According to new research by PwC, VC and corporate investment in startups developing technology enabled solutions to climate change, and the transformation to net zero emissions, grew at a faster rate than VC investment as a whole between 2013 - 2019. In that time, US$60 billion of early stage capital was invested globally into startups contributing to tackling the net zero challenge. 

Tech Nation, the growth platform for tech companies and leaders, announces the 31 tech companies that have been selected to join the Fintech Cohort 3.0, in conjunction with revealing new data that shows the UK is leading fintech in Europe. 

The cohort includes companies from across the fintech sector; operating in areas such as: insurance, regtech, open banking and digital ID. This year’s cohort features a high proportion of insurtechs, at 20%; with this being the first year that insurtech companies qualified for the programme. It reflects the strong growth of insurtech as a sub-segment of fintech in recent years. 

Finance Durham Fund has invested £250,000 in Power Roll, a developer of ultra-low-cost and lightweight flexible film for energy generation and storage. The investment through Finance Durham, which is managed by Maven Capital Partners, will support construction of a solar film pilot plant in County Durham, further improve the efficiency of Power Roll’s solar film technology and help commercialise its capacitor technology with its joint venture partner.

Finch Capital has published its latest annual research, The State of European Fintech 2020.

AccelerComm, a Southampton University spinout supercharging 5G, satellite and other wireless communications with IP which increases spectrum efficiency and reduces latency, has raised £5.8m in Series A funding in a round led by IQ Capital alongside  existing investors Bloc Ventures and the IP Group. The funding will be used to expand the current team, drive US and global expansion, and develop the technology further as demand for the company’s cutting-edge digital signal processing IP grows among mobile operators, telecoms equipment vendors, satellite operators and connected device manufacturers.

Praetura Ventures, the VC fund that targets high-value sectors in the north of England, is investing £1m in a tech company that helps businesses defend themselves against customer-focused cyberattacks and improve the digital experience their websites offer to consumers.

The funding secured by Leeds-based RapidSpike will allow it to enhance and scale its product and expand its client base to add to its stable of blue-chip customers that includes William Hill, Npower and major US brand retailer Helen of Troy (owner of Revlon, Braun and Honeywell among others).

Tribosonics, whose smart sensing technology helps industry to reduce costs, has raised £1.1m from NPIF – Mercia Equity Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund.

Tribosonics embeds sensors within bearings and other moving parts to create ‘intelligent components’ which can monitor friction and wear and tear. The results help companies to extend plant life, prevent critical failures and reduce energy use.  Tribosonics’ technology can be used in manufacturing, power generation and transport – for example to create smart factories, or in critical parts such as the bolts on wind turbines and the bearings within a ship’s propeller.

Lincolnshire-based cyber security firm KryptoKloud Limited is pursuing new growth following a £500,000 investment from Foresight Group using finance from the Midlands Engine Investment Fund.

The Company is the latest in a number of female co-founded firms supported by MEIF, with the Foresight managed fund investing over 25% in mixed gender founding teams thus far, well above the 10% share of venture capital funding that normally goes to mixed gender teams.

BGF, the UK’s most active growth capital investor, has invested £3 million into 365 Response, a Wakefield-based technology business which provides mission critical transport management and eProcurement software to NHS and local government organisations, as well as private transport providers supporting the delivery of community based mobility and wellbeing services.  

Tech Nation, the growth platform for tech companies and leaders, has today announced the launch of the Fintech Pledge with support from HM Treasury (HMT) and the Fintech Delivery Panel, to accelerate the growth of the UK’s fintech sector by enabling enhanced collaboration between banks and leading fintech firms.

E-commerce platform Moteefe has raised $11 million during their latest funding round.

The round was led by GBF with participation from existing investors, including Gresham House Ventures and Force Over Mass Capital.

QuadSAT, a Danish company that is revolutionising test and measurement of satellite antennas, has closed a €2 million Pre-Series A Investment, the largest venture investment in a Danish drone tech company in history. The round was led by Seraphim Capital, the world’s first venture fund dedicated to SpaceTech, Vaekstfonden, the Danish state’s investment fund, and Angel Investor, Helge Munk.