London’s funding taps stayed open through the back half of June, with applied AI driving most of the biggest cheques. Here are five raises from the last few weeks and what each one signals for founders.
PhysicsX raises £225m to scale its AI simulation platform
London-based PhysicsX closed a £225m Series C led by Temasek, M&G Investments and Intrepid Growth Partners. The company builds an AI-native physics simulation platform that predicts how engineered parts behave in seconds rather than hours, aimed at advanced manufacturing. A raise of this size is an anchor for the city’s deep-tech scene, pulling in talent and follow-on capital. Details via UKTN.
Conduct lands £44.7m Series A for taming legacy code
Conduct, founded only this year, raised £44.7m in a Series A led by Index Ventures and ICONIQ, with SAP and Creandum joining. Its system maps and manages the tangle of legacy custom code and integrations inside large companies. A round this big for a months-old team shows the premium investors place on enterprise AI tooling, and resets the benchmark for what an AI-native startup can command. More on UKTN.
Frontier Health raises £12m to forecast NHS capacity
Frontier Health, based in London, raised £12m in a seed round led by Atomico, firstminute capital and XYZ. Its AI tool is used across NHS trusts to forecast clinical capacity and cut administrative work. The deal underlines that health AI selling into the NHS is a fundable category, helped by government pressure to put AI to work in public services. Read more on UKTN.
Partly drives off with a £38m Series B
Partly raised £38m in a Series B led by DST Global Partners to build AI infrastructure for the automotive parts and repair supply chain. A marquee growth investor backing a vertical, unglamorous supply-chain play is a useful reminder for founders that infrastructure, not just consumer apps, attracts serious money. See the round on UKTN.
Isometric secures £30m for carbon-removal verification
Isometric raised £30m in a Series A led by AVP, with Lowercarbon Capital and Plural taking part, for its automated carbon-removal certification platform. The deal shows climate infrastructure remains fundable even in a tougher market, a timing signal for London climate founders weighing a raise. More via UKTN.
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