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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Billionaire Mike Ashley’s Frasers Group has joined backers of a £40m investment fund targeting early-stage startups in the AI and data space. London and Belfast-based VC firm Iona Star has raised £22m in the first close of its new fund. The Iona Star fund will target AI and data startups with investments between £1m and ... Read more ›
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Charlotte Lucy Hall is the co-founder of Zinc, a startup providing background screening and reference checking technology for hiring managers. In this week’s Founder in Five Q&A, Lucy Hall discusses motivating a team by being vulnerable, running a startup with her significant other and why femtech is an industry to watch. What advice would you give ... Read more ›
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HSBC Innovation Banking has appointed Simon Bumfrey as its new interim CEO as it continues its search for a permanent replacement to outgoing chief Erin Platts. Banking industry veteran Bumfrey, 60, has served as head of relationship banking at HSBC Innovation Banking for the past year and had worked at its previous incarnation, Silicon Valley ... Read more ›
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Revolut has blasted recent measures from Meta to tackle digital fraud as ‘baby steps’ as the fintech demands social media firms be made liable to reimburse victims. Responding to the expanded partnership between Meta and UK banks, announced this week, Revolut has argued that financial institutions are unfairly being given the responsibility to refund fraud ... Read more ›
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British retailers are mounting a fresh lawsuit against Amazon after accusing it of “unlawful” freezing of sales proceeds. The legal action claims the ecommerce giant has been wrongfully freezing the cashflow of sales made on its platform, with some retailers claiming as much as £300,000 in sales have been unfairly blocked. The legal action is ... Read more ›
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Monese has borrowed money from card company Pockit as it scrambles for fresh sources of funding after shareholder HSBC wrote off the value of its investment. The London fintech entered into a debt agreement in September, fresh company filings show, with Pockit acting as the lender. The size and terms of the deal were not ... Read more ›
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An Oxford-based biotech company developing “cutting-edge” cancer treatments has been backed by US pharmaceutical giant Pfizer and research group the Francis Crick Institute. Enara Bio on Thursday announced a $32.5m (£24.7m) Series B funding round. With more than three million estimated cancer patients in the UK and around 167,000 deaths annually, according to Macmillan Cancer ... Read more ›
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Ameba, a London-based AI startup developing supply chain insights software, has raised $7.1m (£5.3m) in a seed funding round. Founded in 2023, the West London startup has developed an AI platform to automate the extraction of data from across supply chains to generate insights into the source and status of products. “Brands today face intense ... Read more ›
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Starling Bank has been fined £29m by the UK financial watchdog for failings in its financial sanctions screening system. The Financial Conduct Authority (FCA) said on Wednesday that Starling, worth over $3bn, repeatedly breached a requirement to not open accounts for “high-risk” customers. According to the regulator, Starling’s jump in users from 43,000 in 2017 ... Read more ›
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UK banks have agreed to share “intelligence” with Meta in an effort to combat financial scammers. Meta announced on Wednesday that the Fraud Intelligence Reciprocal Exchange (FIRE), which was launched as a six-month pilot in the Spring, will be expanded. The exchange agreement means participating banks share fraud intelligence with Meta, which uses it to ... Read more ›
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Google could be forced to drop the branding from its ‘YouTube Shorts’ streaming platform after it was accused of “tarnishing” the identity of a smaller rival. In a trial set to begin in the Royal Courts of Justice today, the tech giant is claimed to have damaged the brand of London-based short film distributor Shorts ... Read more ›
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Robotic warehouse startup Dexory has raised $80m (£60m) in a joint equity and debt-based Series B funding round. Founded in 2015, Dexory develops fully autonomous robots capable of analysing and generating operational insights. Dexory’s robots scan fulfilment centres and create digital twins viewable and manageable on the company’s software platform. “We are incredibly excited about ... Read more ›
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A firm insuring the UK’s food delivery riders has axed more than 100 jobs and has exited the B2B market altogether as it set a course to hit profitability in 2025. London-based Zego, which supports Deliveroo, Uber Eats and Just Eat riders, has cut its headcount by 105 since 2022 to 347, its recent accounts ... Read more ›
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Local governments have been left struggling with the procurement of new AI technologies for public service, according to the Ada Lovelace Institute. The independent research organisation said on Tuesday that despite the bullish outlook from central governments past and present on rolling out public sector AI, local authorities have been left behind. According to new ... Read more ›
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This week’s podcast guest is Timo Boldt, founder and CEO of Gousto. Boldt discusses growing his business from a Dragon’s Den pitch to a market leader, how sustainability has always been at the heart of Gousto and the importance of new founders finding good mentors. Gousto is a startup that sends pre-packaged meal kits with ... Read more ›
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Car finance firm Carmoola has added to its debt pile after securing a new £100m loan from high street bank NatWest. The new financing adds to the company’s £31m in loans which were refinanced last year, a £50m senior revolving credit facility with the option to extend it by another £25m, and a further junior ... Read more ›
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The operator of a network of illegal crypto ATMs has pleaded guilty in Westminster Magistrates Court in the first UK conviction of its kind. Olumide Osunkoya is due to be sentenced for five counts of operating ATMs used for buying and selling cryptoassets without registration from the Financial Conduct Authority (FCA). Under British law, ventures ... Read more ›
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London-based investor IW Capital has launched a £30m fund targeting UK-based SMEs following the completion of a management buyout. Founded in 2011, IW Capital has backed around 40 UK startups including peer-to-peer currency swap group WeSwap and health tech company GPDQ. The new fund will focus on businesses with a proven model ready to scale. ... Read more ›
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Bango said it expected to see a surge in the range of subscription services offered by Britain’s biggest banks, as the AIM-listed business posted a jump in half-year revenues. The Cambridge-based firm, which offers subscription bundling services to major telecoms firms, said it saw many banks turning towards offering subscription packages themselves as they look ... Read more ›
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Nesti, a startup using video generation to support sales teams, has secured a £250,000 pre-seed investment. The business was founded in 2024 after hundreds of conversations with sales staff revealed outbound engagement would often increase when video pitches were sent. Nesti is an automated video prospecting tool. With generative AI, the platform replicates sales teams ... Read more ›
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16.06.2026 04:23
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