In this episode of United Kingdom Tech - Weekly Deals Roundup: United Kingdom Tech saw 25 companies including Zoovu, Allica Bank, Playermaker, and others raise over $346 million from investors such as FTV Capital and Ventura 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 Zoovu, Allica Bank, Playermaker, and more. In exits, we will cover the acquisition of Sugar by Uncapped, among others.
Starting with our deep dive into funding rounds, tech companies in the United Kingdom raised over $346 million of funding across 25 funding rounds during this week.
In a major funding round event, Enterprise Application startup, Zoovu, raised $169 million in a Series C funding round led by FTV Capital. Zoovu is a provider of an AI-based contextual marketing platform for omnichannel retailers. Zoovu offers a conversation builder to define the conversation flow and logic. It can analyze the product catalog and uses the dynamic data tagging feature to transform specifications into human-friendly labels. Its AI assistants continuously learn about customer behavior through interaction and adapt engagement accordingly. Founded in 2006, London-based Zoovu has raised $200 million till date.
London-based FinTech startup, Allica Bank, raised around $67 million in a Series B funding round. Allica Bank is a digital bank for individuals and businesses. Its services include savings and current accounts, money transfers, business loans including commercial mortgage and investment loans, bill payments, finance management, and more. Allica Bank also offers a personal savings account for consumers. Founded in 2017, Allica Bank has raised $348 million till date.
Technology startup, Playermaker, raised $40 million in a funding round led by Ventura Capital with participation from MIG CAPITAL, and Pegasus Tech Ventures. Playermaker is a wearable device providing football-focused analysis. It offers on-footwear sensors that provide detection of foot and ball interactions. Its product features include technical analysis, tactical analysis, physical analysis, load analysis, video analysis, and more. Founded in 2002, London-based Playermaker has raised $50 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 18 Jun 2022.
London-based FinTech startup, Sugar, was acquired by Uncapped. Sugar provides an online lending platform for business loans. Sugar offers advance financing of video games tax relief to gaming and app studios industries. It also offers a revenue-based financial model for its business customers to repay loans. Founded in 2019, Sugar has raised close to $2 million till date from Passion Capital, Velo Partners, and Victoria Van Lennep.
Media & Entertainment startup, Sonantic, was acquired by Spotify. Sonantic offers AI-based text to speech solutions. Sonantic provides a platform where users can enter text and the text will be converted to speech using AI. The text can be converted to various voices and languages. Founded in 2018 by Stanford University alumni, London-based Sonantic has raised over $2 million till date from January Ventures, EQT Ventures, AME Cloud Ventures, 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.