News
Reading-based drone management platform Altitude Angel has secured $4.5m in Series A funding.
The company’s round was led by the Seraphim Space Fund, a £67m tech investment vehicle.
ADV and Frenquentis AG also participated in the startup’s financing round.
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UK InsurTech Inzura has raised $1m to boost its international growth.
The startup, which is headquartered in the UK, will also use the funds to accelerate its new technology developments, including machine learning and AI.
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For the first time, mobile sales accounted for more than 50 percent of the group’s total sales, which reached $2.6 billion in 2017, a year-over-year increase of 17 percent. It was Yoox, in particular, that gained mobile ground: While the company doesn’t break out individual retailer sales, it reported that 96 percent of Cyber Monday sales on Yoox were made via mobile.
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Maplin – one of the UK’s leading specialist technology retailers – is to let its customers order online and receive the very latest Smart Home tech, security/CCTV products, top quality drones and so on, and then pay for them either at a later date or spread the cost over time.
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Entrepreneurs have limited access to hard data that could help them make sound decisions when trying to build a successful new company. This is generally due to a fundamental lack of information about the materialised events of previously successful companies.
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French startup Spendesk just raised $9.9 million (€8 million) from Index Ventures with Michael Benabou, Laurent Asscher and Showpad cofounders Louis Jonckheere and Pieterjan Bouten also participating. Spendesk is a service that combines prepaid cards with an expense report solution.
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Around the same time that Shazam was selling for a fraction of its valuation the last time it was priced, its competitor SoundHound quietly raised a new round of financing that values the company at an estimated $1 billion, Recode has learned. Investors apparently believe that despite the troubles of a similar product, there is value in virtual assistants.
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A social network that helps new mothers make friends has bagged a £2m cash injection to boost growth and invest in app development, writes Liam Kelly.
Mush was launched in 2016 by Katie Massie-Taylor, 34, a former Citi derivatives broker, and Sarah Hesz, 35, a marketing consultant, after they met at a London playground with their children and talked about how they had struggled to make friends with other new mothers.
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UK smart battery firm Moixa has raised £5m from ITOCHU Corporation, a Japanese trading house, which has also backed other UK firms including Paul Smith and Kwik Fit.
Moixa also received £500,000 from existing shareholders.
Today’s news comes after the firm announced a £2m cash boost last year, saying at the time that it would use the money to expand in the UK and abroad.
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Data engineering tech company Duco has raised $28m in a Series C round.
The company drew investment from Insight Venture Partners, NEX Opportunities and Eight Road Ventures.
Cristobal Conde, the former CEO of SunGard and serial entrepreneur, also participated in the round.
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