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 UK’s space tech industry is at an exciting, albeit early, stage of development with companies scrambling to unlock the enormous potential of the final frontier. There are many possible applications of space-based technology, from communication and navigation to the military. One startup is aiming to use space to relieve the heavy burden of cancer ... Read more ›
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Crypto has found itself in a complicated space at the end of 2023. Just a few years ago, the alternative currency technology experienced unprecedented levels of growth, both in the value of assets like Bitcoin and in public awareness. Recent high-profile scandals, including the collapse of FTX, legal challenges against the CEO of Binance, and ... Read more ›
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Bristol and Bath’s tech sector represents one of the UK’s fastest-growing tech ecosystems, home to just under 5,000 tech companies with a 9% growth rate across the South West. With a cluster of world-leading research centres, both cities produce a high number of R&D-driven startups across a variety of sectors, including robotics, creative technologies and ... Read more ›
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Do you know your startups from your scaleups? Your large LLMs from your NLP? Have you been following the biggest stories in UK tech closely this year? Test your knowledge of the goings-on in UK tech in 2023 with the UKTN’s end-of-year quiz. All 10 questions relate to UK tech news events from 2023. For ... Read more ›
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It’s been a wild ride for the UK tech sector in 2023 in a year defined by downrounds, layoffs, collapses, regulatory battles and – of course – AI. Amid challenging economic headwinds, 2023 has also been a year of rebirth. HSBC Innovation Banking rose from the ashes of Silicon Valley Bank UK. Tech Nation has ... Read more ›
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The UK has made clear its intention to lead the world on AI regulation, with the prime minister going so far as to declare the nation the “geographical home of global AI safety”. The UK has made some early strides, notably hosting the first international summit on AI Safety in November, however, Rishi Sunak’s ambitions ... Read more ›
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UK electric vehicle (EV) developers received an early Christmas present from the European Union (EU), which extended tariff-free exports for the technology. The EU earlier this year intended to implement rules of origin regulations that would enforce a 10% tariff on EVs built in the UK which are exported to the continent. The original plan ... Read more ›
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Revolut hit $1.1bn (£923m) in revenue in 2022, a 45% increase from the £638m the year prior, according to the company’s belated accounts. Revolut’s revenue may have surged significantly but net profits for the year were down 78% from £26.3m in 2021 to £5.8m. The drop in profits was caused by a sharp increase in ... Read more ›
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It has been a slow year for the metaverse. After exploding into mainstream fame following Facebook’s rebrand to Meta in 2022, interest in the technology of bringing real life into a virtual world has waned in 2023. Many have taken this drop in interest and limited commercial success to mean the metaverse revolution had died ... Read more ›
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Brian Coburn is the founder and chief strategy officer of BR-DGE, a payments infrastructure company based in Edinburgh. Coburn founded BR-DGE in 2018. The payments orchestration platform acts as an intermediary between someone making a payment and other providers like PayPal or Stripe. BR-DGE connects to more than 300 technology and payment providers and expects to process ... Read more ›
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HSBC UK has increased the size of its tech scaleup investment vehicle, the Growth Lending Fund, by £100m to meet the growing demand. The Growth Lending Fund was launched last year with £250m as a response to government calls for greater investment into UK tech. The bank has now increased the size of the fund ... Read more ›
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Artificial intelligence (AI) cannot be considered an inventor, according to a unanimous decision from the UK Supreme Court. A UK judge said on Wednesday that only a person could legally be considered an inventor for the sake of securing patents. The decision was in response to a dispute between Dr Stephen Thaler and the Intellectual ... Read more ›
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Artificial intelligence has been the defining technology theme of 2023. Recent advancements, particularly in the field of generative AI, have launched the space to one of the most watched and best-funded sectors in all of tech. The AI boom has sparked questions around safety, productivity and – in the case of ChatGPT maker OpenAI – ... Read more ›
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In this bonus episode of the UKTN Podcast, HSBC Innovation Banking’s Simon Bumfrey shares how the lender rebranded from Silicon Valley Bank UK, what happened immediately after that “seismic” rescue weekend in March, and a look ahead to the big themes defining the tech ecosystem in 2024. Bumfrey, who is head of technology and life ... Read more ›
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Updraft, a fintech offering consumer lending and financial planning services, has raised £272m in a joint debt and equity round. Founded in 2017, Updraft aims to offer lower-cost credit options and provide tools that improve spending and savings habits. Updraft uses open banking to put customer credit data into a report that offers advice and ... Read more ›
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Getting AI regulation wrong could “affect the very fabric of our society” but getting it right could make the UK “pioneers” of humanity-changing technology, Britain’s newest minister for tech has said. Saqib Bhatti, who was appointed as minister for tech and the digital economy last month, said there is a considerable opportunity for the UK ... Read more ›
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Fiat Republic, a startup aiming to support cryptoassets’ transition to a mainstream payment type, has raised £5.5m in a seed extension round. Founded in 2021, Fiat Republic is a banking as service platform that provides crypto platforms with banking and payments APIs. Fiat’s platform means crypto companies can embed and automate fiat flows to their ... Read more ›
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It has been a challenging 2023 for fintech. Funding is down and a series of headwinds in the form of soaring inflation and stagnant global markets have made it a testing environment. This year has, in many ways, lived up to the muted expectations that came at the end of 2022. But there is a ... Read more ›
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The UK financial regulator has proposed simplified and more risk-friendly reforms to public listings in an effort to encourage more IPOs. The Financial Conduct Authority (FCA), after a consultation in May, has recommended simplifying the listing regime by introducing a single category for all participating companies, as opposed to the current system of standard and ... Read more ›
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Investment firm BGF has appointed the former chief executive of BT Group as non-executive chair. Ian Livingston, a Conservative member of the House of Lords, will assume the role of BGF chair from January 2024. In addition to BT, Livingston has previously held leadership roles at Dixons Group, Currys and private equity firm 3i. The ... Read more ›
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17.06.2026 16:43
Last update: 16:35 EDT.
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