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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London-based navigation software company What3words has appointed eBit Labs founder Chris Marks as chair. Marks takes on the role as non-executive director and board member. John Lazar, chair of the Raspberry Pi Foundation, has stepped down from the What3words board, company filings show. UKTN has reached out to What3words and Lazar for comment. Marks, writing ... Read more ›
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WANdisco has secured a more than $400,000 (£315,000) deal with automotive giant General Motors (GM) in a sign that the data firm is getting back into the groove after being hit by a fraud scandal. The AIM-listed data company has been rocked by fraud investigations, suspended shares and an exodus of executives. However, after parachuting ... Read more ›
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Electric Sheep, a startup looking to replace green screens with AI, has closed a $500,000 (£393,000) pre-seed round. Film and TV shoots currently use a procedure called rotoscoping when removing the background in footage. This is where the subject of a video is isolated. However the problem with this, according to the company, is that ... Read more ›
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A new UK-based investment vehicle worth up to £1bn has been launched to fund growth-stage fintech companies. The Fintech Growth Fund – backed by major financial institutions including Mastercard, Barclays and the London Stock Exchange Group – will target promising fintechs with investments between £10m and £100m. The fund will invest in firms from Series ... Read more ›
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Clinical trials software startup Lindus Health has landed $18m (£14.1m) in Series A funding that was led by venture capital firm Creandum. Other investors in the round include billionaire investor Peter Thiel, who co-founded PayPal. He was first revealed as a backer in the round in June. Established in 2021, Lindus Health’s platform has so ... Read more ›
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British electric and hydrogen truck firm Tevva is planning to merge with Nasdaq-listed and Canada-headquartered automaker ElectraMeccanica. ElectraMeccanica produced a three-wheeled electric vehicle called the Solo, but was forced to cease production earlier this year due to a safety defect. It is now turning its attention to electric trucks. Susan Docherty, CEO of ElectraMeccanica, said: ... Read more ›
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London-based startup Zeelo, which provides organisations with shuttle transportation programmes, has raised $14m (£11m) in a Series A extension. Founded in 2016, Zeelo develops smart shuttle solutions designed to optimise the efficiency of transport routes. Zeelo works with businesses and schools to reduce commuting time. Corporate clients can use Zeelo shuttle routes as an employee ... Read more ›
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Legal tech platform Legatics has secured £4m in an investment round to develop new features, functionality and expand into the US. Founded in 2015, Legatics was designed by lawyers that wanted to streamline the legacy working methods of the sector. The Legatics platform is a digital hub in which lawyers can manage all of their ... Read more ›
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Phasecraft, a joint spinout from University College London (UCL) and the University of Bristol, has raised £13m in a Series A round to develop algorithms for practical quantum computer use cases. Founded in 2019 by a team of academics, Phasecraft is attempting to develop algorithms to support the practical adoption of quantum computing. While quantum ... Read more ›
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The government has committed just under £4m in funding to projects using artificial intelligence (AI) for decarbonisation. Announced on Tuesday, the Department for Science, Innovation and Technology (DSIT) has identified decarbonisation as a key area to benefit from the advancement of AI technology. DSIT has selected 12 green AI initiatives to receive a share of ... Read more ›
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Digital banks Monzo and Starling have again beaten legacy banks in the latest customer satisfaction league table from UK regulators. The Competition and Markets Authority (CMA) today published the 11th instalment of the rankings, based on a large-scale survey to determine the quality of personal and business current account providers in the UK. At the ... Read more ›
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A rental fintech startup founded by former Apple and Monzo staff is shutting down just three years after launching. Fronted, which has raised more than £20m, announced it was closing via a message on the company website from CEO Jamie Campbell that said: “After an incredible journey together, we’re saying farewell to Fronted. Thank you ... Read more ›
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Orbex has appointed Lesley Still as its spaceport operations chief as the Scottish rocket company nears its first launch. As spaceport operations chief, Still will oversee Orbex’s Sutherland Spaceport, licence applications and the company’s inaugural launch. In May, the rocket firm initiated the build-out of its vertical spaceport, which is aiming to host 12 commercial ... Read more ›
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The chief executive of stock trading app Plus500 said that the attitude of New York investors compared with London has made the company consider a US listing. Plus500 CEO David Zruia that investors in London view the business as a finance company and not a tech firm, which could mean Plus500 is being undervalued in ... Read more ›
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Alderley Lighthouse Labs, a human diagnostics testing facility based in Alderley Park, Cheshire has picked up £1.27m. The round consisted of a £1.035m investment from NPIF – Maven Equity Finance – and £235,000 from venture capital firm Seneca. “With self-testing and outsourcing driving demand in lab diagnostics, ALL is addressing a genuine market need with ... Read more ›
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Startup Clean Food Group, which is developing a palm oil replacement, has raised an extra £2.3m in funding ahead of a Series A next year. It follows a £1.65m round in August 2022, with the total invested into the food tech company now at £10m. “The successful conclusion of this current funding round validates the important ... Read more ›
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A fake announcement of a $1bn investment from a US private equity firm into ChatGPT developer OpenAI has been removed from the London Stock Exchange (LSE) website. The now-removed announcement on the LSE website said that New York-based firm Ripplewood would be a “driving force in the fund” and that “in the event of a ... Read more ›
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A London-based startup building “AI digital workers” to automate business functions such as sales and recruitment has raised $2m (£1.58m) in pre-seed funding. The startup, called 11x.ai, said its goal is to “automate everything” and has launched its first service – an AI sales associate – to coincide with the funding announcement. The company says ... Read more ›
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University of Manchester spinout AssetCool has secured £2.25m for its photonic coating technology that it claims reduces energy waste in power lines. The Series A was headed by spinout investor Northern Gritstone, alongside follow-up capital from the Mercia-managed Northern Powerhouse Investment Fund and Kero Development Partners. AssetCool was founded in 2016 by Dr Niall Coogan ... Read more ›
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The UK government has launched a climate-friendly scheme for SMEs to reduce emissions and energy costs as it continues to face criticism for its recent endorsement of the oil and gas industries. The UK Business Climate Hub, launched today, provides UK businesses with a suite of tools to measure, track and report on emissions. The ... Read more ›
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20.06.2026 11:34
Last update: 11:20 EDT.
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