Isomorphic Labs, a spinout of Google DeepMind developing AI drug discovery technology, has raised $600m (£464.6m) in its first external funding round since its formation in 2021. The company is the latest venture from Sir Demis Hassabis, the Nobel Prize-winning co-founder and CEO of DeepMind and UK government AI advisor. Hassabis launched Isomorphic from within ... Read more ›
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Innovate Finance, the industry body for British fintechs, has called for an anti-fraud strategy that would force social media and telco firms to share liability with payment providers in reimbursing fraud, echoing calls from the sector. The group said social media platforms like Facebook as well as calls and texts managed by telco groups should ... Read more ›
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A new government scheme to ensure UK AI advancements meet sustainability requirements, will meet for the first time on Tuesday. The AI Energy Council, co-chaired by Tech Secretary Peter Kyle and Energy Secretary Ed Miliband, has been tasked with tackling the environmental issues surrounding the intense energy and water demands of AI technology. Council members ... Read more ›
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The gender pay gap in technology firms has narrowed to a new low in the past year, research by UKTN has found, as industry bosses continue to pursue policies to equalise gender pay despite growing opposition across the pond. The gender pay gap in the UK technology sector stood at 17.5% in the year to ... Read more ›
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London-listed software group Checkit is cutting staff as part of strategic shift towards profitability. The workflow management platform provider said the macroeconomic situation – highlighting UK National Insurance increases and US trade tariffs – has forced it to strengthen its financial position. Following a review of the Cambridge-based firm’s operations and cost base, the group ... Read more ›
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Anthropic is kicking off a hiring spree for its European locations with more than 100 new roles expected across London and Dublin. The Californian AI unicorn behind Claude, founded by former OpenAI employees, said it would be hiring across sales, engineering, research and business operations, with its UK and Ireland offices receiving the bulk of ... Read more ›
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In the past five years, electronic records have replaced paper in most UK health environments. Twenty years of trying, buying, and connecting these systems has created more digitised data on wellness and illness than any group of humans could meaningfully explore in a lifetime. Data scientists can now unleash algorithms into those seas of data ... Read more ›
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Belfast-based carbon capture startup Nuada has become the first Northern Irish recipient of the EU’s EIC Accelerator prize, securing €2.5m (£2.1m). The accelerator, run by the European Innovation Council (EIC), offers funding and business support to startups in emerging markets in Europe. “The award from the EIC Accelerator is another stamp of approval for Nuada’s technology ... Read more ›
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Scottish fleet management software group Podfather has secured a £3.4m investment from new investor Maven Capital Partners. The deal includes funding from Maven Investor Partners as well as IFS Maven Equity Finance, an investment fund targeting businesses in Scotland managed by Maven and delivered by the British Business Bank. Epod Solutions Group, which trades as ... Read more ›
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Shares in EnSilica tumbled as much as 25% on Monday after the firm reported delays to multiple contracts. The Oxford-based semiconductor business said its design and supply agreement with Siae Microelectronica, which had been expected to deliver “significant” revenues as soon as this year, is now expected to be delivered over 2026 and 2027 due ... Read more ›
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Metro Bank has launched a scam detector in partnership with AI startup Ask Silver as fraud forces billions in losses in the UK. Fraud represents one of the most common legal risks to people in Britain, with more than four in 10 crimes in the UK being scams or fraud, according to UK Finance. Over ... Read more ›
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London fintech ClearBank swung to a loss in 2024 as the costs of European expansion took their toll on the firm’s bottom line. The British fintech reported its UK business was profitable for the second year in a row – though pre-tax profit did fall around 60% to £9.9m compared with 2023. The implementation of ... Read more ›
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Since it was founded in a college dorm two decades ago, Facebook has never been short of controversy. Perhaps that’s because its founder, Mark Zuckerberg, has never been worried about attracting it. Even in the early days, when a friend of Zuckerberg asked how he managed to collect thousands of personal emails, pictures and addresses, ... Read more ›
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A new £50m cybersecurity investment fund from VC firm Osney Capital featuring state backing has launched as firms come under pressure to bolster their cyber defences. The fund, which has received investment from British Business Bank, will back 30 companies at the seed and pre-seed stage with cheques between £250,000 and £2.5m as well as ... Read more ›
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By now, most people will have heard of quantum computing. But a much smaller subset will be aware of how the technology works and the full range of potential use cases. It will surprise some to learn that modern quantum theory has been around for a century. But the difficulty, as well as the cost ... Read more ›
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Times of geopolitical crisis tend to spell good fortune for the firms developing technology to shore up the world’s militaries. Last month, Chancellor Rachel Reeves pledged an additional £2.2bn to the Ministry of Defence, alongside a pledge to dedicate a minimum of 10% of the department’s budget on “novel technology”, suggesting a windfall for the ... Read more ›
