The Manchester Prize has returned for its second year as the British government hopes to incentivise AI innovation in the clean tech sector with £2m of prizes. First announced by former chancellor Jeremy Hunt during the 2023 Spring Budget speech, the Manchester Prize is an annual competition for AI developers in the UK managed by ... Read more ›
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Starling Bank is inching towards an initial public offering (IPO) as the fintech advertises a group head of investor relations. The fintech unicorn is recruiting for a London-based role, which will “play a role alongside senior management, appointed advisors and underwriters to execute a successful IPO or other capital event”. The job description also said ... Read more ›
0
Fresha, a marketplace platform for beauty and wellness, has secured a $31m (£26m) venture debt facility from J.P. Morgan. Founded by William Zeqiri and Nick Miller in 2015, Fresha offers a subscription-free business software with embedded payment processing and a consumer marketplace. It helps beauty businesses, such as salons, barbershops, spas, and aesthetics clinics, streamline ... Read more ›
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In a saturated market, diversity is crucial for identifying innovative venture capital (VC) investments that cater to varied consumer groups and market ideas and is increasingly important as younger generations gain influence. However, even in today’s supposedly forward-thinking society, the evaluation of startups is often subject to bias associated with gender, race and more. With ... Read more ›
0
BeyondMath, a Cambridge-based AI company, has announced it has secured $8.5m (£6.5m) in seed funding. The round was led by UP.Partners, with participation from Insight Partners and InMotion Ventures, the investment arm of JLR. This funding will support BeyondMath’s mission to reshape engineering practices globally with its AI-driven multiphysics simulation platform. The company aims to ... Read more ›
1
Edinburgh-based training software management platform Administrate has secured a £3.05m funding round. The cloud-based platform is used by corporate clients to manage training operations and integrates with existing Learning Management Systems. Administrate, which raised £5m last year to support its expansion into the US, has also launched an AI scheduler to help enterprise customers automate ... Read more ›
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British imaging, language, code, and audio generative AI company, Stability AI, has appointed Hanno Basse as its new Chief Technology Officer (CTO). Basse has 30 years of experience working as a CTO, working with companies such as Digital Domain, a global visual effects and digital production company to integrate and implement new technologies. At Digital ... Read more ›
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A rocket engine at the UK’s first licensed vertical launch site in the Shetlands has exploded during a launch test. The explosion took place on Monday evening at the SaxaVord Spaceport in Unst, the northernmost island in the Shetlands, Scotland. This was part of a launch test conducted by the space tech firm Rocket Factory ... Read more ›
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This week’s UKTN Podcast guest is Maria Rotilu, founder and general Partner at OpenseedVC. In this episode, Rotilu discusses the thesis behind backing operator-led startups, and how Africa’s large, youthful population – combined with decreasing barriers to innovation – is positioning the continent as a valuable investment opportunity. Rotilu is an operator-turned-investor and founder, ... Read more ›
2
Against a backdrop of rising global temperatures, the new Labour government’s creation of the National Wealth Fund is an important step in accelerating the UK’s green transition. The fund’s blended finance model – providing debt and equity funding – will channel £7.3bn of public cash into low-carbon projects. The hope is that the fund will ... Read more ›
2
During the fundraising process for Polari Group’s $539,000 (£417,000) pre-seed round, the sex tech startup faced “challenges” from the VC world. Sex has long been a taboo area for many VCs, but the startup’s founders say their focus on anorectal health has created extra hurdles requiring additional education for investors. Polari Group is developing a ... Read more ›
0
Earlier this month, the government scrapped £1.3bn of funding for AI and technology projects, including the £800m ‘exascale’ supercomputer that the previous administration said would accelerate AI, medicine and low-carbon energy innovation. The news is brighter for private investment. UK AI startups have raised $2.1bn in investment so far in 2024, which is almost as ... Read more ›
0
Trumpet, a B2B sales software platform used by companies such as OpenTable, has raised $6.35m (£4.9m) in seed funding. Founded in 2021 by Rory Sadler (CEO), Nick Telson-Sillett (CMO), and Andrew Webster (CPO), the London-based startup enables revenue teams to centralise the entire buying journey, from pitch to renewal, into one shared workspace. The aim is ... Read more ›
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Revolut has confirmed plans to launch a secondary share sale valuing it at $45bn (£35bn) as the Treasury reportedly looks to court the fintech into a London listing. The secondary share sale, which will give Revolut staff the chance to sell shares to investors including Coatue, D1 Capital Partners and Tiger Global, was rumoured to ... Read more ›
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This week’s UK tech funding deals include radiology workflow management software firm Hexarad, hydrogen energy-harvesting boat maker DRIFT Energy and more. UKTN tracked £67m worth of UK tech investment this week (12 August to 16 August), an 8% week-on-week decrease across eight funding rounds. Here’s your weekly roundup of UK tech startup funding deals. Encord ... Read more ›
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Slava Kremerman is the co-founder and CEO of Zen Educate, a startup connecting schools with available substitute teachers via its platform. Founded by Kremerman with Oren Cohen, the startup says it has tripled in size year-on-year since its 2017 launch. Substitute teachers looking for roles in the UK submit information to the Zen Educate app. ... Read more ›
2
Monzo has once again been named the number one bank for customer satisfaction in the Competition and Markets Authority (CMA) league table. The latest rankings, based on a survey conducted by the UK regulator, have put the challenger as the top personal and business bank account provider, beating out legacy competition. Monzo has been ranked ... Read more ›
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Hexarad, a London-based startup supporting overstretched NHS radiologists with a teleradiology software platform, has raised £11m in funding. Swiss-based growth equity firm MTIP led the round, with investment also coming from existing shareholders, including the Foresight Group. Founded in 2016 by a group of NHS consultant radiologists, Hexarad provides workflow management software to optimise imagining ... Read more ›
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Nottingham-based startup Promethean Particles has secured an £8m Series A investment to scale manufacturing of its advanced materials for carbon capture. Founded as a spinout from the University of Nottingham, Promethean Particles manufactures metal-organic frameworks (MOFs), a material made of interconnected metal ions and organic molecules. The high surface area and porous structure of MOFs ... Read more ›
2
Anyone regularly using social media services in the past year will have noticed the skyrocketing volume of AI-generated art. Sites like Facebook and X, formerly Twitter, have become inundated with AI-made pictures of houses, idyllic scenery and, bizarrely, depictions of Jesus Christ as an underwater crustacean. For many users, there is a negative gut reaction ... Read more ›
1
AI voice cloning unicorn ElevenLabs has opened a new London office, designated as its European HQ and centre for worldwide operations. The new office, in Soho’s Wardour Street, will be the new base for ElevenLabs’ 20 London staff, with plans to double its headcount in the UK capital within six months. The company has always ... Read more ›
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Most popular sources
Business Insider
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29% 0 |
Tech Wire Asia
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9% 4 |
The Verge
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8% 1 |
Tom's Hardware
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5% 1 |
CNET
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5% 1 |
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27.11.2024 18:27
Last update: 18:12 EDT.
News rating updated: 01:20.
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