This week saw a notable 20% increase in UK tech investments, reaching a total of £131m across various sectors.
- Significant deals include a £95m capital raise by ecommerce leader THG, aimed at demerging its Ingenuity division.
- Edtech platform Perlego secured £15m to enhance access to its extensive digital library of educational titles.
- Cybersecurity firm Harmonic raised £13m through a Series A round to boost data protection capabilities.
- Fintech firm Monzo achieved a valuation of £4.5bn following an employee share sale.
This week, UK tech investments saw an impressive 20% rise, culminating in a total of £131m. This increase is distributed across varied sectors, reflecting robust investor confidence in the UK’s tech landscape, especially amidst evolving market dynamics.
THG, a prominent name in ecommerce, successfully raised £95m via a capital raise. This funding will support the demerger of its Ingenuity division. Existing long-term institutional shareholders participated in this round, underscoring sustained belief in THG’s strategic direction.
In the education technology sector, Perlego, based in London, garnered £15m. Former Tesco CEO, Sir Terry Leahy was among the investors supporting Perlego’s mission to democratise learning via its subscription-based digital library, offering users unlimited access to over one million titles.
Harmonic Security, operating in both London and San Francisco, secured £13m through a Series A funding round led by VC firm Next47. Harmonic empowers security teams with advanced tools to safeguard sensitive data through pre-trained data protection models, a crucial need in today’s digital age.
Fintech player Monzo reached an impressive valuation of £4.5bn. This milestone followed a share sale where employees sold their holdings to StepStone Group and Singapore’s sovereign wealth fund, GIC. The sale highlights ongoing investor interest in Monzo’s innovative financial solutions.
Overall, these funding rounds mark a positive trend in UK tech investments, highlighting investor confidence across diverse sectors.
