In this episode of United Kingdom Tech - Weekly Deals Roundup: United Kingdom Tech saw 33 companies including Creditspring, uMotif, Urban Jungle and others raised close to $215 million from investors such as Athyrium Capital Management, Intact Ventures, OGCI, 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 Creditspring, uMotif, Urban Jungle, and more. In exits, we will cover the acquisition of Ai London by Lumera, among others.
Starting with our deep dive into funding rounds, tech companies in the United Kingdom raised close to $215 million of funding across 33 funding rounds during this week.
In a major funding round event, London-based FinTech startup, Creditspring, raised $60 million in a Series A funding round. Creditspring is a platform for personal loans. Creditspring offers a product to improve its customers' financial well-being and present them with an alternative to overpriced loans. Creditspring has applied to the FCA for permission to grant consumer credit. Founded in 2016 by University of Oxford alumni, Creditspring has raised $79 million till date.
HealthTech startup, uMotif, raised over $25 million in a Series B funding round led by Athyrium Capital Management with participation from LP. uMotif is a cloud-based application for patient engagement and care coordination. uMotif offers a SaaS application that allows patients to track their own health and progress using a mobile app. uMotif quantifies a patient's activity between visits through self-reporting and provides reminders and alerts for adherence. Founded in 2012, London-based uMotif has raised over $35 million till date.
Urban Jungle, an InsurTech startup, raised over $20 million in a Series A funding round led by Intact Ventures with participation from Ingka, Eka Ventures, and Rob Devey. Urban Jungle is a home content insurance platform for renting and sharing economies. Urban Jungle provides cover against flood, fire, storm damage, theft, vandalism, and accidental damage. Founded in 2016 by an ex-Facebook employee, London-based Urban Jungle has raised over $41 million till date.
London-based Real Estate and Construction Tech startup, Converge, raised close to $19 million in a Series A funding round from OGCI. Converge provides connected sensor networks for monitoring construction projects. Converge uses a combination of hardware sensors, AI, and cloud software that helps in improving visibility and reducing cost. Founded in 2014 by University of Cambridge alumni, Converge has raised close to $19 million till date.
Life Sciences startup, Nature Metrics, raised $15 million in a Series B funding round led by 2150 with participation from SYSTEMIQ, BNP Paribas, Ananda Impact Ventures, and others. Nature Metrics is a developer of molecular methods for biodiversity assessment. The company offers solutions for environmental management by providing GCN eDNA service for water, metabarcoding that generates diverse data for entire communities using genomics, and metagenomics studies. Founded in 2014, Egham-based Nature Metrics has raised over $27 million till date.
This was all from the funding updates, moving on to the exits. United Kingdom Tech observed 7 exits during the week of 29 May 2022.
London-based FinTech startup, Ai London, was acquired by Lumera. Ai London is a provider of wealth management solutions. The company builds and manages CRM, PAS, and data analytics solutions. Ai London offers solutions such as Ai-CRM for customer relationship and risk management, Ai-PAS for insurers to optimize business outcomes, and Ai-BDA which uses artificial intelligence, Blockchain, external data sources, and investment systems to build and test engagement type products. Ai London was founded in 2014.
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.