London fintech raises £17m from Silicon Valley backers
A London-based fintech that aims to simplify and streamline billing and invoicing for businesses has been backed by Silicon Valley VC Andreessen Horowitz – the early backer of Airbnb, Facebook and Slack.
Sequence, a B2B software start-up which helps with billing templates and collecting payments, secured $19m (£16.8m) in its first funding round and is led by one of few female founders in the fintech industry.
Pre-packed home start-up handed £10m
A start-up that allows net-zero homes to be built quickly and more sustainably has raised £10m in Series A funding. Sustainable Future Ventures (SFV), Regal London, CEMEX Ventures, Blackhorn Ventures GroundBreak Ventures, Goldachre and Leela Capital participated in the round.
London-based Modulous aims to improve construction efficiency through its “kit of parts” pack that can be assembled close to site. The parts have a digital equivalent on the company’s software platform so architects can save time on design and see if a project is economically viable from the outset.
Tuber Group eats up fresh produce firm for £4.8m
Tuber Group completed the acquisition of fresh produce business MyFresh after finance broker Reach Commercial Finance secured three different funding solutions worth £4.8m.
Hull-based Tuber Group trades fresh and frozen produce globally to B2B and retail clients. Bedfordshire-based MyFresh is the UK’s largest freshly prepared produce business, prepping vegetables and producing pastes for the food service industry.
Customer success platform logs £4m
London and Madrid-based SaaS platform Velaris has secured £4.1m in seed funding led by Octopus Ventures. Zaka and Fintech 365 also participated in the round.
A platform for B2B tech companies, Velaris is a platform for businesses to view and organise how they manage their customers. Different dashboards reveal customer touch points and contain information like email conversations, renewal dates and activity history.
Clinical trial software raises £2.5m
Medtech start-up Stitch raised £2.5m in a seed funding round led by Connect Ventures. Further funding came from Form Ventures, Boost Capital and angel investors.
Stitch is a platform that provides clear communication to patients prior to a clinical trial and measures their data to improve future trials. It can be used to predict dropouts and get a patient’s opinion on study technology.
Speech to text start-up secures £2.4m
London-based AI start-up NeuralSpace raised £2.4m in seed funding with a £960,000 add-on investment for its speech to text platform. Merus Capital and GoHub co-led the round with participation from APX, Techstars and Verissimo.
NeuralSpace uses AI to recognise different languages, then translate and convert that speech into text, which can then be used for multi-language customer service chatbots on websites.
Oil testing device fuelled with £2.2m
An Aberdeen-based lab tech firm raised £2.2m from Edinburgh-based Par Equity, with further capital received from existing investors Eos, Newable Ventures and Scottish Enterprise.
RAB-Microfluidics is a mobile oil sample analysis start-up for the oil and gas, aerospace and maritime industries. Its device monitors engine health by testing lubricating oil obtained from machinery to test for contamination and wear, giving lab-standard results remotely.
University of Bristol spin-out digests £300,000
Ferryx, a Bristol-based spinout that develops a bacterial solution to gut inflammation, secured £300,000 from Deepbridge Capital.
Ferryx’s product is a probiotic with demonstrated anti-inflammatory properties that thrives during active inflammation. There is currently no other probiotic that can function during periods of active inflammation.
More Deals of the Week
Deals of the Week Sept 12 to Sept 16 – a Growth Business round-up
Deals of the Week Sept 5 to Sept 9 – a Growth Business round-up
