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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Tessa Clarke is the CEO and co-founder of Olio, an app for sharing food and other goods that would otherwise be going to waste. Launched in 2015, Olio has raised over $50m in financing from Cs, impact funds and angel investors. It has grown to a team of approximately 90 people, with seven million users ... Read more ›
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Electric four-wheel drive manufacturer Munro Vehicles is in the process of raising around £5m, including backing from venture capital firm Elbow Beach Capital, UKTN can reveal. Elbow Beach Capital is doubling down on the £750,000 pre-seed capital it invested in the Glasgow-based EV maker in 2022. The Scottish EV startup is manufacturing rugged 4×4 jeeps ... Read more ›
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London-based Stylib has closed a £1.5m pre-seed equity round in support of its digital product discovery platform for the architecture industry. Founded in 2021 by two architects, Stylib was created out of their personal experience with the traditional process of product discovery in the industry. “As architects, we understand the frustration felt by design professionals ... Read more ›
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The government will bring in “digital gurus” from the private sector to support Whitehall civil servants with expertise in AI and data, the cabinet office minister announced on Wednesday. The move, which will look to poach people from “top tech businesses”, is aimed at improving productivity in Whitehall with AI tools, and to improve how ... Read more ›
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The chief of the UK’s financial watchdog has questioned the legitimacy of concerns from buy now pay later (BNPL) firms after reports emerged of companies threatening to leave the country if strict regulation be enacted. Nikhil Rathi, CEO of the Financial Conduct Authority (FCA), dismissed the warnings from BNPL firms on Wednesday. Speaking to MPs, ... Read more ›
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The government wants the UK to be a global leader in AI regulation. Prime Minister Rishi Sunak, a Brexiteer, views the UK’s position outside of the EU as an advantage to forge its own path in regulating everything from financial services to public listings. Speaking at London Tech Week last month, Sunak said he wants ... Read more ›
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Thingtrax, an internet of things (IoT) startup looking to digitise the industrial sector, has raised £4.3m in a pre-Series A investment round. Founded in 2015, Thingtrax offers industrial firms a platform designed to improve operational efficiency through real-time monitoring of production activity. Thingtrax’s platform tracks manufacturing facilities and provides data insights into performance efficiency. Users ... Read more ›
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In 2020 and 2021, Europe produced more than 80 new unicorns and speedy delivery startup Gorillas reached a billion-dollar valuation in just 13 months. But as we approach the summer holidays in 2023, the tech sector remains in the depths of the European tech winter. Despite the government’s calls to create a Unicorn Kingdom, the ... Read more ›
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The UK’s competition regulator has provisionally cleared the $69bn (£53.4bn) acquisition of VMware by Broadcom following an investigation. The Competition and Markets Authority (CMA) first launched its investigation in November 2022 due to concerns that Broadcom, which develops and sells hardware components, would gain an unfair advantage by owning of VMware, which sells software used ... Read more ›
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Flying electric taxi startup Vertical Aerospace has completed its first remotely-operated test flight without being tethered in a key step towards a piloted test run. The VX4, which takes off and lands vertically, was flown at about 70km per hour at Cotswold Airport. The Bristol-based company said it plans to conduct more flights in the ... Read more ›
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The UK government’s AI white paper falls short of meeting industry and consumer needs, according to a report from the Ada Lovelace Institute. The institute’s ‘Regulating AI in the UK’ report claimed the existing regulatory network for AI currently has “significant gaps” in areas such as recruitment, policing and parts of the private sector. The ... Read more ›
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An open letter from BCS, The Chartered Institute for IT, is calling for the government and tech sector to see AI as a “force for good”. The letter, signed by more than 1,300 experts, says it doesn’t want recent developments in AI to be seen as an “existential threat to humanity” and that it won’t ... Read more ›
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Octopus Group has announced a new accelerator programme to support the growth of sustainable deep tech startups across the UK and Europe. The Springboard programme from Octopus will focus on developing businesses that are combatting global issues such as climate change, resource scarcity and energy security. In the accelerator, Octopus will look to include startups ... Read more ›
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Cybersecurity firm Netcraft has secured more than $100m (£77m) in a major investment led by Spectrum Equity. Based in Bath, Netcraft provides services including phishing detection, cybercrime disruption and website takedown through its software as a service platform. In addition to the funding, Netcraft has announced a new CEO, Ryan Woodley, has taken the reins. ... Read more ›
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Komi, a digital platform for artists, celebrities and online content creators to sell merchandise and engage with fans, has raised $12m (£9.2m) in a Series A funding round. Komi partners with public figures to provide a white-labelled ecommerce platform and content hub to sell merchandise directly to fans and provide a single space containing social ... Read more ›
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Darktrace has said a review by auditor EY found no evidence of accounting fraud after a short seller questioned the validity of the British cybersecurity company’s financial statements. Shares in Darktrace rose by as much as 26% on Tuesday. However, the report found areas known to Darktrace where “systems, processes or controls could be improved”. ... Read more ›
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As the rising cost of living continues to drain the resources of people in the UK, access to quality financial services has become more crucial than ever. While some can rely on banks and other traditional institutions to provide financial support, these resources are not available for everyone, as has been the case in Britain ... Read more ›
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Tractable, a London-based firm using AI to assess the condition of cars and homes for insurers, has closed a $65m (£49.8m) Series E round led by SoftBank. The Tractable AI platform, which has been trained on millions of data points, analyses user-submitted photos of cars and homes to assess damages and offer recommendations based on ... Read more ›
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Tromero, a startup founded to repurpose crypto mining networks to train AI, has raised £1.5m in a seed funding round. The startup is aiming to meet the growing demand for computing power to train AI systems. Tromero, which was founded last year, said it plans to solve this issue by combining the workload of AI training ... Read more ›
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Lab automation startup Automata has entered a partnership with an NHS trust to use robots to increase cancer testing by around 2,000 samples per month. The Royal Marsden NHS Foundation Trust, based in London, will install six of Automata’s robotic lab benches to double its genomic testing capacity. The trust said it’s the UK’s first ... Read more ›
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20.06.2026 16:43
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