This week has been significant for UK tech investment, seeing a remarkable increase.
- Digital bank Zopa leads with a major funding round, eyeing expansion in 2025.
- Legal AI startup Lawhive secures substantial investment for its innovative tool.
- Bitcoin miner Argo Blockchain raises capital amidst strategic operational changes.
- Food tech company Cerve aims to revolutionise the global supply chain with new funding.
In a notable week for UK tech funding, a total of £147.7m was raised, marking a fourfold increase from the previous week. Among the prominent deals was digital bank Zopa, which is on track to expand its offerings by introducing current accounts in 2025. The London-based fintech has received backing from A.P. Moller, among others, as its customer base exceeds one million.
Lawhive, a newcomer in the legal tech sector established in 2021, has received substantial backing in its Series A round. The company’s innovative AI large language model, designed to handle time-consuming administrative legal tasks, has attracted attention and investment from Google Ventures and other notable investors. This funding will allow Lawhive to continue enhancing its platform and efficiency in legal processes.
Argo Blockchain, focusing on Bitcoin mining, secured funds via the London Stock Exchange from an unnamed institutional investor. The raised capital is intended to facilitate the relocation or sale of its mining equipment from the Helios facility in Texas, while sustaining operations in Quebec. This strategic move is expected to bolster the firm’s mining capabilities and operational resilience.
Cerve, operating within the food tech sector, has presented a compelling vision for digitising the global food supply chain. With financial backing from investors like SuperSeed and Zenith during its seed round, Cerve is on a mission to introduce standardised API tools that can significantly streamline supply chain processes. The infusion of capital positions Cerve to push forward with its ambitious plans.
The recent surge in funding underscores the dynamism and potential of the UK tech sector.
