Founded by designer Junior Magalhães, the studio now counts Marfin Co. founder Ivan Cordeiro Junior as a partner and sells product design, brand and engineering to well-funded startups and global brands, with engagements from US$30,000 a month.
Illumion, a University of Cambridge spinout that builds imaging tools for battery research, has raised £1.7m. Foresight Group made a follow-on investment and ZEISS Ventures, the venture arm of the German optics group, joined as a new strategic backer. The round brings the company's disclosed equity funding to about £3.8m.
Lette, which builds AI agents for residential rental operators in the UK and Ireland, has raised $6.5m in seed funding led by Peak, with Heliad, Foreword VC, Pitchdrive, Adeline and angel investors including Intercom co-founder Des Traynor participating.
London-based AP Ventures has held a final close on AP Ventures Fund III LP at $300m (€269.6m), with 13 portfolio companies already backed since the fund's initial close in 2024.
Monzo has opened for customers in Spain with free personal, joint, under-18, business and savings accounts, each with a Spanish IBAN. The bank has about 80 staff in Barcelona and Madrid and 16 million customers worldwide, and Spain is its second EU market after Ireland.
Fractile, the London AI inference chip developer, has issued £577.4m of new Series C preferred shares since September, according to Companies House filings, with the top tranche priced at £1,452.35 a share. That price is 5.2 times what Series B investors paid five months ago and implies a value of about £3.84bn on the shares already in issue.
QuantrolOx, a University of Oxford spinout that makes control software for quantum computers, has raised a €12m Series A led by IW Capital. The European Innovation Council (EIC) Fund and Transpose Capital also invested.
Revolut has started offering UK personal loans of between £2,000 and £25,000, repayable over one to five years. It is the London fintech's first significant move into consumer credit since it received its full UK banking licence earlier this year, and it has 13m customers in the UK.
Quantexa, the London data and AI company last valued at $2.6bn, has signed a multi-million-pound, three-year contract with the Insolvency Service. It follows a £175m, 10-year agreement with HM Revenue and Customs in May.
Fuse, the London energy supplier valued at $5bn (£3.7bn), has launched Fuse Compute, with its first 128 Nvidia B300 GPUs due online in December and a plan to scale to 1,024 GPUs by the second quarter of 2027.
