Deals of the Week June 27 to July 1 – a Growth Business round-up

Deals this week include inclusive speech recognition technology, a start-up replacing plastics with mushrooms and a start-up cleaning up the mining industry

Speech recognition scale-up picks up £51m

A Cambridge-based speech recognition scale-up has raised £51.1m ($62m) in a Series B funding round led by Susquehanna Growth Equity, with participation from existing investors AlbionVC and IQ Capital.

Speechmatics has built an accurate and inclusive speech-to-text engine to understand every voice, regardless of the speakers’ demographic, age, gender, accent, dialect, or language. It provides accurate subtitles for live and pre-recorded video content and currently understands 34 languages.

Birdie brings home £24m to make community care more efficient

Home healthcare platform Birdie raised £24.7m ($30m) in Series B funding to make home healthcare more efficient. The round was led by Sofina, with participation from OMERS Ventures and follow-on investment from Index Ventures.

The solution helps manage the home care process from scheduling visits and creating care plans to invoicing, enabling professionals to deliver care efficiently by decreasing time spent on non-critical admin. The latest round takes total investment to £42.8m ($52m).

Virtual studio snaps £4.9m to create photo-realistic 3D imagery

Omi, an SaaS platform which creates photo-realistic 3D imagery and video for brands, has raised £4.9m ($6m) in seed funding led by Dawn Capital with participation from high-profile angel investors.

Omi’s technology allows brands to model their products in 3D in minutes for online marketing content without the need for photoshoots.

Start-up replacing plastics with mushrooms gets tasty £3m

A start-up looking to replace plastic-based packaging in supply chains with a mushroom-based alternative raised £3m in seed funding. The round was led by Ecovative Design with participation from high-profile angel investors.

Magical Mushroom Company combines agricultural waste with mycelium – the root structure of a mushroom – to create a material that is biodegradable, durable and comparable in price to traditional packaging like polystyrene. The material breaks down naturally in the ground in around 45 days without any additional chemicals or industrial facilities.

Employee engagement platform gets morale-boosting £1.5m

WorkBuzz, a fast-growing employee engagement platform, raised £1.5m from existing backers Mercia and Foresight via the Midlands Engine Investment Fund (MEIF), alongside funding from private investors.

The Milton Keynes-based company helps HR managers gather real-time feedback from employees through surveys, with its algorithms helping to analyse responses and highlight any areas for improvement.

Green generator cleans up with £1m in crowdfunding

Climate tech start-up IPG raised £1m through a crowdfunding campaign on Seedrs. IPG delivers a clean alternative for diesel generators in industries such as construction and mining, as well as new markets such as electric vehicle charging.

IPG’s product uses flameless combustion technology to deliver pollutant-free power from any renewable fuel while allowing for the security of a conventional fuel backup should supplies fail. This provides energy security for businesses by de-risking the switch to hydrogen and biofuels.

More Deals of the Week

Deals of the Week June 20 to June 24 – a Growth Business round-up

Deals of the Week June 13 to June 17 – a Growth Business round-up

Dom Walbanke

Dom Walbanke

Dom is a feature writer for Growth Business and Small Business, focused on matters concerning start-ups and scale-ups. He has also been published in the Independent, FourFourTwo magazine and various lifestyle...

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