The Manchester Prize has returned for its second year as the British government hopes to incentivise AI innovation in the clean tech sector with £2m of prizes. First announced by former chancellor Jeremy Hunt during the 2023 Spring Budget speech, the Manchester Prize is an annual competition for AI developers in the UK managed by ... Read more ›
15
A Cambridge startup claiming it can use AI and scent databases to “print smells” to improve sleep has raised £2.2m in a joint equity and grant round. Founded in 2019, OW Smell Made Digital first launched as a spinout from the University of Sussex developing technology to digitally transmit scents. The company, which raised a ... Read more ›
48
Workplace management software company Monday.com is expanding its footprint in London with a new 80,000 sq ft office. The new lease in London’s Fitzrovia district near the West End contains the company’s largest research and development operation outside of its headquarters in Tel Aviv. Monday.com said the new location is part of a major expansion ... Read more ›
12
Investment in the UK’s fintech sector has nearly tripled in the first half of 2024, despite a global decline. Several major deals, including a $4bn buyout of financial software company IRIS Software Group and a $999m VC round by the small business-focused marketplace platform Abound, helped the UK retain its title as the centre of ... Read more ›
0
Startup funding platform Fundmypitch has appointed YFM Equity Partners’ David Hall as a non-executive director. Fundmypitch supports businesses in securing investment by connecting startups with capital providers. The group identifies targeted investors and arranges meetings to facilitate funding rounds. Fundmypitch recently helped Northern Ireland-based facility management company Exact Comms secure a £155,000 pre-seed investment. Looking to ... Read more ›
0
The number of new UK tech company incorporations has dropped following a period of sustained growth, new data has shown, prompting fears of a tech sector slowdown. In the first quarter, there were 13,802 new tech companies registered in the UK, but in the second quarter, it dropped by 11% to 12,318, according to audit, ... Read more ›
0
Ahead of the Olympic Games, equestrianism was overshadowed by Charlotte Dujardin’s withdrawal from the Paris event. But it would be a shame if, in the swirl of attention around Dujardin’s error of judgment, we lost sight of the fact that Paris is the first Olympic Games in history where women aren’t outnumbered by men – ... Read more ›
0
The UK’s tech department has unveiled a £32m funding pot to be split between 98 projects developing AI in the NHS, construction, the railways and more. The projects will be carried out by more than 200 businesses and research organisations. Projects include a £165,006 plan for V-Lab Ltd to develop AI software to improve skills ... Read more ›
2
Digital bank Monzo has surpassed 10 million UK customers amid growing competition in the fintech and digital banking sector. Monzo announced the milestone on Tuesday, with one in five UK adults now having a Monzo personal account, according to the London-based company. The fintech said Monzo reached the 10 million user mark by adding two ... Read more ›
0
Cambridge tech firm Riverlane has raised $75m (£64m) in a Series C round to expand operations for its quantum error correction technology. This new funding has reportedly made it the first quantum computing startup in Europe to raise a Series C, according to TechCrunch. The startup, founded by Steve Brierley, focuses on a product it ... Read more ›
0
The UK is unable to sanction social media firms such as X over their role in inciting far-right riots despite the Online Safety Act becoming law over nine months ago. Violent riots and protests have erupted across the UK including in Birmingham, Liverpool and Plymouth, prompting panic and severe police response. Social media services have ... Read more ›
9
Warehouse robot management software startup PHINXT Robotics has secured £2m in venture capital funding. Founded in 2022 by two PhD researchers, Yanwen Chen and Quirino Zagarese, the startup has developed a cloud-based platform they claim helps companies tackle costly and inefficient warehouse operations by making robotic deployments simpler. Traditionally, integrating robotics in warehouses has been ... Read more ›
0
This week’s UKTN Podcast guest is Dr Claire Thorne, co-CEO of Tech She Can, who discusses her expectations from the next government to revamp the education curriculum for technology roles. Thorne also addresses the various factors that impact why girls don’t get into STEM, why a third of women are leaving the sector and the ... Read more ›
0
The co-creator of the UK’s AI Safety Institute has left the civil service after two years of supporting government tech policy. Nitarshan Rajkumar was one of the founding members of the AI Safety Institute when it was established in 2023 under former Prime Minister Rishi Sunak. Rajkumar, who has been a policy advisor to the ... Read more ›
0
Not long after securing its UK banking licence, Revolut is set to cement its position as Europe’s most valuable startup through a $500m share sale that would give the fintech giant a $45bn (£35.3bn) valuation. The sale was announced to staff on Friday. Revolut employees who have been at the firm for over a year ... Read more ›
0
The government should create mechanisms for businesses to more easily share data to increase the cash flow into small UK businesses, according to the SME Finance Taskforce. The taskforce, chaired by the government-backed Centre for Finance, Innovation and Technology (CFIT), is a group of banks, fintechs, software providers, credit agencies and industry bodies formed to ... Read more ›
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Lloyds Bank has appointed a former Amazon Web Services (AWS) executive as its director of artificial intelligence as part of the banking giant’s focus on building its AI capabilities. In the newly created role, Dhawan will run the bank’s “AI Centre of Excellence”, a group of data science, behavioural science, machine learning and AI ethics ... Read more ›
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In his King’s Speech last month, Charles III outlined Labour’s plans to “seek to establish the appropriate legislation to place requirements on those working to develop the most powerful artificial intelligence models”. While not quite the firm commitment to AI legislation many expected, it marks a clear shift away from the previous government’s “wait-and-see” approach. ... Read more ›
9
Cambridge-based drug discovery startup Healx has announced a $47m (£37m) Series C funding round as its trial neurofibromatosis treatment receives regulatory approval. Founded in 2014, Healx is using AI to find treatments for some of the world’s rarest diseases. Healx has raised over $100m since it was founded, having previously raised $56m in a 2019 ... Read more ›
0
This week’s UK tech funding deals include newly crowned femtech unicorn Flo, financial large language model developer Aveni and flexible energy startup Axle Energy. UKTN tracked £257.5m worth of UK tech investment this week (29 July to 2 August), a 125.5% week-on-week increase across 15 funding rounds. Here’s your weekly roundup of UK tech startup ... Read more ›
0
Edinburgh-based golf technology startup Shot Scope has secured $8.5m (£6.6m) in funding as it aims to improve the skills of more than 60 million golfers worldwide. Founded in 2014 by David Hunter in the “home of golf”, Shot Scope offers subscription-free technology such as GPS wearables, laser rangefinders, and shot-tracking devices to provide in-depth performance ... Read more ›
1
Most popular sources
Business Insider
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27% 1 |
Tech Wire Asia
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16% 11 |
Eurogamer.net
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6% 2 |
CNET
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6% 3 |
The Verge
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5% 2 |
| View sources » | |
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27.11.2024 20:35
Last update: 20:35 EDT.
News rating updated: 03:31.
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