London SMEs are committing more than half of their annual revenue to tech investments, according to new research. Data collected from Barclays found that the majority (64%) of firms in the capital are significantly ramping up their tech spending to increase productivity. This compares with just 45% across the rest of the UK. Steven Mooney, ... Read more ›
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Generative AI has exploded into the mainstream. It is changing the way people work and disrupting entire industries. It also comes with challenges and risks that the business world will need to grapple with. To unpack some of these key considerations, UKTN hosted a webinar discussion with a panel of sector experts, in partnership with ... Read more ›
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A government-supported early-stage innovation investment fund has surpassed £100m following additional support from UK Research and Innovation (UKRI) and the Ministry of Defence (MoD). The UK Innovation & Science Seed Fund (UKI2S), which supports new businesses developing new technologies, now totals £102m. The boost follows a £37m cash injection into the fund in July last ... Read more ›
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Scriptic, a startup making phone-based content with generative AI, has raised $500,000 (£394,000) from the Sony Innovation Fund. Based in London, the seed funding for the AI studio comes after it added $5.7m (£4.5m) to the round in June in an investment led by BITKRAFT Ventures. Scriptic incorporates popular AI tools including OpenAI’s ChatGPT and ... Read more ›
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Gateshead-based Equiwatt has received a £300,000 investment from the North East Venture Fund for its energy-saving app. The startup will use the capital boost to add four new people to its current team of nine. Equiwatt at peak times of the day will tell users to switch off or not use certain electrical items such ... Read more ›
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Two very different themes have dominated UK news cycles for the last 18 months: the cost of living crisis and the rise of artificial intelligence. Mealia, a startup founded in 2022, is at the intersection of these two trends. The company is developing a chatbot built on generative AI tools, pioneered by OpenAI, to support ... Read more ›
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Almost two-thirds of businesses in the UK are struggling to retain diverse tech workers despite a belief that existing inclusion strategies are working well, new research has found. According to a survey of 300 senior managers conducted by research and education firm Wiley Edge, 64% of participants reported losing tech employees from diverse backgrounds. Of ... Read more ›
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UK fintech company Zorrz Finance is adding buy now pay later (BNPL) functionality to its credit card through a partnership with Swedish firm Sileon. Zorrz has developed an AI-powered tool called MoneyInsight360, which generates a unified view of a person’s credit history. The company is gearing up to launch its flagship credit card – the BlueAccess ... Read more ›
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London-headquartered music ticket platform Dice has raised $65m (£51.4m) to fuel its US and global rollout. Tickets on Dice cannot be resold as each individual ticket is linked to the buyer’s smartphone. This is designed to combat ticket touts reselling for inflated prices. “We’re investing heavily in building even more technology and this year alone ... Read more ›
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Investments by UK venture capital trusts (VCTs) rose by 8% in 2022, despite wider venture capital funding dropping by 23% during the same period. Research by the Venture Capital Trust Association, which represents twelve of the largest venture capital trust managers in the UK, shows that VCTs provided £664m across 345 investments. VCTs are investment ... Read more ›
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University spinouts play an important role in the UK’s tech ecosystem. They bridge the gap between academia and entrepreneurship by translating research into viable business ventures. The UK government has identified spinouts as a key component in its goal of making the UK a “science and technology superpower”. But what makes a successful spinout? What ... Read more ›
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British fintech company Zopa Bank has more than halved its pre-tax losses, as revealed by the fintech’s latest financial results. The group posted losses of £23.8m for the year ended December 2022, down from the £48.3m pre-tax loss in 2021. The firm increased its operating income by 186% to £153.7m, citing “continued growth in customers ... Read more ›
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Financial management startup Translucent has raised £5m in a seed funding round for its accounting data unification platform. Launched in 2022, Translucent is designed for multi-entity businesses to unify their financial data and workflows in a single digital space. Translucent’s tools layer on top of existing accounting software such as Xero, Quickbooks and Sage. The ... Read more ›
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Oja, the London-based delivery startup backed by Premier League footballer Raheem Sterling, has entered administration amid allegations of unpaid suppliers and staff. First reported by the Evening Standard, the startup known for providing products catering to African, Caribbean and other underrepresented cultures, released a statement on Monday night revealing it had suspended operations “due to ... Read more ›
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Kamma has collected £3.6m in an investment round led by the Clean Growth Fund for its property analysis software. Co-founded by chief executive Orla Shields, the idea behind Kamma is to provide assurance that buildings are safe and “exceed the highest environmental standards” to prospective tenants. Shields said the latest raise “will enable Kamma to ... Read more ›
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Borderless, a workforce migration platform assisting with staff relocation, has raised £2.5m in a funding round led by Backed VC. Launched in January 2023, the Borderless platform was built to support the workforce in the care sector. The platform provides staff sourcing and automated vetting services for care homes. As the sector relies heavily on ... Read more ›
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A new £40m venture capital fund backed by athletic stars including cricketer Ben Stokes and footballer Serge Gnabry has launched. Athlete-led The Players Fund aims to harness the capital of sporting professionals for investments into seed to Series A startups across sports tech, smart commerce, digital communities and media. The idea behind the fund is ... Read more ›
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Chip company Arm has filed a registration statement in a significant step towards its public listing, which is expected to take place next month. The IPO will see the chip designer on the Nasdaq Global Select Market offer American depositary shares (ADS) under the ticker “ARM”. A draft registration statement for a New York listing ... Read more ›
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Microsoft has submitted a fresh deal to the UK’s competition regulator for its $69bn (£54bn) acquisition of gaming company Activision Blizzard after its initial proposal was rejected. The Competition and Markets Authority (CMA) said it was an “unusual step” to revisit its original decision, made in April, that blocked the deal over concerns it would ... Read more ›
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THG founder and CEO Matthew Moulding has called out a US hedge fund for short-selling Darktrace in a post criticising a lack of protections for publicly listed UK companies from “rogue investment bankers”. Writing in a LinkedIn post, Moulding took aim at US-based hedge fund Quintessential, held a short position on Darktrace and published a ... Read more ›
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15.06.2026 04:38
Last update: 04:20 EDT.
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