This week’s UK tech funding deals include semiconductor developer OLIX, AI legal assistant Wordsmith and more.
UKTN tracked £257.8m worth of UK tech investment this week (3 August to 7 August), a 25% week-on-week increase across three funding rounds.
Here’s your weekly roundup of UK tech startup funding deals.
OLIX – £231.8m
Sector: Semiconductors
HQ: London
Round: Series B
Investors: Fundomo, Arm, Hudson River Trading, Hummingbird Ventures, Crane, Plural, Creandum, Phoenix Court, Transition and the UK Sovereign AI Venture Fund
Founded in 2024, OLIX develops specialised silicon platforms and custom hardware accelerators designed to overcome compute efficiency bottlenecks in AI inference.
Advanced Electric Machines – £16m
Sector: Deep Tech
HQ: Washington, Tyne and Wear
Round: Growth
Investors: Barclays Climate Ventures, PXN Ventures, Northstar Ventures, Low Carbon Innovation Fund and Innovate UK
Founded in 2017, Advanced Electric Machines manufactures rare-earth and magnet-free electric motors to eliminate supply-chain vulnerabilities for commercial and industrial vehicles.
Wordsmith – £10m
Sector: Legal tech / AI
HQ: Edinburgh
Round: Series B Extension
Investors: Intact Private Capital, FT Ventures, Highland Europe and Index Ventures
Founded in 2023, Wordsmith AI has built an AI-native operating platform for in-house legal departments to automate routine intake, contract review, and corporate legal workflows.
