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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The Scottish government is backing a scheme to expand the uptake of internet of things (IoT) devices by local government. A series of technology blueprints, funded by the Scottish government, have been developed by Scotland’s sensing and imaging innovation centre – called CENSIS – and the Digital Office for Scottish Local Government. The groups aim ... Read more ›
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Yanki Onen is the CEO and founder of Wamo, a digital business account provider and growth partner for SMEs. Onen launched Wamo in 2021 after experiencing first-hand frustration at setting up a business account. The startup’s target market is “underbanked” SMEs. In September last year, Wamo raised $1.5m (£1.2m) in a seed extension round, bringing ... Read more ›
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The Bank of England has said that neither it nor the government will be able to access user data related to the use of the upcoming digital pound. The UK’s central bank, along with the Treasury, confirmed on Thursday that if the digital pound – a state-backed cryptoasset – were to be implemented, legislation would ... Read more ›
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London-based investment firm Fuel Ventures has launched a £50m venture capital trust (VCT) to be listed on the London Stock Exchange. The VCT has been launched with support from Titan Alternatives Ltd and will target 30 investments in high-growth tech innovation over the next three years. The VC firm said funds from the VCT will ... Read more ›
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Equity crowdfunding platform is laying off 15% of its European workforce, equivalent to around 15 people. UK staff are among those being made redundant by the London-headquartered investment platform, although Seedrs did not disclose numbers. The company will remain active in all European markets, a Seedrs spokesperson told UKTN. Seedrs was acquired by US private ... Read more ›
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Kao Data, an Essex-based company that builds data centres for AI and advanced computing, has completed a £206m debt raise from Deutsche Bank. The funds from the Frankfurt-headquartered bank will support Kao’s plans to scale its AI data centres across the UK and Europe. The company said the new financing will fast-track its new contracted ... Read more ›
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In the face of burgeoning environmental concerns and a global push towards clean energy, the UK government has set a path towards mass electrification. All new cars are to be zero emission by 2035, and the shift is well underway, with EVs already accounting for 20% of overall car sales as of August 2023. Despite ... Read more ›
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A London-based startup that records live musical performances with studio quality has raised $760,000 (£596,000). Setmixer was founded in 2021 by Pascal de Mul, a long-time employee of the music technology industry, previously working as the global head of hardware partnerships at Spotify and the chief partnership officer at Deezer. The startup says its platform ... Read more ›
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Chancellor Jeremy Hunt has been urged to reconsider upcoming changes to angel investor thresholds over concerns that “female and underrepresented founders will be hit hardest”. In an open letter signed by the Startup Coalition, the Entrepreneurs Network and the UK Business Angels Association, among others, the chancellor was urged to reverse the upcoming change to ... Read more ›
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Business support agency London & Partners has expanded its global growth programme to Scotland and the West Midlands first time. The ‘Grow Global’ initiative will provide more than 100 scaleup businesses with support to increase their international presence. The one-year programme provides support via trade missions, workshops, events and networking opportunities. The programme has previously ... Read more ›
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The UK’s chief financial regulator has doubled down on his campaign for buy now pay later (BNPL) regulation to protect consumers. Speaking at Imperial College London Business School, Financial Conduct Authority CEO Nikhil Rathi restated that while BNPL offers some benefits to consumers it “poses a risk and needs regulation”. Rathi said that when it ... Read more ›
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Almost three-quarters (72%) of UK tech companies would favour an IPO in London instead of overseas, according to a new study. A survey of 2,500 companies conducted by equity management platform Ledgy found that the London Stock Exchange was the preferred float destination for tech firms, despite the recent narrative that the US is a ... Read more ›
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IMU Biosciences, a life science startup using AI to map the human immune system, has raised £11.5m in Series A funding. Founded in 2021, IMU Biosciences is building an ‘atlas’ for the immune system, with the goal of supporting diagnostics and drug development. The company’s CytAtlas platform combines systems-level immunophenotyping – a process to identify ... Read more ›
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Customer loyalty and CRM platform Embargo has raised $870,000 (£684,600) in a funding round featuring a Revolut executive and two professional basketball players. London-headquartered Embargo works with hospitality businesses to provide customer data to inform retention strategies. Businesses’ loyalty card programmes can be connected to the Embargo CRM and accessed by customers via the Embargo ... Read more ›
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Support network Tech Nation has revealed the startups selected for the 2024 cohort of the Libra programme, which aims to champion underrepresented founders. Now in its third year, Libra is a programme addressing the funding and support gap faced by ethnic minority founders. Tech Nation said that between 2009 and 2019, just 0.24% of all ... Read more ›
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Wayland Additive, a Huddersfield-based startup, has raised £4.2m to expand its electron beam 3D printing manufacturing business. Wayland Additive designs, develops and sells industrial 3D printing machines for markets including aerospace, mining, medicine, motorsports and defence. Wayland Additive claims its electron beam 3D printers, called Calibur3, can create geometrically complex products. The company operates in ... Read more ›
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Two-thirds of the UK believe the government do not understand emerging technologies – such as AI – enough to adequately regulate them, new research claims. The 2024 Edelman Trust Barometer – an annual mass survey of public opinion on various institutions – revealed that in the UK, there is considerable anxiety over the government and ... Read more ›
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The UK must not rely on immigration “in the long-term” for digital skills and ensure companies can draw from domestic talent, the tech secretary has said. Speaking to the UKTN Podcast, Michelle Donelan said: “It’s not good enough for us to just rely on the crutch of immigration in the long-term, because we want to ... Read more ›
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Concrete4Change, a Nottingham-based startup that captures and mineralises CO2 to develop sustainable concrete, has raised £2.5m. The startup is looking to drastically cut the levels of carbon dioxide present in the atmosphere by trapping it in concrete, which is in turn made stronger. The startup does this by capturing CO2 from the atmosphere with its ... Read more ›
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Last week Michelle Donelan, the secretary of state for science, innovation and technology, shared her ambition to make the UK a “scaleup superpower” and significantly increase the proportion of unicorns – startups valued at $1bn or more – based in the country. Speaking at our innovation centre Plexal – located on our Here East technology ... Read more ›
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17.06.2026 12:44
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