The majority of companies backed by venture capital trusts (VCTs) are planning to expand overseas next year, new data shows. A survey of 119 growth companies that have received financial backing from VCTS found that more than 90% of respondents have set their sights on international expansion in 2024. VCTs are investment companies listed on ... Read more ›
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The government has launched a £1m prize for innovative AI-based solutions to support the energy sector, the environment and infrastructure. First announced in March during the Spring Statement, the Manchester Prize was created as part of the government’s ambition for the UK to take a leading role in the rapidly growing AI industry. The first ... Read more ›
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Harriet, an AI tool designed to automate human resources (HR) processes, has launched today backed by a £1.2m funding round. The London-based team has developed an AI assistant that can be incorporated directly into companies’ Slack channels that provides HR services. The machine learning tool scans users’ data as well as its policies and best ... Read more ›
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Embedded finance provider Liberis has secured $112m (£89m) in debt financing from HSBC Innovation Banking and BCI Capital to fund international expansion. Liberis, which builds tools to provide small businesses with accessible finance, said it will launch in Canada, Germany and Poland next year. The London-based firm works with companies to embed its finance tools ... Read more ›
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Deep tech incubator Science Creates has secured £8.5m to open a third facility in Bristol for spinouts operating in areas including quantum computing and bioengineering. The new incubator will be located at the Temple Quarter Enterprise Campus in Bristol and provide research and lab space to around 275 spinout companies. Investment for the incubator was ... Read more ›
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Chip maker Pragmatic has raised £182m to fund an expansion of its manufacturing facilities in a boost for UK semiconductor production. Cambridge-headquartered Pragmatic said it has secured £162m and has an additional £20m of capital allocated for a limited second close. In the short term, Pragmatic will use the influx of capital to build its ... Read more ›
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Octopus Money, the financial advice subsidiary of Octopus Group, has acquired a majority stake in divorce services startup Amicable. Founded in 2015, Amicable works with separating couples, offering an alternative to hiring legal representation. For a fixed fee Amicable provides legal advice, documentation and even emotional coping support in the form of a post-divorce meditation ... Read more ›
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UK startups backed by US finances have ceded too much control to investors across the Atlantic and as a result are losing digital talent, according to the head of OpenUK. In an interview with UKTN, Amanda Brock – chief executive of the open source advocacy group OpenUK – said that UK-based tech talent moving to ... Read more ›
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Oxford Metrics, the motion capture company behind the ABBA Voyage holographic tour, has bumped up its revenue by more than half thanks to a strong year for its recently launched Valkyrie system. The London-listed company, which has provided advanced camera systems for projects such as the film Titanic, posted revenue of £44.2m in its latest ... Read more ›
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HomeCooks, an online marketplace for independent chefs to sell ready-made meals to consumers, has secured $3.1m (£2.45m) in equity funding to continue its expansion across the UK. Joshua Magidson founded HomeCooks in 2020. Chefs or small businesses can cook pre-prepared meals in bulk and list them on HomeCooks’ marketplace. HomeCooks collects, freezes and delivers the ... Read more ›
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London-based cybersecurity startup Klarytee, which provides businesses with encryption tools for sensitive data, has raised £700,000 in pre-seed funding. Founded in 2021, Klarytee has built a software platform to keep companies’ data encrypted but still readily accessible to those who need it. Founder Dr Nithin Thomas said the inspiration for the company came from his ... Read more ›
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Matt Clifford, the prime minister’s representative at the AI Safety Summit, has stepped down as CEO of Entrepreneur First to focus on artificial intelligence full-time at the startup support and investment group. Entrepreneur First co-founder Alice Bentinck will take the reins as chief executive, Clifford announced on Monday. “I’ve believed for many years that AI ... Read more ›
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In the latest episode of the UKTN Podcast, Carbon13 founder and CEO Dr Nicky Dee explains why climate tech innovation is cause for optimism despite a lack of progress from initiatives like COP, unpacks why carbon offsetting is still the “Wild West” and reveals which climate solutions provide the “best bang for buck”. Carbon13 is ... Read more ›
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UK venture capital firms invested $1.1bn (£872m) in early-stage built world climate tech in 2023, the third-most in the world, according to new data. The UK is behind only the US and Germany for early-stage built world climate tech investment, which attracted $5.6bn and $1.4bn from VCs respectively. Built world climate tech refers to any ... Read more ›
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Last year, reports revealed that starting salaries for tech workers in the UK are more than 60% higher than the average pay. In spite of the cost of living crisis, many tech employees are able to put away some of their earnings as savings, make personal investments and use financial planning to make the most ... Read more ›
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Eurobank has invested €10m (£8.6m) and taken a minority stake in London-based money-saving and investment app Plum. The first tranche of the investment, worth €5m, was deployed in November. The rest of the investment is expected in the first quarter of 2024, as part of a €15m fundraise from Plum that will include additional investors. ... Read more ›
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An early-stage investment fund has received an additional £2m from investors to take larger stakes in life science startups. It brings Discovery Park Ventures’ total fund size to £3m. Investors in the fund and the startups it backs are primarily based at Discovery Park, a facility based in Kent that provides workspaces, labs and business ... Read more ›
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A judge has struck out an effort by Stability AI to have a copyright dispute brought by Getty Images thrown out. Justice Joanna Smith cast doubt over the evidence presented by Stability AI as part of its ongoing copyright case with Getty Images over training data. Stability, a generative AI company that competes with ChatGPT ... Read more ›
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The founder and former CEO of Manchester-based web hosting provider UKFast has been jailed for 15 years for committing two rapes and a sexual assault. Lawrence Jones was convicted in January this year of sexually assaulting a female employee on a business trip in 2013. He was found guilty of drugging and raping two women ... Read more ›
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Manchester-based fintech company Total Processing has been acquired by Irish payments platform NomuPay for $35m (£28m). NomuPay was formed out of the assets salvaged from the collapsed German fintech company Wirecard in 2021. Dublin-headquartered NomuPay provides an end-to-end payment platform. The company said it would integrate Total Processing’s merchant services, which include recurring payment collections ... Read more ›
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24.06.2026 05:27
Last update: 05:20 EDT.
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