Category: Startups

• Dundee innovation lab secures £1.1 million funding for legal technology project
• Collaboration between University of Dundee and law firm Thorntons to create dedicated space for education in law and technology
• Funding aims to deepen links between Thorntons and the university, offering new career prospects for law graduates
• Project to develop innovative products and services for legal and professional services companies
• University of Strathclyde hosts bi-annual Inspire100 event, awarding funding to start-ups and entrepreneurs for innovative projects

Dundee Innovation Lab Secures £1.1 Million Funding

In a significant boost to the realms of technology and legal innovation, the University of Dundee and law firm Thorntons have successfully secured £1.1 million in funding for their collaborative legal technology project. Read more

• Nigerian EdTech CEOs of startups have raised significant funding, exceeding $100,000, amid a growing EdTech industry in Sub-Saharan Africa.
• The EdTech sector in Nigeria is expected to reach $107.90 million by 2024, presenting investment opportunities despite disparities in education quality between urban and rural areas.
• CEOs like Ojiugo Uche of Genti Media, Ugochukwu of 9jacodekids, Eyitayo Ogunmola of Utiva, Dimeji Falana of EDVES, Sam Emmanuel of Semicolon Africa, Nathan Nwachukwu of Klas, Osayi Izedonmwen of Teesas Education, Ope Bukola of Kibo School, Honey Ogundeyi of Edukoya, Adewale Yusuf of AltSchool Africa, and Sim Shagaya of uLesson Education Limited are leading innovative EdTech startups in Nigeria.

• More money is flowing into African climate start-ups, but a significant funding gap remains, with the continent needing $277 billion annually to meet its 2030 climate goals.
• Private sector funding for climate tech start-ups in Africa has been growing, with businesses raising over $3.4 billion since 2019, but there is still a need to address risks like currency instability to attract more investors.

• African startups raised $75 million in April in 25 deals, marking a 47% drop from the previous year.
• Funding activity in April was the second-lowest since 2021, with only 25 deals above $100k reported.
• Startups in Nigeria and Kenya received 30% and 29% of the funding respectively from the Big Four countries.
• Fintech led in deal numbers, with 25% of the funding going to this sector.

• Founders Fund leads $9 million financing round for composites startup Layup Parts
• Layup Parts founded by Zack Eakin, Hanno Kappen, and Elisa Suarez with experience in tech and manufacturing
• Layup aims to revolutionize composites manufacturing with faster turnaround times and lower costs
• Emphasis on software development to streamline manufacturing processes
• Funding to be used for factory expansion, equipment, hiring, and software development

Transforming Composites Manufacturing: Layup Parts Secures $9 Million Financing Led by Founders Fund

Layup Parts, a composites startup founded by Zack Eakin, Hanno Kappen, and Elisa Suarez, has made significant waves in the industry by securing a $9 million round of financing led by Founders Fund. Read more

• Tech giants and startups are investing billions in AI infrastructure, training, and development, with Microsoft planning a $3.3 billion AI data center in Wisconsin, startup Atlan raising $105 million for its AI-ready data stack, and Mistral AI seeking funds at a $6 billion valuation for open-source language models.
• Microsoft announced a $3.3 billion investment in a data hub in Wisconsin to educate employees and manufacturers on optimizing AI use, generating jobs, training workers, and collaborating with local partners.

• Africa’s tech ecosystem is attracting billions of dollars in venture capital funding, driven by dynamic startups reshaping industries and unlocking new opportunities.
• Fintech sector dominates African market with mobile money solutions offering accessible financial services to unbanked populations.
• E-commerce and Retail Tech experiencing growth with platforms like Jumia leading the way in online shopping experiences.
• E-health startups addressing healthcare infrastructure challenges through telehealth services and digitization of patient records.

• Triomics, a leader in oncology automation, has successfully raised $15 million in funding to advance their GenAI-powered platform for streamlining oncology workflows
• Hysata, a green hydrogen startup based in Wollongong, secured an impressive $172 million in Series B funding, marking Australia’s largest-ever Series B round by a cleantech startup
• Doohly, an outdoor advertising startup, raised $500,000 in pre-Seed funding to expand its digital-out-of-home (DOOH) offering
• Xefco, a Sydney-based startup specializing in innovative coating technologies for the textile industry, secured $10.5 million in a Seed extension round
• Kashcade, a fintech startup, obtained an additional $1 million in funding to expand into the R&D lending space, alongside securing a $22 million warehouse facility for non-dilutive capital solutions.

