Revving secures £107M to combat UK adtech's cash flow crisis
Revving, a fintech scale-up transforming digital media payments, has secured a £107M investment led by DWS, including £100M in debt funding to be injected into the UK adtech sector. The investment aims to tackle extended payment terms that have long hindered digital businesses, with Revving expecting to fund up to £1.8B over the next three years, potentially generating an £8.6B boost to the UK economy. CEO Chris Pettit emphasised Revving's mission to eliminate late payments, a major issue that led to the collapse of over 50,000 UK businesses last year. By reinventing invoice factoring through its sophisticated digital platform, Revving is helping UK adtech compete globally against better-capitalised US firms.
The complexity of the adtech ecosystem has resulted in slow payments between publishers, agencies, and networks, causing financial strain across the digital supply chain. SME affiliates, in particular, face a "David and Goliath" moment, with large platforms like Google shortening supplier payment terms while major brands extend invoicing cycles. Revving’s receivables funding platform offers an industry-first solution by integrating with digital marketplaces to capture sales data, providing instant revenue access before invoices are issued. This innovative approach, backed by its proprietary technology and credit risk engine, enhances cash flow, enables reinvestment, and improves financial transparency, benefiting both publishers and advertisers in the fast-evolving digital economy.
Augmetec raises £2M+ in seed funding to eliminate inefficiencies in managing and conducting internal and regulatory investigations
Augmetec, a legaltech startup founded by renowned investigator Kritin Sundaram, has raised over £2M in seed funding to expand its AI-powered investigations platform, LEIAA. The round was led by UK-based Fuel Ventures, with participation from Swiss fund 14Peaks Capital and three prominent angel investors. Augmetec aims to revolutionise internal investigations by addressing inefficiencies in ethics, compliance, and regulatory workflows, offering a streamlined, automated solution that enhances precision, transparency, and auditability. With increased global enforcement actions and regulatory scrutiny, the demand for efficient investigative tools is rising, and Augmetec is positioned to meet this growing need.
The LEIAA platform provides an end-to-end solution for multinational corporations, law firms, financial institutions, and governments, leveraging AI and automation to standardise processes, optimise costs, and improve decision-making. The new funding will be used to expand Augmetec’s global reach, enhance product development, and strengthen enterprise partnerships. CEO Kritin Sundaram highlighted the urgent need for a solution like LEIAA, as investigative teams handle increasingly complex, multi-jurisdictional cases. Investors, including Fuel Ventures and 14Peaks Capital, praised Augmetec’s potential to transform regulatory investigations through its deep industry expertise and cutting-edge technology.
Wa’ed Ventures becomes strategic investor in UK cloud startup Ori as it plans to localize its technology in Saudi Arabia
Ori, a UK-based AI cloud infrastructure provider, has secured a strategic investment from Wa’ed Ventures, the venture capital arm of Saudi Aramco, to accelerate its localization in Saudi Arabia and expand its presence across the MENA region. The company, which has rapidly scaled to over 20 locations since its launch in 2019, recently became one of the UK’s first AI firms to deploy Nvidia’s H200 chips. With the support of Wa’ed Ventures and other key investors, Ori will launch a subsidiary in Riyadh to foster local AI talent and contribute to Saudi Arabia’s Vision 2030 initiative.
Ori recently raised £140M and is preparing for a larger funding round in 2025. The company collaborates with leading tech firms like Nvidia, Supermicro, and Dell, and is backed by investors including Telefónica and NextEra Energy. CEO Mahdi Yahya emphasized that the partnership with Wa’ed Ventures aligns with Ori’s mission to provide AI infrastructure for global enterprises. Wa’ed Ventures’ CIO, Muhammed Zeeshan Hassan, highlighted Ori’s role in advancing AI and high-performance computing, ensuring businesses have the resources to scale AI workloads effectively.
Finalrentals secures six figure investment in Pre-Series A funding
Finalrentals, a rapidly expanding car rental technology platform, has secured a six-figure Pre-Series A funding round, bringing its total funding to over seven figures. Investors include the E100 London Business School Angel Syndicate and leading angel investors from London and the US, alongside existing backers. This funding follows a period of remarkable growth, with Finalrentals tripling its revenue year-over-year, expanding into over 30 international markets, and growing its partner network to over 500 car rental providers.
With this investment, Finalrentals aims to surpass $1.5M in annual revenue, increase its global team by 40%, and enhance its AI-driven automation and product development. The company is focused on expanding its presence in Europe, the Middle East, and North America, positioning itself as a key disruptor in the $100 billion car rental industry by bridging the gap between local rental businesses and global travelers. CEO Ammar Akhtar emphasized the company’s commitment to revolutionizing car rentals through cutting-edge technology and automation.
