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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Vitrue Health, a company looking to tackle chronic neck and back pain among office workers, has raised £3.2m. Launched in 2018, Vitrue Health is a digital platform for workplaces that uses computer vision and AI to offer preventative care for workers at risk of musculoskeletal conditions. The company works with the NHS as well as ... Read more ›
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TenU, the collaborative body for university tech transfer offices, has appointed Tim Haines, managing director of investment firm Abingworth as its chair. TenU represents the interests of 10 global university transfer offices, including Cambridge, Oxford, Imperial College London and UCL. Tech transfer offices are responsible for the commercialisation of university research, resulting in spinout companies. ... Read more ›
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Ocado posted a slight revenue bump and reduction in losses as the London-listed firm holds steady on its tech investments. The grocery delivery firm posted £2.8bn in revenue for 2023 across the group, a 10% increase from the year prior, while pre-tax losses fell from £471m to £418m. The group’s technology solutions, which have received ... Read more ›
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Embedded finance fintech Railsr has appointed former chancellor of the exchequer, Lord Philip Hammond, as its chair less than a year after being rescued from collapse. Railsr, which implements financial tools and services into client businesses, was once valued at almost $1bn before facing the brink of collapse last year. Railsr was ultimately acquired by ... Read more ›
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London-based payments startup Volt has been granted an EMI licence, allowing it to issue e-money accounts in the UK. Founded in 2019, Volt has established itself as a payments gateway, facilitating transactions between merchants and consumer bank accounts. The company has raised more than $80m (£63.3m), most recently securing £47m in its Series B round ... Read more ›
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London-based digital clearing bank and embedded banking unicorn ClearBank has appointed chief risk and compliance officer Emma Hagan as its new UK CEO. Founded in 2015, ClearBank provides both clearing bank services and an embedded banking API to financial institutions. The fintech became profitable towards the end of 2022 and boosted profits further in its ... Read more ›
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Sonichem, an East Midlands company that converts forestry by-products such as sawdust into renewable biochemicals, has raised £1.2m. Founded in 2010 as Bio-Sep, Sonichem is looking to replace the industrial reliance on petrochemicals, which contribute significantly to global carbon emissions. Rebranded in 2023 to focus more on its sustainability contributions, the company is developing alternative ... Read more ›
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Life-changing treatments are discovered in a laboratory, but they can’t reach patients without the investment community. Today is Rare Disease Day. Despite the term “rare,” approximately 300 million people worldwide live with such conditions. For many, there simply is no treatment. The UK has many great teams working together to conduct ground-breaking research. But with ... Read more ›
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Science Creates has launched the second iteration of its equity-free biotech accelerator programme, backed by the UK government and a handful of European and US VCs. The accelerator programme, funded through the UK Research and Innovation (UKRI) Technology and Missions Fund, will support the development of deep tech startups developing bioengineering technology. The scheme, open ... Read more ›
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Investment firms have been urged to increase their transparency regarding the gender breakdown of top positions. The recommendation came from the independent women-led high-growth enterprise taskforce, established in 2022 to identify the barriers for women in accessing high-growth capital and suggest solutions. In its newly published report, the taskforce – chaired by Starling Bank founder ... Read more ›
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Ever since Pav Gill blew the whistle on corrupt payments company Wirecard he has wondered why it fell to him to expose Germany’s largest case of corporate fraud. “What was the bigger purpose behind it?” he says. Now, the Singaporean lawyer believes he has found the answer to that self-reflection with a new startup for ... Read more ›
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Sheffield-based cybersecurity startup Sitehop has raised £5m to develop encryption tools for complex communication networks. Founded in 2021, Sitehop aims to address the problem of cybersecurity encryption slowing down communications networks. The company offers hardware-enforced encryption via its flagship product, SAFEblade 1100. Sitehop said it can support over 4,000 secure tunnels at once with encryption ... Read more ›
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For those who follow the UK tech sector closely, watching Arm‘s share price go from strength to strength has been a bittersweet experience. Sweet because Arm is a British company specialising in one of the single most important global technologies, and a fantastic example of the potential for world-leading technological capability the country possesses. Bitter ... Read more ›
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HACE, a Manchester startup flagging when companies are exposed to child labour in their supply chains, has raised £450,000 in pre-seed funding. Founded in 2020, HACE has built an AI-powered index that gathers data from listed firms in real time to monitor the likelihood of child labour being present somewhere in its supply chain. Estimates ... Read more ›
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Lapse, a recently founded social media platform looking to take on Instagram with filter-free pictures, has closed a $30m (£23.7m) Series A round. Lapse is a photo-sharing app that claims to be focused more on friends than followers. The company said its platform was inspired by the experience of disposable cameras, hosting unedited pictures taken ... Read more ›
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Mondra, a London-based food supply chain decarbonisation platform, has raised £3.6m in pre-Series A funding. Founded in 2020, Mondra is a software platform to record, monitor and share environmental data throughout the food supply chain. The company uses AI to create digital twins of food supply chains and provides tools to encourage participating organisations to ... Read more ›
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Innovate UK has awarded £500,000 in grant funding to support a project to develop lab-grown meat in the North East. Three groups in the North East – the Centre for Process Innovation (CPI) in Redcar and MarraBio and Aelius Biotech in Newcastle – will jointly receive funding to collaborate on the low-emissions food project. The ... Read more ›
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Enterprise software provider Sage has launched a generative AI productivity assistant to work alongside its HR and accounting tools. The explosion in popularity of generative AI has prompted dozens of tech firms to incorporate so-called “co-pilots” into their product offering. Microsoft has its ChatGPT-powered AI co-pilot, Salesforce launched Einstein GPT and now Newcastle software giant ... Read more ›
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Autonomous vehicle company Oxa has deployed its first commercial product, a passenger shuttle service in Florida, US. Founded in 2014 as Oxbotica, the company develops software for self-driving vehicles. Having raised £115m in a Series C round last year that included Google, the company has now launched its first commercial offering. Oxa Driver software will ... Read more ›
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Enterprise software provider Sage has launched a generative AI productivity assistant to work alongside its HR and accounting tools. The explosion in popularity of generative AI has prompted dozens of tech firms to incorporate so-called “co-pilots” into their product offering. Microsoft has its ChatGPT-powered AI co-pilot, Salesforce launched Einstein GPT and now Newcastle software giant ... Read more ›
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17.06.2026 07:01
Last update: 06:55 EDT.
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