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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VC firm Raw Ventures has announced a funding initiative that will offer media tech startups at any development stage the chance to raise up to $1m (£788,000) in investment. The London VC is launching an initiative, called the Global MediaTech Pitch Day, for selected companies to present projects to investors, as well as connect with ... Read more ›
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Edinburgh has been named the UK’s most AI-ready city outside of London, beating out the likes of Oxford and Cambridge, according to new research. The AI Cities Index 2023 from the analytics firm SAS has put the Scottish capital as the city most ready to take advantage of new developments in the rapidly growing AI ... Read more ›
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Tech-focused investment firm Molten Ventures has written down its stake in Revolut by 40% in the latest blow for the British fintech company. The writedown would imply a valuation of around $19.8bn (£15.6bn), down from its 2021 peak when it was valued at $33bn. Molten Ventures – which owns less than 5% of Revolut – ... Read more ›
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The UK data regulator will call on businesses to address the privacy risks of generative AI before incorporating the technology and understand how models are using personal information. Research cited by the Information Commissioner’s Office (ICO) suggests that the generative AI sector could become a £1trn market within a decade and the regulator believes it ... Read more ›
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Manchester-based investment firm Praetura has launched a new venture capital trust (VCT) to back startups in the North of England. The Praetura Growth VCT plc, which is looking to raise an initial £10m, will focus on supporting regional diversification in UK tech investment. Venture capital trusts are a UK investment vehicle that provides tax incentives ... Read more ›
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Off the back of its pre-seed venture funding in January this year, AI-powered upcycling startup Upp has secured a further £800,000 in the form of a government grant. Founded in Shropshire in 2022, Upp has developed a new form of agricultural technology, armed with 3D cameras and machine learning, to efficiently harvest broccoli crops with ... Read more ›
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UK Science Minister, George Freeman has revealed £45m in funding for quantum technology projects from UK Research and Innovation (UKRI). The bulk of the support (£25m) is going towards seven positioning, navigation and timing quantum projects. It follows the £54m of funding announced this morning by tech secretary Chloe Smith for AI research by universities ... Read more ›
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Axle Energy, a startup developing technology described as “virtual wires” has announced its raise of $1.6m (£1.3m) in pre-seed capital. When charging devices such as EVs, the startup’s API adapts depending on when electricity is cheaper and more environmentally friendly. Flexible charging could help OEMs and energy providers with managing the capacity of their services, ... Read more ›
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UK universities will receive a £54m funding boost to support developments in AI research and technology. Announced at London Tech Week by the tech secretary, the funding will be delivered through UK Research and Innovation (UKRI). From the funding, £31m will go towards responsible AI research at the University of Southampton, with the remainder being ... Read more ›
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Lloyds Bank and the Dubai Department of Economy and Tourism (DET) have signed an agreement to collaborate on an insurtech accelerator. The accelerator will give insurtech startups on Lloyds’ Lab programme help with establishing a base and growing operations in Dubai. For Dubai-based insurtechs accepted onto Lloyds Lab accelerator they will gain entry into London, ... Read more ›
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London-based sales tech startup Crono has secured a pre-seed investment of €500,000 (£427,000) 10 months after launching its platform. Crono analyses client data to inform companies how to act to engage potential customers. The company said by customising sales approaches, firms can increase conversion rates and drive revenue growth. Crono, now backed by its first ... Read more ›
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There are more resources for mental health support than ever before. The problem is not everyone experiences mental health issues the same way, and according to elite sailor Jessica Jobson, one group in particular faces intense mental pressure with inadequate support: high-level athletes. “In sport, you’re constantly under pressure to get the most out of your ... Read more ›
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Generative AI firm Synthesia, which creates realistic human avatars that deliver presentations, has raised $90m (£71.4m) and landed a $1bn unicorn valuation. The London-based firm has been one of the UK’s fastest-growing in the generative AI sector, which has exploded in popularity since the launch of ChatGPT in November. The hefty Series C round was ... Read more ›
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Eight UK startups and universities will share £4.3m in government funding to develop space-based solar power technologies to harness energy “day and night” to help meet net-zero targets. Around half of the emission reductions required to meet the 2050 net zero targets need to come from technologies not yet fully commercially available, the UK’s energy ... Read more ›
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The British fintech Payrow is aiding retail businesses by equipping them with the tools to streamline their financial activities. By focusing on automating routine processes, providing cost-effective accounting services, and delivering comprehensive payment and invoicing solutions, Payrow ensures that retailers can manage their businesses with ease and efficiency and decrease their operating expenses. Representatives from ... Read more ›
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London-based renewable energy startup Tem. has raised £2.5m for its AI-driven platform that matches businesses with clean generators. Founded in 2021, Tem. was created to offer businesses a way to bypass inefficient utility solutions and instead buy energy based on specific needs. The Tem. platform allows buyers to purchase energy directly from the renewable generators ... Read more ›
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The UK must “fast forward” on AI regulation and ensure everyone benefits from the latest technological advancements, Labour leader Sir Keir Starmer has said. Speaking at London Tech Week, Starmer said there is “huge potential” and “incredible opportunities” with AI, but there are also risks around misinformation and threats to some jobs. Starmer said he ... Read more ›
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Omnevue, a London-based startup that provides ESG accounting for companies, has secured $3.1m (£2.5m) in seed funding. The company has developed a software engine to provide what it describes as audit-grade ESG accounting. These tools can assess the sustainability and ethics of clients in a similar way an accounting firm might assess the finances of ... Read more ›
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London-based fintech company GoCardless will cut 15% of its workforce in a cost reduction measure that will affect around 135 jobs. In a company blog post, GoCardless CEO Hiroki Takeuchi said that the “current economic environment” had left the company in a position where it needed to “reduce investment in initiatives with longer-term payback”. “For ... Read more ›
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The constituency of Manchester Central is home to the most tech startups outside of London at 252, according to a new report. Eight out of the top-ranking constituencies are in London, including all of the top five, according to startup lobby group Coadec, which rebranded to the Startup Coalition on Monday. Dom Hallas, executive director ... Read more ›
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21.06.2026 00:12
Last update: 00:06 EDT.
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