HomeTechUK tech funding roundup: This week's deals from PolyAI to Alchemie Technology

UK tech funding roundup: This week’s deals from PolyAI to Alchemie Technology

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This week’s UK tech funding deals include AI customer support company PolyAI, remote and freelance worker management platform Native Teams, sustainable fintech Ekko and more.

UKTN tracked £99.8m worth of UK tech investment this week (13 May to 17 May), a 95% week-on-week decrease across 12 funding rounds.

Here’s your weekly roundup of UK tech startup funding deals.

PolyAI – £39.4m

Sector: AI

HQ: London

Round: Series C

Funding type: Equity

Investors: Hedosophia, NVentures, Khosla Ventures and Point72 Ventures

Founded in 2017, PolyAI develops AI voice generation technology for use in customer support centres.

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Steel City Interactive – £15m

Sector: Gaming

HQ: Sheffield

Round: Early VC

Funding type: Not disclosed

Investors: Novator Ventures, London Venture Partners and angels

Founded in 2020, Steel City Interactive is a game development studio working on a new title, a boxing game called Undisputed.

Purple Dot – £7.9m

Sector: Ecommerce/climate tech

HQ: London

Round: Series A

Funding type: Equity

Investors: OpenOcean, Commerce Ventures, Unusual Ventures, Connect Ventures, Moxxie Ventures and angels

Founded in 2020, Purple Dot is a platform for ecommerce brands to facilitate pre-orders to reduce the amount of unsold stock that becomes waste.

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Tiney – £7.2m

Sector: Childcare

HQ: London

Round: Series A

Funding type: Equity

Investors: Mustard Seed partners, PortfoLion, Sparkmind and Rubio

Founded in 2019, Tiney recruits, trains and supports the establishment of ‘micro-entrepreneur’ childminding businesses that can be managed through its app.

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Malted AI – £6m

Sector: AI

HQ: Edinburgh

Round: Seed

Funding type: Equity

Investors: Hoxton Ventures, Creator Fund and angels

Founded in 2023, Malted AI distils large language models to create bespoke generative AI tools focussed on specific client needs.

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Native Teams – £5.4m

Sector: HR tech

HQ: London

Round: Pre-Series A

Funding type: Equity

Investors: Eleven Ventures, Fil Rouge Capital, MFG Invest and Begin Capital

Founded in 2020, Native Teams is a platform for freelancers and remote workers to manage payments, legal admin and taxes.

ULEMCo – £5m

Sector: Automotive/energy

HQ: Liverpool

Round: Series A

Funding type: Equity

Investors: Mercia Ventures, Equity Gap, Scottish Enterprise and the North West Fund

Founded in 2014, ULEMCo converts commercial vehicles such as LGVs and specialist utility trucks to run on hydrogen energy.

Ember – £5m

Sector: Fintech

HQ: London

Round: Seed

Funding type: Equity

Investors: Valar Ventures, Viola Fintech and Shapers

Founded in 2018, Ember is an embedded accounting startup providing digital accounting services to SMEs.

Provenance – £3.95m

Sector: Climate/Marketing tech

HQ: London

Round: Pre-Series A

Funding type: Equity

Investors: S4S Ventures, Nordic Eye, Alumni Ventures, Angel Academe and Innovate UK

Founded in 2014, Provenance is a sustainability communications platform that validates climate claims from clients.

Ekko – £2m

Sector: Fintech

HQ: London

Round: Seed

Funding type: Not disclosed

Investors: Fuel Ventures, Sorven Partners, Mishcon de Reya and existing investors

Founded in 2019, Ekko is a climate-focused fintech startup that plants trees and supports conservation projects when customers use its debit card.

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Radiant Matter – £1.2m

Sector: Climate tech/bioscience

HQ: London

Round: Seed

Funding type: Not disclosed

Investors: Sustainable Ventures, Ada Ventures, Evenlode Impact, Martlet Capital and Cambridge Angels Group

Founded in 2020, Radiant Matter is developing sustainable materials out of plant-based cellulose for use in cosmetics, coating, packaging and more.

AimHi Earth – £1m

Sector: Climate tech

HQ: London

Round: Seed

Funding type: Equity/convertible notes

Investors: Climate Planet Foundation, Nicco Perra and Sam Wisnia

Founded in 2021, AimHi Earth is an upskilling platform that provides training sessions focused on climate and sustainability.

Alchemie Technology – £750,000

Sector: Climate tech

HQ: Cambridge

Round: Grant

Funding type: Grant

Investors: Innovate UK

Founded in 2013, Alchemie Technology has developed a process of dyeing and finishing textiles that reduces energy consumption and water waste.

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