Venture Capital/News/ Remember the Future Fund? Here’s where the UK government’s money went A list of the 158 startups backed by the government, via the Future Fund. By Amy Lewin 14 September 2021 London-based startup Spill London-based startup Spill \Venture Capital Speedinvest starts €3m fund of funds programme to back emerging managers By Eleanor Warnock 17 February 2023 Venture Capital/News/ Remember the Future Fund? Here’s where the UK government’s money went A list of the 158 startups backed by the government, via the Future Fund. By Amy Lewin 14 September 2021 When UK chancellor Rishi Sunak announced that the UK government would be investing in Covid-struck startups via a new fund, the Future Fund, he started a big debate. Some thought the government shouldn’t be investing in startups at all. Others weren’t convinced that the government should be investing in the kind of startup struggling to raise last summer. And some criticised the fund for failing to cater to the needs of diverse and regional founders. Now, 15 months on, the British Business Bank has finally released a list of 158 startups in which the Future Fund holds an equity stake so far. In total, the Future Fund issued 1,190 companies with convertible loan notes totalling £1.14bn. The startups listed below are just those which had successfully raised further funding rounds by August 31. We highlight 11 of the businesses backed by the government, followed by the full list. 11 notable names backed by the Future Fund Onboard a Zeelo commuter bus (pre-Covid!) Zeelo Green transport is in the spotlight — and London-based Zeelo is hoping it stays there. It runs electric commuter bus services for customers who would otherwise rely on their cars to get them to work or school. In August it raised a $12m funding round, led by ETF Partners, with participation from InMotion Ventures. Vaccitech Founded by now world-famous scientists Sarah Gilbert and Adrian Hill in 2016, Vaccitech developed the technology used to create the AstraZeneca Covid vaccine. In March this year it raised a $168m Series B, and in April this year, the Oxford-based startup debuted on Nasdaq. Snoop Norwich-based money saving mobile app Snoop flags when customers are spending more money than they need to on bills, and identifies opportunities for them to save money too. It was founded in 2019 and raised a £15m Series A funding round in July. Tickr / CIRCA5000 Green investment app Tickr, which recently rebranded to CIRCA5000, allows users to invest in impact-oriented companies and offset their carbon emissions via its mobile app. The Liverpool-based company raised £2.5m in February, in a round led by Ada Ventures. And it’s one to watch, say investors. Spill It’s boom time for mental health apps, and London-based Spill is picking up plenty of customers as a result. Its app makes it easy for employees to figure out if they need — and if so, book — therapy sessions. It’s used by companies like Bulb, Typeform, Depop and Citymapper and in January raised a £2m seed round. In this opinion piece, founder Calvin Benton shares how to prevent and cure burnout in your team. Motorway Used cars are big business — in the UK alone, it’s a £60bn market — and investors are taking note. In June, London-based Motorway raised £48m in June in a round led by Index Ventures. It operates a marketplace where car owners can upload their vehicles and car dealers can bid at a daily auction, and was selling around 4k cars each month in the summer. Monese Digital banking app Monese was looking to raise a funding round, which would value it at £1bn, just before the pandemic struck. Its inclusion on the Future Fund list confirms that it has raised since then — but hasn’t yet announced how much. Kano Computing Kids computer kit startup Kano, founded by Alex Klein, nephew of well-known VC Saul Klein, hasn’t turned into quite the rocketship investors hoped for. It raised a $28m Series B in 2017 — and then things went quiet. It reportedly lost $13.7m in 2019, and its last announced funding was a $1m cheque from Microsoft in July 2020. Funderbeam CEO and founder Kaidi Ruusalepp Funderbeam London-based Funderbeam is bringing much-desired liquidity to startup employees and early-stage investors in Europe. It allows them to trade their shares on its marketplace, and helps startups raise money too. It raised a €3.3m round in April led by Tim Draper. Cervest Cervest, one of Sifted’s 100 sustainability startups to watch, uses AI to analyse data on ‘climate risk’ — like weather events. That helps its customers, which include corporates and governments, manage and adapt to that risk. The London-based startup was founded in 2016 and raised a $30m Series A in May led by Draper Esprit. Beamery Recruitment software startup Beamery helps companies source, hire and retain people. It reportedly hit a valuation of around $800m when it raised a $138m funding round in June, led by the Ontario Teachers’ Pension Plan Board. The full list Company Location 1854 Media Limited East of England 3Radical Limited South West Additive Manufacturing Technologies Ltd Yorkshire and the Humber Aeristech Limited West Midlands Ai Exchange Ltd London Airfinity Limited London Altitude Angel Ltd South East Arc Group Global Ltd London Arksen Limited South East Balre Technologies Ltd London Beamery Inc London Better Tasting Drinks Co. Limited