In the latest episode of the UKTN Podcast, Paul Scully, Minister for Tech and the Digital Economy, addresses criticism of the UK’s semiconductor strategy and explains why the government is avoiding a “subsidy race” with other nations. The government’s £1bn semiconductor strategy, unveiled in May, has received a lukewarm reception from parts of the industry. ... Read more ›
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Semiconductor firm Pragmatic is launching a £100m fundraising effort to help fuel its expansion into the US, but has downplayed suggestions that it is distancing itself from Britain. The semiconductor firm said that it plans to “continue scaling manufacturing in the UK” alongside its expansion across the Atlantic. While the US, through the CHIPS Act, ... Read more ›
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Greater Manchester’s tech sector is widely considered one of the leading tech hubs outside of London. In 2022, startups based in the region collectively raised a record £532m from investors. Manchester has become one of the UK’s epicentres for tech unicorns, producing six companies valued at more than $1bn. There is also a healthy flow ... Read more ›
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Scotland-based digital skills academy CodeClan has entered liquidation due to a lack of funding and “challenging market conditions”. Launched in 2015, CodeClan ran two campuses: one in Edinburgh and the other in Glasgow, and a previous location in Inverness. “It is with extremely heavy hearts that we announce that CodeClan has gone into liquidation and ... Read more ›
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British fintech company Revolut will withdraw its crypto operations from the US market due to the “evolving regulatory environment”. The company said in a statement over the weekend that “uncertainties around the crypto market in the US” have led to the decision to halt services. Revolut said that from 2 September, users in the States ... Read more ›
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Blockchain startup Orbital has raised £5m in the firm’s first major external funding round to support its crypto and fiat payment services. Founded in 2017, Orbital offers cryptoasset payment services, licensed by the FCA, as well as fiat payments and foreign exchange services. Orbital gives businesses the option to accept crypto payments from customers, which ... Read more ›
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The London Stock Exchange Group (LSEG) has entered into a strategic partnership with Microsoft to develop new generative AI models. The UK stock exchange is looking to capitalise on the benefits of generative AI in the financial sector following major strides in the technology stemming from Microsoft-backed OpenAI, the creator of ChatGPT. The partnership will ... Read more ›
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North of England investor Northern Gritstone has appointed Fiona Marston OBE as a member of its investment committee. Marston is the chair and CEO of the Coventry-based synthetic biology firm Erebagen, an entrepreneur in residence at the University of Reading, and an advisor for the £40m UKI2S seed fund. “Fiona has unparalleled experience working with ... Read more ›
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Rupert Cruise is the co-founder and technical director at Magway, a deep tech scaleup creating a network of overground or underground pipes to move goods at high speed. Founded in 2017 by Cruise and Phill Davies, Magway is aiming to disrupt sustainable and efficient goods delivery. It uses industrial conveyors, trucks and automation to move ... Read more ›
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The UK government is taking a pro-innovation and iterative approach to AI regulation as part of its broader ambition of becoming a science and technology superpower by 2030. AI is set to play a central role in delivering and enabling this goal. Already, the sector employs more than 50,000 people and contributed £3.7bn to the ... Read more ›
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Pockit, a London-based financial app aimed at low-income and underserved communities, has raised $10m (£7.9m). Founded in 2015 as a prepaid card service, Pockit has expanded its services over the years, with the goal of creating a “financial super app”. Pockit offers current accounts, international remittance, salary advances and direct debits to users. The company ... Read more ›
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Equity funding for UK companies surged by 41.3% quarter on quarter in the first half of 2023, indicating signs of a small bounceback after investment levels plummeted from a record high in 2021. Despite the glimmer of recovery in Q2, funding levels remain significantly down compared to the first half of 2022 as soaring inflation ... Read more ›
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A customer engagement platform used by beauty brands including Armani, Lancôme and YSL has raised $5m (£3.9m) in a seed funding round. London-based Odore is a platform used by fashion and cosmetic brands to develop marketing strategies based on detailed customer data and analytics. Brands can create online marketing campaigns, including custom visual assets, using ... Read more ›
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Revalue Nature, a startup aiming to support carbon offset project development, has raised $10m (£7.9m) in a Series A round. Founded in 2022, Revalue Nature works with carbon offset projects, giving them access to a suite of tools designed to improve operational efficiency. These tools include a landscape scanner that analyses the space that a ... Read more ›
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The venture capital arm of oil and gas giant BP has made a £4m investment into Southampton headquartered fleet management software company Dynamon. Dynamon’s backing from BP Ventures comes as part of a more extensive Series A round to fund its international expansion to Europe and North America, in addition to commercialising its fleet software. ... Read more ›
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A group of UK chip companies will meet today for the first time as part of the government’s Semiconductor Advisory Panel. The government has drafted in experts including Arm chief architect Richard Grisenthwaite, IQE CEO Americo Lemos, Dr Eben Upton CEO of the Raspberry Pi Foundation and Pragmatic executive director Scott White. The discussions, taking ... Read more ›
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Pandemic-era tech unicorn Hopin has sold off its titular events platform to the US-listed cloud communications company RingCentral for an undisclosed sum. California-based RingCentral will take on the technology assets, customer relationships, engineering, and go-to-market talent from Hopin’s Events platform and Session Product. Hopin will remain a separate company that will, according to its founder ... Read more ›
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Investment firm Ocean 14 Capital has bagged a further €30m (£25.8m) funding commitments for its fund aiming to improve the condition of the seas. The ocean investor’s newest commitment is made up of €20m (£17.2m) from insurance business Convex, and €10m (£8.6m) from family offices and high net worth individuals. Large investments so far include ... Read more ›
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The Tees Valley Hydrogen Transport Hub has received a second allotment of funding from the government to invest in hydrogen companies and skills. The £8m top-up announced today adds to the Tees Valley hub’s £20m competition launched last autumn. Hydrogen technology is in its infancy but holds high promise to provide a renewable and readily ... Read more ›
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Cambridge-based semiconductor company Arm is reportedly seeking a $60bn to $70bn valuation for its upcoming IPO, which could be as soon as September. In April, Masayoshi Son, chief executive of Arm’s parent company SoftBank, signed a formal agreement with the Nasdaq exchange to list Arm in New York. Sources close to the situation told Bloomberg ... Read more ›
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13.06.2026 21:16
Last update: 21:10 EDT.
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