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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A quarter of those over 55 plan to start their own business in 2024, according to research by Virgin StartUp. Of the 2,000 UK adults surveyed, 32% of Brits aged 55 or over said they have been thinking about starting a business this year. Nearly a quarter – 23% – have already taken steps to ... Read more ›
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Bristol-based biotech startup CellVoyant has secured £7.6m in funding to commercialise its imaging technology that uses AI to predict the behaviour of live stem cells. Founded in 2021 as a spinout from the University of Bristol, CellVoyant has created a patent-pending platform that extracts information from “hundreds of millions of cells within complex mixtures”. This, ... Read more ›
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The climate emergency is one of the most pressing issues of our time. It is no surprise, then, that when asked about it ahead of COP28, six in 10 Brits viewed it as a top concern. This makes it the fourth most important issue after the cost of living, the NHS, and the economy. The ... Read more ›
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The science and technology secretary is aiming to make the UK a “scaleup powerhouse” and increase its proportion of tech unicorn companies across Europe. In a speech to tech industry leaders outlining her department’s priorities for 2024, taking place later today in east London, Michelle Donelan is expected to say that the UK has “the ... Read more ›
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An agreement for Fujitsu to support Greater Manchester’s advanced manufacturing investment zone is in question over the Japanese IT giant’s role in the Post Office scandal. The Greater Manchester Combined Authority (GMCA) signed an “exploratory partnership agreement” with Fujitsu in December during a trade mission to Tokyo. It will explore ways to apply Fujitsu’s “technical ... Read more ›
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London-based Thema has launched a venture fund platform to provide capital and support to investors looking to create a standalone VC fund. Thema will act as a cornerstone limited partner in new funds, writing tickets of up to £5m and providing operational support. Thema’s focus is pan-European. The VC fund investor said its “all-in-one package” ... Read more ›
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Detected, a fintech onboarding startup, has raised $2.5m (£2m) in a follow-on investment round from Thomson Reuters and Love Ventures. Founded in 2020, Detected is a software platform for onboarding fintech customers. The platform is comprised of a case management dashboard that aims to display customer profiles simply and clearly. Based in London and New ... Read more ›
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The majority of research and development (R&D) tax credit claims were disputed or rejected last year, according to new research. R&D tax credits are part of a government scheme to incentivise innovation. They offer companies tax relief on investments in developing new technologies. Last year, 59% of R&D claims were either challenged or declined, according ... Read more ›
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AI roles now make up more than a quarter of tech jobs advertised in the UK, according to new research from Thomson Reuters. The current boom era of AI, ushered in by generative technologies like ChatGPT, has put major pressure on tech companies to embrace what many are projecting will be an era-defining technology. Newly ... Read more ›
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The UK will publish a series of tests to determine when and how to legislate AI technology, according to reports. The government is set to clarify its criteria on what developments would be required for it to push for new laws governing AI, according to a report from the Financial Times. The tech department has ... Read more ›
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Japanese IT company Fujitsu’s market valuation has dropped by more than $1bn since December as outrage over its role in the Post Office scandal continues. A recent drop in Fujitsu shares has left the company with a market capitalisation of $27.09bn, down from the $28.41bn just one month prior amid scrutiny of Fujitsu’s other UK ... Read more ›
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The UK’s data protection regulator has fined food delivery company HelloFresh £140,000 for sending millions of spam emails and texts. Over a seven-month period the recipe box firm sent 79 million spam emails and 1 million spam texts, according to the Information Commissioner’s Office (ICO). The Gousto rival has been issued the fine because customers ... Read more ›
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Dr Muhunthan Thillai is the CEO and co-founder of Qureight, a company that has developed software to analyse clinical images, data and biomarkers. The Cambridge-based tech firm works with pharmaceutical companies, hospitals and research organisations. Qureight’s algorithms structure data from clinical trials to provide insights that can improve treatments and speed up the drug approval ... Read more ›
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London-listed review platform Trustpilot has said it expects revenue for the 2023 financial year of $176m (£137m), which would represent a 17% year-on-year increase. Trustpilot, which is headquartered in Copenhagen, Denmark, said it profitability is ahead of expectations for the year and has commenced a £20m share buyback programme. It has entered into an agreement ... Read more ›
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The world’s largest tech companies will soon face stricter competition requirements in the UK, including algorithmic transparency and supporting competitors’ products. The Competition and Markets Authority (CMA) today published its policy paper outlining how it will approach its expanded role in regulator large tech companies, following a request from ministers. The goal of the new ... Read more ›
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Shares in cybersecurity company Darktrace jumped by as much as 10% today as the firm posted annual recurring revenue growth of nearly 25%. In its latest trading update, London-listed Darktrace reported that ARR for the six months ended 31 December 2023 increased by 24.3% to $701.7m (£550.9m). The Cambridge-headquartered company said the growth was down ... Read more ›
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British insurtech company Hyperexponential has secured $73m (£57.3m) funding in a Series B round backed by Silicon Valley investor Andreessen Horowitz. Hyperexponential provides modelling software to insurance companies to determine policy prices. Its pricing intelligence tools are used by the likes of Aviva and Conduit Re during underwriting. The all-equity round was led by investment ... Read more ›
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NumberEight, a startup using AI to deliver consumer behaviour insights to advertisers, has raised $2.7m (£2.1m). Based in London, NumberEight has developed an AI tool to detect the behaviour of device users for advertisers, which can use the information to send personalised ads without needing cookies. “Against the current zeitgeist of increasing privacy regulations and ... Read more ›
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Furbnow, a climate tech startup in Birmingham retrofitting homes to reduce carbon emissions, has raised £950,000 in pre-seed funding. Founded in 2022, Furbnow was launched to reduce the carbon impact of the average household. According to the Committee on Climate Change, homes account for approximately 20% of carbon emissions and a study from the Buildings ... Read more ›
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The UK tax authority has issued warnings to millions of people holding cryptocurrencies that self-assessment tax returns must be submitted for crypto gains. HM Revenue and Customs warned that income from cryptocurrencies above the tax-free allowance must be declared to avoid paying late filing penalties and interest charged on the amount owed. Research from the ... Read more ›
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17.06.2026 14:23
Last update: 14:15 EDT.
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