Fintech is once again the UK’s best-funded startup sector after climate tech secured the most investment in 2023. In the first quarter of 2024, UK fintech companies raised $1.4bn across 73 rounds, according to data from Dealroom and HSBC Innovation Banking. Fintech funding rounds over the period include £340m raised by challenger bank Monzo and ... Read more ›
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Microsoft has launched a UK AI startup accelerator in partnership with London-based private investing platform Seedrs. The Series AI programme aims to help participating startups build and integrate AI technology. The four-week accelerator, open to startups from Seed to Series A stage, will include mentorship, resource sharing and commercialisation support. “Over the last few years, ... Read more ›
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International money transfer firm Wise has posted a small revenue bump for the fourth quarter of the fiscal year, but saw shares slip by 8% after missing analyst consensus estimates. In its Q4 trading update, the London-listed firm reported revenue of £277.2m, a marginal increase from the previous quarter’s £276.6m and a 24% increase from ... Read more ›
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This week’s UKTN Podcast guest is Improbable CEO and co-founder Herman Narula, who says the metaverse is already thriving rather than being over before it started. Backed by the likes of SoftBank and Andreessen Horowitz, the London-based company designs, builds and operates metaverse experiences for brands. Recent projects include screening a Major League Baseball match ... Read more ›
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Qureight, a Cambridge-based health tech company that develops digital infrastructure for complex medical data, has raised $8.5m (£6.8m). The company was founded in response to the limited treatment options for complex heart and lung diseases. According to Qureight, part of the problem is that researchers have to manually extract important information from large volumes of ... Read more ›
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Losses at Zapp increased from £76m to £92.5m in 2022 as the rapid grocery firm restructured the business to focus on core markets in what was a challenging year for startups. Quick Commerce Limited, which operates as Zapp, more than doubled its turnover year-on-year from £11.5m to £28.9m over the same period, according to accounts ... Read more ›
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West Midlands startup support organisation TechWM has launched a special interest group that will “champion” women in tech amid a “horrifying” industry gender gap. The Women in Tech Special Interest Group is aiming to get more women into technology roles and leadership positions. It aims to do so by bringing together industry experts who can ... Read more ›
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KPMG’s Private Enterprise practice has today launched its annual search for the most exciting tech innovators on offer in the UK in its 2024 tech startup competition. The pitching competition, which has been running since 2013, has uncovered outstanding tech from businesses across the UK including What3Words, VividQ and HiiROC who went on to win ... Read more ›
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Lawhive, a legal tech startup that has built a large language model-powered “AI lawyer”, has raised £9.5m. Founded in 2021, Lawhive has built a platform for lawyers, described by the company as “Shopify for Law”, to complete time-consuming tasks for clients. The London-headquartered company said its AI tools automate repetitive admin tasks such as client ... Read more ›
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Ironically, the UK’s new flexible working laws, a significant attempt to modernise the country’s working landscape, came into effect on 6 April – a Saturday. Even legislation needs a weekend lie-in, apparently. Admittedly, it’s the beginning of the new financial year. Yet that no one thought to look at the calendar and bring in the ... Read more ›
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The UK continues to tackle a skills gap for crucial tech roles. At the same time, government plans to further cut net migration have caused concerns among startups that it will become even more challenging to secure the right talent. What are the visa options for people hoping to work in the UK’s tech ecosystem ... Read more ›
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The UK’s competition regulator has warned that a small number of powerful tech firms have the potential to use their size to dominate the AI market. Speaking at a conference in Washington DC, Sarah Cardell, chief executive of the Competition and Markets Authority (CMA), noted the growing presence in the AI foundation model market of ... Read more ›
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The UK government has announced the follow-up to last year’s AI Safety Summit will take place in South Korea in late May. The AI Seoul Summit, taking place on 21 and 22 May, will follow on from discussions between world leaders, tech companies and researchers started at the UK’s Bletchley Park AI Safety Summit held ... Read more ›
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Keith Lewin is the founder and chairman of PostTag, a company providing precise address data to delivery and taxi businesses. Founded in 2016, PostTag has created software that it says processes over 3,000 address validations every minute to provide “precise longitude and latitude details”. Because this data is more precise it means companies can save ... Read more ›
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This week’s UK tech funding deals include SME financial management platform Mimo, a navigation app for the visually impaired called Waymap, digital carer platform Log my Care and more. UKTN tracked £42.4m worth of tech funding deals this week (08 April to 12 April), an 18% week-on-week decline. Here’s your weekly roundup of UK tech startup ... Read more ›
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Quantonation Ventures has secured €70m (£60m) in the first close of its second early-stage quantum technology investment fund. Founded in 2018, Quantonation is a VC firm that targets deep tech companies, particularly those developing quantum computing technology. Through its first fund, Quantonation backed 27 companies, including London-based Orca Computing, which raised £12m in June 2022, ... Read more ›
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Administrators of the collapsed UK electric vehicle company Arrival believe a sale of the company and the repayment of creditors is “possible”. The UK subsidiary of the Luxembourg-based EV maker entered administration in February after failing to secure a rescue deal. Administrators from EY have concluded that the primary objective of rescuing the business “would ... Read more ›
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Mimo, a financial management platform for small and medium-sized enterprises (SMEs), has closed a £15.5m funding round. Founded in 2023, Mimo aims to simplify cashflow management for SMEs. The company said the abundance of software tools performing specific financial tasks such as payroll, invoicing and international payments, has created a fragmented and complex system for ... Read more ›
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Veremark, a London-based startup offering background screening for hiring and appraisals, has raised $3m (£2.4m). Founded in 2019, Veremark performs background checks for companies on prospective hires, looking at qualifications and legal compliance. Veremark can also be used to screen existing staff, business partners, limited partners and founders. The company also recently launched Verepass, a ... Read more ›
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When Chancellor Jeremy Hunt declared that the UK was on track to become the next Silicon Valley, UK tech was conflicted. Comparing the UK to the fabled US tech sector is both a help and a hindrance. There’s no doubting the Valley’s achievements in creating so many of the biggest companies of the last 30 ... Read more ›
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16.05.2026 00:27
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