Two small funding moves

TraqCheck raised an $8 million Series A, and Eka Ventures closed an £80 million second fund, putting fresh money behind hiring checks and rule-heavy startups. (tech.eu) (british-business-bank.co.uk) TraqCheck said on April 14 that it will use the round to expand in Europe and add more automation to recruiting and background screening. Tech.eu reported the round was led by IvyCap Ventures, with participation from IIFL. (tech.eu) The company started in 2020 and sells software that checks identity, education, employment history, and other hiring records for employers. Recent coverage said it now pitches a broader hiring workflow with artificial intelligence tools for sourcing, screening, and verification. (tech.eu) (techinasia.com) Eka Ventures announced the final close of Fund II at £80 million, or about $107 million, on April 13. The British Business Bank said it provided a £40 million cornerstone commitment, half the fund. (british-business-bank.co.uk) (thenextweb.com) Eka said the new vehicle will back UK-founded pre-seed and seed companies in healthcare, sustainable consumption, and wellbeing. The British Business Bank said the fund plans to invest in up to 30 companies and has already started deploying capital. (british-business-bank.co.uk) (uktech.news) Both moves sit in parts of the market where buyers care about proof, records, and compliance before they buy software. Background checks are a way for employers to confirm who a candidate is, and impact funds like Eka’s often target businesses built around health, sustainability, and regulated services. (tech.eu) (british-business-bank.co.uk) Eka’s backers included Better Society Capital, Guy’s & St Thomas’ Foundation, WRAP, Esmée Fairbairn Foundation, and The Health Foundation, according to the British Business Bank. The bank said the close brings Eka’s total assets under management to $200 million and makes it the UK’s largest early-stage impact venture capital firm focused on health, wellbeing, and sustainability. (british-business-bank.co.uk) TraqCheck’s raise is much smaller, but it targets a problem that large employers handle every day: checking whether a candidate’s records match what they claimed. Eka’s fund is larger and earlier-stage, but it is also aimed at businesses that have to work inside policy, procurement, and public-interest constraints from day one. (tech.eu) (esgtoday.com) The immediate next step is straightforward: TraqCheck has to turn its Europe push into contracts, and Eka has to put £80 million to work across roughly 30 UK startups. The money is small by late-stage standards, but both announcements point to investors still writing checks where trust and compliance are part of the product. (tech.eu) (british-business-bank.co.uk)