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 ›
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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 ›
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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 ›
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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 ›
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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 ›
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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 ›
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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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24.06.2026 13:23
Last update: 13:15 EDT.
News rating updated: 20:12.
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