UK Tech Funding Roundup: A Week of Deals and Investments

The UK tech scene has witnessed a significant surge in funding deals this week, with a total of £374.5 million invested across 14 funding rounds. This marks a 275% increase from the previous week, demonstrating the sector’s resilience and growth potential.

Climate Tech Takes Centre Stage

One of the most notable deals of the week was secured by CIRCTEC, a London-based climate tech firm that has developed a revolutionary process for decomposing waste tyres and converting them into usable materials through pyrolysis. The company raised £127.8 million in funding from Novo Holdings, AP Moller Holding, and the Dutch government.

Climate tech is gaining traction in the UK

Insurtech Firm Vitesse Secures £73m

Vitesse, an integrated treasury and payment service provider for the insurance industry, has raised £73 million in Series C funding from KKR and Hannover Digital Investments. Founded in 2014, Vitesse’s platform is used to manage payouts to insurance claimants.

Vitesse is revolutionizing insurance payouts

Other Notable Deals

Other notable deals of the week include funding rounds for LabGenius, a machine learning-powered drug discovery platform, and Orca AI, a maritime navigation software firm.

LabGenius is pushing the boundaries of drug discovery

Orca AI is navigating the future of maritime tech

The UK tech sector is thriving, and this week’s funding deals are a testament to the innovative spirit and entrepreneurial drive of British startups. As the sector continues to grow, we can expect to see even more exciting developments in the coming weeks and months.

“The UK tech sector is on fire, and we’re just getting started.” - [Anonymous]

The UK tech sector is on the rise