This week’s UK tech funding highlighted significant investments across various sectors, reflecting the dynamic landscape of innovation.
- AI processor developer Oriole Networks received notable investment to propel its photonics technology.
- Genie AI secured funding to advance its automated legal contract drafting platform.
- The navigation tool Where You At attracted investor attention for improving venue safety.
- Overall, the UK tech sector saw £37.4m in investments amidst a slow funding week.
This week, UK tech investment witnessed key developments, spotlighting innovative projects and strategic investments. A total of £37.4 million was raised across various tech sectors, marking notable progress despite a generally slow week for funding.
Oriole Networks, a company founded in 2023 and based in London, focuses on enhancing AI processing capabilities by employing photonics technology. The company successfully attracted Series A funding from Plural, aimed at integrating and enhancing processing power through the combination of multiple AI chips.
In the legal tech sector, Genie AI, established in 2017 and headquartered in London, secured Series A funding from prominent investors Google Ventures and Khosla Ventures. This platform is set to revolutionise legal contract drafting by automating cumbersome processes, significantly reducing the workload for legal professionals.
Where You At, a navigation tool designed to enhance safety in crowded nightlife venues, also gained traction with investors. The tool, originating in 2020 in London, received seed funding from Tony Mallin, highlighting the growing emphasis on safety tech solutions in the hospitality industry.
These developments underscore a continuing trend where UK startups draw significant interest and financial backing from both local and global investors.
This week’s funding activities illustrate the resilience and continued innovation in the UK tech industry, paving the way for future advancements.
