This week’s UK tech funding deals include AI customer support company PolyAI, remote and freelance worker management platform Native Teams, sustainable fintech Ekko and more.
UKTN tracked £99.8m worth of UK tech investment this week (13 May to 17 May), a 95% week-on-week decrease across 12 funding rounds.
Here’s your weekly roundup of UK tech startup funding deals.
PolyAI – £39.4m
Sector: AI
HQ: London
Round: Series C
Funding type: Equity
Investors: Hedosophia, NVentures, Khosla Ventures and Point72 Ventures
Founded in 2017, PolyAI develops AI voice generation technology for use in customer support centres.
Steel City Interactive – £15m
Sector: Gaming
HQ: Sheffield
Round: Early VC
Funding type: Not disclosed
Investors: Novator Ventures, London Venture Partners and angels
Founded in 2020, Steel City Interactive is a game development studio working on a new title, a boxing game called Undisputed.
Purple Dot – £7.9m
Sector: Ecommerce/climate tech
HQ: London
Round: Series A
Funding type: Equity
Investors: OpenOcean, Commerce Ventures, Unusual Ventures, Connect Ventures, Moxxie Ventures and angels
Founded in 2020, Purple Dot is a platform for ecommerce brands to facilitate pre-orders to reduce the amount of unsold stock that becomes waste.
Tiney – £7.2m
Sector: Childcare
HQ: London
Round: Series A
Funding type: Equity
Investors: Mustard Seed partners, PortfoLion, Sparkmind and Rubio
Founded in 2019, Tiney recruits, trains and supports the establishment of ‘micro-entrepreneur’ childminding businesses that can be managed through its app.
Malted AI – £6m
Sector: AI
HQ: Edinburgh
Round: Seed
Funding type: Equity
Investors: Hoxton Ventures, Creator Fund and angels
Founded in 2023, Malted AI distils large language models to create bespoke generative AI tools focussed on specific client needs.
Native Teams – £5.4m
Sector: HR tech
HQ: London
Round: Pre-Series A
Funding type: Equity
Investors: Eleven Ventures, Fil Rouge Capital, MFG Invest and Begin Capital
Founded in 2020, Native Teams is a platform for freelancers and remote workers to manage payments, legal admin and taxes.
ULEMCo – £5m
Sector: Automotive/energy
HQ: Liverpool
Round: Series A
Funding type: Equity
Investors: Mercia Ventures, Equity Gap, Scottish Enterprise and the North West Fund
Founded in 2014, ULEMCo converts commercial vehicles such as LGVs and specialist utility trucks to run on hydrogen energy.
Ember – £5m
Sector: Fintech
HQ: London
Round: Seed
Funding type: Equity
Investors: Valar Ventures, Viola Fintech and Shapers
Founded in 2018, Ember is an embedded accounting startup providing digital accounting services to SMEs.
Provenance – £3.95m
Sector: Climate/Marketing tech
HQ: London
Round: Pre-Series A
Funding type: Equity
Investors: S4S Ventures, Nordic Eye, Alumni Ventures, Angel Academe and Innovate UK
Founded in 2014, Provenance is a sustainability communications platform that validates climate claims from clients.
Ekko – £2m
Sector: Fintech
HQ: London
Round: Seed
Funding type: Not disclosed
Investors: Fuel Ventures, Sorven Partners, Mishcon de Reya and existing investors
Founded in 2019, Ekko is a climate-focused fintech startup that plants trees and supports conservation projects when customers use its debit card.
Radiant Matter – £1.2m
Sector: Climate tech/bioscience
HQ: London
Round: Seed
Funding type: Not disclosed
Investors: Sustainable Ventures, Ada Ventures, Evenlode Impact, Martlet Capital and Cambridge Angels Group
Founded in 2020, Radiant Matter is developing sustainable materials out of plant-based cellulose for use in cosmetics, coating, packaging and more.
AimHi Earth – £1m
Sector: Climate tech
HQ: London
Round: Seed
Funding type: Equity/convertible notes
Investors: Climate Planet Foundation, Nicco Perra and Sam Wisnia
Founded in 2021, AimHi Earth is an upskilling platform that provides training sessions focused on climate and sustainability.
Alchemie Technology – £750,000
Sector: Climate tech
HQ: Cambridge
Round: Grant
Funding type: Grant
Investors: Innovate UK
Founded in 2013, Alchemie Technology has developed a process of dyeing and finishing textiles that reduces energy consumption and water waste.
