This week witnessed a remarkable surge in tech investments across the UK, marking a significant upswing in the sector’s growth.
- Digital bank Zopa raised substantial funds with the goal of launching current accounts by 2025.
- Lawhive, a legal AI startup, secured investment to enhance its AI capabilities for legal tasks.
- Crypto firm Argo Blockchain obtained funds to relocate its mining equipment.
- Food tech company Cerve aims to upgrade the food supply chain with its recent funding.
This week marked a substantial advancement in tech funding within the UK, with a total of £147.7 million invested, a fourfold increase compared to the previous week.
Zopa, a digital bank headquartered in London, successfully garnered investments from Danske Bank’s investor A.P. Moller and existing shareholders. This funding is directed towards expanding its service offerings to include current accounts by 2025, catering to its more than one million customers.
In the legal sector, Lawhive, established in 2021, made significant strides by securing investment from Google Ventures and others. The capital received will be utilised to further develop its AI large language model, designed to efficiently manage legal administrative tasks.
The crypto sector also saw important investments with Argo Blockchain raising funds through the London Stock Exchange. These funds will facilitate the relocation or sale of its Bitcoin mining equipment from Texas to Quebec, thus ensuring continued mining operations.
Meanwhile, London-based food tech startup Cerve raised seed funding from investors including SuperSeed and Zenith. Cerve’s objective is to enhance the global food supply chain through digitisation, employing API tools to establish a standardised communication protocol across the industry.
The funding influx this week underscores the dynamic evolution and investor confidence in the UK’s tech landscape.
