Impact-focused venture capital firm Elbow Beach Capital is leading a £900,000 round in energy storage startup Allye, UKTN can reveal. The startup, which came out of stealth this month, turns electric vehicle battery packs into portable energy storage systems. Allye’s first product, “the Max”, is a transportable 300kWh capacity battery – enough to power a ... Read more ›
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Worldspan spin-off company Aevus Software has selected Abergele in North Wales to home its global headquarters over London. Picking Wales to home its headquarters follows a six-figure deal in June from the Development Bank of Wales. Speaking to UKTN, CEO of Aevus Software Craig Moss said: “Housing our HQ in North Wales may not seem at ... Read more ›
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An electric vehicle charging startup that span out from Imperial College London has secured £3m in Series A funding to roll out its technology across hundreds of sites this year. Go Eve has developed technology that expands the capacity of EV charge points to service multiple parking spaces at once. The patent-pending technology, called DockChain, ... Read more ›
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Fintech industry body Innovate Finance has said proposals to introduce a digital pound have “tremendous potential” to spur payment innovation in the UK. Innovate Finance submitted its views to a joint consultation by the Treasury and the Bank of England, which aims to determine whether the UK should build a state-backed digital asset and how ... Read more ›
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Startups launch with idealistic cultures that act as conservators of businesses, giving them direction and purpose beyond the commercial sphere. But as a successful startup grows at a considerable pace, how can founders ensure their pervasive culture grows with it, in all the right ways? We face new-ish challenges that’ll compromise culture given half a ... Read more ›
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Despite the recent spate of tech layoffs that has left 212,958 tech workers globally out of a job so far this year, it’s a great time to be a software engineer. That’s because engineers continue to be in high demand across the board—full-stack engineers accounted for 56% of all interview requests in 2022. Smaller companies ... Read more ›
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Alex Stephany is the CEO and founder of Beam, a social enterprise where homeless people can crowdfund themselves to train for a job or find a new home. The Hoxton, East London-based company’s platform lets people donate directly to a homeless person or refugee, showing the goals and progress of the campaign. The tech for ... Read more ›
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A startup developing open-source software for businesses designing custom computer chips has raised £1.2m in pre-seed funding. Cambridge-based ChipFlow is a hardware description language created on top of the programming language Python for developing digital integrated circuits. Companies can use the software to run prospective custom chips through debugging, testing, simulation and verification. Fontinalis Partners ... Read more ›
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Business-to-business money transfer firm CAB Payments has completed its public debut at a £851m valuation in a boost for London’s muted IPO markets. Shares opened at a fixed £3.35 on Thursday on the London Stock Exchange in conditional trading. Its full admission to the premium listing segment of the London Stock Exchange will take place ... Read more ›
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Clinical trial and research platform uMed, which is used by over 130 GPs and 350 patients in the UK, has landed £9.8m in funding to grow its user base in North America. The firm expects to have access to more than 10 million patients by growing its North American presence before the end of the ... Read more ›
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London-based VC firm Notion Capital has landed €300m (£256.3m) for its fintech and business software fund. Bound, DataOps, M3ter and Resistant AI are the first companies to get support from Notion Capital’s fifth fund. Notion Capital said it will make 20 “Series A+” investments from the fintech and software fund. Stephen Chandler, managing partner at ... Read more ›
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Distil.ai has secured £1.1m in a funding round for its platform that pulls in customer behaviour data for ecommerce businesses and segments it using artificial intelligence. The Exeter-based company said it will use the cash infusion to expand its sales and marketing team. Distil was founded in 2018 by data scientist Gerry McNicol, who is ... Read more ›
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The UK is home to the highest proportion of future unicorns – private companies valued at $1bn or more – in Europe, according to a report published by a Swedish venture capital firm Creandum. The report shows how Europe has grown to become a “global tech challenger”, with its share of global VC funding rising ... Read more ›
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AI has the potential to drive a £400bn boost to the UK’s economy by 2030, according to a report by Google. The internet search and advertising giant’s annual Economic Impact Report estimates that generative AI could save the average UK worker more than 100 hours annually. Generative AI is a subset of artificial intelligence that’s ... Read more ›
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Innovate UK is investing £13m into startups developing technologies that include a fossil-fuel chemical goods replacement made from waste cashew shells, bioplastic made from insects and nanofibre bandages. The £13m is divided across 270 UK startups and spinouts that will each receive £50,000 and have not previously had support from Innovate UK, the national innovation ... Read more ›
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The Bank of England is considering a requirement for international banks to operate in the UK as separate subsidiaries instead of local branches, following the crisis at Silicon Valley Bank. First reported by the Financial Times, the Bank of England is considering the move as part of its review into the collapse of SVB earlier ... Read more ›
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There has been no improvement in the share of equity investment deals raised by all-female-founded startups in the last decade, according to new research. While the percentage share of deals going to mixed founding teams with at least one woman was at the highest ever at 27%, the progress for all-female teams had stagnated. The ... Read more ›
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The London stock market faced an underwhelming first half of 2023, with 18 issuers raising £593m as pressure from high inflation, rising interest rates and geopolitical turmoil continue to take a toll. According to big four accounting firm EY, the proceeds raised in the first half of the year are in line with H1 of ... Read more ›
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Entrepreneurship thrives in the UK, thanks in large part to the crucial role played by venture capital investment. Our VC market is the largest in Europe, bigger than France and Germany combined. It delivers essential funding for high-growth potential businesses in software, fintech, the life sciences, deep tech and other R&D-intensive sectors. Equity-backed businesses in ... Read more ›
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HSBC is lending £5m to London-headquartered file-based cybersecurity company Glasswall to enter new markets. Glasswall will use the loan, which comes from HSBC UK’s Growth Lending fund, to enter the Canadian, Australian and New Zealand markets. It currently also has a headquarters in the US. Danny Lopez, CEO of Glasswall, said: “We are extremely excited ... Read more ›
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14.06.2026 02:00
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