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 ›
0
On-demand laundry and dry cleaning service Laundryheap is acquiring the digital assets of Paris-based Lavoir Moderne, which marks its fourth acquisition in under two years. Laundryheap did not disclose the terms of the deal but its chief executive said it would expand its footprint in France. Deyan Dimitrov, CEO and founder of Laundryheap, said: “We ... Read more ›
0
The government has named the 12 universities set to share a £117m funding pot to help equip the UK with AI skills. The University of Bristol, the University of Edinburgh and the University of Southampton are among the academic institutions receiving funding for Centres for Doctoral Training in AI. The £117m public funding was first ... Read more ›
0
UKRI has asked Research England to suspend the operations of its diversity advisory group after the tech secretary accused it of a “serious failure” of impartiality following social media posts about the Israel-Hamas war by some of its members. Dame Ottoline Leyser, chief executive of UKRI, said she has launched an investigation and will use ... Read more ›
29
Half of the industry representatives at the AI Safety Summit hail from the US, the government’s published attendee list shows, as Prime Minister Rishi Sunak looks to make the UK the “geographical home of global AI safety regulation”. The full guest list for the two-day summit shows 40 “industry and related organisations” attending, with 20 ... Read more ›
0
Sprout.ai, a startup using generative artificial intelligence for insurance claims, has secured £5.4m in its latest round of funding. Used by AdvanceCare, MetLife and Generali, Sprout.ai says it can slash handling costs in half by automating the claims process. The software takes information regarding a claim, summarises it and then reviews it against the insurance ... Read more ›
0
London-based buy now pay later (BNPL) provider Zilch has been valued at $2bn (£1.65bn) after an investment from eBay. The US ecommerce giant was revealed to have acquired a share of the Klarna rival in Zilch’s latest filings on Companies House, first reported by the Telegraph. The investment from the equity arm of the online ... Read more ›
3
Tech billionaire Elon Musk will attend the UK’s AI Safety Summit this week and host a conversation with Prime Minister Rishi Sunak on X, formerly Twitter, on Thursday evening. Musk’s expected attendance will be seen as a major boost for Sunak after several world leaders – including US President Joe Biden and French President Emmanual ... Read more ›
21
The UK’s financial regulator is cracking down on “unfair” and “unclear” contracts for buy now pay later (BNPL) products as data reveals use of the alternative payment method has skyrocketed. The Financial Conduct Authority (FCA) has enforced a requirement for firms in the BNPL sector to present customers with clear, easy-to-understand contracts that inform people ... Read more ›
0
In the latest episode of the UKTN Podcast, Nigel Toon, co-founder and CEO of Graphcore, discusses all things AI safety ahead of the UK’s inaugural summit. Toon – who will be attending the AI Safety Summit – explains the danger of letting commercial interests and Big Tech shape regulations, and why he believes the government ... Read more ›
0
The role of AI and how to regulate it has become a topic of increasingly fierce political debate. Predictions about how the technology will impact society have ranged from apocalyptic to utopian, and as such it was to be expected that this would be an issue at the forefront of tech agendas at this year’s ... Read more ›
0
Oxford University Innovation and Parkwalk Advisors have closed £3m for its latest fund backing early-stage startups. Shared exclusively with UKTN, the University of Oxford Innovation Fund was initially set up in 2014 to back tech and science spinouts from the university. The close marks the sixth Innovation Fund to date. The fund – known officially ... Read more ›
2
The chief executive of Nordic challenger bank Lunar has poured cold water on a rumoured merger with British bank Monzo. Lunar CEO Ken Villum Klausen said the fintech is focused on its Nordic expansion and that speculation over a deal with Monzo in July was “overhyped”. Speaking to Tech.EU, Klausen said: “We don’t have any intention ... Read more ›
0
UK tech founders have called on the prime minister to embrace artificial intelligence products in the public sector, open up datasets and provide more incentives for startups ahead of the AI Safety Summit this week. The letter to Rishi Sunak – signed by the founders of 25 startups including Faculty, Stability AI and Mind Foundry ... Read more ›
0
Prime Minister Rishi Sunak has announced £100m in funding for an accelerator that will use AI to find treatments for previously incurable diseases. The AI Life Sciences Accelerator will be deployed over the next 18 months and target areas where artificial intelligence has the greatest potential to improve healthcare. “AI can help us solve some ... Read more ›
24
North of England venture capital firm Northern Gritstone has announced its final close of £312m, with more than £150m coming from local authority pension funds. The VC firm will use the funds to back tech spinouts and startups in Leeds, Manchester and Sheffield. “Receiving the endorsements of asset managers, mayors and pension funds shows the ... Read more ›
9
Venture capital firm NordicNinja has today revealed the appointment of former Tech Nation chief operating officer Row Knapp in the same role. Shared exclusively with UKTN, Knapp’s appointment to NordicNinja’s team follows the Helsinki investor’s move to the UK in September along with the launch of its £172m fund. “I think a good operator should ... Read more ›
5
The government must “intervene” to ensure banks work with crypto firms after several financial institutions recently enforced bans, according to the UK’s crypto trade body. Speaking to UKTN, Su Carpenter, director of operations at CryptoUK, called out banks for their “risk averse” approach to cryptoassets. Last month, Chase UK announced the bank would no longer ... Read more ›
2
Banking software company Thought Machine has cut dozens of jobs in a “cost reduction exercise” potentially affecting as many as 70 staff, UKTN has learnt. Thought Machine CEO Paul Taylor said in a company-wide email, seen by UKTN, that the fintech is “currently going through a cost reduction exercise and as part of the process ... Read more ›
2
The British Design Fund has invested £150,000 into Holdson, which makes electrochemical polishing machines. Based in Huddersfield, the startup’s electrochemical polishing machines are used to eliminate any contaminants or imperfections on the exterior of metals. Aaron Holt, CEO and co-founder of Holdson, said: “While existing solutions are costly and slow, our patented process is up ... Read more ›
25
Multifi, a London-based fintech that provides credit services to SMEs, has raised £10m in loan capital. The fresh funds will go towards Multifi’s credit facility offerings for small businesses. Multifi offers SME loans of up to £200,000. “Business finance is overly complex, often leading to immediate rejection for enterprises needing funding. We aim to revolutionise ... Read more ›
0
Most popular sources
Ubergizmo
|
0% |
Irish Tech News
|
0% |
ScienceDaily
|
0% |
UK Tech News
|
0% |
ReadWrite
|
0% |
| View sources » | |
LIKE us on Facebook so you won't miss the most important news of the day!
18.06.2026 00:26
Last update: 00:20 EDT.
News rating updated: 07:20.
What is Times42?
Times42 brings you the most popular news from tech news portals in real-time chart.
Read about us in FAQ section.