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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A tech bull market lasting more than a decade was the backdrop to the startup funding frenzy in the years following the pandemic. Investors, enticed by rapidly increasing valuations, jumped at the chance to be a part of the action at the early stage. However, the flurry of excitement in European private markets came crashing ... Read more ›
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California-based unicorn Scale AI has announced London as the location for its first international office. Scale AI, which is in talks to raise investment at a valuation of nearly $13bn, provides labelled data for training AI tools. The company works with groups including OpenAI, Cohere and the US military. Founded in 2016, Scale AI is ... Read more ›
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London-based autonomous driving software startup Wayve has raised $1.05bn (£840m) from SoftBank, Nvidia and Microsoft in the UK’s largest-ever venture investment for a British AI firm. The SoftBank-led round will support the development of Wayve’s embodied AI technology. The company describes embodied AI as advanced software integrated with vehicles and robots to determine how they ... Read more ›
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This year celebrates 11 years of KPMG Private Enterprise’s UK Tech Innovator competition. Nicole Lowe, UK head of KPMG’s Emerging Giants practice, looks back at how the tech landscape has changed, and what happened next to those businesses that won their regional pitching heats after entering the competition. The UK tech ecosystem is bursting with ... Read more ›
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Husayn Kassai, founder of Onfido and Quench.ai, suggests what the UK can do to attract more IPOs and build more scaleups, reflects on providing a 320x return on investment for the University of Oxford, and explains why people should be wary of the “excessive romanticisation” of unicorn success stories. Kassai co-founded Onfido, a digital ... Read more ›
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The intense climate impact from the rise of generative AI models will decline as systems become more energy efficient and tech firms move from building to updating, according to Google DeepMind’s sustainability lead. Speaking to UKTN, Drew Purves acknowledged that the massive demand for powerful new AI models, including Google’s Gemini, has led to skyrocketing ... Read more ›
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In today’s fast-paced fintech landscape, geographical expansion is often viewed as the ultimate benchmark of success. However, this perspective can be misleading. While growth is undeniably crucial, it becomes inconsequential if a business fails to establish itself as a leader within its sector. Whether this leadership is achieved in the original market or a new ... Read more ›
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Capital for startups has become scarcer. If the rest of 2024 plays out in the same way as the first quarter, total investment volumes might be as low as £12.8bn for the UK’s private companies. That’s a fall of 55% from the annual peak of £28.4bn in 2021. It’s hard to put a positive spin ... Read more ›
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A UK Digital Twin Centre will open in Northern Ireland, backed by £37.6m in investments from Innovate UK and Belfast Region City Deal. The centre, led by state-backed tech accelerator Digital Catapult, will develop use cases to demonstrate the potential for digital twin technology in areas such as maritime, aerospace and defence. Digital twins are ... Read more ›
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Quantum startup Aquark Technologies has secured a £3.4m contract from Innovate UK to develop a high-performance cold atom clock. The Southampton-based startup is working towards what it says will be the UK’s first commercially available cold atom clock. Cold atom clocks are tools to precisely measure time by cooling atoms to near absolute zero. Aquark ... Read more ›
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This week’s UK tech funding deals include fintech giant SumUp, digital-only AI-powered insurance provider Urban Jungle, quantum computing specialist Riverlane and more. UKTN tracked £1.44bn worth of UK tech investment this week (29 April to 3 May), a 3,011% week-on-week increase across 17 funding deals. This surge is skewed by the £1.28bn in debt financing secured ... Read more ›
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Jules Goldberg is the founder of Sleepwave and SnoreLab, which are both apps that aim to improve an individual’s sleep. Goldberg taught himself to code and first launched SnoreLab, an app to record and measure snoring, in 2012. He says the app has gone on to be downloaded over 14 million times. In 2022, Goldberg ... Read more ›
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Norfolk may be known for its picturesque towns and man-made broads but its fintech sector could be worth £100m by 2027, according to a new report. The East of England county is home to 24 fintech companies that have collectively raised £49m in investment, a report commissioned by advocacy group Tech East has found. It ... Read more ›
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The implementation of age verification technology developed by a British digital ID startup is at the centre of an Ofcom investigation into creator platform OnlyFans. Ofcom said it had opened an investigation into London-based OnlyFans – known for hosting sexual content – as it has “grounds to suspect the platform did not implement its age ... Read more ›
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A Bristol-based startup has now raised nearly £1m in funding after securing a government grant to develop its heat pump technology. Founded in 2022, Nusku said it is applying for a patent for its heat pump system that it claims can be installed in a few days rather than a week. The air source heat ... Read more ›
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Symbe, a platform that uses AI to create business cases for sales teams, has raised £1.2m in a pre-seed funding round. The platform aims to cut down the labour-intensive practice of creating business cases, which is a presentation demonstrating the value, terms and metrics of a purchase to clients. The process typically involves significant manual ... Read more ›
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London-based insurtech startup Urban Jungle has raised £11.2m in a follow-on investment from its previous backers. The digital insurance provider offers plans to homeowners and renters, claiming to have gained over 200,000 customers in the UK. The online-only insurance provider incorporates AI technology for fraud detection. Urban Jungle said its anti-fraud software drives down the ... Read more ›
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UK tech incorporations reached a five-year high at the beginning of the year despite a slowdown in venture capital funding, according to new research. Analysis of Companies House data by accountancy firm RSM found that there were 13,802 tech incorporations in the first quarter of 2024, up 11% compared with the same period the year ... Read more ›
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Cambridge tech firm Riverlane has been awarded a £2.1m grant from Horizon Europe to develop its quantum error correction decoder. The quantum startup has become one of the best-funded in its field in the UK, closing a £15m Series B round last year. The European Innovation Council (EIC) Transition grant, funded by the Horizon Europe ... Read more ›
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Liverpool-based investor Baltic Ventures has launched its 2024 accelerator programme with plans to back 12 UK startups. The group has opened applications for its 2024 cohort, with each startup to receive mentoring and networking opportunities along with a £30,000 investment. The announcement from Baltic follows the group launching its first accelerator programme last year at ... Read more ›
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16.06.2026 22:30
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