This week’s UK tech funding deals include DeepMind spinout Isomorphic Labs, clean energy group H2CHP and more.
UKTN tracked £2.67bn worth of UK tech investment this week (11 May to 15 May), an enormous increase of more than 1,000% from last week across 13 funding rounds.
Here’s your weekly roundup of UK tech startup funding deals.
Isomorphic Labs – £1.6bn
Sector: Health tech/AI
HQ: London
Round: Series B
Investors: Thrive Capital, Alphabet, GV, MGX, Temasek, CapitalG and the UK Sovereign AI Fund
Founded in 2021, Isomorphic Labs uses AI to transform the drug discovery process.
Nscale – £580m
Sector: AI / Cloud
HQ: London
Round: Growth
Investors: Ardent, 8VC and various private equity backers
Founded in 2023, Nscale provides AI cloud infrastructure.
Fractile – £162.8m
Sector: AI / Semiconductors
HQ: London
Round: Series A
Investors: Kindred Capital, NATO Innovation Fund, Oxford Science Enterprises, In-Q-Tel and various angel investors
Founded in 2023, Fractile develops novel AI inference chips designed to run Large Language Models (LLMs) with higher speed than traditional hardware.
Paymentology – £129.4m
Sector: Fintech
HQ: London
Round: Growth
Investors: Viking Global Investors, General Atlantic and British Business Bank
Founded in 2015, Paymentology provides global cloud-native issuer processing.
Elliptic – £88.8m
Sector: Blockchain & Crypto
HQ: London
Round: Series D
Investors: One Peak, Nasdaq Ventures, Deutsche Bank and British Business Bank (via British Growth Partnership Fund I)
Founded in 2013, Elliptic is a blockchain analytics and compliance platform.
Multiverse – £50m
Sector: Edtech
HQ: London
Round: Series E
Investors: Schroders Capital
Founded in 2016, Multiverse provides digital and AI upskilling for the workforce.
Rowden – £25m
Sector: Defence Tech
HQ: Bristol
Round: Growth
Investors: National Wealth Fund
Founded in 2018, Rowden develops modular electronics and software systems to support the digitisation of armed forces.
Fifth Dimension – £19.2m
Sector: AI
HQ: London
Round: Series A
Investors: Anthemis Group, Bessemer Venture Partners and Mouro Capital
Founded in 2023, Fifth Dimension is building a decision intelligence platform to automate complex due diligence and risk assessment tasks.
Happl – £8m
Sector: HR Tech
HQ: London
Round: Series A
Investors: Portage Ventures, F Capital, Y Combinator, 6 Degrees Capital, Haatch and Ventures Together
Founded in 2022, Happl is a global employee benefits operating system.
Kohort – £5.1m
Sector: AI/Gaming
HQ: London
Round: Seed
Investors: Play Ventures, Moonfire Ventures and Sisu Game Ventures
Founded in 2024, Kohort develops AI agents for mobile gaming companies.
Esk – £2.6m
Sector: Entertainment Tech
HQ: Edinburgh
Round: Growth
Investors: Maven Capital Partners (Maven VCTs) and British Business Bank (Investment Fund for Scotland)
Founded in 2021, Esk specialises in licensing intellectual property and transforming it into global live entertainment experiences.
Kaizan – £2.5m
Sector: AI
HQ: London
Round: Seed
Investors: Pembroke VCT, Velocity Capital and Various Angel Investors
Founded in 2022, Kaizan provides an AI client management platform that analyses account data and communication signals.
H2CHP – £1.5m
Sector: Energy
HQ: Durham
Round: Seed
Investors: Blackfinch Ventures, Northstar Ventures (North East Spinout Inspire Fund) and Innovate UK
Founded in 2024, H2CHP develops fuel-flexible, high-efficiency generators to provide clean power for data centres.
