Funding

Cellugy, a Danish industrial biotechnology startup, has raised €4.9M in seed funding to scale up production of its EcoFLEXY dry cellulose product to industrial volumes. The round was led by Germany’s ICIG Ventures and Denmark’s Unconventional Ventures, with new US-based investor Joyance Partners joining, along with existing investors PSV DeepTech, The Footprint Firm, and EIFO.

Zen Educate, an online marketplace connecting schools with top substitute teachers and teaching assistants, has closed a $37 million Series B funding round.

Life science startup Limula has announced it has raised £5.4 million to advance its solution for automating cell therapy manufacturing.

Artisan AI, a startup developing AI employees and software for enterprise companies, raised $7.3 million in a round led by Oliver Jung, an early investor in Airbnb, Rippling, and Revolut.

New data from the Venture Capital Trust Association (VCTA) showed that its members invested £505 million in early-stage companies across the UK during 2023.

Qomodo, the Internet of Things (IoT) cybersecurity company, announced it had raised a £1.3 million pre-seed funding round led by Expeditions Fund, with participation from Amadeus Capital Partners, Auriga Cyber Ventures, Nio Advisors, McNally Capital, Ventures Together, and previous investor Techstars.

ABB announced a minority investment in Ndustrial, a US-based clean technology startup that developed an AI-powered energy management platform.

Phlux Technology, a manufacturer of avalanche photodiode (APD) infrared sensors, Airbus Defence and Space, and The University of Sheffield have embarked on a €500,000 project to build more efficient free-space optical communications (FSOC) satellite terminals.

Incredible, the London-headquartered fintech, secured $1 million in pre-seed funding to fully launch its platform and app, which aims to provide consumers with an automated, all-in-one credit management solution.

ULEMCo, a UK supplier of hydrogen-based low carbon transport technologies, has completed a funding round worth over £5 million and expanded its investor base.

Accel, the Silicon Valley investor known for backing Monzo, GoCardless, and Synthesia, has raised a $650 million European startup fund.

the Ocean 14 Capital Fund I, focusing exclusively on the multi-trillion-dollar ‘blue economy,’ has announced it has closed on €201 million to support its mission of funding sustainable solutions to improve ocean health.

Currently, oncology staff must manually search thousands of patient health records to find the right trials or care pathways for their patients. Triomics is announcing it has raised $15M to help cancer centres streamline these workflows and process oncology data at scale by applying their framework to build, institution-tuned large language models (OncoLLM) and use case-specific software.

Superfy, the AI-powered social networking platform catering to Gen Z, has successfully raised a further $2.2m in its latest funding round, bringing its total funding to $6.7m.

Mindstone, the upskilling platform bridging the gap between the potential and practical use of AI to boost productivity, announces the launch of its crowdfunding campaign to extend the AI opportunity to its community.

XTEND, the developer of XOS, an AI-driven operating system that is transforming the interaction between humans and drones and robots, announced its £40 million Series B funding.

3t, a player in the provision of training, learning technologies and simulation solutions for safety-critical industries, has achieved a significant milestone in its growth trajectory by successfully issuing bonds on the Norwegian Stock Market, raising $100 million in financing to aid planned strategic acquisitions.

Australia-based Hysata is developing new high-efficiency electrolysers that aim to produce green hydrogen at scale with higher energy efficiency and lower costs than alternative technologies. The company’s technology combines engineering and science in a unique capillary-fed alkaline electrolyser that uses less energy to convert water to hydrogen.

NEC X, the innovation accelerator and venture studio based in Silicon Valley and supported by the global IT giant NEC, has revealed its latest investment in Multitude Insights. This company offers an AI-powered solution that enhances collaboration and accelerates case resolution for law enforcement agencies and first responders.

Definely, a UK LegalTech company designed to simplify the reading, editing, and understanding of legal documents, has successfully secured Series A funding. The $7 million Series A investment round was spearheaded by Octopus Ventures, with contributions from Cornerstone VC and Zrosk Investment.