Finance, fintechs, male sexual well-being, and biomarkers in this week’s Maddymoney

Men’s sexual health start-up raises £ 3.25million

Mojo, the men’s sexual wellness app, has raised £ 3.25million in a seed funding round. The London-based startup aims to provide a drug-free approach to men’s sexual health, combining psychology and technology to address common issues faced by men across the UK, such as erectile dysfunction and premature ejaculation.

The round has been led by Kindred Capital and Octopus Ventures, alongside other angel investors, and will be used to drive growth. The app now has nearly 50,000 users in more than 35 countries.

Kamran Adle of Octopus Ventures said the taboo areas of sexual well-being are an area of ​​growing interest for them.

“There is often a strong latent demand due to decades of underinvestment,” he said. “Men’s sexual health is a prime example of this, creating a huge opportunity for Mojo to challenge the stigma and move beyond the pills to a much larger, sustainable and scalable solution.”

Waste management startup raises £ 3.5million to improve digital technology

London-based startup Recycleye, which uses digital tools to monitor waste management, has raised £ 3.5million. Founded in 2019, the startup uses AI, robotics and machine learning to identify the value and types of recycled waste. This helps recycling facilities understand the resale value of the waste they manage.

The round was led by Promus Ventures, as well as Playfair Capital, MMC Ventures, Atypical Ventures and Creator Fund, and will be used to improve the accuracy of digital technology.

CEO Victor Dewulf said: “Waste is not recycled when the cost of recycling exceeds the value of the sorted material. By reducing the cost of recycling through artificial intelligence and robotics, we are crossing that threshold and building a world where our disposal chains are fully reintegrated into our supply chains.

Fuel Ventures invests £ 2million in Beyonk experience booking platform

Fuel Ventures has invested £ 2million in London-based start-up Beyonk. The platform provides booking and marketing platforms for local events and experiences. It attracts tourism businesses, festivals, tours, and third-party resellers who can use Beyonk’s booking tools to share events and tickets.

The startup is also working with tourism giants, including the National Parks and Ordnance Survey, to help their large clientele find local experiences. The funding will be used to stimulate expansion in the tourism and leisure market and develop more effective tools for building customer relationships.

Co-founder Oscar White said, “The latest research shows that 67% of global consumers prefer to spend money on experiences rather than things, but the market is very inefficient and behind with inefficient and clunky tools. Beyonk has created a platform that enables experience providers to excel online and minimize administration and by working with major tourism platforms we are able to add more value to businesses for help attract visitors as well.

Fintech secures over £ 500million for cross-border student loans

Prodigy Finance, which provides cross-border loans to international postgraduate students, has secured £ 547.4million from CPP Investments to meet growing demand from international students. With student loan applications from international students up 50% year over year, the funding means fintech will now be able to provide student loans from a number of regions that were previously excluded, including China, Australia, Bangladesh, South Korea and Spain. and Chile.

FinTech has so far funded more than 20,000 students from over 100 countries with $ 1 billion in postgraduate loans.

Joel Frisch, Head of Global Acquisitions at Prodigy Finance, said: “We have always believed that talent is borderless and finance should be too, so we are delighted that we can now support students from all these additional countries. . In total, we can now help students from over 120 countries around the world and want to continue to be a leader in helping global talent reach their true potential.

European health tech raises £ 2million to advance clinically validated home testing

European healthcare tech Sanome has raised £ 2million in a round led by major healthcare tech investors including Heal Capital, Crista Galli Ventures and Selvedge Ventures, alongside other angel investors .

The startup has developed a diagnostic innovation engine that combines biomarkers to more effectively develop medical-grade home diagnostic products. The funding will be used to expand the team to London and Cambridge and to develop business partnerships.

CEO and Co-Founder Benedikt von Thüngen said: “Healthcare affects all of us and the recent pandemic has highlighted this globally. It has shown the need to bring healthcare closer to people’s homes and that we need to take advantage of many recent innovations in digital health and consumer biotechnology to capture as many human health data points as possible.

Heydoc raises £ 6.1million to accelerate growth and international expansion

Heydoc, an integrated clinical operating system and electronic health record (EHR), has completed a £ 6.1million Series A cycle led by Capital Smedvig. It will be used to continue its expansion in the UK healthcare market, expand internationally and grow the team. The cycle, in which existing investors have also participated, will also be used to expand the startup’s product offering and its mission to improve healthcare by equipping clinical teams with a full operating system.

Christoph Lippuner, co-founder and CEO of Heydoc, said: “We are very happy to have Smedvig Capital as a partner in this new chapter of our adventure. This further increase will help us accelerate our growth in the UK, focus on our product and expand its capabilities, as well as tackle international markets. “

Handbag Clinic Secures £ 800,000 Investment to Drive Growth

Handbag Clinic, which sells luxury handbags to customers around the world, has raised £ 800,000 from the North East Venture Fund. The funding will be used to create 20 new jobs at its Burnopfield, Durham facility. It will also be used to develop the company’s technology and strengthen its management team.

Along with the funding, the company appointed former Claire’s Accessories CEO Beatrice LaFon as president and Ian Griffiths, founder of WhoCanFixMyCar.com as a digital strategy consultant to help drive its e-commerce sales. The startup is currently working with Durham University to adapt facial recognition technology to authenticate handbags and assess their condition and value.

Jan Oosthuizen from Mercia, who worked on the deal, said: “With sustainability now a central concern for many consumers, the clothing resale market has experienced unprecedented growth. in recent years. Handbag Clinic is one of the market leaders.

In other international news

Mirakl, the Mirakl SaaS platform, the market’s first and most advanced for enterprises, today announced the closing of a £ 401 million funding round. The platform is currently used by major e-commerce brands, including FeelUnique, H&M Home, and Decathalon.

The funding round, which was led by Silver Lake, alongside existing investors 83North, Elaia Partners, Felix Capital and Permira, will be used to invest in technology and grow the team.

Christian Lucas, Managing Director and Co-Head of Silver Lake, said: “This is an extraordinary time for e-commerce, and we see Mirakl as a generational company with a unique and compelling opportunity to capitalize on this momentum. “

Frontify Raises $ 50 Million in Woman-Led Series C Funding Founded Revaia

Frontify, a brand management software provider, has raised an additional $ 50 million in Series C funding led by Revaia, alongside High Sage Ventures and existing investors EQT Ventures, Flower capital, and Tenderloin Ventures.

The funding will be used to accelerate the company’s growth and hire new talent to support the existing team of more than 200 employees across the United States and Switzerland. Frontify founder and CEO Roger Dudler said this expansion was a particular priority.

“We have laid the groundwork to revolutionize the way people contribute and work with their brands across a wide range of industries, brand sizes, locations and needs. There is still so much to accomplish, but we cannot do it alone, ”he admitted. “Expanding our teams with the best and brightest in the world, finding partners who align with our beliefs and perspectives, and taking our software to even higher heights – these are just some of the key points to us now. “