.