This Week in London Startups - Issue #28, 23rd November 2021



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This Week in London Startups - Issue #28, 23rd November 2021
By London Startup Club • Issue #28 • View online
Lights out for good at Bulb it seems. The energy sector has seen a lot of disruption (not the good kind) this year with other providers also going into administration.
The silver lining for Bulb is that this only seems to affect their UK operations, with existing operations in France, Spain and Texas operating as normal.
There is a lot the Bulb team can be proud of - having taken 6% of the total market share in just under 6 years and supporting the green energy revolution now accounting for 30% of all energy in the UK.
This does unfortunately mean for many of the hard-working team at Bulb, their jobs are at risk.
I wanted to use this space in this week’s newsletter to help the impacted team find new work. If you’re hiring or know anyone that is hiring - I would implore you to look through Bulb’s team on LinkedIn and help them find a new role!

Haris Qureshi, Editor & Founder @ London Startup Club
Top News
  • Ericsson to acquire cloud communications company Vonage for $6.2B, more here
  • Balderton Capital launches £450M fund focused on early-stage European startups, more here
  • FCC approves $6 billion Verizon-Tracfone acquisition, more here
  • European tech companies should be minting more millionaires, more here
  • Family locator service Life360 to acquire Tile for $205 million, more here
  • Energy startup Bulb collapses, more here
  • Goodbye London, hello New York: Why we moved our headquarters, more here
  • Facebook’s lead EU privacy supervisor hit with corruption complaint, more here
  • Weddings, festivals and in-person events are back — and investors are in on the party, more here
UK Funding Rounds
  • UK startup offering low-cost infra red diabetes screening bags £1.5M in over-subscribed raise, more here
  • London-based borderless DeFi trading platform Kibo Finance closes $1.5M seed funding, more here
  • London’s sustainable impact platform Greenspark raises £450K funding, more here
  • Apple device management solution helps Kandji bag £74M series C funding at £593 valuation, more here
  • Edinburgh augmented intelligence startup Brainnwave closes £6M funding, more here
  • Bristol-based Ultraleap that develops hand-tracking solution secures £60M funding, focuses on metaverse, more here
  • Former FanDuel executives raises £15.6M to launch BetDEX, decentralised betting venture, more here
  • London-based non-alcoholic spirits brand Lyre’s secures £20M at £270M valuation, more here
  • Tesla rival Tevva vrooms in with $57M to propel Britain’s electric truck revolution, more here
International Highlights
  • Niantic raises $300M at a $9B valuation to build the ‘real-world metaverse’, more here
  • NoBroker becomes India’s first proptech unicorn with fresh $210 million funding, more here
  • Payhawk raises $112M to better compete in the heated corporate card race, more here
  • Creator-driven marketplace LTK now valued at $2B after raising $300M from SoftBank, more here
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