Home » UK tech funding roundup: This week’s deals from Wayve to FungALL

UK tech funding roundup: This week’s deals from Wayve to FungALL

This week’s UK tech funding deals include autonomous vehicle software developer Wayve, white-labelled insurance provider Eleos, personalised fitness and nutrition app Hexis and more.

UKTN tracked £1.9bn worth of UK tech investment this week (6 May to 10 May), a 32% week-on-week increase across 12 funding deals. This figure includes £1.07bn of debt financing for loan providers Abound and Iwoca.

Here’s your weekly roundup of UK tech startup funding deals.

Wayve – £840m

Sector: AI

HQ: London

Round: Series C

Funding type: Equity

Investors: SoftBank, NVIDIA, Microsoft

Founded in 2017, Wayve develops AI software for autonomous vehicles.

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Abound – £800m

Sector: Fintech

HQ: London

Round: Series B

Funding type: Debt/equity

Investors: Citi, GSR Ventures

Founded in 2020, Abound offers loans of up to £10,000. Abound claims its AI-powered affordability checks, which look at customer banking transaction data, significantly reduces the number of defaults on loans it provides.

Iwoca – £270m

Sector: Fintech

HQ: London

Round: Debt facility

Funding type: Debt

Investors: Citibank, Insight Investment, Barclays and Värde

Founded in 2011, Iwoca provides loans to small and medium-sized businesses

Dendra – £12m

Sector: Climate tech

HQ: Oxford

Round: Series B

Funding type: Equity

Investors: Zouk Capital, Aramco Ventures, Airbus Ventures, Understorey Capital and Helium-3 Ventures

Founded in 2014, Dendra restores large-scale ecosystems through a combination of field ecology and AI-analysed imagery.

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Definely – £5.6m

Sector: Legal tech

HQ: London

Round: Series A

Funding type: Equity

Investors: Octopus Ventures, Cornerstone VC, Zrosk Investment and angels

Founded in 2017, Definely is a tool for lawyers to create, draft and review legal documents.

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Nami Surgical – £3.2m

Sector: Health tech/robotics

HQ: Glasgow

Round: Seed

Funding type: Equity/grant

Investors: Eos Advisory, Investment Fund for Scotland (Maven, British Business Bank, Scottish Enterprise and SIS Ventures)

Founded in 2022, Nami Surgical is a University of Glasgow spinout that develops miniaturised ultrasonic medical devices for surgical applications.

Eleos – £3.2m

Sector: Insurtech

HQ: London

Round: Seed

Funding type: Equity

Investors: Fuel Ventures and Indico Capital

Founded in 2022, Eleos partners with brands to embed white-labelled income protection and life insurance.

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Hexis – £1.6m

Sector: Health tech

HQ: London

Round: Pre-seed

Funding type: Equity

Investors: Apex, Sport Republic, Dopamine Sport Ventures and angels

Founded in 2018, Hexis is an app that provides personalised nutrition plans for athletes based on analytics.

GigPig – £1.3m

Sector: Events

HQ: Manchester

Round: Seed

Funding type: Equity

Investors: Angels

Founded in 2022, GigPig is a platform for hospitality venues to book live entertainment and discover new artists.

You. Smart. Thing. – £1.2m

Sector: Climate tech/travel

HQ: Birmingham

Round: Seed

Funding type: Equity

Investors: West Midlands Co-Investment Fund (Midven)

Founded in 2014, You. Smart. Thing. generates personalised low-carbon travel plans to reduce the climate footprint of event attendees.

OSY Group – £750,000

Sector: Food tech

HQ: Manchester

Round: 

Funding type: Equity

Investors: Angels

Founded in 2018, OSY Group develops food packaging with an anti-microbial coating, extending the shelf life of the products within.

FungALL – £33,000

Sector: Agritech/climate tech

HQ: Manchester

Round: Grant

Funding type: Grant

Investors: Groundwork, Young Manchester, In Our Nature, Young Game, Changers and Step-Up Manchester

Founded in 2023, FungALL is a not-for-profit business developing urban circular farming technology for communities.