Welcome 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 Ultraleap, OTA Insight, Tevva, and more. In exits, we will cover the acquisition of EVRYTHNG by Digimarc among others.
Starting with our deep dive into funding rounds, tech companies in the United Kingdom raised around $380 million of funding across 33 funding rounds during this week.
Haptic technology startup, Ultraleap, raised $82 million in a Series D funding round led by Tencent with participation from IP Group, Mayfair Equity, CMB International, and others. Ultraleap is a provider of spatial interaction technology solutions. Ultraleap offers a haptic module that enables users to integrate virtual touch, and an optical hand tracking module that can capture the user's hand movements with unparalleled accuracy & near-zero latency. UltraLeap also offers an application called TouchFree, which enables the addition of touchless gesture control to interactive screens. Ultraleap's software application runs on an interactive kiosk or advertising totem, and has the capability to detect mid-air hand gestures, and convert them to an on-screen cursor. Founded in 2019, Bristol-based startup Ultraleap has raised $190 million till date.
Travel and Hospitality Tech startup, OTA Insight, raised $80 million in a Series B funding round led by Spectrum Equity with participation from F-Prime Capital and Eight Roads Ventures. OTA Insight offers cloud-based revenue management solutions for accommodation providers. OTA Insight offers software with features like rate intelligence, pricing summary reports across online portals, demand forecasting, events tracking, ranking, and review analytics to hotels, apartments, resorts, and hostels. Founded in 2012, London-based OTA Insight has raised $102.9 million till date.
Chelmsford-based electric vehicles startup, Tevva, raised $57 million in a Series B funding round. Tevva is a developer of cloud-enabled conversion kits for commercial vehicles. Tevva provides modular systems for the electrification of ICE-based medium-duty commercial vehicles like trucks. Tevva's electrification kits include features like an integrated platform, battery and high voltage distribution systems, vehicle control and diagnostics, as well as a range extender. Founded in 2013, Tevva has raised $90 million till date.
HealthTech startup, Synthace, raised $35 million in a Series C funding round led by Horizons Ventures and Sofinnova Partners. Synthace is the provider of a SaaS-based laboratory automation software for researchers. Synthace has developed automation products such as Antha which has the ability to automate experiments in a laboratory. Synthace's system is an interoperable software that checks for errors, and can be reprogrammed for the handling of liquid matters in biological experiments. Founded in 2011, London-based Synthace has raised $80.3 million till date.
Gambling tech startup, BetDEX, raised $21 million in a Seed funding round led by Paradigm and FTX with participation from Sino Global Capital, Lightspeed Venture Partners, Multicoin Capital, and others. BetDEX is the provider of a blockchain-based sports betting platform. BetDEX allows users to place bets on multiple sports using cryptocurrency. Founded in 2005, Glasgow-based BetDEX has raised $21 million till date.
This was all from the funding updates, moving on to the exits. United Kingdom Tech observed 10 exits during the week of 21 Nov 2021.
London-based Internet of Things startup, EVRYTHNG, was acquired by Digimarc. EVRYTHNG is a provider of an IoT platform for industrial applications. EVRYTHNG offers Product Cloud, a platform that enables users to access real-time and actionable information on various connected products. EVRYTHNG provides real-time tracking and analytics solutions, and enables customers to connect to their products and follow individual items through the value chain. EVRYTHNG uses technologies like the Internet of Things, blockchain, machine learning and big data analytics, with applications in the apparel, CGP and beauty sectors, among others. Founded in 2011, EVRYTHNG has raised $108.8 million till date from Read Capital, Vayner/RSE, Advance, and others.
Video creation tools startup, Kamua, was acquired by Jellysmack. Kamua offers a SaaS-based video editing platform. Kamua allows users to edit, resize, and caption videos using its software. Kamua's product AutoCut allows users to create videos automatically, and enables them to share these videos on various platforms like Instagram, Snapchat, and more. Founded in 2019, London-based Kamua has raised $1.7 million till date from HT Ventures, Dennis Gillespie, Jean Marie Ruffieux, and others.
London-based cybersecurity startup, Keyless, was acquired by Sift. Keyless is a provider of cloud-based biometric authentication and identity management solutions. Keyless provides a facility to authenticate users without revealing their biometrics or their cryptographic keys. Keyless supports several biometric modalities such as face recognition, fingerprints, and iris recognition. Keyless can be used to provide multi-factor authentication solutions in sectors such as finance & banking, real estate & automotive, and governance. Founded in 2019, Keyless has raised $12.6 million till date from Robot Ventures, Shin Global, Maire Investments, and others.
Online gifting startup, Paladone, was acquired by IVEST Consumer Partners. Paladone designs and retails giftware online. Paladone is a platform that enables users to purchase gift items online, such as art and craft, homeware, puzzles, gaming consoles, drinkware, accessories and beauty products from various brands such as Nintendo, FRIENDS, Hasbro, and more. Founded in 1994, Paladone has raised $18.1 million till date from LDC and IVEST Consumer Partners.
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.