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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The hospitality sector stands on the verge of great change. Ahead is a technological revolution driven by the catalysing effect of AI. This technology can optimise workflows, reduce waste, track consumer behaviour and even generate menus. But for this to happen, hospitality decision-makers must embrace change. Despite the promise of transformation and increased efficiency, the ... Read more ›
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Innovate UK has announced 17 life science projects will receive a share of a £13m funding pool to support the transformation of medical manufacturing. The grant competition from Innovate UK was created to find life science firms that could demonstrate the adoption of digitisation and automation into drug development. The organisation also looked for examples ... Read more ›
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OnlyFans, a site used by creators to host subscription services, has reported its users spent a combined total of $5.5bn (£4.4bn) in its last financial year. The London-based business has 3.1 million creators, up by 47% from the year before, monetising their own exclusive content. According to the Companies House report it took home a ... Read more ›
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Trading platform CMC Markets, owned by Tory peer Lord Cruddas, warned of a predicted drop in full-year profit amid reduced activity. In a statement made on Friday, the firm said subdued trading activity from July persisted in August, with net revenues dropping by 20%. Retail trading in particular was said to have slowed down. The ... Read more ›
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Online content creation platform Prospect 100 has received $750,000 (£597,000) in pre-seed capital. Its platform lets businesses outsource the design work of anything. Briefs currently on the site range from sports apparel to the background for an NFT collection. Sean Wotherspoon, investor of Prospect 100, said: “I think it’s extremely important for platforms like Prospect ... Read more ›
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Rupert Lee-Browne is the founder and CEO of Caxton, a payments company that provides tools for businesses and individuals to move money. Lee-Browne founded Caxton in 2002 – making it one of the UK’s early fintechs – with £25,000 in capital and a “borrowed office and telephone line”. Caxton’s platform, which is powered by open ... Read more ›
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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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20.06.2026 09:54
Last update: 09:40 EDT.
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