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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UK fintech funding fell by a steeper rate than the global average in 2023 but retained its second place for investment globally. UK fintech funding decreased by 66% last year to $5.1bn (£4bn). The funding was spread across 409 deals, down from 592 deals in 2022. Globally, fintech companies secured $51.2bn in 2023 – a ... Read more ›
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Revolut is facing a legal challenge potentially worth millions due to its storage of user biometric data in the US. Court documents from Illinois revealed a class action complaint has been made against the London-based fintech to “put a stop to its unlawful collection, use and storage” of “sensitive biometric data”. The plaintiff, Tina Haralampopoulos ... Read more ›
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Digital identification startup Yoti has raised £20m from HSBC and shareholders to support its goal of securing profitability. The funding was split between £12.5m of debt funding from the international bank and a further £7.5m of convertible debt funding from existing shareholders. Founded in 2014, Yoti has become one of the most well-funded companies in ... Read more ›
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Climate tech was the leading sub-sector for UK startup funding last year amid signs that VC funding activity is recovering. Last year UK startups raised $21.3bn (£16.8bn) across all tech sub-sectors, the UK’s third-best year for VC funding and behind only the outlier years of 2021 and 2022 when interest rates were at record lows. ... Read more ›
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The UK must embrace a regional and grassroots approach to tech policy to unlock economic growth, a report has found. The UK Tech Cluster Group (UKTCG), an organisation representing tech hubs from every nation and region, has called on the government to adopt “Four Big Ideas”. They include improving tech talent pipelines across the UK, ... Read more ›
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Ofcom is preparing to ramp up enforcement of the Online Safety Act by hiring hundreds of additional staff, including from Big Tech firms. The Online Safety Act, which became law in October last year, is the British government’s bid to make the internet a safer place by setting stricter standards of conduct on social media ... Read more ›
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Wrexham-based Chetwood Financial has appointed a new chief operating officer (COO) to oversee the digital bank’s commercial strategy. Julian Hynd brings over 30 years of experience in financial services. He has previously held senior positions at Ford Credit Europe and Volkswagen Financial Services, among others. Chetwood Financial was founded in 2016 and is targeting underserved ... Read more ›
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Cirata, formerly WANdisco, is targeting cash flow breakeven at the end of the 2024 financial year following a turnaround of a fraud scandal that led to the near-collapse of the data company. The Sheffield and California-headquartered firm reported sequential growth in bookings from Q2 to Q4 in 2023 for both data integration and application lifecycle ... Read more ›
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Automated ecommerce management software startup Patchworks has raised £2m in a follow-on investment from Gresham House Ventures and senior shareholders. Founded in 2014, Patchworks develops software that can be integrated into ecommerce systems such as shopfront, ERP and CRM. Online shopping brands can use the tool to automate and manage the flow of data across ... Read more ›
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Zilo, a fintech developing asset and wealth management software, has announced a £25m Series A funding round. Founded in 2020, Zilo is aiming to replace legacy approaches to transfer management, which is the process for overseeing investments and assets. These services are typically provided by banks, trust companies and similar institutions. However, Zilo is building ... Read more ›
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Spinouts from Newcastle University secured a record £40m from investors in 2023, new data has shown. The investment was split across 16 Newcastle University spinouts hailing from sectors including digital tech, life sciences and sustainable engineering. More than half the 2023 Newcastle spinout investment was secured by Advanced Electric Machines. In November the electric vehicle ... Read more ›
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Health tech company Genomics PLC has raised £35m to develop its risk estimation technology for the prevention of common diseases and cancers. Formed at the University of Oxford in 2014, the spinout has created proprietary algorithms and databases to link small variations of genomes across large datasets to generate risk assessments for health issues across ... Read more ›
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Orbex has appointed a new CEO and executive chair as it prepares to launch the first vertical rocket from the UK mainland. Phillip Chambers brings more than two decades of experience scaling technology companies – including Gumtree and Peakon – to the Orbex CEO role. Miguel Belló Mora joins Orbex as executive chair from the ... Read more ›
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The Venture Capital Trust Association (VCTA), the UK industry body for VC investments, has appointed Chris Lewis as its new chair. VCTs are investment funds that target young, high-growth companies and come with tax incentives for participating investors. The VCTA represents twelve of the largest VCT managers in the UK, making up 90% of the ... Read more ›
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The manufacturing sector in Wales has undergone significant transformation, evolving from its focus on mining in the 19th century to create a diverse range of tech-focused and tech-enabled manufacturing hubs today. A number of global corporations have manufacturing facilities in Wales, including Airbus, General Electric, Toyota, Tata Steel and Sony. Increasing capabilities for factory automation, ... Read more ›
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Kick ICT, a Scottish information technology service provider, has secured a “significant investment” from LDC, a private equity investor that is part of Lloyds Banking Group. The new investment from LDC marks the successful exit from previous Kick ICT backer Business Growth Fund (BGF), which invested £8.7m into the company in November 2021. BGF said ... Read more ›
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Small business lender Capital on Tap has appointed Damian Brychcy as CEO. Outgoing CEO David Luck, who co-founded Capital on Tap in 2012, will assume the role of executive chairman. Brychcy previously served as promoted chief product officer and comes from a legal background. He takes the CEO role effective immediately. “From day one of ... Read more ›
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Despite volatile times in tech last year, software engineers have plenty of reasons to be optimistic about 2024, with plenty of interesting tech jobs and new opportunities available. According to Deloitte’s Tech Trends 2024, the most forward-thinking tech companies are empowering engineers with a shift in focus from DevOps to DevEx/DX, meaning developer experience of ... Read more ›
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Two founding members of a task force to support women entrepreneurs in fast-growth business have resigned, as revealed by government minutes. The latest meeting revealed that Alex Depledge, founder of architectural platform Resi, and Emma Sinclair, founder of corporate management software company Enterprise Alumni, stepped down from the task force. The women-led high-growth enterprise task ... Read more ›
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Dr Angie Ma is the co-founder of Faculty, a company that builds custom enterprise AI solutions. Ma founded Faculty with Dr Marc Warner and Andy Brookes in 2014. The London-based firm began as a fellowship to help STEM PhD and masters graduates move from academia to a career in data science. It now provides software ... Read more ›
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17.06.2026 15:24
Last update: 15:15 EDT.
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