The Manchester Prize has returned for its second year as the British government hopes to incentivise AI innovation in the clean tech sector with £2m of prizes. First announced by former chancellor Jeremy Hunt during the 2023 Spring Budget speech, the Manchester Prize is an annual competition for AI developers in the UK managed by ... Read more ›
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In September 2024, UKTN hosted a roundtable discussion on the topic of AI Safety in partnership with Shoosmiths and KPMG. The discussion, chaired by senior reporter Oscar Hornstein, featured contributions from: George Margerson, deputy director for strategy and delivery at the AI Safety Institute Sue Daley, director for technology and innovation at techUK Laura Gonzalez, ... Read more ›
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Aurrigo is preparing for a surge in demand for its autonomous baggage handling vehicles as the Coventry-based business posted a jump in sales. The AIM-listed airside technology company said it was preparing for a 450% year-on-year rise in revenues from its autonomous vehicle division to hit £3m by the end of the year, while the ... Read more ›
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Cambridge-based biotech group Pact has secured £9m in seed funding as it prepares to open a 13,820 sq ft lab. Founded in 2020, Pact develops “nature-inspired” biomaterials including its flagship product Oval. Made from natural collagen, Oval has been described by the startup as a “climate-responsible” alternative to leather. Pact claimed if the textile industry ... Read more ›
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Klarna is looking to extend its reach beyond ecommerce after the Buy now pay later (BNPL) provider struck a deal with point-of-sale group Adyen. The tie-up will see Klarna’s BNPL product, which splits the cost of purchases into instalments, made available in physical stores across Europe, North America and Australia through Adyen’s payment terminals. For ... Read more ›
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The UK’s science minister has thrown his support behind a new scheme to award small grants to semiconductor firms in an apparent backtrack on remarks he gave earlier in the year. The scheme, which was unveiled today, sees 16 projects winning a share of a £11.5m pot provided by Innovate UK in a bid to ... Read more ›
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A Cambridge-based synthetic genomics startup has secured $58m (£43.4m) for the first close of its Series A round. Founded in 2021, Constructive Bio is developing programmable molecules through its genomics synthesis process. The firm hopes to engineer molecules with novel properties and functions to support pharmaceutical and therapeutic treatments. “Constructive Bio is the only company ... Read more ›
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For its latest report examining the ecosystems of various tech hubs around Britain, UKTN is looking at the East Anglia counties of Norfolk and Suffolk. Though it may lack the tech reputation of nearby hubs like Cambridge and London, Norfolk and Suffolk have quietly been carving out names for themselves as centres of digital business. ... Read more ›
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New regulation governing the use of buy now pay later (BNPL) payments is coming “soon”, City Minister Tulip Siddiq has said as she warned of a “black hole of debt” caused by the technology. Speaking at the Labour Party Conference in Liverpool, the economic secretary to the Treasury told UKTN she has “started” the regulatory ... Read more ›
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Cybersecurity business Snyk was able to reduce its losses in 2023 despite a string of acquisitions over the year, the company’s latest accounts show. The London, Tel Aviv and Boston-based business cut its pre-tax loss to $176m, down from $266m the previous year while managing to spend more than $40m acquiring other tech businesses. The ... Read more ›
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Meal supplement business Huel was dealt another blow on Wednesday after the British advertising regulator banned a promotional post for the Steven Bartlett-backed firm, the third such ruling in two months. The Advertising Standards Agency (ASA) said an Instagram post from Huel from April made unsubstantiated claims about its health benefits and cost relative to ... Read more ›
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Probiotix Health was plunged into a leadership crisis on Wednesday after one of the life sciences firm’s biggest shareholders called for the resignation of its CEO. Seneca Partners, which controls a 5.5% stake in the Aquis-listed business, has requisitioned a general meeting of the company’s shareholders including a vote to remove CEO Steen Andersen from ... Read more ›
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Stability AI has hired Terminator and Avatar director James Cameron as the London AI group looks to bring its technology to the creative sector. Known for championing burgeoning filmmaking technologies like CGI, Cameron was appointed by the AI unicorn to offer an artistic perspective to Stability’s suite of storytelling tools. “James Cameron lives in the ... Read more ›
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Stuart Neal, CEO of London-listed fintech Boku is “really pleased” with the group’s half-year results, having posted a revenue bump of 24%. Boku is a localised payment solutions provider with products including mobile payments and digital wallets. The group, which listed on London’s AIM exchange in 2017, reported revenue of $47.3m (£35.4m) for the six ... Read more ›
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Personal Group today upped its dividend as the company hailed a successful migration of customers to its new digital benefits platform. The insurance and employee benefits business said 40% of clients had now transitioned to its Hapi 2.0 platform, with a 100% migration expected by the end of the year, paving the way for more ... Read more ›
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Sales have surged at Raspberry Pi in the company’s first published results as a listed business following a successful IPO. The firm reported revenues of $144m for the first six months of the year, a jump of 61% on the previous year, while pre-tax profits nudged up slightly to $10.8m. But the computing firm warned ... Read more ›
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This week’s podcast guest is James Codling, managing partner at Volution. Codling discusses how despite a slowdown in funding and concerns over profits, the UK is still seen globally as a massive hub for fintech, how the hype around British fintech successes is not always spread evenly and why building a bank is the most ... Read more ›
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ChatGPT-maker OpenAI is “in favour” of the UK enacting legislation governing generative AI and called for it to “incentivise safety practices” as the firm attempts to kindle friendly relations with the new Labour government. Speaking at the Labour Party Conference on Monday, OpenAI’s head of UK policy Brittany Smith said the Microsoft-backed tech giant is ... Read more ›
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The AI Safety Summit, hosted by the UK last November was a “damp squib” that “didn’t go anywhere” according to a Labour MP as the party seeks to distance itself from the previous administration on key tech policy matters. Speaking at a technology panel at the 2024 Labour Party Conference, Exeter MP Steve Race said ... Read more ›
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British generative AI legal tech startup Luminance is opening its doors in Dallas, Texas as it looks to expand further into the States. Luminance, which this year raised over £30m in a Series B round led by US investor March Capital, has developed a large language model (LLM) to automate legal tasks including contract generation, ... Read more ›
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London-based fintech Payhawk posted heavy losses for 2023 despite more than doubling revenue. Based in Chancery Lane, Payhawk is a tool for managing corporate expenses, invoices, and company cards. The company works with clients including Microsoft, QuickBooks and Oracle NetSuite. The group reported a loss of €32m (£26.8m) for the year ended December 2023, 80% ... Read more ›
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Android Authority
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27.11.2024 10:35
Last update: 10:31 EDT.
News rating updated: 17:32.
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