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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Embedded finance startup Railsr has secured a £20m funding boost from its existing investors months after it was rescued from collapse. Railsr, which supports the implementation of financial services for businesses, received the funding largely from previous backers such as D Squared Capital and Moneta Venture Capital, first reported by Sky News. The funding, confirmed ... Read more ›
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The UK has long been an attractive destination for international job-seekers and despite concerns around declining immigration post-Brexit, it continues to attract vast numbers of foreign workers – including for UK tech jobs. That’s according to recent data presented by Indeed at a roundtable event held in its London HQ. The finding, led by analysts ... Read more ›
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The UK subsidiary of the German-based Rocket Factory Augsburg AG has received a £3.5m funding boost from the UK Space Agency to launch from the Shetland Islands. Rocket Factory UK has also been granted “exclusive access” to launch its 30-metre tall rocket from SaxaVord Spaceport’s Fredo launch pad. “We are eagerly anticipating our inaugural orbital ... Read more ›
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Jan Hauser is the co-founder and CEO of Applifting, a software and product development studio. Applifting was founded in 2014 by Hauser with Filip Kirschner and Vratislav Kalenda. It validates, designs and builds apps for companies, with clients including UK fintech startup Braid. Its main headquarters is in Level 39, a co-working space in Canary ... Read more ›
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The Online Safety Bill, which sets tougher standards for social media companies, has become part of UK law after receiving Royal Assent. From today tech companies such as TikTok, Facebook and Snapchat will be legally required to “prevent and rapidly remove illegal content”. The law is aimed at making the internet a safer place and ... Read more ›
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Prime Minister Rishi Sunak has said he will address artificial intelligence fears “head-on” as the government publishes a report committing to understanding the current and future risks of frontier AI. The government said its new report would “inform discussions” at the AI Safety Summit, set to be held in Bletchley Park next week. The report ... Read more ›
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UK venture capital funding continued to drop in the third quarter of 2023 but there were signs of stabilisation following a challenging investment year. VC firms invested $5.2bn (£4.3bn) in UK companies between July and September, a $400m decrease on the prior quarter, according to data published by professional services firm KPMG. That marks a ... Read more ›
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Multiverse, the education tech firm founded by Euan Blair, has cut dozens of jobs in a strategy pivot away from its mission of securing apprenticeships for secondary school leavers. Founded in 2016 by Blair, son of former Labour prime minister Tony Blair, Multiverse has cut more than 40 jobs over the last 12 months, first ... Read more ›
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A startup accelerator focusing on sustainable innovation has opened its doors in Manchester and welcomed its first cohort of companies working in areas including AI, quantum computing and decarbonisation. Zebox launched in Manchester on Wednesday, its sixth location globally, to support UK and Northern Europe startups. The hub, based in Portland Street, was launched by ... Read more ›
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Fundraising is a must-have aspect of building and scaling a tech business. Once you’ve accepted that as a founder, it’s straightforward. But fundraising in the UK is a competitive game. Research from Tech Climbers found that 77% of tech businesses in Liverpool and Manchester are actively looking for funding in 2023. Meanwhile, London-based companies raised ... Read more ›
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A University of Hertfordshire spinout that has created a 3D model of a human lung to test drugs has secured £2m in capital from Mercia Ventures’ MEIF Proof of Concept & Early Stage Fund. The human lung replica was developed by Dr Abigail Martin at the university during her PhD studies and with her supervisor ... Read more ›
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Blackpool-based challenger bank Tandem has opened an office in London in a show of faith in the City’s finance and fintech prowess. Located in Bloomsbury Way, the new office for Tandem Bank will be the base of operations for the company’s marketing, treasury, risk and strategy teams. “This move marks another milestone for Tandem. After ... Read more ›
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Sheffield Hallam University’s Advanced Wellbeing Research Centre is launching a new early-stage medtech and digital health R&D accelerator programme. Startups accepted onto the six-month programme will gain access to the centre’s resources to develop their products as well as non-dilutive R&D capital of up to £25,000. “The centre has seen fantastic outcomes from previous Wellbeing ... Read more ›
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The UK Space Agency has signed an agreement with US space tech startup Axiom that could see British astronauts participate in commercially sponsored missions. The UK Space Agency, sponsored by the Department for Science Innovation and Technology(DSIT), said that in a proposed mission with the Texan space company, British astronauts would launch into space for ... Read more ›
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Brexit left its mark on EU–UK trade. In the first half of 2021, UK exports to the EU fell by almost 16%. But according to Denise McQuaid, co-founder of AwakenAngels, tech companies in Northern Ireland are now benefitting from closer access to the Republic of Ireland, which remains a part of the EU and is ... Read more ›
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The UK tackling AI risks before other countries will be key to unlocking the technology’s economic and societal benefits, the tech secretary has said. Speaking at an event in Westminster hosted by centre-right think tank Onward, Michelle Donelan, the secretary of state for the Department for Science, Innovation and Technology (DSIT), said that understanding the biggest ... Read more ›
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More than half (60%) of leaders in Europe’s finance sector have allocated spending for generative AI technology in the past 12 months, a survey has found. This is expected to rise by 15 percentage points to 75% in the next year, according to a survey carried out by professional services firm EY. The findings come ... Read more ›
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Shares in CAB Payments plummeted by more than 70% just three months after its IPO after the money transfer firm lowered revenue guidance for the year. The business-to-business payments firm reduced its 2023 revenue forecast by 17% from previously issued guidance. This sent its shares sliding by over 70% on Tuesday, with trading being halted. ... Read more ›
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Maven Capital Partners is leading a £3m Series A investment drive into London-based vehicle advertising platform Drovo. Drivers can earn money through Drovo by placing a digital sign on their vehicle, or wrapping a screen around it, to display adverts. Ads can be triggered depending on 28 different data points, Drovo said. Its technology is used ... Read more ›
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Belfast, Glasgow and Birmingham are the fastest-growing UK startup ecosystems for venture capital investment, according to new data. VC investment into Belfast has grown by 221% since 2019, reaching $80m (£65.3m), making it the fastest-growing city in the UK for startup investment, according to data from HSBC Innovation Banking and Dealroom. Over the same time ... Read more ›
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18.06.2026 00:39
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