On The Rise: Startups That Received Funding In October 2023

Ai Build

Meet Ai Build, a pioneering player in the additive manufacturing industry, proudly served by Capsule. Based in London, it has developed an innovative cloud-based solution that cuts costs, slashes production time, and limits waste for manufacturers. With a focus on creating specialist tools for aerospace, automotive, and energy companies, it has already collaborated with industry leaders like Boeing. Last month, the team announced an $8.5 million funding round led by IQ Capital. The funds will drive their product development, establish a subsidiary across the pond, and expand their presence in Europe.

AstronauTx

Founded at University College London in 2019 by Ruth McKernan and David Reynolds, AstronauTx is a forward-thinking biotech specialising in research for neurodegenerative disorders. Its core mission is to use the brain’s natural defence mechanisms to create groundbreaking treatments for Alzheimer’s and related diseases. In October, the startup reached a major milestone: securing £48 million in Series A funding, allowing it to advance various programmes and take its lead molecule into clinical trials. While AstronauTx’s first products aren’t expected to become available until the 2030s, it’s already poised to have a significant impact on the healthcare industry.

Automata

Next up is Automata, a robotics and automation startup that’s emerged as a transformative force within the life sciences sector. This medtech is on a mission to redefine the way laboratories operate. In July, it embarked on a partnership with an NHS trust, employing robots with the vital task of conducting cancer testing. Further exemplifying its rise to success, Automata raised a remarkable $40 million in funding in October. This follows a $50 million Series B led by Octopus Ventures in 2022. The injection of funds will accelerate its expansion both in the United States and across Europe, the Middle East, and Africa.

Globacap

Globacap stands at the forefront of revolutionising the world’s private capital markets. With a steadfast commitment to innovation, this visionary fintech is creating software solutions tailored for financial institutions – automating processes such as issuance and the transfer and settlement of securities. In October, Globacap completed a $21 million Series B funding round. The new resources are set to fuel the company’s ambitious growth plans, both on domestic and international levels.

Laka

Capsule client Laka has set out to transform the way e-bike riders, cycling enthusiasts, and businesses protect their passion and assets. Recently, it acquired Cylantro – a French e-bike insurance broker – adding to its existing partnership with Decathlon. Laka also attracted €7.6 million in funding in October led by French mobility fund Shift4Good. It plans to channel the money into empowering customers to switch to more environmentally friendly modes of transportation.

Lopay

Lopay is the innovative payment app empowering small businesses to accept card payments from their customers at a fraction of the cost charged by corporate payment giants such as PayPal and SumUp, to name a few. With a commitment to cost-effective solutions, Lopay estimates that its competitive pricing model has already saved merchants over £1 million in aggregate fees since its launch. Backed by a £6 million October seed funding round, Lopay is currently looking to process an impressive £500 million in payments in the coming year – all while pursuing international expansion.

Lottie

Lottie visionaries Chris and Will Donnelly founded their revolutionary healthtech after struggling to find a care home for a loved one. The elderly healthcare marketplace that they created is a beacon for families and retirees across the UK – helping them seek out the best care homes and retirement living communities available to them. With over 4,000 care and retirement providers signed up to its platform, Capsule client Lottie has earned the trust of 500,000 monthly users who rely on their guidance and support. In October, it closed a $21 million Series A funding round led by Accel. These fresh funds will enable it to double its headcount to more than 100 next year.

Move AI

Move AI is leveraging the power of artificial intelligence and cutting-edge computer vision techniques to bring a revolutionary smartphone app to life. The app itself converts ordinary 2D videos into extraordinary 3D motion-capture models. With a laser-focussed mission, Move AI is truly changing the game for creative minds in the entertainment industry. Last month, it secured the backing of Play Ventures in a seed funding round that raised $10 million in total. The team plans to use this new capital to support their efforts to “democratise 3D animation” by reducing the cost and ultimately making the art form more accessible to creators.

Myenergi

Led by Jordan Brompton and Lee Sutton from its Grimsby headquarters, Myenergi is the green technology firm behind the popular Zappi electric vehicle charger. With a vision firmly rooted in sustainability and eco-consciousness, Myenergi has made significant strides in the clean energy sector. Notably, in April this year, the company received £30 million from HSBC. More recently, its commitment to a greener future was further underlined by an additional £30 million in funding from New York-based venture fund, Energy Impact Partners. The cleantech plans to expand into international markets while supporting new product development.

Spotted Zebra

Spotted Zebra is the HR tech startup making it easier for big companies to manage their employees. Its advanced platform helps corporations identify skills gaps in their workforce and come up with smart solutions – like hiring new talent, planning for future leaders, and helping current employees learn new skills. Led by Nauta Capital, its October Series A funding round generated an impressive £7.7 million. Playfair Capital and Entrepreneur First were also among the key investors – all contributing to Spotted Zebra’s plans to expand its platform to different markets, bring in new talent, and enhance its product suite.

Unitary

You might recall this next feature from our AI Startups To Watch In 2023 round-up. Unitary’s software uses machine learning to discern potentially harmful content in photos and videos, eliminating the need for human moderators. Spearheaded by CEO Sasha Haco, Unitary aspires to foster a safer and more enjoyable digital experience for everyone. In line with our July prediction, Unitary’s journey has continued to reach new heights – with a staggering October $15 million Series A funding round shortly after it secured $8 million additional seed funding in March. Global expansion is on the horizon for this AI trailblazer, with the company launching across multiple languages and tripling its classification capacity to six million videos a day.

Untangled.Finance

Untangled, a fintech launched in 2020 and co-founded by Quan Le and Manrui Tang, is reshaping finance by connecting traditional assets to blockchain technology. It turns real-life assets – like SME loans – into debt notes that anyone can buy. It also accepts both regular and digital forms of payment, making their platform accessible to all kinds of investors. Untangled has big plans to grow in the blockchain realm. It’s gearing up to join the Celo, Polygon, and Ethereum blockchains – making their groundbreaking ideas available worldwide. These plans are supported by the brand’s latest $13.5 million investment led by Fasanara Capital, which it’ll use to improve its products, continue to grow, and develop a solid community.

Start strong and stay secure with Capsule

For many of these startups, their journey has only just begun. Ready to supercharge your own? Capsule is here to protect it. Whether you’re developing groundbreaking technology, bringing on new team members, seeking investment, or launching overseas, we’ll shield you against any potential threats along the way so you can keep progressing.

Get in touch to discuss how we can support your vision.