East Midlands Bivictrix Therapeutics Limited Wales Blu Wireless Technology Limited South West Bockatech Ltd East of England Boxwize Ltd London Ceed Ltd London Century-Tech Limited London Cervest Limited London Cherryz Ltd London Chip Financial Ltd London Cipher Surgical Limited Scotland Cirdan Imaging Limited Northern Ireland Cloud 8 Limited South West Clyz Labs Limited North West Cognitive Credit Limited London Concured Limited London Content Calendr Limited London Corrosion Radar Limited South East Counting Ltd London Credit Laser Holdings Limited London Crikle Business Platforms Limited London Dice FM Ltd London Digital Home Visits Ltd London Digital Reality Corp Ltd London Dragonfly Biosciences Limited London DueDil Limited London Edge Petrol Limited London Elite Crowdfunding Limited London Engage Technology Partners Limited South East Executives Place Limited London Fairscore Ltd London Footballnet (Global) Limited London Funderbeam LTD. London Gearbox Records Ltd London Gelmetix Limited North West Gendius Limited North West Global Property Ventures Limited East of England Gobsmack Holdings Limited East of England Gunna Drinks Limited South East Gyrogear Limited South East Helio Display Materials Limited London Hydro Industries Limited London Imagine Mortgages Limited London Infinitesima Limited South East Inotec Amd Limited East of England Invest and Fund Limited South East Jacuna Ltd London JAJA Finance Holding (UK) Limited London Juggle JOBS Ltd South East Juno Legal Holdings Limited London Kano Computing Limited London Karus Therapeutics Limited South East Kets Quantum Security Ltd South West Kroo Ltd London Leucid Bio Ltd East of England LGN Innovations Limited Wales Life In The Cocoon Limited London Locate Bio Limited East Midlands Lovecrafts Group Limited London Maxwellia Ltd North West Medherant Limited West Midlands Mindtech Global Limited Yorkshire and the Humber Mindtrace Limited North West Misfits Health Ltd London Molo Tech Ltd London Mom Incubators LTD. East Midlands Monese Ltd London Monolith Ai Limited London Motorway Online Ltd London Mysense Group Ltd London Nell Health Ltd London Nerre Therapeutics Holdings Limited East of England Nova Pangaea (Holdings) Ltd North East Novatiq Limited East of England Occuity Ltd West Midlands Odondo Limited London Oneskee Limited East Midlands Online Giving Ltd London Origami Energy Limited East of England Oto International Limited London Oxular Limited South East Passfort Limited London Pay Later Group Limited London Penfold Technology Ltd London Peratech Holdco Ltd North East Perceptual Robotics Limited South West Phaim Pharma Ltd London Phoenix Product Development Limited London Plu&M Limited London Pollen + Grace Limited London Power Roll Limited North East Prodigy Investments Limited London Project Imagine Ltd London Prokarium Holdings Ltd London Proportunity Ltd London Pulsiv Solar Limited East of England Pycom Ltd South East Quanta Dialysis Technologies Limited West Midlands Raffolux Ltd East of England Reactive Technologies Limited South East Real VR Limited London Reallyenglish.Com Limited London Rente Limited West Midlands Rezolve Limited London Ripple Energy Limited London Riversimple Holding Limited Wales Rlt International Limited South East Robin Ai Limited London Scoodle Ltd London Secret Group Limited London Secret Spa (London) Ltd London Shieldpay Ltd North West Signal Media Limited London Sine Wave Entertainment Limited London Skinny Tonic Limited North West Smart Pension Limited London Sort Holdings Ltd London Spill App Ltd London Sport Maison Limited London Spring Financial Group Limited South East Spybiotech Limited South East Startpulsing Limited London Synapse Information Limited West Midlands The London Interdisciplinary School Ltd London The Shackleton Design and Manufacturing Company Ltd East of England Theolytics Ltd South East Tickr Ltd London Tifosy Limited London Ultraleap Holdings Limited South West Underpinned Ltd London Unwasted Limited London Usnoop Limited London Vaccitech Limited South East Vaix Limited London Volt Technologies Ltd London Voxpopme Limited West Midlands Warwick Acoustics Limited West Midlands Watkins Drinks Limited East Midlands Wildanet Limited South West Yanchep Holdings Limited London Yellow Line Parking Ltd London Yordex Ltd London Yuchelka Ltd London Zeelo Limited London Zelp Ltd London zero carbon food ltd London ZOKU Ltd West Midlands Amy Lewin is Sifted’s deputy editor. She covers VC, foodtech and diversity in tech, and tweets from @amyrlewin. Related Articles All the new first-time European VC funds of 2022 By Amy Lewin and Sadia Nowshin Click here to read more Partech closes $100m seed fund to invest in a post-Covid future By Marie Mawad in Paris Click here to read more Atomico launches second angel programme By Amy Lewin Click here to read more Brunch with Sifted: startup community mastermind Daisy Onubogu By Miriam Partington in Berlin Click here to read more Most Read 1 \Healthtech Is Daniel Ek’s new body scanner worth the hype? Sifted tried it out 2 \Venture Capital VC diversity needs to change — and white men need to take responsibility 3 \Venture Capital New €3.75bn European Investment Fund pot to back late-stage VCs 4 \Sustainability Counteract closes £15m fund for carbon removal solutions 5 \Mobility Was the $5bn that VCs plugged into escooters worth it?