London’s tech scene is thriving with companies across various sectors fueling growth after new funding rounds. October saw biotech innovators, financial service providers and more fill their coffers with abundant new capital. Learn how these companies are investing the city’s largest tech venture capital sums raised last month.
Top London Tech Funding Rounds, October 2024
- Zepz
- Purespring Therapeutics
- Dexory
- Zilch
- Basecamp Research
#5. £46.5 million, October 9
Basecamp Research operates an artificial intelligence platform trained on its proprietary data set to design biological solutions. The company secured a $60 million funding round, equal to around £46.5 million, led by Singular. Its Series B funding will enable it to scale the pace and volume of its data collection. Basecamp will also further its AI capabilities by investing in compute and developing new foundational models.
#4. £50 million, October 27
Fintech payment company Zilch expanded it securitization facility by an additional £50 million, with major support from Deutsche Bank. The company operates a direct-to-consumer, ad-subsidized payments network and offers a fee-free card solution for retail spending. Its new capital enables Zilch to maintain its growth trajectory and support £10 billion in annual commerce on its platform.
#4. £62 million, October 1
Robotics company Dexory develops warehouse optimization solutions that leverage data intelligence to help businesses solve challenges across their supply chains. The company pulled in a Series B funding round equal to $80 million from lead investor DTCP. It plans to invest the debt and equity capital in expanding its AI features, hiring new talent and deploying its autonomous robots.
#3. £81 million, October 9
Purespring Therapeutics specializes in creating gene therapy solutions for kidney diseases. Backed by $105 million in Series B funding, the company will further its pipeline and initiate a clinical trial for its program for IgA nephropathy, a disease predominantly affecting young adults. Sofinnova Partners led the capital raise.
#1. £207M million, October 7
Series F funding from lead investor Accel allows remittance technology company Zepz to accelerate its growth. Its mobile app WorldRemit lets users send money to more than 130 countries across the globe. Users can also track payments and view their transaction history. Backed by $267 million in new capital, the company will further its goal of serving the financial needs of migrants worldwide.
