Welcome back to United Kingdom Tech Weekly Deals Roundup, a weekly podcast by Tracxn for key startup deals in United Kingdom from last week.
In this edition, we will cover funding rounds of Gousto, iProov, and more. In exits, we will cover the acquisition of BFC Bank by iFAST Corporation among others.
Starting with our deep dive into funding rounds, tech companies in United Kingdom raised around $201 million funding across 8 funding rounds during this week.
London-based Online Grocery startup, Gousto, raised $100 million in a Series E funding round from SoftBank Vision Fund. Gousto is an online subscription platform offering recipe boxes. Gousto operates a recipe kit subscription service where users are sent three recipes per week. Gousto's users can choose the recipe from the offerings like beef wraps, chicken noodles, biriyani, and more. Founded in 2012, Gousto has raised $311 million till date.
London-based Enterprise Infrastructure startup, iProov, raised $70 million in a Series B funding round from Sumeru Equity Partners. iProov is a face recognition-based authentication solution provider. iProov uses machine learning technology and deep learning technology to check that the user's face corresponds to the face they originally enrolled. iProov offers solutions to organizations across financial services, healthcare, and e-commerce. Founded in 2011 by University of Cambridge alumni, iProov has raised $78 million till date.
FinTech startup, Starling Bank, raised $40 million in a Series D funding round led by Chrysalis. Starling Bank is a digital bank for consumers and businesses. Starling Bank offers services of deposit accounts, money transfers, consumer and business loans, prepaid and corporate cards for online or offline purchases, bill payments, and more. Founded in 2014 by University of Cambridge alumni, London-based Starling Bank has raised $892 million till date.
London-based FinTech startup, CellPoint Digital, raised $25 million in a Series C funding round led by Penta Capital with participation from Toscafund Asset Management. CellPoint Digital is an e-commerce & payment solution for the travel industry. CellPoint Digital provides promotion, commerce, payment & self-service using data-driven optimization to boost conversion rates. CellPoint Digital provides solutions for processing & monitoring of multiple transactions and optimizing transactions with routing. Founded in 2007, CellPoint Digital has raised $56 million till date.
London-based Energy Tech startup, TheUp, raised $9 million in a Series A funding round from JamJar Investments, Jagermeister, and others. TheUp is an Online platform for renting power banks. TheUp's users can rent the power banks from the nearest charging points via an application. TheUp's users need to scan the QR code on the ChargedUp station to release a power bank and portable power banks include cables for all types of phones. TheUp's users can then return the power bank to any ChargedUp station nearby or in a local cafe. Founded in 2017 by ex-Apple employee, TheUp has raised $12 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 08 Jan 2022.
London-based fintech startup, BFC Bank, was acquired by iFAST Corporation for $74 million. BFC Bank is a specialized bank focused on International Payments and cash management services to complement existing banking arrangements of Small Medium Enterprises (SMEs). BFC Bank's accounts will be available in up to 40 currencies, with online access in a fully secure environment to make all domestic and international payments. BFC Bank was founded in 2016.
Cambridge-based enterprise application startup, Global Inkjet Systems, was acquired by Nano Dimension for $18 million. Global Inkjet Systems provide software, print controllers, and inkjet delivery systems for 3D printing. Global Inkjet Systems claims to provide software called Atlas, which supports a wide range of printheads including Fujifilm Dimatix, Konica Minolta, and more. Global Inkjet Systems has designed electronics and software for ink supply systems and also offers additional support including a range of header tanks, system controls for pressure, filtration, heating & degassing, and system design. Global Inkjet Systems was Founded in 2006.
London-based adtech startup, Ad-Lib, was acquired by Smartly. Ad-Lib provides a creative management platform. Ad-Lib is used by content studios, media agencies, and creative agencies. Ad-Lib Production uses AI and collaboration tools to improve creative production efficiency by turning creative concepts into dynamic, reusable templates across display, video, and social formats. Ad-Lib Relevance enables brands to personalize their creatives at scale. Ad-Lib Optimize helps advertisers improve the quality of their creativity. Founded in 2017, Ad-Lib has raised $12 million till date from Fog City Capital.
Consett-based energy tech startup, Elmtronics, was acquired by Mer for $74 million. Elmtronics provides solutions for electric vehicle charging by supplying and installing electric vehicle charging stations and equipment. Elmtronics specializes in providing its services to businesses and the public sector. Elmtronics also offers full turn-key installation and commissioning services. Founded in 2013, Elmtronics has raised $2 million till date from Mercia, Northern Powerhouse Investment Fund, and others.
Newton-le-willows-based enterprise application startup, Jade Solutions, was acquired by Renovotec for $74 million. Jade solutions provide enterprise mobility solutions for enterprises to streamline their business processes, improve field force productivity and reduce costs. Jade Solutions offers field mobility, warehousing and distribution, electronic proof of delivery, asset management, supply chain and inventory management using various products like RFID, wireless network, security, barcode scanners, mobile devices, lantronix, and more. Jade Solutions serves retail, field services, transport, logistics, postal & courier, manufacturing, utilities, and education sectors. Founded in 1988, Jade Solutions has raised $7 million till date from RBS Group and Merseyside Special Investment Fund.
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.
