The Manchester Prize has returned for its second year as the British government hopes to incentivise AI innovation in the clean tech sector with £2m of prizes. First announced by former chancellor Jeremy Hunt during the 2023 Spring Budget speech, the Manchester Prize is an annual competition for AI developers in the UK managed by ... Read more ›
15
Stairpay, a platform aiming to simplify the process of shared ownership for first-time buyers, has raised £750,000 in pre-seed funding. There are 8.5 million people currently renting but fewer than 20,000 shared ownership properties became available in 2021-2022, according to government figures. While there is no recent data on available shared ownership properties for this ... Read more ›
0
This week’s UKTN Podcast guest is Luminance CEO Eleanor Lightbody, who discusses the risks of law firms using ChatGPT, the importance of using the right AI model for the task at hand, and the need for flexible AI regulation that caters to different sectors. Founded by AI experts from the University of Cambridge in 2015, ... Read more ›
5
Growth equity investor Kennet Partners’ has closed a €266m (£225m) fund to invest in “high growth” B2B software businesses. The ‘Kennet VI’ fund is the London-based investment firm’s largest to date. It includes a €35m (£29m) commitment from British Patient Capital (BPC), a subsidiary of the state-owned British Business Bank. BPC invested alongside new and ... Read more ›
2
Komi, a Manchester-based digital media platform used by Idris Elba, has secured a £5.5m investment from the Business Growth Fund (BGF). The startup works with celebrities, offering a white-label content hub and merchandise digital store. Komi has previously worked with Elton John, Niall Horan and Matthew McConaughey. Along with a customer-facing mini-site, clients can launch ... Read more ›
1
Shuffle, a newly launched startup investment platform, is investing an initial £2.5m into Manchester’s hospitality industry in the hope of driving commercial growth in the city. Founded by former Antler VC fund partner Ollie Purdue, CEO, and Enzo Ottens, COO, Shuffle will provide upfront capital to its partner venues without requiring hospitality businesses to give ... Read more ›
15
Scottish generative AI fintech Aveni has secured an £11m funding round featuring investments from Lloyds Bank and Nationwide. Founded in 2018, Aveni develops large language models (LLMs) for the financial services industry. Among the company’s products is a natural language processing system to analyse customer conversations and automate processes for regulated professional services. The investments ... Read more ›
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There’s no arguing that the UK has an abundance of tech talent. From DeepMind to Wayve, there’s a proliferation of innovation coming out of Silicon Fen, London and elsewhere in the country. Microsoft’s recent decision to open an AI hub in London is further evidence. The ostensible ‘problem’ is that we can’t manage to retain ... Read more ›
0
This week’s UK tech funding deals include online vehicle retail service Carwow, AI-powered savings and investment app Plum, digital recruitment platform Tech1M and more. UKTN tracked £114.2m worth of UK tech investment this week (22 July to 26 July), a 10% week-on-week decrease across 11 funding rounds. Here’s your weekly roundup of UK tech startup ... Read more ›
0
Primary Portal, a fintech developing and operating digital infrastructure solutions for equity capital markets, has secured a €8.9m (£7.5m) Series A investment. This first half of its funding round was led by the venture capital arm of Deutsche Börse Group, DB1 Ventures with participation from existing shareholders Dutch Founders Fund and Flow Traders. The London ... Read more ›
6
The UK, along with 90 other nations, has entered a global digital trade agreement to make international ecommerce faster, cheaper and more accessible. The E-Commerce Joint Initiative from the World Trade Organisation (WTO) will commit all participants to digitalise customs processes, in a potential boost for businesses. This means the end of the numerous print ... Read more ›
6
Fractile, a London-based AI chip startup looking to break up the dominance of Nvidia, has emerged from stealth with a £12m seed round. Founded in 2022, Fractile claims the AI industry’s over-reliance on a small variety of chips is limiting its performance. The company said the chips used by the largest AI companies are well-suited ... Read more ›
1
A startup developing biomaterials with the potential to be used in a wide range of 3D-printed implants and surgical devices has raised £3.4m in Series A investment. Nottingham-based 4D Medicine is a spinout from the universities of Birmingham and Warwick and its founders, Philip Smith and Dr Andrew Dove, have developed a resorbable biomaterial called ... Read more ›
6
George Proud is the CEO and co-founder of Gendo, a startup that has created a platform for architects to turn text prompts and sketches into realistic visualisations. Founded in 2022 by Proud and Will Jones, Gendo’s technology has been used by the likes of Zaha Hadid Architects, Benoy, KPF, David Chipperfield Architects. The London-based startup, ... Read more ›
8
Addionics, a startup that makes components for rechargeable batteries used in electric vehicles (EVs), has announced a Series B funding round of $39m (£30m). The investment will go towards growing teams across the globe, expanding its manufacturing and commercialisation efforts, and improving the construction of its planned US-based gigafactory. Addionics manufactures current collectors, which conduct ... Read more ›
1
A Coinbase subsidiary has been fined £3.5m by the UK financial watchdog for onboarding “high-risk” customers without authorisation. CB Payments Limited (CBPL), a UK-incorporated entity and part of Coinbase Group, was fined by the Financial Conduct Authority (FCA) for violating the terms of a voluntary requirement it entered in 2020. CBPL agreed to address security ... Read more ›
2
British fintech Revolut, has secured a banking licence in its home country after a more than three-year wait. The London-based company was founded in 2015 and has grown rapidly to become one of the UK’s most valuable private tech firms. Despite being referred to alongside the likes of Monzo and Starling, the company has been ... Read more ›
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Jarvis, a London-based fintech for employees to plan their retirement, has closed a £1.8m seed funding round. Founded in 2022, Jarvis has developed an app to manage personal and workplace pension jars. Users can also receive insights and support for more specific retirement goals. These include budget setting, planning joint retirements, consolidating old pensions and ... Read more ›
0
Keir Starmer was first elected to parliament in 2015 – and it’s fair to say a lot has happened in politics since. Back then, not many people had five Conservative prime ministers, three general Elections, and a politically relevant lettuce on their list of predictions for the next ten years. But looking more widely, many ... Read more ›
0
Halocycle, a Hull-based technology scaleup which carries out advanced recycling of PVC and other chlorine-containing plastics, has beaten off competition from fast-growth businesses from across the UK to be crowned KPMG’s UK Tech Innovator 2024. Close to 400 applications to the competition were reduced to a shortlist of 80 companies selected from regions across the ... Read more ›
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Metaverse unicorn Improbable has posted its first year of profit since launching over a decade ago, netting £11m after tax in 2023. Improbable, which builds the underlying technology for various metaverse ventures in gaming, entertainment and more, posted a revenue bump of 37%, reaching £66m for the year ended December 2023. Founded in 2012, Improbable ... Read more ›
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Most popular sources
Business Insider
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26% 2 |
Tech Wire Asia
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16% 11 |
CNET
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7% 4 |
Eurogamer.net
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6% 2 |
The Verge
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6% 2 |
| View sources » | |
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27.11.2024 22:39
Last update: 22:16 EDT.
News rating updated: 05:31.
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