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This week’s UK tech funding roundup includes drug discovery DeepMind spinout Isomorphic Labs, surgical robotic firm CMR Surgical and more. UKTN tracked £800.1m worth of UK tech investment this week (31 March to 4 April), a major week-on-week increase across nine funding rounds. Here’s your weekly roundup of UK tech startup funding deals. Isomorphic Labs ... Read more ›
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An AI-powered proptech startup has shut for business after the founders spoke of their own ‘vanity and stupidity’. London-based Tract, which was founded in 2023, had raised funds from VC firms Ada Ventures and Concept Ventures to build a platform which identifies areas of land to be built and compiles the relevant planning permission documentation, ... Read more ›
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The government has committed £13.9bn in research and development (R&D) spending, turning to new technologies to support its growth agenda. The funding will be allocated by the Department for Science, Innovation and Technology (DSIT) across a handful of associated agencies. UK Research and Innovation (UKRI) – which finances scientific research – will receive £8.8bn over ... Read more ›
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In the Spring Statement, Rachel Reeves announced that the Office for Budget Responsibility (OBR) had concluded the Government’s planning reforms and will help build over 1.3 million homes in the next five years. The reforms are expected to drive housebuilding to a 40-year high, with 305,000 homes built annually by the end of the forecast ... Read more ›
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Anne Coghlan is the co-founder of Scope3, a software firm providing sustainability insights on supply chains. In this week’s Founder in Five Q&A, Coghlan discusses why founders be “eternally curious” and never stop learning, why being transparent with your team is essential and why positive outcomes for the planet don’t have to be negative outcomes for ... Read more ›
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A startup building the agentic operating system for investment firms has secured a £440k grant to scale the business. London-based AlphaLoops has been awarded the UK Smart Grant by Innovate UK, part of UK Research and Innovation, the UK’s national innovation agency, making it one of only 2% of successful applicants. The firm is developing ... Read more ›
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The EV market share in the UK for Elon Musk’s Tesla has fallen by a quarter since the start of the year despite a record number of electric car sales in March. UK sales for battery electric vehicles (BEVs) have risen by 38% compared with this time last year, with the month of March seeing ... Read more ›
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A charity once popular with tech entrepreneurs in the UK and US has seen its funding plummet after the imprisonment of one of its biggest donors. Effective Ventures, a charity operated by the Effective Altruism movement, saw its income sink 51% to £31.7m in the year to end June 2024, its latest accounts show, amid ... Read more ›
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An AI-powered video commerce platform has landed $7m in a Series AI funding round. London-based Unravel is seeking to become the “TikTok of travel”by turning creator content into travel bookings. Unravel said it will use the funding to enhance its AI capabilities to optimise video-commerce conversions and expand its London-based team, hiring top-tier talent in ... Read more ›
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Early-stage investments made up three-quarters of UK VC term sheets last year while the value of late-stage funding rounds fell, fresh figures have found, highlighting the challenges facing mature companies seeking to scale. Seed investments alone accounted for a third of UK funding deals in 2024, according to findings from the annual term sheet guide from ... Read more ›
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Embedded finance firm ClearBank has bolstered its position in the crypto market through a partnership supporting the British operations of US exchange Kraken. ClearBank will provide GBP clearing services – managing, verifying and securing pound-based transactions – for Kraken’s UK clients. The partnership comes weeks after Kraken secured an EMI licence via its legal entity ... Read more ›
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The founder and former CEO of Big Technologies has been accused of failing to disclose her interests in a number of the firm’s major shareholders. Sarah Murray, who was sacked earlier this week, is understood to have undisclosed interests in or relationships with Zinc Limited, Monitoring Partners Limited, RCP Limited and Romelle Limited who together ... Read more ›
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Shares in Wise jumped on Thursday after the global payments firm posted significant growth in customers and income. The figures, released by the London-listed fintech ahead of a capital markets day event set for Thursday afternoon, revealed active customers rose by more than a fifth, reaching 15.5 million by the end of March. Wise also ... Read more ›
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What Britain needed from the Spring Statement was concrete steps towards boosting its defence capabilities. There’s room for improvement, and we await the Strategic Defence Review led by former Secretary General of NATO and Labour Defence Secretary Lord Robertson with even greater interest. The confirmation that defence spending will rise to 2.5% of GDP by ... Read more ›
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Most popular sources
Business Insider
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69% 8 |
Wired
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5% 3 |
The Verge
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5% 1 |
Gizmodo
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5% 3 |
MacRumors
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2% 0 |
| View sources » | |
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08.04.2025 07:04
Last update: 06:51 EDT.
News rating updated: 13:51.
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