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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UK startup funding dropped by 19% in the first quarter of the year, with late-stage investments being hit the hardest, according to new data. In its quarterly report on the UK tech industry, research firm Tracxn found British startups raised $2.5bn in the first quarter of 2024, compared with $3.09bn raised at the end of ... Read more ›
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The UK and US have agreed to jointly develop AI safety tests, following previous commitments to collaborate on the rapidly developing technology. The two countries have signed a memorandum of understanding, solidifying an agreement to build a common approach to AI safety tests. The tests, which will be developed by the AI Safety Institutes of ... Read more ›
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In this week’s episode of the UKTN Podcast, Lord Tim Clement-Jones, a Liberal Democrat peer, explains why a lack of consistency from the government hasn’t helped startups, weighs in on the debate around using copyrighted material to train AI systems, and unpacks why regulation isn’t the enemy of innovation. Lord Clement-Jones, who co-founded and has ... Read more ›
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It’s boom time for AI companies, with UK startups specialising in artificial intelligence raising $4.5bn in equity funding in 2023, according to Dealroom data. The number of newly incorporated UK companies with “AI” in their name tells a similar story of businesses looking to ride the wave. In the first 86 days of the year, ... Read more ›
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This week’s UK tech funding deals include LLM training startup Oriole, clean energy developer WASE, AI recruitment tool Metaview and more. UKTN tracked £32.15m worth of funding deals this week (25 March to 29 March) with AI and clean economy startups dominating. Here’s your weekly roundup of UK tech startup funding. Oriole – £10m Sector: AI HQ: London ... Read more ›
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Caitlin Baltzer is the co-founder and CEO of MYndspan, a company developing technology to measure cognition and non-invasive brain scanning. Co-founded by Baltzer in 2020, MYndspan provides magnetoencephalography (MEG) scans at its partner scanning sites. The results provide people with a baseline reading of their brain health, which can help assess any future damage, identify ... Read more ›
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Welsh innovation was on full show this month, with hundreds of people descending on Cardiff for the 2024 edition of the highly respected Wales Technology Awards. Held every year, the Wales Technology Awards is a glamorous affair and can be easily described as the Oscars of the Welsh technology industry. This year’s ceremony was held ... Read more ›
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Oriole, a UCL spinout attempting to train large language models (LLMs) faster and less energy-consuming than the current standard, has raised £10m. The startup was founded in 2023 in response to the growing concern in the AI sector over the extreme energy requirements of running generative AI models. Oriole claims to have found a solution ... Read more ›
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The UK government has approved £16.6m of funding to support semiconductor research for electric vehicles (EVs) and clean energy. Announced on Thursday, the funding will be delivered by Innovate UK as part of the £1bn semiconductor strategy announced last year. The tech department aims to give researchers and businesses in the field access to new ... Read more ›
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Few industries transcend territorial boundaries quite like tech – a belief reaffirmed by my travels in Southeast Asia this month. With UK-Southeast Asia Tech Week organised by the Department of Business and Trade taking place, I joined tech leaders from across the region for an event designed to strengthen UK relations with some of the ... Read more ›
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Pragmatic Semiconductor has opened a major manufacturing facility in Durham as nations scramble to secure chip supply chains. Pragmatic Park, a 60,000-sqm facility in the North East, opened on Wednesday in a ceremony featuring key customers, ecosystem partners, investors, government officials and British royalty. The company said the factory would provide 500 new high-skilled jobs ... Read more ›
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Manchester-based investor Praetura Ventures has launched a programme to support early-stage startups in the North West. The programme, called PraeSeed, is aiming to fill the pre-seed funding gap in the region by investing up to £6m across 35 startups over the next five years. PraeSeed will begin in June, with workshops and an assessment period ... Read more ›
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A company developing robots to harvest berries has secured a £600,000 government grant to increase the accuracy of its autonomous systems. Cambridge-based Fieldwork Robotics has built vertical robots to harvest soft fruits. It is aiming to address a shortage of fruit pickers using automation. The funding, which comes from the Department for Environment, Food and ... Read more ›
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Building on its industrial legacy, Wales is emerging as a global hub for innovation. It is home to significant tech clusters in compound semiconductors, insurtech, health tech and cybersecurity with established companies, new startups and world-leading universities helping to grow these specialisms. Last year was a boom in startup creation – more than 20,500 Welsh ... Read more ›
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Tech companies in Wales raised £112m in venture capital funding last year, an 8.7% increase from 2022, according to new data. Research from Barclays Eagle Labs, the multinational bank’s startup support network, found the country was resilient to the broader UK slowdown of venture capital last year. Separate data previously found that UK tech funding ... Read more ›
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Profits at London-listed money transfer firm CAB Payments dropped by almost a third despite growth in gross income. Cab Payments posted a profit of £23.9m after tax for last year, a 29% decrease from 2022. The firm grew its gross income by a quarter, reaching £137.1m, credited in part to a solid onboarding of new ... Read more ›
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Fintech company Tide has appointed a UK and Europe CEO as the company prioritises expansion into international regions. George Schmidt, a former SVP of acquisition marketing at Tide, has been named CEO of UK/Europe, reporting to Tide chief executive Oliver Prill. The appointment follows the company’s launch in Germany earlier this month. As a regional ... Read more ›
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In this episode of the UKTN Podcast, Tramshed Tech co-founder and CEO Louise Harris discusses the challenges and opportunities for the Welsh tech sector, unpacks the country’s tech sub-sector strengths from semiconductors to creative, and explains what a changing political landscape might mean for businesses. Harris co-founded Tramshed, a co-working space for tech and digital ... Read more ›
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In October, the government announced new goals to achieve between 20 and 30 million tonnes of captured and stored carbon dioxide a year – the equivalent of taking four and six million cars off the road each year from 2030. Some see carbon capture as a crucial component of the UK’s net zero target. But ... Read more ›
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Digital bank OakNorth posted a pre-tax profit of £187.3m for 2023 as it expands its footprint in the US. The London-based challenger bank’s pre-tax profit was up by almost a quarter (23%) from 2022, according to its latest financial report. The total comprehensive income for the year posted by the bank was £140.7m. The SME-loan ... Read more ›
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17.06.2026 03:32
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