Deals of the week March 28-April 1 – a roundup of growing businesses
Sourceful finds £15m to help brands decarbonize
sourcefula sustainable product sourcing platform, has secured $20m (£15.2m) in a Series A funding round led by Index Ventures. Founded in 2020, Sourceful works with brands to find, create and deliver more environmentally friendly products by reducing the carbon footprint of their packaging and supply chain.
Minut raises £11m in Series B funding
Minutea startup that monitors noise levels, occupancy, movement and temperature at vacation rental properties in an effort to prevent parties and protect homes, has closed a Series B round of 14 million (£10.7m) led by Capital of Almaz. Using machine learning and AI, the Minut sensor analyzes sound volume and events without streaming audio recordings to protect guest privacy. Minut is has entered into a partnership with Airbnb, which now recommends the solution to its guests.
Sano raises £8m for long-term medical research
DNA testing start-up Sano genetics raised $11m (£8.4m) in a Series A funding round led by MMC Ventures. Sano has developed a software platform that connects patients living with rare and chronic diseases, such as Long Covid, multiple sclerosis, Parkinson’s disease and Alzheimer’s disease, directly with biotech and pharmaceutical companies conducting research medicine, helping them to develop personalized treatments.
Relative Insight secures £5m investment
Relative insighta text analytics platform that helps businesses understand market trends and consumer language, has received a £5m investment from YFM Equity Partners (YFM). The startup’s platform analyzes text data from any source (such as surveys, social media and reviews) and its AI-powered text analysis techniques highlight the differences reviews in consumer language to give companies qualitative insights into data.
Tagus Capital buys NFT payment system
Wertthe first payment platform to buy NFTs with credit cards, raised $5m (£3.8m) in a seed round led by a UK-based crypto fund Capital of the Tagus. Wert (meaning “value” in German) uses embedded financial technology to simplify the purchase of NFTs and other decentralized financial products (DeFi). Through the payment interface, non-crypto owners can purchase NFTs directly and participate in the Web3 ecosystem.
Swytch pedals with £3m investment
Eco-Friendly Electric Bike Conversion Kit Company Swytch raised £3.1m from OnePlanetCapital. Swytch creates a product that can be used on 99% of bikes worldwide, allowing a standard bike to easily and indefinitely upgrade to an e-bike. They claim to have been able to save over 17,000 tonnes of CO2 over the past two years with over 500 car miles saved each year per customer.
Tech solution for shift workers secures £3m
Based in Manchester Orkaa company that provides technology solutions to shiftworkers and their employers, has secured a £3m investment from Companies of Praetura. Orka’s products include a platform that allows workers to find temporary employment with large organizations and a soon-to-be-launched passport system that will eliminate the need for background checks each time someone works on the platform. The funding follows an earlier investment of £29 million in the start-up.
Benefits platform brings in another £750,000
A Bristol-based start-up that developed a digital benefits platform has raised £750,000 from thank you. Cloud8The BEAM at Work platform enables benefits consultants and other advisors to deliver services online, increase efficiency and improve customer service. The latest funding round, which comes from Mercia’s EIS funds, brings the total raised to date to £2.75m.
Forest regeneration start-up boosts seed investment by £370,000
A company aiming to create healthy forest ecosystems has been awarded £370,000. Based in Edinburgh Rhizocore Technologies, which plans to support the planting of 40 million new trees in the UK each year, produces suitable fungi to improve tree planting projects. The company’s specially developed fungal pellets are used when planting new saplings, helping to accelerate forest regeneration and improve forest productivity. The seed investment package includes £85,000 of funding through the Edinburgh Technology Fund (ETF) and £130,000 of Core capital.
More deals of the week
Deals of the week March 21 to March 25 – a roundup of growing businesses
Deals of the week March 14 to March 18 – a roundup of growing businesses
Deals of the week March 7 to March 11 – a roundup of growing businesses