UK-founded crypto exchange Blockchain.com has closed a $110m (£88m) investment round that has halved the valuation of the unicorn. The Series E round, which was led by Kingsway Capital, has valued the company at less than $7bn, a sharp drop compared to the $14bn valuation the company received following a funding round from March of ... Read more ›
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Prime Minister Rishi Sunak has reshuffled his cabinet, spurred on by intense pressure against the former home secretary, Suella Braverman, who was sacked after she wrote an unauthorised opinion piece bashing the Metropolitan Police for their handling of protests. The unexpected return of David Cameron to government may have taken centre stage, but there has ... Read more ›
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Pharmaceutical and biotech giant and Covid-19 vaccine maker Pfizer will cut around 500 UK jobs in a cost-cutting move affecting its Kent facility. The New York-headquartered drug firm will axe its pharmaceutical sciences small molecule plans at its facility in Sandwich, where the firm employs about 940 people. First established 69 years ago, the Sandwich ... Read more ›
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When I founded iONLINE ISP Ltd 18 years ago, the tech landscape was a far cry from what it is today. Back then, BlackBerry was the hottest mobile device, MySpace was huge, and YouTube had only just entered the scene. If you needed to pay for something, you reached for cash, wrote a cheque, or ... Read more ›
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Money transfer firm Wise has more than tripled its profits in its latest financial results thanks to an interest rate boost. Wise, which facilitates the transfer of funds internationally, posted £114m of profit, a 247% increase from the £32.9m made in 2022. The profit surge was down to a significant boost in revenue from £559.9m ... Read more ›
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British Business Investments (BBI) pre-tax profits dropped by 80% in the group’s latest full-year results. As the investment subsidiary of the state-backed British Business Bank, BBI’s focus is on supplying funds to SMEs to boost the UK’s startup ecosystem and deliver commercial returns. In the group’s full-year results for the period ending 31 March 2023, ... Read more ›
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Maven Capital Partners has led a £3.1m investment round into Belfast-based wireless sensor company Sensoteq. Established in 2016, Sensoteq has developed a range of sensors used to monitor industrial machinery’s temperature and vibration, which can be analysed remotely through the firm’s software. The sensors have applications in various sectors such as renewable energy, pharmaceuticals and ... Read more ›
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The Secretary of State for the Department for Science, Innovation and Technology (DSIT) Michelle Donelan has called on the US to fall in line with the UK’s recent online safety legislation. Speaking at the Family Online Safety Institute (FOSI) annual conference in Washington DC, Donelan said the US should follow the example of the Online ... Read more ›
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Paul Scully has been sacked from his role as minister for tech and the digital economy as part of Prime Minister Rishi Sunak’s cabinet reshuffle. The MP for Sutton and Cheam has also lost his position as minister for London. During his tenure at the department for tech, the MP worked on the Online Safety Bill, ... Read more ›
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Fnality International, a fintech startup which provides digital payment infrastructure, has secured £77.7m in a Series B round led by Goldman Sachs and BNP Paribas. Founded in 2019, Fnality is looking to build tokenised versions of currencies backed by funds held in central banks. Among the intended benefits of Fnality’s blockchain-based system is the simplification ... Read more ›
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Finding suitable talent and competition with rival companies are the greatest challenges for European impact CEOs in 2024, a new survey has found. The survey of 1,250 CEOs in Europe, conducted by impact business community Unreasonable, found that sourcing talent and competing with peers each received 27% of the votes for the top challenges in 2024. ... Read more ›
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In this week’s UKTN Podcast, Music For Pets founder Amman Ahmed reveals how he built a successful brand from nothing to a life-changing exit. Ahmed launched Music For Pets as a side project with business partner Ricardo Henriquez in 2017. The pair researched how music can have a therapeutic effect on anxious and overly excited animals. ... Read more ›
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Economics 101 will tell you to study the gap between supply and demand. Where supply is low and demand is high, there is a clear market opportunity. Globally, there are approximately four billion women in the world and yet historically, women’s health has been underserved, underfunded and underrepresented. It is strikingly clear that not enough is ... Read more ›
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George Freeman has resigned as the minister for science, research and innovation amid Prime Minister Rishi Sunak’s cabinet reshuffle. Freeman, who was reappointed as science minister by Sunak in October 2022, said he was stepping down to focus on “health, family wellbeing and life beyond the front bench”. The MP for Mid Norfolk was first ... Read more ›
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University College London spinout ViaNautis has raised £20m in Series A funding to use nano-engineering technology to deliver treatments to hard-to-reach areas of the body. Previously known as SomaServe, ViaNautis has created a method to deliver molecule-sized treatments to areas such as brain cells and the lungs. ViaNautis says its platform – called ‘polyNaut’ – ... Read more ›
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Hong Kong has a pro-business administration and well-developed infrastructure that makes it a perfect foothold for UK tech companies not just in China, but in the wider Asia Pacific region. Like many British tech founders, my engagement with Hong Kong began in part due to the sophistication of doing business in Asia Pacific. I’ve been ... Read more ›
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More than a third of British digital SMEs say that a lack of technically skilled candidates is a major barrier to growth, according to a new report. A survey of 816 SMEs from the Federation of Small Businesses (FSB) found that 38% of companies in the IT sector reported that hiring appropriately skilled staff was ... Read more ›
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Scottish climate tech company Mocean Energy has scooped £2.7m in new funding for its technology that harnesses wave energy to provide electricity. Mocean Energy has developed a hinged raft that floats in the sea. One device has been designed to power subsea applications such as underwater vehicles, while another much larger version can provide electricity ... Read more ›
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Open source advocates in the UK have called on the government to ensure AI technologies have sufficient access to public data to support the growth of the UK AI sector. In a joint letter signed by OpenUK, IP Federation, Wikimedia UK and the Entrepreneurs Network, among others, the government was urged to “avoid frictions around ... Read more ›
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With AI fraud on the rise and the global AI market valued at $100bn expected to grow twentyfold by 2030, what does the roadmap to AI regulation look like? Join leading experts for an exclusive opportunity to delve into the dynamic world of AI regulation. Sumsub’s ‘Multiverse’ event will bring together experts for live discussions ... Read more ›
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10.06.2026 10:59
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