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UK Tech Funding Deals for the Week

This week’s UK tech funding deals include autonomous vehicle software developer Wayve, white-labelled insurance provider Eleos, personalised fitness and nutrition app Hexis, and more.

UKTN tracked £1.9bn worth of UK tech investment this week (6 May to 10 May), a 32% week-on-week increase across 12 funding deals. This figure includes £1.07bn of debt financing for loan providers Abound and Iwoca.

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

Wayve – £840m

Sector: AI

HQ: London

Round: Series C

Funding type: Equity

Investors: SoftBank, NVIDIA, Microsoft

Founded in 2017, Wayve develops AI software for autonomous vehicles.

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Abound – £800m

Sector: Fintech

HQ: London

Round: Series B

Funding type: Debt/equity

Investors: Citi, GSR Ventures

Founded in 2020, Abound offers loans of up to £10,000. Abound claims its AI-powered affordability checks, which look at customer banking transaction data, significantly reduces the number of defaults on loans it provides.

Iwoca – £270m

Sector: Fintech

HQ: London

Round: Debt facility

Funding type: Debt

Investors: Citibank, Insight Investment, Barclays and Värde

Founded in 2011, Iwoca provides loans to small and medium-sized businesses.

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Dendra – £12m

Sector: Climate tech

HQ: Oxford

Round: Series B

Funding type: Equity

Investors: Zouk Capital, Aramco Ventures, Airbus Ventures, Understorey Capital and Helium-3 Ventures

Founded in 2014, Dendra restores large-scale ecosystems through a combination of field ecology and AI-analysed imagery.

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