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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Tech giant Amazon is reportedly in talks over becoming an anchor investor in the upcoming IPO of Cambridge-headquartered semiconductor firm Arm. Amazon would join a host of other big-name tech firms said to be interested in backing the SoftBank-owned semiconductor designer, including Nvidia, Apple and Samsung. First reported by Reuters, Amazon’s interest demonstrates the importance ... Read more ›
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Tech investment giant SoftBank has once again posted a loss on its venture capital arm, losing £71m last quarter. The Vision Funds, which have backed British tech firms including Zopa and Revolut, lost significantly less than the $20bn it haemorrhaged in the first quarter of last year but it means the cumulative loss of the ... Read more ›
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The Labour Party is calling for the immediate regulation of buy now pay later (BNPL) products amid reports of a government backtrack. In a letter to Economic Secretary to the Treasury Andrew Griffith seen by UKTN, Labour MP and Shadow City Minister Tulip Siddiq criticised the government for not enacting regulation of the loan product. ... Read more ›
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Edinburgh-based cell analysis startup Cytomos has raised £4m in a round led by Scottish angel network Archangels. The Scottish firm said it will use the capital injection to scale up its dielectric spectroscopy technology, which aims to bring therapies to market faster. Use cases range from drug development, gene therapy manufacturing and bioprocessing. Cytomos is ... Read more ›
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London-headquartered telehealth company Babylon is now facing the prospect of bankruptcy after the proposed rescue merger by Swiss firm MindMaze collapsed. The rescue deal by MindMaze, which would have taken US-listed Babylon private, was first announced by the company on 23 June. An update posted to Babylon’s website states: “Following Babylon’s receipt of funding under its ... Read more ›
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From today HMRC is imposing further measures aimed at reducing false claims for research and development (R&D) tax relief, prompting concerns that the extra red tape could deter genuine innovation. Businesses now have to fill in an “Additional Information Form” to combat an estimated £1.3bn of error and fraud. Firms applying for R&D tax relief ... Read more ›
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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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20.06.2026 13:14
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