• £1.9bn UK tech investment tracked by UKTN, with a 32% week-on-week increase
• Wayve secures Series C funding for AI software in autonomous vehicles
• Abound offers AI-powered loans up to £10,000 with reduced defaults
• Iwoca provides loans to small and medium-sized businesses with debt financing
• Dendra in climate tech restores ecosystems with AI-analysed imagery

UK Tech Funding Roundup: Exciting Investments from Wayve to FungALL

In the fast-paced world of UK tech funding, this week saw a flurry of deals across various sectors, showcasing the diversity and innovation present in the country’s startup ecosystem. Read more

• Pipedream secures $13 million seed raise for hyperlogistics
• Invent Analytics raises $17 million in Series B funding for retail planning solutions
• Made With Intent raises £1.5 million to enhance online retail customer targeting
• Wayve receives $1.05 billion Series C investment for embodied AI in autonomous driving
• OSY Group gets £750,000 funding to extend shelf-life of food produce

Retail Technology Funding Roundups: Exploring Recent Investments in Retail Tech Innovations

Retail technology funding is on the rise, with various companies securing significant investments to drive innovation and growth in the industry. Read more

• Health tech startups are seeking overseas funding to overcome local lending challenges, with HealthCap Africa securing nearly $100 million in additional investment to support tech-enabled healthcare solutions.
• The Central Bank of Nigeria’s aggressive interest rate hikes have made it difficult for entrepreneurs to secure loans locally, prompting the establishment of alternative financing solutions like HealthCap Africa.
• African healthtech innovators are attracting significant investment from abroad, with $167 million raised in 2023 despite a slight decline from the previous year.

• Aid for Rural Education Access Initiative receives UK funding for tech ecosystem awareness in Nigeria
• Project aims to address environmental impact of Nigeria’s expanding technology sector
• Initiative includes evidence generation, knowledge management, capacity development, awareness campaigns, and policy advocacy
• Goal is to promote eco-conscious practices in technology sector and reduce digital carbon footprint
• Collaboration with various stakeholders to implement nationwide citizen engagement strategy

UK Tech Funding: AREAi Receives Support for Tech Ecosystem Awareness

In a significant development, the Aid for Rural Education Access Initiative (AREAi) has secured funding from the United Kingdom government to bolster efforts in promoting awareness about the environmental impact of Nigeria’s rapidly expanding technology ecosystem. Read more

• Vermont is vying for significant federal funding to enhance its newly designated “Tech Hub” focused on GaN technology
• OnLogic, a tech company in South Burlington, is hosting a GaN testing lab and requires federal funding to expand its facilities
• Vermont has submitted a Phase Two pitch for $36 million to fund various GaN projects, including a design center and prototyping center
• The state is competing against around 20 other pitches for federal funding, with only a few expected to be selected
• The Tech Hub aims to accelerate technological innovation in critical areas such as wireless charging and medical devices, with potential for further development in Phase 3 if funding is secured

Vermont Tech Funding Pitch

In the bustling tech scene of South Burlington, Vermont, a significant opportunity is on the horizon. Read more

• Ali Partovi, a renowned technology influencer, has launched a venture capital fund to support and mentor emergent computer science scholars in North America.
• Partovi’s journey began in the 1980s during the Iran-Iraq war, leading to his passion for computer science and eventual emigration to the U.S. where he excelled at Harvard University.
• Co-founder of successful startups like LinkExchange, iLike, and Code.org,

• Impact-focused startups have a unique opportunity to attract investment by aligning their missions with societal and environmental needs during a global downturn in VC funding.
• Startups must demonstrate a strong connection between financial viability and positive social or environmental effects to appeal to impact investors.
• Participation in impact-focused grants and accelerators can provide startups with capital and credibility within the impact investing community.

