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 Gousto, EyeBio, Redsift, and more. In exits, we will cover the acquisition of The GP Service by Kanabo among others.
Starting with our deep dive into funding rounds, tech companies in the United Kingdom raised around $534 million of funding across 26 funding rounds during this week.
In a major funding round event, London-based Online Grocery startup Gousto, raised $230 million in a Series F funding round led by SoftBank Vision Fund with participation from Railpen, Fidelity International, Grosvenor Group, and others. Gousto achieved unicorn status on 2nd November 2020 when it raised $32 million from Perwyn and others. 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 offers recipes such as beef wraps, chicken noodles, biriyani, and more. Founded in 2012, Gousto has raised $592 million till date.
Life Sciences startup, EyeBio, has raised its first Series A funding of $65 million from Jeito, SV Health Investors and Samsara with participation from MRLV. EyeBio is a developer of therapies to treat ophthalmological diseases. EyeBio focuses on the generation of therapies that restore and improve vision in patients with sight-threatening eye diseases. EyeBio's lead product is an anti-vascular endothelial growth factor drug for the treatment of age-related macular degeneration. London-based EyeBio was founded in 2021.
Enterprise Infrastructure startup, Redsift, raised $54 million in a Series B funding round led by Highland Europe with participation from MMC Ventures, Sands Capital and Oxford Capital. Redsift offers an anti-phishing solution. Redsift offers a visualisation platform for business data related to CRM, email, websites, and customer data in real-time. Redsift provides an SDK to connect to major services such as Gmail, Home Buyer, Slack, and Facebook. Redsift offers email security services against phishing attacks. Founded in 2015, London-based Redsift has raised $69 million till date.
In another funding round event, HealthTech startup, Automata, raised $50 million in a Series B funding round led by Octopus Ventures with participation from ABB, In-Q-Tel and Latitude, and others. Automata is a provider of lab automation robots. Automata offers human collaborative and arm-based lab automation robots. Automata offers robots for processing samples, drug screening, colony counting, and acid testing. Automata also provides cloud-enabled robot management software to schedule and orchestrate the protocols from a single platform. Founded in 2015, London-based Automata has raised $66 million till date.
London-based FinTech startup, Weavr, raised $40 million in a Series A funding round led by Tiger Global Management with participation from LocalGlobe, QED Investors, United First Partners, and others. Weavr is a cloud-based virtual card payment solution for innovators and payment providers. Weavr offers virtual cards for business payouts, consumer payments, and business purchasing. Weavr also provides API keys to configure and develop the pre-built payment templates, which can be embedded in consumer applications and can be used to drive business processes. Founded in 2018, Weavr has raised $55 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 27 Feb 2022.
Leicester-based HealthTech startup, The GP Service, was acquired by Kanabo for $18 million. The GP Service is an online doctor consultation platform and pharmacy store. The GP Service enables users to seek online doctor consultations, and request prescriptions and refills. The GP Service also enables users to opt for home delivery of medication from a pharmacy of their choice. Founded in 2014, The GP Service has raised $4 million till date from Maven Capital Partners, Midlands Engine Investment Fund, and others.
Energy Storage Tech startup, InstaVolt, was acquired by EQT. InstaVolt is a provider of electric vehicle charging solutions. InstaVolt operates DC charging stations and offers solutions for consumers and fleet operators to manage their charging operations. InstaVolt provides a mobile application for users to find charging points in their vicinity. Founded in 2016, InstaVolt has raised $62 million till date from Zouk Capital.
London-based Fintech startup, Purely Capital, was acquired by Pipe. Purely Capital offers a platform to accept payments from account receivables. Purely Capital enables users to accelerate long-dated contracts from a range of global streaming and broadcast platforms. Purely Capital ensures data privacy and also has a Purely Collection platform that manages the entire collection by digitising all agreements as smart contracts built on a decentralised blockchain platform. Founded in 2018, Purely Capital has raised $2 million till date from Finch Capital.
In another acquisition event, Blockchain Technology startup, Trustology, was acquired by Bitpanda. Trustology is a provider of digital-key safeguarding and custodial solutions for cryptocurrencies. Trustology offers customisable accounts which safeguard the digital assets of an individual, business, exchange, and institutional client. Trustology also provides a platform to safeguard crypto assets. Founded in 2017, London-based Trustology has raised $8 million till date from Two Sigma Ventures and Consensys Labs.
Overwatch Research, a Belfast-based Life Science Tech startup, was acquired by Benchling. Overwatch Research is an online platform for tracking and managing clinical data. Overwatch Research's platform is used to manage in vivo experiments, create workflows, manage multiple studies, study randomisation, assign and manage tasks in CROs, preclinical labs, and academic institutions. Founded in 2017, Overwatch Research has raised $4 million till date from Operator Partners, Frontline, Techstart Ventures, 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.