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This Week in London Startups - Issue #13, 28th July 2021

This Week in London Startups - Issue #13, 28th July 2021
By London Startup Club • Issue #13 • View online

HM Treasury
𝗙uture Fund: Breakthrough
𝗨K-wide scheme
𝗧o support innovative start ups
𝗨plifting their growth
𝗥&D focus
𝗘xtends UK’s position as a scientific superpower

𝗙unding of £375m
𝗨pgrades investment in technology
𝗡ot tied to original Future Fund
𝗗riving our economic recovery
Meet the UK’s newest VC. No, it’s not an American fund venturing across the pond, it’s Britain’s own Rishi Sunak.
The Treasury has announced a £375M fund aimed at increasing innovation in the UK. More here and listen to what Rishi has to say in the tweet above 👆
Fast-growing firms working on “gamechanging” technology, including in areas such as life sciences and clean energy, are being invited to apply for a slice of a £375m fund aimed at fostering innovation in the UK.
The fund will work similarly to other government schemes, where companies will still need to show they have secured private investment - at least 70% of their funding in this case with the government making up the difference.
Companies will need to be seeking at £30M to qualify.
Keep an eye out as Rishi will be hosted a tech conference in East London (naturally), in September to connect investors and business leaders in tech and talk more about the Future Fund.
Haris Qureshi, Editor & Co-Founder @ London Startup Club
Top News
  • The UK is ageing, but its social care is not up to snuff. Can technology help? More here
  • Not-For-Profit Growth—U.K. Tech Veterans Launch Accelerator For Climate Startups. More here
  • Index Ventures has closed a trio of new funds: a $900M early-stage fund, a $2B growth-stage fund and a previously announced $200 million seed-stage fund - totalling $3B. More here
  • Visa makes another big bet on fintech, buying UK payments start-up Currencycloud, more here
  • Starling Bank moves into mortgages: Digital challenger snaps up buy-to-let lender Fleet for £50m as part of expansion drive, more here
Funding Rounds
  • Sproutl, Farfetch for gardeners in the UK bags £6.5M to scale its online marketplace, more here
  • BenevolentAI ‘s former VP of Strategy picks £3M to launch a tech startup to reduce workplace stress, more here
  • Electric car subscription startup Onto races ahead with $175M to drive Britain towards a greener future, more here
  • London-based women’s health app, Peppy, raises £6.6M to directly link females with specialists, more here
  • UK-based Element, a messaging app built on the decentralized Matrix protocol, raises $30M, more here
  • Sales Impact Academy, London’s go-to-market learning platform secures $4M funding, more here
International Highlights
  • One of Nigeria’s high-profile angel investors is launching a fund for African startups, more here
  • Madrid-based Cobee raises €14M to double down on its mission to improve access to employee benefits, more here
  • Angell, the French manufacturer of smart bikes is best known for launching the lightest electric bikes in the world has raised €12M, more here
  • French startup, YesWeHack, that helps find online threats and vulnerabilities picks up €16M, more here
  • Employment Hero gets $140M AUD Series E led by Insight Partners, grows valuation to $800M AUD, more here
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