Scottish rocket manufacturer Orbex has raised £16.7m as it gears up for the launch of its satellite transportation vessel Prime. One of just two UK-based space rocket manufacturers – the other being fellow Scottish firm Skyrora – Orbex has secured the investment as an initial fundraise for its upcoming Series D round. The space tech ... Read more ›
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The first UK Tech Week is just around the corner, with more than 30 confirmed events set to take place across the nations and regions. The inaugural event, running from 23 April to 25 April, aims to showcase the tech innovation and entrepreneurism taking place across the UK. UK Tech Week will see separate events ... Read more ›
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London-based AI unicorn Stability has laid off about a tenth of its workforce as part of a “strategic plan to reduce” costs just weeks after the departure of its founder and CEO. The layoffs, affecting around 20 staff, were announced by Stability in a company-wide memo on Wednesday evening, first published by Business Insider. The ... Read more ›
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Tangent, a jobseekers network targeting aspiring tech workers from less advantaged backgrounds, has raised $1.1m (£882,000). Founded by former LinkedIn employee Gary Izunwa, Tangent is a platform that connects jobseekers from low socioeconomic backgrounds with people in tech offering mentorship and referrals. The recently launched Tangent network is initially starting with entry-level tech sales roles, ... Read more ›
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A group of tech companies in the north of England have called for the creation of a Manchester-based digital investment fund to help challenge the “dominance of London and the South East”. Industry body Manchester Digital and several tech firms based in the north or with a significant northern presence – including Auto Trader, BT ... Read more ›
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Wagestream, a flexible earnings platform used by Asda, Burger King and Bupa, has closed a £17.5m funding round. Founded in 2018, Wagestream is a platform for shift workers to access earnings from completed work before designated paydays. Wagestream also offers users debt advice and savings options. The company said a significant portion of its users ... Read more ›
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Venture capital (VC) funding in the UK has dropped for the third consecutive quarter, with minimal rounds taking place for later-stage companies, new data has shown. VCs invested £2.4bn into UK tech firms in the first quarter of the year, according to the European Venture Report from PitchBook. This is a 25% drop from the ... Read more ›
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Skyports has secured $110m (£88.3m) to build vertiports that can support the take-off and landing of flying taxis in Dubai ahead of a targeted 2026 launch. The London-headquartered flying taxi infrastructure company said it will also use the Series C funding to develop its drone services, which include medical deliveries and asset inspection. The funding ... Read more ›
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The UK Space Agency has made £8m available to back early-stage space tech companies via the UK Innovation and Science Seed Fund (UKI2S). As part of the government’s decade-long plan to advance the UK space industry, the national space agency has earmarked funding for a space tech portfolio backed by UKI2S, a fund managed by ... Read more ›
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HealthKey, a digital platform for users to manage healthcare treatments and services from a variety of sources, has raised £1.1m in a round led by insurance giant Aviva’s venture capital arm. The startup’s platform presents a variety of health and wellbeing products and services. Its portal combines employer health budgets and insurance benefits with salary ... Read more ›
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Fintech has returned to being the UK’s most-funded tech sector but the country is at risk of losing its crown, according to a handful of new policy recommendations from the likes of Monzo, Revolut and The Tony Blair Institute for Global Change. Two major fintech policy reports have been published this week as data revealed ... Read more ›
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Glasgow-founded digital pharmacy startup Phlo has secured a £9m investment as it looks to continue its expansion across the health market. Phlo was founded as a digital pharmacy offering ordering, managing and delivery tracking services for prescription medication. The company has since expanded its product suite to include a digital infrastructure platform for healthcare providers ... Read more ›
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British fintech company Zopa Bank has reached annual profitability for the first time. The digital bank reported a pre-tax profit of £15.8m for the year ended 31 December 2023, up from a loss of £26m in the year prior. Zopa said its customer base has now grown to over one million people since its 2020 ... Read more ›
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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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23.06.2026 05:04
Last update: 04:55 EDT.
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