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 Multiverse, Codat, Bud, and more. In exits, we will cover the acquisition of Fixter by Renault Group, among others.
Starting with our deep dive into funding rounds, tech companies in the United Kingdom raised around $709 million of funding across 27 funding rounds during this week.
In a major funding round event, London-based Enterprise Applications startup, Multiverse, raised $220 million in a Series D funding round led by StepStone Group, Lightspeed Venture Partners, and General Catalyst Partners with participation from GV, Bond Vet, Audacious Euan Blair, and others. Multiverse is an online apprenticeship discovery platform. It enables non-graduates to find apprenticeship opportunities in companies. Its offerings include online training modules for subjects such as IT support, digital marketing, social media, business administration, customer service, career advice, and others. Founded in 2015 by University of Oxford alumni and University of Cambridge alumni, Multiverse has raised $414 million till date.
FinTech startup, Codat, raised $100 million in a Series C funding round led by JPMorgan with participation from Canapi Ventures, Index Ventures, PayPal, and others. Codat is a cloud-based financial analysis and forecasting solution provider for small & medium businesses. It offers a single API platform providing seamless integrations with multiple data source software including accounting, banking, and more. Codat provides services to a wide variety of clients, including banks, insurers, business leaders, and software providers. Founded in 2017 by University of Oxford alumni and University of Cambridge alumni, London-based Codat has raised $172 million till date.
London-based FinTech startup, Bud, raised $80 million in a Series B funding round from Goldman Sachs, TDR Capital, and HSBC. Bud provides an open banking API and financial data analysis solution for businesses. Bud is an account-linked expense management platform that allows users to manage finances, connect bank accounts, credit cards, and customize budgets by automatically categorizing expenses. It also provides access to various financial products such as pensions, insurance, currency exchange, investments, and more. Founded in 2015, Bud has raised $103 million till date.
Consumer startup, Let’s Do This, raised $60 million in a Series B funding round led by Craft Ventures with participation from NFX, Headline, EQT Serena, and others. It is a provider of a booking platform for multiple sports activities. It enables users to book sports events across various categories such as cycling, swimming, and running. Users can find events for their preferred sport, at the desired time and place and book a ticket or passes for the same. Founded in 2016 by University of Cambridge alumni, London-based Let’s Do This has raised around $80 million till date.
London-based Energy Tech startup, Protium, raised close to $51 million funding round from SWEN Capital Partners. Protium is a provider of green hydrogen refueling solutions. It offers Hesco - an end-to-end, sustainable hydrogen energy solution using renewable energy. Additionally, it also offers heat, transport, and development services for hydrogen generation companies. Founded in 2019, Protium has raised close to $51 million till date.
Charm Therapeutics, a Life Sciences startup, raised $50 million in a Series A funding round led by F-Prime Capital, and Orbimed with participation from Khosla Ventures, Axial Racing, General Catalyst Partners, and others. Charm Therapeutics is a developer of drug discovery technology for cancer treatment. It offers a protein-ligand co-folding technology called DragonFold AI, which is used for developing transformational drugs for the treatment of cancer and other serious diseases. Founded in 2021, London-based Charm Therapeutics has raised $50 million till date.
London-based FinTech startup, Euler, raised $32 million in a funding round led by Haun Ventures with participation from Uniswap, Jump Crypto, and Variant. Euler is a provider of non-custodial protocols for lending and borrowing crypto assets. Its features are permissionless listing, asset tiers, multi-collateral stability pools, and more. Euler also provides governance and treasury tools. Founded in 2020, Euler has raised $40 million till date.
Enterprise Infrastructure startup, CybSafe, raised $28 million in a Series B funding round led by Evolution Equity Partners with participation from Emerald Development Managers, IQ Capital, and HDI Global. Cybsafe is a provider of a cloud-based threat intelligence platform. Its platform provides regular updates based on the latest threat intelligence and alerts users. CybSafe contains interactive training modules covering topics such as phishing, social media, public WiFi, malware, data legislation, breach recovery, and more. Founded in 2015, London-based CybSafe has raised over $40 million till date.
Papercup, an Enterprise Applications startup, raised $20 million in a Series A funding round led by Octopus Ventures with participation from Sky, LocalGlobe, Sands Capital, and others. Papercup is an AI-enabled online video translation platform. Papercup translates the voice track of videos into other languages and allows users to upload videos, translate, and save them. Founded in 2015, London-based Papercup has raised close to $31 million till date.
This was all from the funding updates, moving on to the exits. United Kingdom Tech observed 16 exits during the week of 12 Jun 2022.
London-based Auto Tech startup, Fixter, was acquired by Renault Group. Fixter is an online marketplace offering car maintenance services. Its platform provides users with instant quotes from its list of certified local garages. Its users can book the services online & a trained driver collects the car from home or work at the user's convenience. Founded in 2016, Fixter has raised over $17 million till date from Kamet, Stephane Guinet, Michael Niddam, 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, Spotify, and Apple Podcast 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.