FLIT secures £1.2M to scale production of lightweight folding e-bikes
FLIT, a Cambridge-based engineering company specialising in folding electric bikes, has raised £1.2M in new funding from ACF Investors, Cambridge Angels, and former British Cycling Head of Technical Development, Tony Purnell. The investment will help ramp up production of the FLIT M2, a lightweight, compact e-bike designed for urban commuters. Weighing just 14.5kg, the M2 features an innovative no-weld adhesive bonding technique—originally developed during COVID-19 supply chain disruptions—which enhances structural precision, reduces weight, and improves the folding mechanism.
This funding follows an Innovate UK grant in 2023 and will accelerate the delivery of the M2, which began shipping in October 2024. FLIT’s approach of integrating electric and folding capabilities from the outset, rather than retrofitting motors to existing designs, sets it apart in the £400M folding e-bike market. Managing Director Alex Murray highlighted the company's commitment to making urban commuting easier, while ACF Investors' Tim Mills praised FLIT’s innovative design and potential to capitalise on the growing demand for space-saving mobility solutions.
Nodes & Links Raises £9.52M Series B to pioneer the Agentic AI revolution in construction
Nodes & Links, an AI enterprise platform for construction projects, has raised £9.52M in a Series B funding round led by ETF Partners, with participation from SFC, Uncorrelated, and existing investors. The funding will support its expansion across Europe and the US, delivering Vertical AI solutions to automate critical workflows such as project performance analysis and compliance reporting. By streamlining these processes, Nodes & Links is helping enterprises boost efficiency while reducing carbon footprints, with Fortune 500 companies like Intel, The Royal Bam Group, and AECOM already benefiting from its technology.
In 2024 alone, the platform saved enterprises over 175,000 hours, $3.8M, and reduced 9,000 kT of carbon emissions across 711 projects. Its AI-powered agents cut workflows that typically take days into minutes, allowing teams to focus on risk mitigation and decision-making. CEO Greg Lawton emphasised the company’s mission to eliminate inefficiencies and drive smarter, greener construction, while ETF Partners’ Lucy Rand highlighted the platform’s ability to align business performance with sustainability goals.
Alfa raises £496K in pre-seed funding to build their AI Recruiter Agent
Alfa AI, an AI-driven recruitment startup, has raised £496K in pre-seed funding at a $6M valuation. The round was led by Fuel Ventures, with participation from notable investors including Davie Rowe (Sixty Six & Black Green), Pierre Decote (Revolut & Golden Square), and Chris Adelsbach (Outrun Ventures). Alfa is developing an AI Recruiter Agent designed to automate administrative recruitment tasks, enabling hiring managers to focus on meaningful candidate interactions. Unlike traditional methods, Alfa's AI can screen and connect employers with top talent instantly while eliminating gender and racial bias, enhancing diversity and inclusion in hiring.
Co-founded by Alfie Whattam (CEO), Ed Godshaw (CTO), and Dr. Linda Yu, PhD (Chief Research Officer), Alfa aims to revolutionise the recruitment process by reducing inefficiencies, high costs, and candidate frustration. The AI Agent can conduct millions of calls in any language at a fraction of the cost of human recruiters. Mark Pearson, founder of Fuel Ventures, highlighted the urgent need for disruption in recruitment, praising Alfa’s technology for its potential to transform hiring. With this funding, Alfa plans to further develop its AI capabilities and scale its operations.
Luminance raises £59.52M Series C led by Point72 Private Investments
Luminance, the leading Legal AI platform, has raised £59.52M in a Series C funding round led by Point72 Private Investments, bringing its total funding over the past year to £91M. Other participants include Schroders, March Capital, National Grid Partners, and Slaughter and May. Luminance’s proprietary AI, developed by University of Cambridge experts, automates and enhances every stage of contract management, from generation to negotiation and post-execution analysis. Unlike competitors relying on general-purpose AI, Luminance’s AI is trained on over 150 million verified legal documents. The platform is used by over 700 organisations in 70+ countries, including major clients like AMD, Hitachi, Rolls-Royce, and Lamborghini.
The company has experienced rapid growth, with a fivefold increase in customers and a sixfold rise in annual recurring revenue in the last two years. To meet rising demand, Luminance expanded its headcount by 80% in 2024, opening new offices in San Francisco, Dallas, and Toronto. The investment will fuel further US expansion, AI advancements at its Cambridge R&D hub, and applications in procurement and compliance. CEO Eleanor Lightbody stated that the funding will solidify Luminance’s position as the leader in legal AI, while investors, including March Capital and Slaughter and May, highlighted its strong market position and ability to drive enterprise AI adoption.
Cambridge GaN Devices secures £25.4M to drive global growth in power semiconductor industry
Cambridge GaN Devices (CGD), a pioneer in gallium nitride (GaN) power devices, has secured £25.4M in a Series C funding round led by a strategic investor, with participation from British Patient Capital, Parkwalk, BGF, Cambridge Innovation Capital, Foresight Group, and IQ Capital. CGD’s proprietary ICeGaN® technology offers efficiency levels exceeding 99%, enabling energy savings of up to 50% in high-power applications such as electric vehicles and data centres. With the GaN power device market expected to grow at a 41% CAGR to $2B by 2029, CGD is positioned to capitalize on the increasing demand for energy-efficient alternatives to silicon-based solutions.
