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Cambridge Innovation Capital raises £75m, Elevator Pitch LIVE deadline extended & more in the Week in Tech

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Welcome to your Week in Tech – a roundup of the week’s top technology news.

In this episode, we bring you Cambridge Innovation Capital’s £75m funding announcement, the reopening of our Elevator Pitch LIVE application and an app that allows you to send personalised postcards worldwide.

Watch the video, or read on for all this and more.

Gallery: Photos from the Elevator Pitch LIVE 2016 awards

Investments

Crowd Connected, a location intelligence technology company, has announced the closure of an undisclosed seed funding round. This brings the Surrey-based firm’s total raised to over $1m.

Tech startup mOm has received £630,000 in seed funding in a round led by MahSah Partners. The firm, which seeks to develop a lifesaving infant incubator, also drew support from Holly Branson, The London Co Investment Fund and other investors.

LoopUp has floated on AIM, a sub-market of the London Stock Exchange, bringing its valuation to £40.8m. The London-based firm provides a SaaS conference solution for remote meetings.

Best of British

Cambridge Innovation Capital, also known as CIC, has raised £75m to invest in UK technology startups. Founded in 2013 with an initial £50m, the fund has already invested £33m across 13 companies, including Jukedeck, Pragmatic and Storm Therapeutics.

TCN news

This week, we reopened the application process for our tech startup competition – Elevator Pitch LIVE. We’re on the hunt for the best UK startups in HealthTech, FinTech, AdTech/MarTech, PropTech and Cybersecurity. If you’re making waves in any of these areas, head to our website now to apply. Winners will join the Tech City News production team to film a professional pitch video. They’ll also gain exposure to investors, the media and potential customers.

International story

China has announced its mission to explore Mars. The country has released pictures of the rover it will send to explore the planet’s surface for three months. First off, a spacecraft will be sent to orbit the Red Planet and make a landing, before deploying the rover in July or August 2020. The country has been investing heavily in its space programme in an attempt to catch up with the likes of Europe and the US.

Download of the week

Our download of the week is Touchnote. Available on iOS and Android, the app allows users to upload their own photos and turn them into real postcards. Founded in London, Touchnote has so far sent 6 million personalised postcards worldwide.

And Finally…

And finally, have you got cash to burn? If so, London-based app Burn Money will let you pay between $1 and $100, to have a digital replica of your cash burned online. The burning cash can then be shared on social media.

Quite why you’d want to do this, I don’t know, but the app has already brought in £2m in funding. Whether they’ll use the funding to further the project or simply burn it, I’m not sure.

That’s it for this episode of The Week in Tech, for more of the latest UK technology news, follow us on Twitter and head over to Elevator Pitch LIVE for more information on the competition.

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