Finance Friday: What businesses raised funding this week? November 20-24

A selection of some of the start-ups who announced successful funding rounds November 20-24 2017. Did we miss yours? Get in touch with us to feature

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Delivery start-up Deliveroo raises £74.3m – just two months after bagging £285m

Who: Delivery start-up Deliveroo
How much: £74.3m (on top of its £285m Series F September raise)
Who are the investors: Existing investors T. Rowe Price and Fidelity led the round, with DST Global, General Catalyst, Index Ventures, and Accel Partners also taking part
For what: Deliveroo will use the top-up to invest in pop-up shipping crate kitchens for restaurants and artificial intelligence tech
What they said:

Will Shu, CEO and founder of Deliveroo said:

“The next exciting phase of the UK restaurant industry will see more power being handed to the consumer, with restaurants better able to cater for consumers’ needs because they have richer data to work with.

“This investment will help to accelerate this process, bringing more people more choice, healthier options and new food. As our technology improves deliveries will become faster and our selection on offer will become more varied.”

Seedcamp toasts 10-year anniversary with first close of £41m seed fund

Who: European seed investor Seedcamp
How much: £41m seed fund
Who are the investors: N/A
For what: To invest in 100 start-ups across the UK and Europe
What they said:

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Reshma Sohoni, co-founder of Seecamp, said:

“Seedcamp continues to grow as Europe’s seed start-ups enter an unprecedented era of growth themselves.

“We believe our fund is a perfect size to support the most ambitious of founders both initially and now for a longer part of their journey, helping build a new group of not just $1Bn+ businesses but the $10Bn+ and $100Bn+.”

Zego, the insurance provider for delivery drivers, has raised £6m of Series A funding

Who: Pay-as-you-go insurance provider Zego 
How much: £6m of Series A
Who are the investors: Led by Balderton Capital but also included existing backer LocalGlobe and a range of angel investors from the insurance sector
For what: To hire more specialists for its engineering team
What they said:

Rob Moffat, partner at Balderton Capital, said:

“At Balderton we have been looking in depth at tech companies in insurance over the last few years. Zego really stood out with their innovative insurance products solving a major problem for drivers.”

On-demand coach service Zeelo raises £1.2m seed – backed by Tlf board member

Who: On-demand coach service Zeelo 
How much: £1.2m seed funding
Who are the investors: InMotion Ventures – Jaguar Land Rover’s mobility venture arm
For what: To expand into European markets
What they said:

Sam Ryan, co-founder of Zeelo, said:

“Now it’s about scaling up fast and showing exactly what Zeelo technology can do.

“Our platform allows specific communities to book seats on our data driven routes, whilst we’ll also cater for groups who want to go from A to B in a cost effective and hassle free manner. We need to remodel an £1.8bn industry that’s remained unchanged for far too long.”

Geektastic raises £230,000 seed funding to help companies hire tech talent

Who: Tech recruitment start-up Geektastic
How much: £230,000 in seed funding
Who are the investors: A range of angel investors.
For what: To help launch the business
What they said:

Rick Brownlow, co-founder of Geektastic, said:

“Coding challenges are now a vital part of the recruitment process, but the current model is failing developers and employers.

“Most software developers dislike undertaking automated tech screens because they realise they cannot properly evaluate their broad spectrum of skills.

“Candidates tell us they enjoy our challenges and they appreciate the performance feedback which is so lacking in machine based systems.

“In addition, the high standards we set are respected by leading employers.”

Energy and water research firm Cornwall Insight backed by BGF in private deal

Who: Cornwall Insight
How much: Undisclosed 
Who are the investors: BGF alongside a term loan facility from Barclays
For what: The Norwich-headquartered company will use the funding to open an office in Dublin
What they said:

Gareth Miller, CEO of Cornwall Insight, said:

“Cornwall Insight delivers knowledge and intelligence to our customers so that they can succeed in complex and rapidly changing markets.

“That’s been the basis of our strong growth and success and we see plenty of opportunity to grow and expand that model into new areas of service and new markets.

“BGF’s long-term approach to investing fits with our plans and aspirations as a business, and we are looking forward to the next stage of growth with BGF as our partner.”

Online property portal Movem raises £400,960 on crowdcube

Who: Movem – an “Airbnb for residential tenancies”
How much: £400,960 (target of £300,000)
How many investors: 434 in exchange for 14.32% equity
For what: Funds will be used to continue the development of the digital rental profile, as well as to scale the platform, and build further functionality that users have been requesting
What they said:

Via Movem’s crowdfunding page:

“We aim to be revenue generating before the end of 2017, and within a year we are targeting to be referencing 2500 new tenants per month. We believe that there is a realistic opportunity to exit within two-four years.”