The funding will accelerate CGD’s global expansion across Cambridge, North America, Taiwan, and Europe, helping the company meet rising demand from industrial, data centre, and automotive markets. CGD has already secured key customers and will leverage this investment to scale production and strengthen its position as a leader in sustainable power electronics. Investors, including Parkwalk Advisors and British Patient Capital, highlighted CGD’s potential to transform industries such as AI and electric mobility by reducing energy consumption and environmental impact.
In other investment related news
Media agency MNC acquires Grwth to create One-Stop-Shop for challenger brands
MNC, a leading media agency known for building challenger brands, has acquired Grwth, a consultancy and venture fund focused on consumer brands, in a multi-million-pound deal. The merger creates a one-stop shop offering media, advisory, and venture funding, designed to support high-growth brands with proprietary market intelligence. The combined entity, retaining the MNC name, has a trading history of £50M+ in annual billings and will actively invest in scaleup brands through its venture fund. Grwth co-founders Jake Higgins and Joe Benn join MNC as partners, with CEO Luke Bristow leading the business alongside chairman Andrew McCutcheon and director Daniel Fisk.
The newly structured MNC will consist of three key divisions: MNC Media, a full-funnel media agency catering to challenger brands; MNC Ventures, an investment fund backing promising Seed and Series A consumer businesses; and MNC Club, an advisory service that connects brands with top creative and technical partners. The combined company already works with emerging brands like Beauty Pie, Wealthify, TALA, and GRIND. With a mission to be a thought leader in the challenger brand space, MNC aims to provide integrated media, strategic insights, and funding to businesses generating between £5M-£200M in revenue, enabling them to scale faster and compete more effectively.
In other international investment news
Spore.Bio raises $23M to industrialise bacteria detection technology
Spore.Bio, a French deeptech startup, has raised $23M in Series A funding led by Singular, with participation from Station F, Point 72 Ventures, LocalGlobe, and others. The company has developed a breakthrough bacteria detection system that provides real-time results, significantly reducing the risks of contamination in food, pharmaceutical, and cosmetics industries. Unlike traditional microbiological tests that take days, Spore.Bio’s AI-powered technology analyses bacterial spectral signatures within minutes, allowing for immediate action.
Following successful prototype validation in 2024, Spore.Bio is preparing for large-scale deployment, with contracts covering over 200 factories across Europe, Africa, and North America. The company is also expanding its team and exploring a U.S. office, given the rising number of product recalls in the region. With partnerships like the Pasteur Institute and the acquisition of competitor Greentropism, Spore.Bio is accelerating its mission to revolutionise quality control and prevent costly contamination scandals worldwide.
METYCLE raises €14M in Series A Round to expand AI-Powered platform for Global Metal Recycling
METYCLE, a digital platform for international secondary metal trade, has secured €14.1M in a Series A funding round led by 2150, with continued backing from DFF Ventures, Market One Capital, Partech, and Project A. The investment will accelerate METYCLE’s development of AI-powered sorting and data-driven solutions to improve efficiency and transparency in metal recycling. As demand for recycled metals rises due to global sustainability targets, METYCLE’s technology aims to optimise resource allocation, reduce carbon emissions, and transform end-of-life metals into highly specified global commodities.
Founded in 2022, METYCLE has grown rapidly, establishing itself as a managed marketplace that streamlines trading, quality control, logistics, and payments for recyclers and smelters worldwide. Its AI-driven sorting process enhances material recovery while minimising manual labour and environmental impact. Co-founder Rafael Suchan emphasised metal recycling’s role in carbon reduction, while 2150’s Rahul Parekh praised METYCLE’s leadership in driving a circular economy for industrial metals. The funding will support the expansion of METYCLE’s smart sorting hubs, trading network, and data analytics capabilities.
Scale Energy secures seed financing to build decentralised battery storage network in Europe
Scale Energy, Germany’s leading industrial battery storage developer, has secured €2M in seed funding led by Climentum Capital, with participation from Vireo Ventures, Antler, and P3A. The funding will expand Scale Energy’s operational footprint across Germany and accelerate the deployment of its battery storage projects. Additionally, a DACH-based infrastructure investor has committed capital expenditure for 100 MW of battery projects, reinforcing Scale Energy’s goal of building Europe’s largest decentralized energy storage network.
By leveraging existing grid connections rather than constructing expensive greenfield infrastructure, Scale Energy enables industrial customers to store energy, balance the grid, and shift electricity consumption to lower-cost periods. This approach enhances energy security, reduces CO₂ emissions, and helps industries meet sustainability targets. With a pipeline exceeding 500 MW across 100 industrial sites in Germany and Austria, Scale Energy is well-positioned to drive cost savings and grid stabilization, addressing Europe’s rising energy costs and transition to renewables.