• University student inventors at the University of Minnesota, led by Professor Steven Saliterman, developed a light-based treatment device for Reynaud’s phenomenon, a condition causing circulation issues in extremities.
• The student inventors faced challenges of limited funding and lab resources but persevered by scavenging for components and building prototypes.
• The device, now patented and heading for clinical trials, was tested by the student inventors on themselves due to pandemic-related research restrictions.

• UK startup OSY Group secures funding to advance commercialization of Xtend, an antimicrobial packaging coating that extends the shelf life of various food types.
• The funding will also support team expansion at OSY Group’s Manchester International Office Centre location near Manchester Airport.
• Xtend is a water-based coating that punctures and kills microbes on packaging surfaces, proven to be food safe and compliant with regulations.

• Leading Welsh innovation hub, Tramshed Tech, secures funding to boost tech projects
• Introducing new initiatives in 2024 to support student spinouts and creative tech projects in Wales
• Programs aim to accelerate innovation and entrepreneurship, funded by Department for Science, Innovation and Technology
• Convergent Content Scaler offers a 12-week program for scaling creative tech projects, with support from various partners
• UniVentures is a 16-week virtual incubator supporting student startups from Welsh universities, prioritizing traction and providing access to mentors and investors

Empowering Innovation in Wales with Tramshed Tech’s Funding Boost

In a significant development for the Welsh tech scene, a leading Welsh innovation hub has secured funding to bolster tech projects across the region. Read more

• Australian hydrogen start-up Hysata secures $172 million in oversubscribed Series B funding round
• Hysata’s alkaline electrolyser technology boasts 95% efficiency, outperforming incumbent technologies by 20%
• The funding round attracts global energy and funds management giants, including bp and Templewater
• Hysata aims to target hard-to-abate industries such as steel, chemicals, and heavy transport
• The funding will be used to expand production capacity and further develop technology towards gigawatt scale manufacturing

Australian Electrolyser Start-up Attracts Global Backing

In a significant development for the Australian clean tech industry, the hydrogen start-up Hysata has secured substantial financial backing from global energy and funds management giants. Read more

• Clean tech startup Hysata secures $172 million in Series B funding, the largest in Australia for a cleantech startup
• Hysata develops high-efficiency electrolyser for green hydrogen production to decarbonize industries like steel and transport
• Funding led by bp Ventures and Templewater, with participation from various strategic and financial investors
• Hysata plans to scale up production capacity for electrolyser technology to drive down hydrogen production costs
• Hysata aims to expand globally, increase employee count to over 200, and achieve energy efficiency surpassing 2050 targets

Clean Tech Startup Hysata Secures $172 Million in Series B Funding

Clean tech startup Hysata, led by CEO Paul Barrett, has made waves in the green hydrogen industry by raising an impressive $172 million in Series B funding. Read more

• Rapid Liquid Print (RLP), a spin-off from MIT, secures $7 million in Series A funding from lead investor HZG Group, BMW i Ventures, and MassMutual.
• RLP’s new 3D printing technology operates inside a gel, producing large-scale, flexible products quickly, with a focus on automotive and medical sectors.
• HZG Group, based in Bavaria, invests in RLP to support its innovative additive manufacturing process, aiming to develop an industrial-scale production machine.

• Ireland’s DTIF launches seventh funding call for tech disruptors, with a focus on digitalization, economic growth, and climate action
• The fund aims to foster collaboration between industry and research sectors for the development of new technologies
• Minister Peter Burke emphasizes the importance of incentivizing the development of innovative projects
• The fund has supported 104 projects with €371m across six previous calls, including one involving Ostoform
• Applicants for the fund must meet specific criteria, including a focus on industrial research and the presence of at least one SME in the consortium

Ireland’s DTIF Launches Seventh Funding Call for Tech Disruptors

In a bid to support cutting-edge research projects focusing on digitalization, economic growth, and climate action, the Irish Government has launched the seventh call for its Disruptive Technologies Innovation Fund (DTIF). Read more

