Even in a slowed-down macroeconomic climate, the funding deals never end in the worldâs third-largest tech industry. To help keep track of the deals that matter most, UKTNÂ is launching a weekly funding roundup every Friday. This week â 4 March to 8 March â includes funding rounds for digital banking giant Monzo, medtech startup Phagenesis, ... Read more âș
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The government has published a plan that aims to drive public and private investment into the space tech sector as part of its goal to make the UK a âscience and tech superpowerâ by 2030. The tech department this week published its Space Industrial Plan, building on the National Space Strategy (NSS) from 2021, as ... Read more âș
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I need to start with a confession. Today is International Womenâs Day, but it is a holiday that Iâve never really celebrated. In fact, Iâve never been a fan. As a journalist, IWD was always preceded with a flurry of emails from PRs proffering their female founder or CEO for interviews to tell me their ... Read more âș
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A biotech spinout from the University of Edinburgh developing RNA sequencing technology that could speed up drug development has raised ÂŁ8.5m in funding. Wobble Genomics claims its technology can overcome challenges for sequencing RNA, a molecule present in most living organisms and viruses. Challenges include RNAâs complex molecular structure and instability. Potential applications for Wobbleâs ... Read more âș
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Losses widened last year at London-listed biotech company Oxford Nanopore Technologies despite growing revenue for its life science research tools. Oxford Nanopore posted losses of ÂŁ154.5m for 2023, around 70% more than in 2022, prompting it to delay its forecast for breaking even to the end of 2027. Shares in the University of Oxford spinout, ... Read more âș
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Funding for women-founded startups in the UK last year was greater than in any other European nation, but gender investment disparity remains a major issue, according to new data. Tech firms with at least one woman founder in the UK secured âŹ3.9bn (ÂŁ3.3bn) in venture capital deals in 2023, more than double that of France, ... Read more âș
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Male-owned venture capital funds have received 10 times more LP capital than female-owned funds in the last six years in the UK. Itâs a shocking statistic, but unfortunately not an entirely surprising one. While more women are entering the sector, the report estimated that currently only 21% of senior roles within venture capital firms are ... Read more âș
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The tech policies announced during Wednesdayâs Spring Budget were generally welcomed by the tech community but a lack of radical changes left little to wow the industry. Items on Chancellor Jeremy Huntâs tech agenda included further funding for AI research and upskilling, an investment commitment to scale R&D and manufacturing, increased support for regional investment ... Read more âș
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Chancellor Jeremy Hunt has delivered the 2024 Spring Budget, with key tech policies including a reversal of angel investor rules, funding for AI and a ÂŁ360m R&D package. In whatâs likely to be the final fiscal event before a general election, the focus was on headline policies like cutting National Insurance for workers by another ... Read more âș
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Tech Secretary Michelle Donelan has apologised and paid damages to an academic she falsely accused of supporting Hamas. Donelan had previously called for the removal of two researchers from advisory roles at a public innovation body. The undisclosed damages will be covered by the taxpayer. In October, Donelan wrote to UK Research and Innovation (UKRI) ... Read more âș
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The UK leads the way in Europe for the proportion of venture capital funding invested in businesses with at least one founder who is a woman, according to a new report by Female Foundry. But with just 16% allocated to women-founded businesses, the fact that the UK performs better than all other countries in Europe ... Read more âș
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Theia Insights, an AI fintech startup providing information for financial professionals, has raised $6.5m (ÂŁ5.1m). Founded in 2022 by former Amazon Alexa scientist Dr Yu Tian, Theia Insights is a platform for investors that uses AI to generate risk models, portfolio analytics and industry classification insights. Named after the Greek goddess of sight, the Cambridge-based ... Read more âș
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A deep tech trade association has called on the Treasury to provide more support to the UKâs semiconductor sector to prevent it from falling behind other nations. Techworks, which represents the interests of 280 member companies, said the UK âoffers the lowest level of incentives to the semiconductor industry among the G7â. Ahead of the ... Read more âș
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Haiper, a London-based video generation AI startup, has emerged from stealth with $13.8m (ÂŁ10.9m) in funding as it looks to take on Midjourney and Sora. Founded in 2021 by two former researchers at Google DeepMind, Haiper has built a generative AI model that, like its rivals, creates video clips based on user prompts. Complex prompt-based ... Read more âș
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British fintech company Zilch is âpausingâ its US roll-out to focus on becoming profitable in its domestic market, UKTN can reveal. Zilch, which provides buy now pay later services subsidised by digital adverts, recently contacted US users to notify them it was closing all accounts as of 29 February. The notification said the London-headquartered firm ... Read more âș
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Monzo has confirmed a $400m (ÂŁ315m) funding round led by CapitalG â Alphabetâs independent growth fund â following media speculation. The fintech, which has become one of the largest digital banks in the UK with more than nine million users, has been valued at ÂŁ4bn following the injection of capital. The funding round was reported ... Read more âș
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The UK has agreed to boost science, tech and R&D collaboration with Saudi Arabia following a visit by Science Minister Andrew Griffith to the Middle East country. Griffith and Abdullah Alswaha, the chairman of the board of directors of the R&D and Innovation Authority, signed a memorandum of understanding in Riyadh this week. The two ... Read more âș
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In this weekâs UKTN Podcast, Innovate Finance CEO Janine Hirt discusses why Britain has historically shined in fintech, why regulatory clarity in crypto, BNPL and open banking is vital, and what needs to be done to tackle rising financial scams. Hirt has been with Innovate Finance, the UK fintech industry body, for the past nine ... Read more âș
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The risk of the UK losing tech darlings like Graphcore should come as no surprise to a country whose manufacturing sector has been shrinking for the last 18 months. Itâs time for self-reckoning, and for the UK to ask where its strength lies. Graphcore may have struggled to sell its Nvidia-rival chips, but letting its ... Read more âș
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Gridcog, a London-based climate software startup for planning and tracking energy transitions, has raised ÂŁ3.3m. Founded in 2020, Gridcog develops software for organisations undertaking clean energy projects. The platform simulates the process to inform decision-making on the right solutions and track progress. The platform accounts for market conditions, the performance of different energy types such ... Read more âș
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13.06.2026 10:06
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