In this episode of United Kingdom Tech - Weekly Deals Roundup: United Kingdom Tech saw 27 companies including Thought Machine, Modulr Finance, Buildots, and others raised around $489 million from investors such as Temasek, General Atlantic, Viola Group, 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 Thought Machine, Modulr Finance, Buildots, and more. In exits, we will cover the acquisition of Qmee by Kantar, among others.
Starting with our deep dive into funding rounds, tech companies in the United Kingdom raised around $489 million of funding across 27 funding rounds during this week.
In a major funding round event, London-based FinTech startup, Thought Machine, raised $160 million in a Series D funding round led by Temasek with participation from ING, JPMorgan Chase, MorganStanly, and others. Thought Machine achieved unicorn status in the year 2021 when it raised $200 million from Nyca, JPMorgan, and others. Thought Machine is a provider of cloud-based core banking solutions. Thought Machine provides an API-based solution for bank functions including the design and implementation of digital banking products such as loans, credit cards and mortgages, vaults, and more. Founded in 2014 by University of Edinburgh alumni, Thought Machine has raised $572 million till date.
London-based FinTech startup, Modulr Finance, raised $108 million in a Series C funding round led by General Atlantic with participation from Blenheim Chalcot, Highland Europe, PayPal, and others. Modulr Finance provides API payments infrastructure solutions to embed payment services into the business's software. Businesses can open unlimited accounts, with sort codes or Euro IBANs. Modulr Finance's platform enables users to segregate paid-in funds by debtor or payment type, to make reconciliation faster and less manual. Founded in 2015 by University of Oxford alumni, Modulr Finance has raised $188 million till date.
Real Estate and Construction Tech startup, Buildots, raised $60 million in a Series C funding round led by Viola Group, and O.G. Tech with participation from Future Energy Ventures Management, TLV Partners, and Lightspeed Venture Partners. Buildots is an AI-enabled construction process management platform. The platform features include project tracking, subcontractors management, automated work logs, payments management, scheduling, defect management, and more. Buildots leverages AI and computer algorithms to track activities on construction sites. Founded in 2018, London-based Buildots has raised $106 million till date.
Energi, a Blockchain Technology startup, raised $50 million in a Series C funding round led by Gem Digital. Energi is a provider of blockchain-based networks for security and yield farming. Energi offers a dozen farming pools that offer high-yield returns. Users can receive rewards and fee discounts by inviting their friends to trade on DEX. Energi enables users to trade, buy, and store non-fungible tokens. Founded in 2017, Energi has raised $50 million till date.
Life Sciences startup, Vivasure, raised close to $23 million in a Series D funding round from Evonik Venture Capital, Orchestra BioMed, Life Sciences Partners, and others. Vivasure has developed a patented bioabsorbable implant technology and delivery systems. The company has developed a patch-based large-bore percutaneous closure implant using the PerQseal technology. Its implant is CE marked as a fully absorbable implant and percutaneous delivery system for the closure of large arteriotomies in transcatheter procedures. Founded in 2009, Vivasure has raised over $48 million till date.
London-based E-commerce startup, Bike Club, raised close to $21 million in a Series B funding round from Circularity Capital. Bike Club is an online platform offering subscription-based bicycles for kids. The product catalog includes bicycles and accessories like helmets, lights, tools, and more. Bike Club enables users to exchange the bike after a certain period. Founded in 2016, Bike Club has raised around $28 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 22 May 2022.
London-based E-commerce startup, Qmee, was acquired by Kantar. Qmee is an app-based online platform offering rewards. Qmee enables users to earn cashback & rewards by answering the survey questions. Users can also earn by sharing deals with their friends. Some of the websites associated with the company are Amazon, Flipkart, eBay, and more. Founded in 2012 by the University of Cambridge alumni, Qmee has raised over $4 million till date.
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.