• Nusku secures £1 million funding to develop innovative air source heat pump technology
• Founded in 2022 by Russel Murchie, Matthew Whitefoot, and Andy Mckay, with a government grant of over £700,000
• Aims to create cost-effective, quick-to-install heat pumps as an eco-friendly alternative to gas boilers
• Focus on developing the smartest, most connected, and efficient heating system in the market
• Funding from DESNZ for product testing at the University of Salford’s Energy House, part of the Net Zero Innovation Portfolio

Revolutionizing Heating with New Heat Pump Technology

In a groundbreaking development, Nusku, a startup based in Bristol, has secured nearly £1 million in funding to revolutionize air source heat pump technology. Read more

• Indian ag-tech start-up Superplum secures US$15m in Series A funding, led by new chairman Erik Ragatz
• Superplum aims to revolutionize produce supply chains in India, offering premium produce like mangoes
• The company utilizes proprietary technology and cold-chain infrastructure to improve the quality and shelf-life of fruit
• Superplum’s traceability system connects consumers with farmers, reducing food waste and improving farmer incomes
• The start-up works with farmers across 22 states in India, focusing on providing high-quality domestic produce to consumers

Indian Ag-Tech Superplum Receives US$15m in Series A Funding

Indian ag-tech start-up Superplum has recently secured a significant milestone by completing its US$15m Series A financing round. Read more

• Climate Tech Startups can apply for up to $3 million in funding from Elemental Excelerator for innovative climate solutions with deep community impact
• Elemental Excelerator offers tailored support to address critical gaps in operations, sales, equity, access, policy, and corporate agreements for approved startups
• The organization focuses on climate tech solutions in energy, mobility, water, food, agriculture, industry, the built environment, and nature-based solutions
• Elemental Excelerator provides two funding tracks: $350,000 per company in the Strategy Track and up to $3 million per company in the Project Track
• Eligibility requirements include prioritizing equitable projects in low-income and disadvantaged communities, with applications closing on May 31, 2024, and final selections in September 2024

Climate Tech Funding Opportunities with Elemental Excelerator

Are you a climate tech startup looking to make a real impact with your innovative solutions? Read more

• Chowdeck secures $2.5 million in seed investment for Nigerian startup specializing in on-demand delivery services.
• Funding attracted from prominent investors including YCombinator, Goodwater Capital, and founders of Rappi and Paystack.
• Chowdeck has gained over 500,000 users and 3,000 riders in eight Nigerian cities since its launch in October 2021.
• Expansion plans to additional Nigerian markets supported by the funding to enhance market leadership.

• Logistics tech startup Cargado secures $6.8 million in seed funding for team expansion and product enhancement
• Founded by CEO Matt Silver and CTO Rylan Hawkins in October 2023, focusing on cross-border freight logistics innovation
• Investment led by Primary Venture Partners with participation from existing and new investors, including Ryder Ventures
• Plans to invest in data engineers, sales, accounting, and support staff to grow team across multiple locations
• Product launched a month ago with positive feedback on intuitive design, aiming to streamline North American logistics and nearshoring opportunities

Revolutionizing Logistics with Cargado’s Tech Startup

In the fast-paced world of logistics, innovation is key to success. Read more

• Travel startups experienced a significant slowdown in funding after a $689 million surge, with only $29 million raised in the subsequent two weeks.
• Charge Zone raised $19 million for developing a network of chargers for electric vehicles, with plans for expansion in India, the U.S., and the Middle East.
• Turbi, a car rental startup in Brazil, secured $8.5 million to enhance its platform for online car rentals with delivery services.

• Personal savings can be a starting point for tech start-up funding, followed by seeking investment from friends and family.
• Angel investors are a potential source of funding, but pitching to them requires a strong business case and expertise.
• Crowdfunding platforms like Kickstarter offer opportunities for smaller investors to contribute to start-up funding.
• Venture capitalists provide significant investment and mentorship but demand a considerable equity stake in return.

• Xplor Technologies launches Xplor Capital to provide easier access to capital for small businesses, including fitness studios, based on sales volume from its SaaS products like Mariana Tek.
• Mariana Tek, serving fitness studios in the U.S., Canada, and the U.K., offers financing eligibility without credit requirements through Xplor Capital.
• Xplor Capital offers pre-approved funding ranging from $500 to $10 million with transparent fixed percentage repayment and quick accessibility within one business day.