This week’s UK tech funding deals include insurance payments provider Vitesse, machine learning-powered drug discovery platform LabGenius, Maritime navigation software firm Orca AI and more.
UKTN tracked £374.5m worth of UK tech investment this week (20 May to 24 May), a 275% week-on-week increase across 14 funding rounds.
Here’s your weekly roundup of UK tech startup funding deals.
CIRCTEC – £127.8m
Sector: Climate tech
HQ: London
Round: N/A
Funding type: Equity/grant/debt
Investors: Novo Holdings, AP Moller Holding and the Dutch government
Founded in 2009, CIRCTEC has developed a process of decomposing waste tyres and converting them into usable materials through pyrolysis.
Vitesse – £73m
Sector: Insurtech
HQ: London
Round: Series C
Funding type: Equity
Investors: KKR, Hannover Digital Investments
Founded in 2014, Vitesse is an integrated treasury and payment service provider for the insurance industry that is used to manage payouts to insurance claimants….
