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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The chancellor is set to offer a £50bn cash boost to high-growth startups as part of a deal with some of the UK’s biggest pension funds and insurers. Chancellor Jeremy Hunt is expected to unveil the reforms this evening during a speech at Mansion House. The startup funding pool represents a 5% slice of the ... Read more ›
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London startup BoxxDocks, which is developing collapsable and trackable boxes for use in the logistics sector has raised £250,000 in pre-seed funding. The British Design Fund supplied the majority of the pre-seed investment – £150,000 – with other investors including Techstars. BoxxDocks says its 100% recyclable boxes can shrink down to half their size and ... Read more ›
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A loophole in Revolut’s payment system in the US was exploited by criminals who may have stolen more than $20m (£15.6m) last year. First reported by the Financial Times, sources close to the situation said the incident stemmed from a difference between the Revolut payment systems in the US and Europe. The difference meant that ... Read more ›
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Philip Jansen, the chief executive of the British telecoms giant BT Group, has announced he is stepping down within the next 12 months. BT Group’s next CEO is yet to be decided by the board’s nominations committee. “Philip has done an excellent job in his time at BT and the board is fully supportive of ... Read more ›
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UK fintech funding has slumped in the first half of the year as cautious investors continue to navigate high interest rates and a fall in economic activity. Newly published figures from Innovate Finance, the UK fintech industry body, have revealed that the sector raised $2.9bn (£2.3bn) in the first half of 2023, representing a 37% ... Read more ›
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Since the explosion of large language models (LLMs) into the mainstream, there have been multiple calls from tech leaders and AI scientists to pause developments and consider perceived risks in a similar vein to a pandemic or a nuclear war. The reason behind this narrative is safety. Policymakers, labs and independent experts say they need ... Read more ›
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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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20.06.2026 18:32
Last update: 18:20 EDT.
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