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 assets of failed events startup Pollen have been sold for just under £158,000, with administrators moving the company once valued at £632m into liquidation to continue an investigation into its operations. StreetTeam Software Limited – trading as Pollen – was issued a winding-up order in a Birmingham court on 18 December 2023 owing more ... Read more ›
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The Development Bank of Japan (DBJ) is set to back the $200m-300m third fund of UK life science investment firm 4BIO Capital. Announced today, the DBJ – a development bank owned by the Japanese government – has entered an agreement to finance the final close of the UK-based 4BIO Ventures III fund, alongside Japanese pharmaceutical ... Read more ›
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Glasgow is aiming to become the largest internet of things (IoT) innovation hub in Europe following the launch of a £2.5m public-private sector partnership. The initiative will provide public funding for a new facility called “thebeyond” at SkyPark, Finnieston in Glasgow, which will provide 250 desks and a lab space for startups developing “smart things” ... Read more ›
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The UK subsidiary of troubled US co-working startup WeWork posted a comprehensive loss of £123m for 2022 and revealed it owes the parent company £731m. WeWork International, the London-based subsidiary of the New York firm that filed for bankruptcy last year, reduced its losses by just 14% compared with the year prior as the recovery ... Read more ›
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Bumper, a fintech providing buy now pay later payment options for car repairs, has raised £40m in a funding round featuring backing from Porsche and Jaguar Land Rover. Founded in 2013, Bumper gives garages and dealerships the option to spread the cost of car repairs for customers into interest-free payments. The Sheffield-headquartered company’s clients include ... Read more ›
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Nearly a quarter of buy now pay later (BNPL) users in the UK have missed payments in the last six months as regulation of the loan product remains limited. Research from the charity the Centre for Financial Capability found that 22% of UK BNPL users had missed one or more payments, with many incurring late ... Read more ›
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Ecommerce platforms that allow people to sell second-hand goods will be required to report user earnings to HM Revenue and Customs (HMRC). The new policy aims to secure tax revenue on income from the ‘side hustle’ of selling used goods on platforms like Depop, Etsy, eBay, Amazon and Vinted. Sellers making more than £1,000 a ... Read more ›
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HSBC will take on the likes of Wise and Paysend with the launch of its new multi-currency payments app Zing. The London-headquartered bank said Zing allows customers to hold 10 different currencies and access low-cost international transfers and foreign spending in over 30 currencies. HSBC will compete with the fintechs that popularised the modern cross-border ... Read more ›
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London-based fintech Monese has warned that its operations could be “severely affected” should it fail to secure future funding after its latest reports revealed heavy losses. Monese, which offers multi-currency accounts and money transfer services, posted a loss of £30.5m in accounts for the year ended 31 December 2022, a 63% increase from the year ... Read more ›
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The founding CEO of Tech Nation is among the technology figures recognised in the King’s 2024 New Year Honours list. Gerard Grech, who led the startup support network Tech Nation for over a decade until it closed in March last year, has been awarded a CBE for services to the technology sector. Grech currently leads ... Read more ›
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Chase UK is targeting profitability by 2025 as it looks to establish itself as a key player in British finance, according to the digital bank’s managing director. The JP Morgan-owned digital bank launched in the UK in 2021 and amassed more than one million users in its first year. Ready to cement its position as ... Read more ›
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Microsoft president Brad Smith has dialled back the criticism he directed at UK regulators last year in which he declared the country “closed for business”. Speaking on the BBC’s Today Programme, Smith said he felt the Competition and Markets Authority (CMA) was “tough and fair” in its handling of Microsoft’s attempts to acquire gaming giant ... Read more ›
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What can startup founders do to make their companies as attractive as possible to investors in those crucial but sometimes daunting funding rounds? First and foremost, fundraising is a critical process that requires timely action. The optimal period to commence fundraising activities is when a company has a cash runway of eight to 12 months. ... Read more ›
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Bristol and Bath are thriving tech hubs, producing local success stories including Graphcore and Open Bionics and attracting capital from investors with dedicated strategies in the two South West cities. Given the region’s strength in commercialising academic research, it’s no surprise that the Bristol region received the most Innovate UK grant funding in 2022 compared ... Read more ›
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With the news agenda consumed by war in the Middle East and last month’s boardroom drama at OpenAI, you could be forgiven for having missed the release of the government’s Advanced Manufacturing and Battery Strategies. While the reports were published without fanfare, both are important policy issues for the UK’s future competitiveness and our ability ... Read more ›
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It has been a mixed year for the UK’s health tech sector. VC investment into health tech startups stalled at similar levels to 2022 (a 37% drop from 2021), and a report highlighted an urgent need for intervention to ensure the UK can match the support for health tech companies offered elsewhere in the world. ... Read more ›
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Patrick Smith is the founder and CEO of Zally, a cybersecurity startup aiming to make passwords obsolete. Founded in 2022, Zally replaces traditional text-based passwords with “advanced behavioural biometrics and AI”. Passwords are often a weak point in cybersecurity, accounting for 90% of data leaks. The pre-revenue startup says its technology can authenticate users with ... Read more ›
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A year marked by economic difficulty is drawing to a close with a more positive outlook for 2024. Inflation is down and there are strong signs of economic recovery. However, one recent policy decision has cast uncertainty on the UK’s ability to attract the talent needed to sustain this recovery – the government’s latest immigration ... Read more ›
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This year began with high hopes for the UK space tech sector, only for them to come crashing back down to Earth after the failure of Virgin Orbit to become the first orbital launch from British soil. Despite that setback, there is optimism that the UK’s nascent but rapidly growing space tech sector will reach ... Read more ›
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On the fourth floor of an unassuming-looking building near London, a biotech startup is developing ways to replace petrochemical products with sustainable alternatives. Walking into the office, like any other you are greeted with rows of desks. But on the far side of the room sits a laboratory behind floor-to-ceiling glass panels. Inside the laboratory, ... Read more ›
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17.06.2026 15:51
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