Global venture capital firm Antler has made a £960,000 pre-seed investment into eight UK technology startups.
Shared exclusively with UKTN, each of the eight startups, which operate in areas including fintech, ecommerce and data analytics, will receive £120,000.
Speaking to UKTN, Ollie Purdue, partner at Antler, said: “In every Antler cohort we work with exceptional founders who have the grit and drive to create world-class tech startups.
“We decided to invest in these eight startups at the end of the process because they are either addressing major social and economic challenges or they are operating in sectors experiencing dramatic growth.”
The full list of the eight tech companies are:
– Baselime: Enterprise software startup that lets developers monitor cloud services. It follows on from its £1.5m pre-seed funding round from Sequoia Capital in July.
– Cobble: Debt repayment platform aimed at helping Africans make repayments to increase their credit score.
– Diesta: Fintech platform that automates insurance payments.
– Luca: Athlete mental health support app co-founded by Northampton Saints rugby player Nick Greenhalgh.
– Noki: Data analytics software that gives an analysis of user interviews, such as phone calls.
– SunshineText: A service that suggests things to do with friends in London.
– SuperFi: Fintech to manage credit card debt.
– Twirl: Ecommerce service that lets websites create video content such as product demos, testimonials, unboxings and Instagram Reels.
Jed Rose, partner at Antler, said: “Despite the uncertainty and economic turbulence, now is actually a very good time to create a tech startup and become a founder.
“The global tech downturn is affecting larger, more established companies and we’re seeing a sharp fall in later-stage funding rounds for established startups with higher valuations.”
Rose added that this has led to a rush of established tech talent looking to start their own business and investors shifting their focus towards pre-seed and seed-stage companies. He believes that this “unique combination” could be capitalised on by founders looking to launch their startups.
Antler is based in London with an additional 24 offices in cities spread across Asia Pacific, Europe, the US, Canada, Brazil, the Middle East and Africa.
The eight new additions to Antler’s portfolio were found through its residencies earlier in the year and bring its total UK investments to 56 since launching in the country in 2020. Antler’s UK portfolio is valued at over $200m (£172.5m).
SuperFi will use the funding to gain the necessary regulatory permissions and start testing its app before a public launch. Plans also include a bigger raise next year.
Jamie Bubb, co-founder, Twirl said: “We believe the creator side of the business is looking very healthy and project that we can serve 100+ brands with the current creators we already have on hand.
“So our focus is really scaling the brand side of the platform, onboarding more brands through referrals/affiliates and inbound traffic to a self-serve conversion.”
Antler has previously invested in UK digital sex therapy Blueheart, healthcare payment system Brightpay, hydrogen startup Hydrologiq and healthcare marketplace Vamstar.