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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Theia Insights, an AI fintech startup providing information for financial professionals, has raised $6.5m (£5.1m). 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 ›
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A deep tech trade association has called on the Treasury to provide more support to the UK’s semiconductor sector to prevent it from falling behind other nations. Techworks, which represents the interests of 280 member companies, said the UK “offers the lowest level of incentives to the semiconductor industry among the G7”. Ahead of the ... Read more ›
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Haiper, a London-based video generation AI startup, has emerged from stealth with $13.8m (£10.9m) 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 ›
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British fintech company Zilch is “pausing” 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 ›
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Monzo has confirmed a $400m (£315m) funding round led by CapitalG – Alphabet’s independent growth fund – 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 £4bn following the injection of capital. The funding round was reported ... Read more ›
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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 ›
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In this week’s 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 ›
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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. It’s 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 ›
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Gridcog, a London-based climate software startup for planning and tracking energy transitions, has raised £3.3m. 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 ›
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Manchester-based Phagenesis has raised £33.1m in funding for its medical device providing treatment for a common effect of brain injuries. Phagenesis has developed a neurostimulation system to treat swallowing dysfunction, a common effect of brain injuries. The company’s product targets and restores the neurological components of swallowing coordination that can be disrupted due to brain ... Read more ›
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The Treasury has announced a £360m public and private sector funding package for UK R&D and manufacturing ahead of the Spring Budget. The funding will go towards expanding the R&D and manufacturing capabilities in the life science, automotive and aerospace sectors. The Monday announcement is part of a host of tech and business policies announced ... Read more ›
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The chancellor is set to reverse the increased wealth threshold for angel investors following widespread industry backlash. At the end of January, the Treasury implemented changes to financial promotion rules that raised the required income threshold to qualify as a high-net-worth angel investor from £100,000 to £170,000. The change was met with outcry from the ... Read more ›
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This budget week will likely be the last before a general election that, regardless of the outcome, will herald significant change. As we all know, Britain faces huge challenges. There’s a major growth challenge, there’s a cost of living crisis, and public services are in trouble for both the public and businesses who use them. ... Read more ›
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Wootzano, a Newcastle-based startup developing crop harvesting robots, is expanding into Malaysia via a partnership with New York-listed consultancy firm VCI Global. The partnership, valued at more than £30m, will see Wootzano’s harvest robots deployed across the landscape of Malaysia in one of the startup’s first international expansion projects. Wootzano’s robotic farming solutions use advanced ... Read more ›
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The methods used by tech companies to train the majority of generative AI models are likely to be “illegal”, according to a senior executive who stepped down from British startup Stability. Ed Newton-Rex, who recently resigned as VP of audio at London-based AI unicorn Stability over ethical concerns, told UKTN that the “jury is still ... Read more ›
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The chancellor is gearing up to deliver the Spring Budget on Wednesday in what is likely to be his last fiscal event before the general election. Jeremy Hunt will be on a mission to woo the electorate, with polls suggesting the Conservative Party has something a mountain to climb to retain power. The Labour Party ... Read more ›
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Today we are announcing that we’ll soon be launching UKTN+ to provide subscriber-only journalism on the UK’s tech ecosystem. I’ll explain what that package includes and what it means for readers, but first I want to explain why we are making the move to a paywalled publication and reflect on some of the industry-specific journalism ... Read more ›
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The government has never prioritised the levelling up agenda and developing the North, according to Manchester-based venture capital investor Jess Jackson. Speaking on the UKTN Podcast, Jackson, who is an investment manager at northern VC firm Praetura Ventures, said there had been misleading messages of levelling up from the various Conservative governments since the policy ... Read more ›
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Andrew Orrock is the CEO and co-founder of IOTICs, a deep tech company that has created tools for cross-organisation data sharing. Its technology has been deployed across various sectors, including defence and transportation. IOTICS says its technology is often used by commercial rivals where trusted data sharing is required to solve business challenges. Orrock co-founded ... Read more ›
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Over the past six years, the UK has seen a quiet revolution in its payments industry, and another could be on its way. Since the start of 2018, customers have been able to tell the UK’s nine largest banks and building societies to securely share their personal transaction data with trusted third parties. Known as ... Read more ›
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17.06.2026 07:12
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