This week’s UK tech funding deals include radiology workflow management software firm Hexarad, hydrogen energy-harvesting boat maker DRIFT Energy and more.
UKTN tracked £67m worth of UK tech investment this week (12 August to 16 August), an 8% week-on-week decrease across eight funding rounds.
Here’s your weekly roundup of UK tech startup funding deals.
Encord – £23.4m
Sector: AI
HQ: London / San Francisco
Round: Series B
Funding type: Equity
Investors: Next47, Y Combinator, CRV, Crane Venture Partners
Founded in 2020, Encord’s platform is used by businesses to make unstructured data readable by machines.
Hexarad – £11m
Sector: Health tech
HQ: London
Round: Series B
Funding type: Equity
Investors: MTIP and Foresight Group
Founded in 2016, Hexarad provides workflow management software to optimise radiology work.
Read more
Gaussion – £9.4m
Sector: Energy
HQ: London
Round: Series A
Funding type: Equity
Investors: Autotech Ventures, BGF and the UCL Technology Fund
Founded in 2017, Gaussion is developing fast-charging battery technology for electric vehicles.
Read more
Promethean Particles – £8m
Sector: Climate tech
HQ: Nottingham
Round: Series A
Funding type: Equity
Investors: Mercia Ventures, Aramco Ventures, University of Nottingham, Midlands Engine Investment Fund I, TSP Ventures and the East Midlands Early Growth Fund
Founded in 2008, Promethean Particles manufactures metal-organic frameworks (MOFs) for carbon capture.
Read more
DRIFT Energy – £5m
Sector: Energy/climate tech
HQ: Bath
Round: Series A
Funding type: –
Investors: Octopus Ventures
Founded in 2021, DRIFT Energy develops specialised yachts that can harvest hydrogen for clean energy as they sail. DRIFT’s ships can be deployed to other vessels at sea for refuelling.
Read more
Trumpet – £4.9m
Sector: SaaS
HQ: London
Round: Seed
Funding type: –
Investors: AlbionVC, Lightbird Ventures, Anamcara Capital and Triple Point Ventures
Founded in 2021, Trumpet is a software platform that centralises sales material and marketing content.
Clearly – £3.4m
Sector: Climate tech
HQ: London
Round: Seed
Funding type:
Investors: Pace Ventures, Nine Realms, Mobilion, Next Gear and M1720 alongside notable angels Lord Nash and Margaux Primat
Founded in 2021, Clearly uses AI to simulate emission levels for fleet vehicle trips to help operators meet net-zero goals.
Read more
Cosine – £1.9m
Sector: AI
HQ: London
Round: Seed
Funding type:
Investors: Uphonest, SOMA Capital, Lakestar and Focal
Founded in 2022, Cosine claims it can train human reasoning into AI models through proprietary synthetic data generation.
Read more
The post UK tech funding roundup: This week’s deals from Encord to Cosine appeared first on UKTN.
ClearlyCosineDrift EnergyEncordfundingGaussionHexaradHÍREKInvestment NewsPremiumPromethean ParticlesVILÁG ANGOL