A quarter of the UK’s unicorns were created in 2021 alone as the tech sector shines TECH New data shows how UK tech boomed in 2021, raising £26bn, doubling last year’s figures and creating a record number of unicorns.
Asian food-focused delivery startup HungryPanda raises $130m Food delivery startups London-headquartered HungryPanda, a food delivery startup that caters for Asian restaurants and populations overseas, has today announced it’s closed a $130m Series D funding round – just over a year after its $70m Series C. Its latest round was led by the family-backed private equity and growth investor Perwyn, alongside investors Kinnevik, Felix Capital, 83North, [...]
Cazoo announces revenue boom as second-hand car demand soars Cazoo announces third-quarter success, as their offering resonates with second-hand buyers and a growing delivery culture. The used-car retailer report a growth in revenue up 267 per cent YoY, to £174.4m in Q3. Within this, retails revenues were up 207 per cent YoY, with a gross profit of £11.8m, up by £12.5m compared to Q3 [...]
File-sharing platform WeTransfer shows strong third-quarter as workforce remains remote October 26, 2021 WeTransfer reports a strong third-quarter, as clients remain digital and remote.
Exclusive: NatWest-backed Updraft raises £72m in latest funding round October 19, 2021 NatWest-backed Updraft, an app which aims to help people get out of debt, has raised £72m in its latest funding round as it eyes expansion. The fintech firm, which is looking to lend £200m to UK customers next year, allows customers to connect their bank accounts and view their debts from across credit cards and [...]
Exclusive: Meet the UK’s 50 fastest-growing startups October 12, 2021 A total 50 of the most promising high-growth tech firms in the UK have been named as the country’s top scaleup companies by tech group Silicon Valley Comes to the UK (SVC2UK). Smart employee app Blink, charity fundraiser Enthuse, and digital health platform supporting under-served areas of healthcare, Pepp, were among the firms selected for [...]
Mental health startup BetterUp trebles value to $4.7bn since hiring Prince Harry October 10, 2021 BetterUp, the mental health startup which hired Prince Harry earlier this year, has raised $300m from investors, trebling its valuation to $4.7bn (£3.5bn) in just eight months. The company’s recent funding round was led by Iconiq Capital – an investment fund who have managed Mark Zucherberg – Wellington Management and Lightspeed Venture Partners, The Sunday [...]
Startup city: Square Mile investors make London the top place after Silicon Valley for tech firms September 22, 2021 London is second only to Silicon Valley for the best place for startups to thrive, according to a definitive ranking of the world’s major tech and business hubs. The capital tied with New York in second place to the Californian area synonymous with billion-dollar valuations and tech bros – and far ahead of the next [...]
Over half of UK tech investors ready to pull capital over proposed clampdown on startup M&A September 14, 2021 Investors in UK startups are ready to pull capital over the threat that a proposed competition clamp down on startup M&A by the CMA’s new Digital Markets Unit (DMU) poses to the country’s startup innovation and growth. Half (50 per cent) of the UK’s investors in startups will significantly reduce the amount they invest in [...]
UK global talent visa applications surge during lockdown August 31, 2021 Applications for the UK’s tech visas increased by almost 30 per cent during lockdowns and the pandemic, as the UK continues to attract global talent, according to industry body data. Applications for the Global Talent Visa between April 2020 to March 2021 increased by 28 per cent compared to the same period the previous year, [...]