This week’s UK tech funding deals include AI engineering platform PhysicsX, tax software platform Record OS and more. UKTN tracked £266.48m worth of UK tech investment this week (08 June to 12 June), a 44% week-on-week decrease across six funding rounds. Here’s your weekly roundup of UK tech startup funding deals. PhysicsX – £225m Sector: ... Read more ›
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Resurge Growth Partners has unveiled a new venture equity vehicle in a bid to bridge the gap between venture capital and private equity for high-potential European and Israeli scaleups. The firm will invest over €120m (£100m) via the vehicle over the next three years, with nearly half of the capital already committed from the founding ... Read more ›
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Pinewood has upgraded its earnings guidance as the car dealership software firm prepares for major overseas expansion. The Nottingham-based business, formerly known as Pendragon, today raised its guidance for underlying EBITDA in FY27 to £30m from £27m. The London-listed firm has laid out its vision for global growth in a capital markets event with shareholders. ... Read more ›
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Digital product agency, Studio Graphene has spun out a new SaaS business, Telsen, having invested in creating the technology in-house over the past two years. Telsen is a SaaS platform designed to automate food safety checks and operational monitoring for the hospitality industry. It uses sensors and digital workflows to ensure compliance, prevent safety issues, ... Read more ›
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One of Britain’s biggest online used car marketplaces has driven down its losses as one of the co-founders stepped down from the board. The company’s pre-tax loss for 2023 fell by around a quarter to £31.8m down from £43.2m the previous year. Total revenues grew by 48% to £60.9m for the year, according to accounts ... Read more ›
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Pockit has appointed former Mastercard International president and CEO Gene Lockhart to its board as it looks to deploy its scaling plans. The fintech has set its sights on becoming the go-to financial services provider for what it describes as the “unbanked”. “Having led some of the world’s largest financial services organisations and been so ... Read more ›
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This post was sponsored by Scrut Automation, a platform for governance, risk, and compliance for businesses. Teja Edara, an executive from automated smart compliance platform Scrut Automation. Speaking to UKTN, Edara discussed the importance of compliance and the rapidly changing regulatory landscape. What is the importance of effective governance, risk and compliance (GRC) programmes? Teja Edara: ... Read more ›
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Policymaking on artificial intelligence has been captured by a ‘tech bro takeover’, the former chair of the Ada Lovelace Institute has warned. Professor Dame Wendy Hall, who previously served as the UK’s AI Skills Champion, said the overabundance of men in senior policymaking roles ‘wound her up’ following the disbanding of the government’s AI Council ... Read more ›
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The hedonistic season celebrating popstar Charli XCX’s latest record dubbed ‘brat summer’ may have ended, but for one of the UK’s top fintechs, the party is just getting started. Revolut is approaching 50 million global users and, ever keen to break away from the stuffy image of its Canary Wharf neighbours, is planning to celebrate ... Read more ›
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This week’s podcast guest is Sachin Dev Duggal, founder, CEO and self-described chief wizard, of Builder.ai. Duggal discusses the ways people commonly misinterpret AI, the importance of allowing diverse groups input in regulation and lawmaking concerning the technology and the personal journey he faced through legal challenges overseas. Builder.ai is a Microsoft-backed startup that uses ... Read more ›
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The UK’s financial regulator is interviewing 20 ‘finfluencers’ under caution in a crackdown on fraud. The Financial Conduct Authority (FCA) said it had launched a targeted action against people who may be illegally touting financial products on social media. The regulator warned there has been a significant increase in this practice, adding that these influencers ... Read more ›
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Pre-tax profit jumped 74% last year at the UK arm of Uber Eats, the food delivery subsidiary of the mobility giant. In the latest accounts for Uber Eats’ UK entity, the group reported pre-tax profit of £18.4m for the year ended December 2023, up from the £10.5m the year prior. Turnover at the company, which ... Read more ›
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Plural, the investment group run by government AI advisor Ian Hogarth, has led a $22m (£16.9m) round into a London startup using light to train large language models (LLMs). Oriole Networks, a spinout from University College London, has raised a total of $35m this year, having previously raised £10m in March. Founded in 2023, Oriole ... Read more ›
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Businesses and individuals alike are navigating a landscape marred by unpredictability. As the World Economic Forum warns in its most recent global risk report, our outdated digital infrastructure and subsequent services are struggling to keep pace with the growing demands of the modern world. As emerging technologies like AI, Blockchain and even 5G hit everyday ... Read more ›
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The London Stock Exchange Group has fired a US-based employee over a “concerning video” that violated its policy against racism and discrimination. In a LinkedIn post, the London Stock Exchange Group said it had been made aware of the video, and that the member of staff had been initially suspended while an investigation took place. ... Read more ›
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Ella d’Amato is the co-founder and CEO of I love it, a social commerce startup in which AI curates the shopping experience, with users recommending their favourite purchase, acting almost like sales people. In this week’s Founder in Five Q&A d’Amato discusses how AI is misunderstood, breaking into the industry with no university degree and, of ... Read more ›
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The CEO of Boohoo is to step down after the British e-commerce firm reported a sharp drop in the value of its overseas sales. John Lyttle, who has been at the helm of the London-listed business for the past five years and previously worked as chief operating officer of Primark, had presided over a roughly ... Read more ›
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New rules designed to protect consumers from the risks associated with buy now pay later (BNPL) payments will be introduced in early 2025, according to the Treasury. The government is preparing to introduce requirements for affordability checks and consumer protections to prevent at-risk customers from accruing excessive debt through the use of BNPL. Announced by ... Read more ›
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The UK Space Agency has committed a £1m grant towards a project developing solutions to refuel satellites from space tech companies Magdrive and Orbit Fab. The firms signed a memorandum of understanding (MoU) to collaborate on the technology in the hopes of making space technology more sustainable and ambitious. The agreement centres around Magdrive’s SuperMagdrive ... Read more ›
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The chief executive of Ofcom has warned social media firms that disciplinary action including hefty fines will soon be enforceable via the Online Safety Act. Speaking on BBC Radio Five Live on Thursday, Ofcom CEO Dame Melanie Dawes said enforcement of the Online Safety Act – a law passed last year to prevent the spread ... Read more ›
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Britain’s financial watchdog is launching an AI lab to bring together tech firms, academics and regulators to better understand the technology’s present and future impact on financial services. Announced in a speech by Jessica Rusu, chief data, information and intelligence officer at the Financial Conduct Authority (FCA), the AI lab will support the implementation of ... Read more ›
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16.06.2026 01:32
Last update: 01:25 EDT.
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