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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An additional 50 investment firms have signed a commitment to support the flow of pension money towards tech startup investments. The Treasury-backed Venture Capital Investment Compact was first announced in October and signed by 20 investment firms – including Octopus Ventures and Balderton Capital – as a measure to unlock billions in untapped investment from ... Read more ›
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On Wednesday the chancellor will deliver the 2023 Autumn Statement. The UK tech sector will be watching closely for measures supporting business growth following a year of challenging economic headwinds. Many tech-focused budget details have already been revealed. They include new funding for quantum computing, the publication of the spinouts review, a US-inspired tech VC fellowship scheme, ... Read more ›
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British universities have been advised to take no more than a 10% stake in startups founded within their walls, as part of the government’s review on spinouts. Announced by the Treasury in March, the review of university spinouts was launched to support the UK’s wider goal of growing its science and technology sector to become ... Read more ›
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A day away from Jeremy Hunt’s Autumn Statement, we’ve heard a lot of noise about what to expect for the tech ecosystem. In typical fashion, the Treasury has been slowly but surely trailing large chunks of the speech. That means we can expect to hear some of the following from the chancellor on Wednesday: ISA ... Read more ›
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London-based circular economy startup Reboxed, which embeds refurbished electronic ecommerce solutions to brands, has raised £1.6m. Founded in 2020, Reboxed is aiming to tackle e-waste by offering consumers second-hand electronics and brands re-commerce services. Data published by Statista revealed that more than 50 million metric tons of e-waste are generated globally per year, made up ... Read more ›
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In the latest episode of the UKTN Podcast, Dom Hallas, executive director of the Startup Coalition, reveals his top policy wishes for UK tech in the upcoming Autumn Statement and shares his assessment of the tech legislation agenda for 2024. Hallas has been leading the lobby group, which acts as a conduit between Westminster and ... Read more ›
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Hampshire-based virtual reality (VR) firm nDreams has been acquired by Swedish video game company Aonic in a £90.3m deal. Headquartered in Farnborough, nDreams develops and publishes VR games, working with partners representing the major headsets such as the Meta Quest, Valve Index and PlayStation VR. The company has developed games such as Phantom: Covert Ops, ... Read more ›
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The chancellor will announce a science and tech venture capital (VC) investment growth scheme inspired by the US in his upcoming Autumn Statement speech. Chancellor Jeremy Hunt, who has often stated a desire to turn the UK into the “next Silicon Valley”, is expected to announce plans for a fellowship programme to increase the supply ... Read more ›
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Just under a quarter of London-listed firms said they have experienced no significant advantages from listing in the UK, according to a recent survey. Research from the Quoted Companies Alliance (QCA), citing data from a YouGov survey of 101 small and mid-cap UK-listed firms, found that 23% saw no advantages stemming from their position as ... Read more ›
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West Yorkshire has been confirmed as the UK’s third investment zone in a bid to provide business support to the region’s life sciences and health tech companies. The government, which made the announcement ahead of the Autumn Statement, said the plans could create more than 2,500 jobs over the next five years and “unlock” £220m ... Read more ›
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The chancellor could unveil a major funding boost worth hundreds of millions to the UK quantum computing sector in the upcoming Autumn Statement. Jeremy Hunt, who will deliver the autumn budget statement on Wednesday, is expected to include funding for a series of quantum computing projects, first reported by the Telegraph. Quantum computing has previously ... Read more ›
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A recently launched challenger bank that has already amassed more than $70m (£56m) in investment and £765m in deposits might not seem like the prime candidate for a crowdfund. But for Kroo Bank, it’s a decision that goes beyond raising extra cash. Kroo, which began operating as a bank in 2022, won over customers early ... Read more ›
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The environment for startups has been brutal in recent years. Rising prices, elevated wage demands and swelling debt burdens provide daily tests for founders – on top of the regular challenges of hiring, fundraising and developing innovative new technologies. Britain’s entrepreneurs have repeatedly displayed their resilience through Covid and the cost of living crisis that ... Read more ›
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Trading volume at the London Stock Exchange is more than a third down this year as the group that owns it looks to focus more on its data business. New data has revealed that average trades per day so far this year were 566,193, a 38% drop from the 912,080 average daily trades over the ... Read more ›
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Work has commenced on a new health innovation hub in Govan, Glasgow, to provide office space, labs and co-working areas. The Govan health hub is being built by the University of Glasgow and property developer Kadans Science Partner. “The Health Innovation Hub will be a catalyst for collaboration and innovation to better tackle global healthcare ... Read more ›
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The UK will resist regulating AI regardless of legal advancements from the US, EU and China, according to a leading conservative figure in AI. Speaking at a conference held by the Financial Times, Viscount Camrose – the minister for AI and intellectual property – said that in the “short term” there would be no new ... Read more ›
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London-based trading platform Rho Labs has banked $2.2m (£1.8m) in a pre-seed capital raise led by Speedinvest. Founded in late 2022, the fintech is creating a market for rates derivatives that’s built on blockchain technology. Traders will be able to use its platform for digital asset lending, funding rates and staking. Alex Ryvkin, founder and ... Read more ›
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Your business has outgrown your entry-level accounting software. It’s probably a good problem to have, but what do you do now? In the past, there has only really been one option: keep struggling with the old startup software until you can afford an expensive enterprise resource planning (ERP) system like NetSuite, Intacct or Dynamics. But ... Read more ›
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Damian Hanson is the co-founder of CircleLoop, a company providing cloud-based business phone services to SMEs. Hanson co-founded CircleLoop in 2016 with David Hague. The Lancashire-based company provides telephony software for businesses such as virtual phone numbers, cloud call recording and voice over internet protocol systems. CircleLoop, which describes itself as a “digital-led challenger telco”, ... Read more ›
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Embattled mobility startup Arrival has secured a $50m (£40.3m) loan from its existing investors for a “potential sale or strategic alternative transaction”, according to a filing. Alongside the filing, it has published the results for the first half of this year showing a loss of $155.7m (£125.5m), up from $100m (£80.6m) in the same period ... Read more ›
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17.06.2026 21:08
Last update: 21:01 EDT.
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