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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Angel investors are still backing impact startups significantly despite a wider slowdown in tech funding, according to new data. Research from Bethnal Green Ventures, HSBC Innovation Banking and Floww found that 84% of surveyed angels have made recent investments in tech for good startups, with 63% making the investment in 2022. The survey found that ... Read more ›
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It has been a challenging funding environment for startups this year. Or as Jessica Jackson, investment manager at Manchester-based VC firm Praetura Ventures, puts it founders are finding it “incredibly frustrating”. In the first half of 2023, total UK tech investment fell by 57% year-over-year. From Jackson’s vantage point at the North of England-focused investment ... Read more ›
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Meta has paid £149m to exit its lease on an office building in London as flexible working continues to dominate in the city. The Facebook owner, which has three other locations in the UK capital, paid the fee to British Land, which owns the building near Regent’s Park. Despite agreeing to the 20-year lease back ... Read more ›
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UK tech startups have been valued at a combined £820bn despite economic headwinds, with a surge in healthtech investment helping the UK retain third spot behind only the US and China. Data from HSBC Innovation Bank, formerly Silicon Valley Bank UK, and Dealroom show that UK startups are valued at $996.8bn, up from last year’s ... Read more ›
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Chase UK will ban payments related to crypto assets next month as the bank looks to crackdown on “fraudsters”. Announced through an email sent to customers today, the British wing of the JP Morgan-owned bank said it was “changing the types of payments” users can make. The announcement said that from 16 October 2023, the ... Read more ›
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London-based tech unicorn Improbable remains bullish on the future of the metaverse as it publishes financial results showing it cut losses by £131m to £19m. The company, which develops the infrastructure for metaverse worlds for gaming, academia, business and more, more than doubled revenue growth for the 2022 financial year, increasing its top line to ... Read more ›
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A University of Oxford spinout using machine learning to simulate designs for technologies such as semiconductors has secured £4.5m in funding. Oxfordshire-based Machine Discovery has created a software platform to predict how designs might behave in certain situations. The company claims its emulation technology can drastically increase the speed of compute-intensive simulations. Its first commercial ... Read more ›
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Singapore-based payments unicorn Nium has launched its European headquarters in London, describing the UK as a “leading fintech hub”. Founded in 2014, Nium is a payments company targeted at businesses looking to move funds internationally. Clients include Rippling, Payoneer, Currencycloud and eDreams. Now worth $2bn, the fintech is looking to expand its business across Europe ... Read more ›
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A £35m investment fund targeting tech startups in the cultural sector has been launched by industry body Creative UK. The Creative Growth Finance II (CGF II) fund from the not-for-profit has been tasked with expanding the creative sector in line with the recently established government goal of growing the British creative industry by £50bn over ... Read more ›
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A Yorkshire-based augmented reality (AR) company has claimed Elon Musk’s Twitter rebrand has raised eyebrows over the similarities between its logo and the one recently chosen by the tech billionaire. Peel X, which develops AR technology for digital storytelling and tourism experiences, told UKTN that clients have flagged the similarities between the two logos and ... Read more ›
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The UK government seems to have found itself in the doldrums of decarbonisation policy. This paralysis is being felt even more acutely as our climate target deadlines creep ever closer. Climate innovation is at an all-time high. Yet government legislation remains predictably sluggish in how it encourages the uptake and adoption of emission-slashing technologies. My ... Read more ›
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Mintago, a fintech startup based in London, has raised $4.75m (£3.9m) for its employee money management platform. Founded in 2019, Mintago has created a platform for businesses to support employees with their financial management goals. Users can manage pension contributions and locate lost pension pots. Mintago also offers access to financial advisors, debt counselling and ... Read more ›
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UK investment syndicate Adjuvo is leading a £2.5m pre-Series A round into blockchain signature software company Cygnetise. The startup is now looking to hire in its tech and sales departments to help it grow into new markets. Cygnetise, based in London, is a signature management software that is built on top of the blockchain. Businesses ... Read more ›
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State-owned investment group British Business Bank (BBB) has reported an annual loss of £135.3m following a drop in its portfolio value. The economic development bank, founded in 2014 to back UK SMEs, said the loss was due to a “challenging economic environment” over the last financial year. Louis Taylor, CEO of British Business Bank said ... Read more ›
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European B2B software venture capital firm Dawn Capital has received $700m (£572.9m) for two of its funds. The majority of the raise at $620m (£507.3m) will be deployed into its fund Dawn V, which provides investments of up to $40m (£32.7m) in Series A and B rounds. The remaining capital will be deployed in follow-up ... Read more ›
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The government will host a series of artificial intelligence events with civil society groups and tech bodies in the run-up to the AI Safety Summit. The summit on AI safety is a little over a month away and will see international governments and major tech firms gather in Bletchley Park to discuss risks and concerns ... Read more ›
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Continuum Industries, an Edinburgh-based startup using AI to help infrastructure developers transition to greener energy, has raised $10m (£8.1m). Founded in 2018, Continuum has developed an AI platform, called Optioneer, which is used by power, utility and renewables companies to assess routing options for energy types. The Optioneer platform analyses the considerations for power lines, ... Read more ›
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Curve, an app that combines all of an individual’s payment cards into a singular interface, has added £58m to its Series C fundraise. It brings Curve’s total Series C figure to more than £133m, with the latest round securing investment from the venture division of Microsoft co-founder Paul Allen’s Cercano Management. Shachar Bialick, CEO and ... Read more ›
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The rapid development of AI could leave governments and regulators unable to safely manage it, Britain’s deputy prime minister has said. In a speech set to be delivered to the UN General Assembly in New York, Oliver Dowden will warn that the desire for countries to ramp up their AI capabilities quickly will cause regulators ... Read more ›
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Goldman Sachs Asset Management and Citi have issued £136m in debt funding to SME lending firm Fleximize. Launched in 2014, Fleximize offers loans up to £500,000 to SME businesses without early repayment surcharges. To date it has distributed more than £300m to UK SMEs. The fintech’s latest capital from Goldman Sachs follows an earlier facility ... Read more ›
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18.06.2026 05:04
Last update: 04:50 EDT.
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