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.
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....