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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Klarna’s former UK boss, Alex Marsh, has joined the board of the Treasury-backed fintech body, the Centre for Finance, Innovation and Technology (CFIT). Marsh, who ran BNPL firm Klarna’s UK operations from 2020 to May of this year, will join the board of the fintech body, where he will support the growth of the UK ... Read more ›
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Robotic kitchen automation startup Karakuri has appointed administrators after failing to secure further capital, putting 30 jobs at risk and highlighting the challenging funding environment for startups. The London-based company has developed a robotic arm that serves personalised sushi dishes, and an automated fryer for chips. A Karakuri spokesperson told UKTN a “rescue deal is ... Read more ›
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US tech giant Amazon has launched a new financing programme for UK ecommerce businesses, in partnership with London-based embedded finance firm YouLend. Described by the companies as flexible financing, the programme will allow businesses in the UK that sell products through the Amazon marketplace to access advanced funds of up to £2m. The funding is ... Read more ›
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VC firm Boost Capital Partners is launching an inaugural fund to back early-stage startups, with the first close standing at $30m (£23.5m). It will make investments of up to $750,000 (£587,000) in pre-seed to seed startups and provide follow-on capital. Target areas for the Boost Capital Partners’ fund are health, finance, wellness, entertainment, education and ... Read more ›
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KPMG’s Emerging Giants practice has announced the shortlist of 80 tech businesses from across the UK that will go head-to-head in a bid to be crowned the 2023 Tech Innovator in the UK. Following a record number of nearly 400 applications, 10 successful tech businesses from eight regions across the UK have been selected to ... Read more ›
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Large datasets to train AI models like ChatGPT are highly sought after, but that data isn’t always easy to obtain and fraught with privacy risks. In the latest episode of the UKTN Podcast, Hazy CEO and co-founder Harry Keen explains how synthetic data can address some of the challenges for businesses in the data-hungry age of ... Read more ›
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SphereTrax, an AI-based music licensing platform, has secured £100,000 in an equity funding round from the film and TV rights company Fintage House. Founded in 2022, SphereTrax is a platform for filmmakers, ad agencies, video game developers and other creative industry workers to source music for their content uploaded by artists. The Hereford-based startup was ... Read more ›
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VC firm Brighteye Ventures has closed €100m (£85.2m) for its European early-stage edtech fund. Brighteye Ventures said it will invest in startups at the seed and Series A stages. Investors in the edtech fund include the European Investment Fund, Jacobs Foundation, Partners in Equity along with family offices in Europe, Asia and the Middle East. ... Read more ›
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The government has announced £72m of funding to develop the UK’s scientific research infrastructure as part of a bid to become a “science and tech superpower”. The funding, which will be delivered through UK Research and Innovation (UKRI), a public body, will target new infrastructure projects as part of the government’s Science and Technology Framework. ... Read more ›
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The government has appointed tech entrepreneur and investor Ian Hogarth to chair the recently launched AI taskforce, which will assess the risks and opportunities associated with advanced foundation models such as those powering ChatGPT. The Foundation Model Taskforce, launched with an initial £100m in public funding, will oversee research into AI safety amid warnings from ... Read more ›
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Chester-based education software company iAM Compliant has scored £1.42m from regional investment firm Maven. Edtech iAM Compliant provides an e-learning library and compliance management software, which is targeted towards schools. Its compliance checking covers tasks associated with school management, health and safety, and incident reporting. “This investment allows us to build on our increasing market ... Read more ›
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The Welsh biotech sector will benefit from 54,500 square feet of new lab space after property developer Pioneer Group secured planning permission for the site Cardiff Edge Science Park. The space will be available to life science and biotech firms of all sizes, from startups and scaleups to major multinational companies. The lab development is ... Read more ›
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There’s no denying we are in the midst of an economic downturn. Spending has slowed, prices have risen, and redundancies continue to be announced, particularly in the tech space. This year alone, 81,000 employees have been laid off across the UK during March 2023 — including even the most secure tech giants like Amazon, Google, ... Read more ›
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The 10th London Tech Week has drawn to a close after the sizzling conference attracted more than 30,000 technology aficionados, with some 3,500 startups and over 850 investors among their ranks. Hot topics at the sweltering Queen Elizabeth II Centre spanned from AI to edtech, and from web3 to startup founder tips. The 10th anniversary ... Read more ›
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The UK’s competition regulator has cleared a deal for Amazon to acquire iRobot, the developer of the Roomba vacuum. The deal, which was first announced in August 2022, initially came under investigation from the Competition and Markets Authority (CMA) over concerns that Amazon could disadvantage rival firms with the deal. The CMA’s primary focus was ... Read more ›
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Dubai International Chamber is opening a London office to support UK businesses expanding or moving operations to the Emirati city, with a focus on scaleup companies. It is Dubai International Chambers’ first European office, signalling a vote of confidence in the UK’s tech startups and scaleups. “The United Kingdom has always been a key strategic ... Read more ›
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The safety tech sector is expected to be worth £1bn by the mid-2020s, according to a new government analysis. In an independent report on the sector, published by the science and tech department, it was revealed that the safety tech industry has grown significantly in the past year. The report estimated that the total sector ... Read more ›
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The Ministry of Defence (MoD) has signed a deal with Google to adopt its AI technology and explore how it can be used to support the defence sector. The Defence Science and Technology Laboratory (Dstl), which is an executive agency of the MoD, has agreed to work with Google Cloud to upgrade the department’s tech ... Read more ›
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Digital bank Zopa is continuing to revamp its leadership team ahead of a planned London IPO, hiring a new chief technology officer and chief operating officer. The London-based company has hired former Moonpig CTO and Sainsbury’s head of development Peter Donlon, who becomes Zopa’s new chief technology officer. Kate Erb, who has worked for KPMG ... Read more ›
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Charlotte Guzzo is the co-founder and COO of Sano Genetics, a healthtech startup that connects patients that have rare and chronic diseases with personalised medicine providers. Sano Genetics’ platform lets patients with rare and chronic conditions, such as Parkinson’s, contribute to precision medicine research at no cost and from home. It charges a subscription to ... Read more ›
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21.06.2026 00:12
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