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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Cambridge tech firm Riverlane has raised $75m (£64m) in a Series C round to expand operations for its quantum error correction technology. This new funding has reportedly made it the first quantum computing startup in Europe to raise a Series C, according to TechCrunch. The startup, founded by Steve Brierley, focuses on a product it ... Read more ›
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The UK is unable to sanction social media firms such as X over their role in inciting far-right riots despite the Online Safety Act becoming law over nine months ago. Violent riots and protests have erupted across the UK including in Birmingham, Liverpool and Plymouth, prompting panic and severe police response. Social media services have ... Read more ›
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Warehouse robot management software startup PHINXT Robotics has secured £2m in venture capital funding. Founded in 2022 by two PhD researchers, Yanwen Chen and Quirino Zagarese, the startup has developed a cloud-based platform they claim helps companies tackle costly and inefficient warehouse operations by making robotic deployments simpler. Traditionally, integrating robotics in warehouses has been ... Read more ›
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This week’s UKTN Podcast guest is Dr Claire Thorne, co-CEO of Tech She Can, who discusses her expectations from the next government to revamp the education curriculum for technology roles. Thorne also addresses the various factors that impact why girls don’t get into STEM, why a third of women are leaving the sector and the ... Read more ›
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The co-creator of the UK’s AI Safety Institute has left the civil service after two years of supporting government tech policy. Nitarshan Rajkumar was one of the founding members of the AI Safety Institute when it was established in 2023 under former Prime Minister Rishi Sunak. Rajkumar, who has been a policy advisor to the ... Read more ›
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Not long after securing its UK banking licence, Revolut is set to cement its position as Europe’s most valuable startup through a $500m share sale that would give the fintech giant a $45bn (£35.3bn) valuation. The sale was announced to staff on Friday. Revolut employees who have been at the firm for over a year ... Read more ›
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The government should create mechanisms for businesses to more easily share data to increase the cash flow into small UK businesses, according to the SME Finance Taskforce. The taskforce, chaired by the government-backed Centre for Finance, Innovation and Technology (CFIT), is a group of banks, fintechs, software providers, credit agencies and industry bodies formed to ... Read more ›
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Lloyds Bank has appointed a former Amazon Web Services (AWS) executive as its director of artificial intelligence as part of the banking giant’s focus on building its AI capabilities. In the newly created role, Dhawan will run the bank’s “AI Centre of Excellence”, a group of data science, behavioural science, machine learning and AI ethics ... Read more ›
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In his King’s Speech last month, Charles III outlined Labour’s plans to “seek to establish the appropriate legislation to place requirements on those working to develop the most powerful artificial intelligence models”. While not quite the firm commitment to AI legislation many expected, it marks a clear shift away from the previous government’s “wait-and-see” approach. ... Read more ›
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Cambridge-based drug discovery startup Healx has announced a $47m (£37m) Series C funding round as its trial neurofibromatosis treatment receives regulatory approval. Founded in 2014, Healx is using AI to find treatments for some of the world’s rarest diseases. Healx has raised over $100m since it was founded, having previously raised $56m in a 2019 ... Read more ›
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This week’s UK tech funding deals include newly crowned femtech unicorn Flo, financial large language model developer Aveni and flexible energy startup Axle Energy. UKTN tracked £257.5m worth of UK tech investment this week (29 July to 2 August), a 125.5% week-on-week increase across 15 funding rounds. Here’s your weekly roundup of UK tech startup ... Read more ›
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Edinburgh-based golf technology startup Shot Scope has secured $8.5m (£6.6m) in funding as it aims to improve the skills of more than 60 million golfers worldwide. Founded in 2014 by David Hunter in the “home of golf”, Shot Scope offers subscription-free technology such as GPS wearables, laser rangefinders, and shot-tracking devices to provide in-depth performance ... Read more ›
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The government has scrapped £1.3bn of funding for AI and compute projects pledged by the Conservatives as Labour reassesses the budget left by Rishi Sunak’s administration. The projects included an £800m exascale supercomputer in Edinburgh that the previous government said would accelerate AI, medicine and low-carbon energy advancements. The supercomputer was announced last October by ... Read more ›
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Matt Ford is the CEO and co-founder of Sidekick, a digital wealth management platform for professionals looking to invest their savings. Founded in 2022, Sidekick is a platform aimed at founders, tech workers, lawyers and similar professionals who want to invest beyond picking stocks but don’t know what the next steps are. The London-based startup ... Read more ›
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Labour’s focus on growth, growth, growth dominated its election campaign and most recently its first King’s Speech in the last 14 years. We saw the government acknowledging the potential of technology as a force for good to drive economic growth in the UK, exampled by the move to unblock two data centres almost immediately during ... Read more ›
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Octopus Energy has appointed former Sisense CEO Amir Orad as the chief executive of its technology platform Kraken. The energy provider, part of Octopus Group, said the decision to appoint a dedicated CEO for its platform was made to meet its growth goals. Kraken is the underlying tech platform behind Octopus’ energy business. The system, ... Read more ›
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Dozens of semiconductor startups working on AI efficiency and advanced healthcare have joined a government-backed incubator to turn their research into businesses. The ChipStart programme, which launched in October 2023 with £1.3m in funding, aims to nurture new chip designers. Each of the participants joining the incubator will be supported by Silicon Catalyst’s design tools, ... Read more ›
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London-based flexible energy software platform Axle has raised $9m (£7m) in a seed funding round led by VC firm Accel. The startup was founded in 2023 to meet the changing energy demands as the world slowly moves beyond fossil fuels and traditional energy grids. Axle Energy has developed a software platform to connect devices such ... Read more ›
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Cardiff-based travel tech startup Lovetovisit has secured £3.2m in VC funding to scale its platform for discovering and booking activities across the UK. Since its launch in 2021, the startup has generated £7.4m in revenue, according to its twin sister co-founders Georgia and Alice Aubrey. From theatre trips and city attractions to local events and ... Read more ›
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London-based laundry on-demand startup Laundryheap has continued its expansion with the purchase of Peruvian startup GetLavado, its fifth acquisition in two years. Founded in 2014, Laundryheap is billed as Uber for washing clothes. Users can request washing and dry cleaning services with electric vehicles collecting clothes to be cleaned and returned in under 24 hours. ... Read more ›
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16.06.2026 11:03
Last update: 10:55 EDT.
News rating updated: 17:54.
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