Funding

DeSci Labs has secured $6.5 million in seed funding to develop the infrastructure for a traceable digital version of the scientific record. Supported by prominent investors, this software engineering startup has reached key R&D milestones to launch DeSci Publish, the first open-source, peer-to-peer platform for scientific publishing.

Sunswap, a UK-based clean-tech startup focused on decarbonising cold chain logistics, has secured £17.3 million in a funding round led by investment company BGF.

Harmonyze, formerly known as Legal Hat, an AI-driven platform aimed at enhancing franchisors’ profit margins, has successfully closed over $2 million in pre-seed funding.

The Series A funding round, spearheaded by Balderton Capital and joined by existing investors TQ Ventures, Earlybird, and Seedcamp, marks a significant milestone for Tilt, a real-time shopping platform. Founded by former Revolut employees Neil Shah and Abhi Thanendran, Tilt is revolutionising the e-commerce landscape by positioning itself as the premier destination for fashion worldwide.

Workpay, a cloud-based platform designed to streamline HR, payroll, and employee benefits across Africa, has secured $5 million in Series A funding. The round was led by Norrsken22 and included investments from Visa, Y Combinator, Saviu Ventures, Axian, Plug n Play, Verod-Kepple Africa Ventures, and Acadian Ventures, a firm known for backing the next wave of work-related technologies. This new funding comes after Workpay’s successful pre-series A round, which raised $2.7 million earlier in 2023.

Finnish biotech company NADMED has secured €3.5 million in a Series A funding round to support its expansion into the US and other global markets with its innovative technology for measuring nicotinamide adenine dinucleotide (NAD). This technology has the potential to enhance the precision of personalised treatments for a range of diseases.

Edinburgh-based B2B SaaS provider Administrate, specialising in learning and training management software, has successfully raised £3.05 million in a new funding round. The Investment Fund for Scotland, Equity Finance, managed by Maven Capital Partners and delivered by the British Business Bank, contributed £1 million. The round also saw continued backing from existing investors Mercia and Archangels.

Optiml, a digital platform specialising in Net Zero real estate investment and renovation planning, has secured $4 million in Pre-Seed Extension funding. This funding round was spearheaded by BitStone Capital, an investor with a focus on real estate and construction technology, and received additional backing from KOMPAS VC, which is dedicated to early-stage ventures in the built environment.

Data centres, the cornerstone of our digital world, are experiencing a rapid rise in demand due to the increasing reliance on AI, machine learning, and supercomputing. However, this surge has led to a significant increase in energy consumption, particularly in cooling these facilities.

Finances are the bedrock of any business and entrepreneurs with long-term plans may opt to secure additional funding and investment to power that growth.

Small and medium-sized enterprises (SMEs) are often sadly overlooked when it comes to getting finance. According to government figures, UK SMEs account for nearly two-thirds of employment, and this pattern is similar in other markets around the world.

DRIFT Energy, a British startup set to make green energy at sea using hi-tech sailing vessels, has successfully completed its seed funding round. The round was spearheaded by Octopus Ventures, a prominent venture capital firm in the UK and Europe, with additional backing from Blue Action Accelerator. This round secured £4.65 million, a critical investment that will enable DRIFT Energy to scale its operations and initiate vessel production in the coming year.

While running any business comes with a fair share of financial risk, this must be within measure, and carefully controlled. If you find your business overwhelmed with debts, the turning point will be determined by the speed at which you attempt to save the business.

Sahara AI, a decentralised blockchain platform designed to ensure fairness and openness in AI, has announced it has secured $43 million in funding.

Vapaus, the Finnish employee bike benefit company, has secured €10 million in a Series A funding round. This equity investment will drive the company’s international expansion, enhance software development, automate its platform, and scale its innovative PreCycled concept for the second-hand bike market.

Trumpet, a platform designed to centre buyers in the sales process, has secured $6.35 million in a competitive seed funding round, led by AlbionVC. Returning investors Lightbird Ventures, Anamcara Capital, and Triple Point Ventures also participated.

Adamo Foods, a foodtech startup from the UK, has secured $2.5 million in seed funding, co-led by UK Innovation Science and Seed Fund (UKI2S), Future Planet Capital, and Joyful Ventures. This investment will accelerate Adamo’s efforts to launch the first ultra-realistic beef steak alternative made from fungi, catering to the rising demand for healthier, higher-quality meat substitutes.

CIBC Innovation Banking has extended a debt financing package to Wemolo, a German technology firm specialising in digital parking solutions driven by licence plate recognition. Operating across more than 2,500 properties throughout Europe, Wemolo plans to use the funding to broaden its product offerings and increase its presence across the continent.

Collo, a Finnish tech startup specialising in IoT analysers for industrial liquid processes, has secured €5 million in growth funding. This latest investment round was co-led by SEB Greentech Venture Capital from Sweden and the Dutch deep tech investor FORWARD.one, with additional backing from existing investor, Danish deep tech firm Scale Capital.

Gaussion, a spinoff from University College London (UCL), has introduced an approach that significantly improves battery performance. By applying an external magnetic field during charging and discharging, Gaussion’s technology guides ions more efficiently within existing battery cells. This not only enables faster charging but also reduces cell degradation, thereby extending battery lifespan.