This week’s UK tech funding has seen a significant increase in investment, with £106.5 million raised.
- The drug discovery platform PhoreMost secures Series B funding with numerous investors participating.
- Mortage fintech company Twenty7tec attracts growth equity investment from the Business Growth Fund.
- UK tech sector experiences a 130% rise in investment, covering 12 different funding rounds.
- Key sectors include health tech and fintech, highlighting diverse investment interests.
This week’s UK tech funding has realised a substantial increase, with a total of £106.5 million raised across numerous sectors. This demonstrates a robust financial commitment from investors and indicates growing confidence in the UK technology market.
PhoreMost, a drug discovery platform founded in 2014 and headquartered in Cambridge, has successfully completed a Series B funding round. The company attracted investment from a range of backers including BGF, XtalPi Inc, Astellas Venture Management, Trend Investment Group, o2h Ventures, Parkwalk Advisors, Morningside Ventures, and Jonathan Milner. This round highlights the continued interest and potential seen in the health tech sector.
Another noteworthy deal involved Twenty7tec, a fintech company based in Bournemouth. Specialising in streamlining the mortgage application process, Twenty7tec secured growth equity investment from the Business Growth Fund. This investment underscores the relevance and demand for fintech solutions to enhance efficiency in financial services.
Overall, the UK tech sector noted a 130% increase in funding compared to the previous week. This encompasses 12 funding rounds in various tech areas, reflecting a wide scope of interest among investors. The diversity of sectors ranging from health tech to fintech showcases the dynamic nature of technological advancements and investment opportunities within the UK.
Both PhoreMost and Twenty7tec exemplify the diverse landscape of UK tech innovation. Their success in attracting significant funding highlights a trend towards supporting innovative solutions in both healthcare and financial technology.
This week’s funding influx in UK tech signifies strong investor confidence and a promising future for sector growth.
