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 Genesis, Tripledot, 5ire, and more. In exits, we will cover the acquisition of Faculty Opinions by H1 and the IPO by Clean Power Hydrogen, among others.
Starting with our deep dive into funding rounds, tech companies in United Kingdom raised around $929 million funding across 29 funding rounds during this week.
In a major funding round event, FinTech startup, Genesis, raised $200 million in a Series C funding round led by Tiger Global Management with participation from Accel, Salesforce, GV, and others. Genesis provides a trade management software suite for financial institutions. Genesis offers digital workflow management solutions, a real-time quoting system for the trading process, a portfolio management system, and more. Genesis also offers cloud-based front-to-back office solutions to assist users. Founded in 2012, London-based Genesis has raised $250 million till date.
London-based Gaming tech startup, Tripledot, raised $116 million in a Series B funding round led by The Twenty Minute with participation from Access Industries, Eldridge, and Lightspeed Venture Partners. With this funding round, Tripledot achieved unicorn status. Tripledot is an independent mobile game development company. Tripledot specializes in developing card games and puzzle games such as Solitaire and Woodoku. Tripledot develops games for Android and iOS devices. Founded in 2017, Tripledot has raised $205 million till date.
FinTech startup, Atom Bank, raised $101 million in a Series E funding round led by Toscafund Asset Management, and BBVA with participation from Infinity Investment Partners. Atom Bank achieved unicorn status on 7th March 2018 when it raised $207 million of funding from BBVA and others. Atom Bank is a digital bank for individuals and businesses. Atom Bank provides banking services for consumers and businesses including loans, current accounts, credit cards, residential mortgage loans, money transfers, and more. Founded in 2014, Durham-based Atom Bank has raised $695 million till date.
London-based enterprise applications startup, 5ire, raised $100 million in a Series A funding round led by Global Emerging Markets. 5ire is a provider of blockchain-based networks for interoperability & cross-chain transfers. 5ire features solutions for transactional scalability, on-chain governance & democracy, future-proof upgradeability, and more. Founded in 2021, 5ire has raised $121 million till date.
FinTech startup, Sharegain, raised $64 million in a Series B funding round led by WestCap with participation from Citi, EJF Capital, SixThirty, and others. Sharegain is a provider of cloud-based securities lending solutions for fund managers and custodians. Sharegain covers stocks, bonds, and ETFs. Sharegain manages and monitors the life-cycle of loans and the supporting collateral obligations. Sharegain also offers an automated solution for internal or regulatory reporting needs. Founded in 2015 by Tel Aviv University alumni, London-based Sharegain has raised $76 million till date.
Blyth-based Auto Tech startup, Britishvolt, raised $54 million in a Series C funding round led by Bank of America, Citi, and Peel Hunt with participation from Glencore. Britishvolt achieved unicorn status on 17th August 2021. Britishvolt is a manufacturer of lithium-ion batteries for electric vehicles. Britishvolt also manufactures energy storage batteries for offices, homes, and industrial spaces. Founded in 2019, Britishvolt has raised $143 million till date.
FinTech startup, Thought Machine, raised $54 million in a Series C funding round from ING, Lloyds Bank, JP Morgan Chase, and others. Thought Machine achieved unicorn status on 2nd September 2021 when it raised $200 million of funding from Nyca Partners and others. Thought Machine is an open banking software. Thought Machine provides an API-based core solution for bank's operations including the design and implementation of digital banking products such as loans, credit cards and mortgages, vaults, and more. Founded in 2014 by an ex-Google employee, London-based Thought Machine has raised $403 million till date.
London-based E-commerce startup, Papier, raised $50 million in a Series C funding round led by Singular with participation from Lansdowne Partners, Felixcap, dmg ventures, and others. Papier is an online marketplace for buying and selling physical greeting cards. Papier enables users to choose from the available templates and personalize the card by adding messages and images. Papier also offers online payment solutions for users to have their personalized cards printed and shipped. Papier also offers products such as personalized invitations and stationery. Founded in 2015 by an ex-Bain employee, Papier has raised $65 million till date.
Energy Tech startup, Bramble Energy, raised $47 million in a Series B funding round led by HydrogenOne Capital Growth plc with participation from IP Group, Business Growth Fund, UCL Technology Fund, and others. Bramble Energy is a developer of proton exchange membrane-based fuel cells. Bramble Energy developed fuel cell stack architecture using printed circuit boards for hydrogen-based fuel cells. Bramble Energy also has patented anti-corrosion features of their product. Bramble Energy also claims that the product can be used for power generation applications ranging from consumer electronics to electric vehicles. Founded in 2015, London-based Bramble Energy has raised $54 million till date.
Oxford-based Energy Tech startup, First Light Fusion, raised $45 million in a Series C funding round led by IP Group, Oxford Science Enterprises, Hostplus, Bravos Capital, and Tencent. First Light Fusion is a pulse-powered nuclear fusion process developer. First Light Fusion is developing a nuclear fusion process based on inertial confinement fusion which involves symmetrical implosion reaction of the helium produced from water which claims to produce a temperature similar to that of the sun core. First Light Fusion's heat energy is then utilized for power production. Founded in 2011, First Light Fusion has raised $105 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 20 Feb 2022.
London-based Life Science Tech startup, Faculty Opinions, was acquired by H1. Faculty Opinions is an online search portal for discovering life sciences scientific literature. Faculty Opinions help users to find rich articles in biology and medicines. Faculty Opinions also enable users to receive an expert opinion on emerging technologies and breakthroughs using the platform. Faculty Opinions was founded in 2019.
In another major development this week, Clean Power Hydrogen, a Doncaster-based Energy Tech startup, went public. The IPO pegs the valuation of the company at nearly $66 million. Clean Power Hydrogen is a developer of hydrogen-based energy storage systems for electric vehicles, off-grid, and on-grid applications. Clean Power Hydrogen's solutions produce hydrogen by electrolysis, dehydrates, purifies, and stores the hydrogen gas. Clean Power Hydrogen can be scaled for large-scale applications and claims to have 30 years of operational life. Clean Power Hydrogen was founded in 2016 and has raised over $3.6 million across several funding rounds. Major investors who backed the company in its early stages include enterprises like ICP Group, OP6 Innovation, West Hill Capital, and others.
This was all for today, we will be back next Monday with more updates. You can subscribe to our podcast on Google Podcasts 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.
