This week witnessed several noteworthy investments in the UK’s technology sector, despite a slower funding environment overall, with total investments reaching £37.4m.
- Photonics-based AI processor developer Oriole Networks successfully raised funds through Series A investment, emphasising advancements in AI processing technology.
- Legal technology firm Genie AI also secured Series A funding, leveraging artificial intelligence to innovate in the field of automated contract drafting.
- Emerging from the enterprise software sector, an unconfirmed startup attracted seed investments, highlighting ongoing interest in SaaS enterprises.
- The nightlife navigation app Where You At received seed funding to advance its innovative safety technology for hospitality venues.
In the realm of artificial intelligence, Oriole Networks, headquartered in London and established in 2023, has made significant strides by combining photonics with AI chips to enhance processing power. The company secured Series A funding from Plural, aiming to elevate its technological capabilities within the AI sector.
Similarly focusing on the intersection of technology and industry, Genie AI, founded in 2017, automates the drafting of legal contracts, offering a paradigm shift in legal practices. The London-based company achieved Series A funding with significant contributions from industry giants Google Ventures and Khosla Ventures, marking a noteworthy investment in legal technology.
The enterprise SaaS sector witnessed interest from investors Earlybird and LocalGlobe, who participated in a seed funding round for an undisclosed company. This reflects the sustained investor interest in software solutions that cater to enterprise needs, despite the absence of specific details about the startup.
Meanwhile, Where You At, a navigation tool developed to enhance safety in crowded nightlife venues, received seed funding from Tony Mallin. Established in London in 2020, this app provides innovative solutions to improve user safety and venue navigation in the hospitality sector.
This week’s funding activities highlight the UK’s dynamic tech ecosystem, with noteworthy contributions in AI, legal tech, and safety navigation sectors.
