In this episode of United Kingdom Tech - Weekly Deals Roundup: United Kingdom Tech saw 12 companies including Florence, Kroo, Colorifix and others raised over $118 million from investors such as AXA Venture Partners, H&M Group, Root Capital, 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.
In this edition, we will cover funding rounds of Florence, Kroo, Colorifix, and more. In exits, we will cover the acquisition of Codeplay by Intel, among others.
Starting with our deep dive into funding rounds, tech companies in the United Kingdom raised over $118 million of funding across 12 funding rounds during this week.
In a major funding round event, HealthTech startup, Florence, raised $35 million in a Series B funding round led by AXA Venture Partners with participation from SEEK, and Root Capital. Florence is an online platform for on-demand recruitment of healthcare professionals. The professionals can apply for both short-term and long-term services like temporary nursing shifts based on their convenience. Florence's platform provides feedback on previous engagements for assistance with decision-making. Founded in 2016 by University of Edinburgh alumni, London-based Florence has raised $50 million till date.
London-based FinTech startup, Kroo, raised close to $33 million in a Series B funding round. Kroo is a digital bank for individuals. Kroo offers services such as deposit accounts, cash withdrawals, NFC-enabled debit cards, money-splitting, an expense tracker, and more. It offers real-time notifications of transactions. Founded in 2016, Kroo has raised over $70 million till date.
Chemicals and Materials startup, Colorifix, raised over $22 million in a Series B funding round led by H&M Group with participation from PDS Multinational, SAGANA, Regeneration VC, and others. Colorifix is a provider of microbial-based textile dyeing solutions. Colorifix identifies living organisms that produce specific colored pigments and the genes responsible for their production. Colorifix then creates recombinant DNA incorporating these pigment-producing genes and transfers them into host microbes that multiply and produce the required pigment in bulk. Colorifix's dyes and pigments are then used to colour synthetic and natural textile fibers, avoiding the need for harsh chemicals. Founded in 2016, Norwich-based Colorifix has raised over $25 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 05 Jun 2022.
Edinburgh-based Semiconductors startup, Codeplay, was acquired by Intel. Codeplay provides high-performance compilers and software optimization for multicore processors. Codeplay's offerings include compilers for GPUs, parallel systems, and multi-core processors. Codeplay also develops bespoke C, C++ compilers for specialized processor architectures and mobile media processors. Additionally, Codeplay provides services for its customers by developing compilers, debuggers, and profilers. Founded in 2002 by University of Cambridge alumni, Codeplay has raised close to $3 million till date from Foresight Williams.
Enterprise Applications startup, Crisp Thinking, was acquired by Kroll. Crisp Thinking is a platform offering reputation management and risk intelligence solutions. Crisp Thinking's real-time risk intelligence solutions protect brands, assets, and people from reputational damage, security threats, and online harm. Crisp Thinking's AI technology has been trained to discover and track the risk signals embedded within digital chatter to provide risk intelligence solutions. Founded in 2005, Leeds-based Crisp Thinking has raised over $31 million till date from Baird Capital, Tech Nation, Colin Brumpton, 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, 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.