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SEP’s £260m fund for UK tech, Trump’s US election victory & more in the Week in Tech

Welcome to your Week in Tech – a roundup of the week’s top technology news.

In this episode, we bring you Arkivum’s £3m Series C round, a £260m fund for high-growth tech companies, Donald Trump’s victory and an app that rewards you for exercising.

Watch the video, or read on, for all this and more.


In investment news, data preservation and archiving solution firm Arkivum announced the closure of a £3m Series C round. Existing investors IP Group plc, Oxford Capital and Parkwalk Advisors participated in the round.

Loot, a banking and money management app, raised £2.5m from investors including SpeedInvest, an Austrian early-stage fund. The London-based startup, which was founded in 2014, also received funding from Global Founders Capital.

Electric Jukebox closed a £1.5m Series A round, bringing the total raised to date to £7m. The startup drew support from a long list of investors including David Munns CBE, a former worldwide vice-chairman of EMI.

Scottish Equity Partners announced the launch of a £260m fund to invest in high-growth tech companies in the UK. It’s looking for firms operating in the e-commerce, Software-as-a-service, healthcare and energy sectors.

Best of British

Cybersecurity firm ITC Secure Networking was acquired by tech investment firm C5 Capital Limited for £24m. The London-based firm was established in 1995, and is expected to keep its entire management team following the deal.

It’s not been such a great week for taxi app Karhoo. The cab comparison service shut up shop having tried, but failed, to compete with Uber.

The firm reportedly raised $250m in funding in 2015 plus an undisclosed Series A round in January, but said in a statement it ceased operations due to being in a ‘dire’ financial situation.

International story

In international news, it would be hard to ignore Wednesday’s US election result. Shortly after Trump’s victory, it was reported that Canada’s immigration website crashed due to increased traffic.

Coincidence? I’ll let you decide…

Manchester documentary

This week we also launched our documentary on the Manchester tech scene. We spoke to startups based in the city, plus some of those working to encourage growth in the local tech sector.

Visit our video page now to check it out.


Our download of the week is Earthmiles. The app rewards users for their physical activity, in the way that air miles reward passengers for flying.

The app, which detects your movement every time you walk, run or cycle, calculates your earthmiles, and these can be spent on rewards from a range of health and fitness brands.

And finally…

And finally, if you’re not a fan of ironing, London company ihateironing has just the gadget for you.

It’s a “laundry on demand” button which, when pressed, sends a driver to your home in the next hour to collect your laundry. The firm will return your washed and ironed clothes back to you within 24 hours.

That’s it for this episode of The Week in Tech. To keep up to date with the latest technology news, follow us on Twitter.