NexGen Cloud Secures £34.8m in Series A Funding
Deal News | Apr 11, 2025 | UK Tech Funding
This week's UK tech funding roundup includes significant investments in AI, fintech, and logistics, with NexGen Cloud leading the pack by securing £34.8 million in Series A funding. Based in London and founded in 2020, NexGen Cloud specializes in developing infrastructure for AI technologies. The fintech company Ryft, also headquartered in London, closed a £5.7 million Series A round. The round was backed by prominent investors including the British Business Bank, Pembroke VCT, The SidebySide Partnership, EdenBase, and GPOS Investments. Ryft, founded in 2021, offers businesses solutions for managing and monetizing payments at scale. Additionally, Edinburgh-based fleet management software provider Podfather raised £3.4 million through Growth Equity VC funding from Maven Capital Partners. Overall, the UK witnessed tech investments totaling £54.55 million this week across nine funding rounds, marking a 93% decrease from the previous week.
Sectors
- Artificial Intelligence
- Financial Technology (Fintech)
- Logistics
Geography
- United Kingdom – The companies mentioned in the article are headquartered in the UK, and the investment activities are focused within the UK tech scene.
Industry
- Artificial Intelligence – NexGen Cloud operates in this industry by providing infrastructure solutions tailored for AI technologies.
- Financial Technology (Fintech) – Ryft is contributing to this industry by offering payment management solutions that efficiently handle and monetize business transactions.
- Logistics – Podfather is enhancing this industry with software designed to optimize the routes of delivery fleets, thereby improving fleet management.
Financials
- £34.8m – The amount raised by NexGen Cloud in their Series A funding round.
- £5.7m – The amount raised by Ryft in their Series A funding round.
- £3.4m – The amount raised by Podfather in a Growth Equity VC funding round.
- £54.55m – Total UK tech investment tracked this week across nine funding rounds.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| NexGen Cloud | Target | Company | An AI infrastructure developer based in London, founded in 2020. |
| Ryft | Target | Company | A fintech company providing solutions for managing and monetizing business payments, based in London and founded in 2021. |
| Podfather | Target | Company | A logistics software company located in Edinburgh, founded in 2008. |
| British Business Bank | Investor | Company | A government-owned development bank responsible for economic development in the UK. |
| Pembroke VCT | Investor | Company | A venture capital trust that invests in businesses across multiple sectors. |
| The SidebySide Partnership | Investor | Company | An investment partnership firm focusing on growth capital. |
| EdenBase | Investor | Company | An investment platform supporting tech companies. |
| GPOS Investments | Investor | Company | Investment firm involved in funding tech-based projects. |
| Maven Capital Partners | Investor | Company | An investment group providing capital to growing businesses in the UK. |