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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 https://t.co/FQBXDXkdri
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
Events
Roles
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