In this episode of United Kingdom Tech - Weekly Deals Roundup: United Kingdom Tech saw 13 companies including VitroLabs, SLAMcore, Decrypt and others raised close to $85 million from investors such as Agronomics, ROBO Global, ConsenSys Mesh, 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 VitroLabs, SLAMcore, Decrypt, and more. In exits, we will cover the acquisition of Ocean Outdoor by Atairos among others.
Starting with our deep dive into funding rounds, tech companies in the United Kingdom raised close to $85 million of funding across 13 funding rounds during this week.
London-based E-commerce startup, VitroLabs, raised $46 million in a Series A funding round led by Agronomics with participation from Khosla Ventures, Bestseller, Kering, and others. VitroLabs is a provider of artificial, lab-grown leather materials. VitroLabs develops alternative leather by conducting a biopsy of animal cells in a simulated environment. It uses seeded cells and nutrients to develop an animal hide, which then undergoes the tanning process. Founded in 2016, VitroLabs has raised $55 million till date.
Enterprise Applications startup, SLAMcore, raised $16 million in a Series A funding round led by ROBO Global, and Presidio Ventures with participation from Amadeus Capital, IP Group, MMC Ventures, and others. SLAMcore is a provider of localization and mapping algorithms for multiple applications. SLAMcore offers algorithms for AR/VR systems, mobile robotics, drones, and autonomous vehicles. The company uses sensor fusion and artificial intelligence technology for devices that need spatial awareness. Founded in 2016, London-based SLAMcore has raised $26 million till date.
Decrypt, a Media & Entertainment startup, raised $10 million in a Series A funding round led by ConsenSys Mesh with participation from Hack VC, Protocol Labs, HoneyDAO, and others. Decrypt is an online platform offering multi-category news. Decrypt offers news and information on multiple topics such as technology, cryptocurrency & blockchain, politics, art & culture, education, reviews, and more. Founded in 2012, London-based Decrypt has raised $10 million till date.
This was all from the funding updates, moving on to the exits. United Kingdom Tech observed 5 exits during the week of 08 May 2022.
London-based Enterprise Applications startup, Ocean Outdoor, was acquired by Atairos for $580 million. Ocean Outdoor is a digital OOH network for large-format digital billboards, landmarks, and premium banner locations. Ocean Outdoor provides various OOH advertising options and integrates with different technologies such as Wi-Fi, live data feed, live video stream, scoreboard, and more. Founded in 2007, Ocean Outdoor has raised over $11 million till date from Searchlight Capital, LDC, and Smedvig Capital.
Enterprise Applications startup, TranslateMedia, was acquired by Toppan Leefung. TranslateMedia is a provider of professional translation, localization, and transcreation services. It uses its proprietary tools and an online translation management system that allows the user to upload files for obtaining an instant quote based on the word count. TranslateMedia also uses a machine translation system based on neural networks. London-based TranslateMedia was founded in 2004.
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.