UK Space Agency fires £18m into Oneweb for a global communications network in space February 18, 2019 The UK Space Agency has invested £18m into building a new global communications network in space, provided by Softbank-backed London satellite firm Oneweb. Named Project Sunrise, the system will initially be comprised of around 650 satellites, before expanding to more than 900 satellites over time. While on a visit to the European Space Agency today, science [...]
Softbank plugs $200m into European-focused Abu Dhabi tech fund February 18, 2019 Japanese investment giant Softbank is said to have stumped up half of the cash for Abu Dhabi state investor Mubadala's new $400m (£309.5m) fund for European tech startups. Mubadala, which has conversely contributed around $15bn to Softbank's $100bn Vision Fund, said last week that its venture arm would be launching the $400m tech fund this year. The move will involve a number of Mubadala's [...]
Berlin banking tech startup behind N26 and Oaknorth nabs €30m from Skype-backer Bessemer February 18, 2019 Software-as-a-service startup Mambu, which provides banking rails to the likes of N26 and Oaknorth, has raised €30m (£26.3m) from the world's oldest venture capital firm. Bessemer Venture Partners, which has backed the likes of Skype, Linkedin and Pinterest, led the round with participation also coming from Acton Capital, the venture arm of Commerzbank, Point Nine Capital [...]
Meet the startups tapped by John Lewis & Partners in its experiential retail accelerator February 18, 2019 John Lewis & Partners has lined up six startups for its Jlab innovation programme, after more than 160 businesses applied to its experiential technology accelerator. A panel of judges heard pitches from 11 startups earlier this month, offering up new ways to navigate stores from a mobile phone or interact with digital screens without needing [...]
Google and Salesforce inject $75m into London’s Gocardless February 18, 2019 City fintech firm Gocardless has raised $75m (£58.1m) in a series E funding round, led by new investors Adam Street Partners and the venture capital arms of Google and Salesforce. The company aims to fix the way businesses collect invoices and make recurring payments by building debit technology on top of the world’s existing banking systems. Chief [...]
Business lender Iwoca rakes in £150m financing from Augmentum Fintech and NIBC February 18, 2019 Small business lending challenger Iwoca has closed a total fundraise of £150m, led by an earlier £7.5m investment from London-listed fund Augmentum Fintech. City A.M. understands the raise was made up of a £20m series D equity funding round and £130m in debt capital. Existing investor Prime Ventures also participated, alongside NIBC Bank. A person [...]
Canadian tech hub One Eleven opens up first international campus in London February 14, 2019 Scale-up innovation hub One Eleven has made its first leap outside of Canada, landing in Shoreditch with a new space for London's tech firms. The North American hub's first international site is just off the City's Silicon Roundabout, a stone's throw from the former offices of the likes of Monzo and Starling Bank. One Eleven chief [...]
Peltarion, the AI startup used by Nasa, Ocado and Tesla, raises $20m February 14, 2019 Swedish artificial intelligence (AI) startup Peltarion is heading across the Atlantic after closing a $20m (£15.5m) funding round. The series A funding was led by Euclidean Capital, which has also backed the likes of popular DNA ancestry startup 23 And Me. Existing investors FAM, which is owned by Swedish investor family the Wallenbergs, and EQT Ventures also took [...]
Blockchain oil firm taps former JP Morgan director as new chief February 13, 2019 A firm that wants to reinvent commodities trading by using blockchain technology has hired a former energy trader from JP Morgan and Mercuria as its next chief executive. Vakt, which aims to eliminate paper-based trading and secure audit processes by putting it on the blockchain, has been backed by major oil firms such as Shell, Chevron [...]
Starling banks £75m funding round from Merian Global Investors February 13, 2019 Starling Bank, one of fintech's Big Three digital banking stalwarts, has closed a £75m funding round led by Merian Global Investors. The challenger bank said £60m was provided by Merian, formerly known as Old Mutual, which included a £19m injection from Merian's equity investment firm Chrysalis. The round was closed out with £15m from Starling's sole existing investor [...]