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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Fintech unicorn Revolut has surpassed 30 million customers worldwide amid ongoing difficulties with UK regulators as it awaits an official decision for its banking licence application. The financial services company has grown its retail customers by almost one million in the last month, with five million new users added since it hit the 25 million ... Read more ›
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London-based AI medical imaging startup Hypervision Surgical has scooped £6.5m in an oversubscribed seed round. The King’s College London spinout is developing medical imaging for surgery by combining AI hyperspectral imaging and edge computing. Michael Ebner, CEO and co-founder of Hypervision Surgical, said: “Imagine a complex tumour surgery where surgeons can rely on precise measurements ... Read more ›
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Monzo has achieved monthly profitability for the first time, a major milestone for the digital challenger bank as it narrowed its substantial losses for the 2023 financial year. The London-headquartered fintech said on Wednesday that revenue for the year ended February 2023 increased from £154.2m to £355.6m. While Monzo said it made a profit in ... Read more ›
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Figures in the UK AI community have had a mixed reaction to the strongly worded warning that AI posed a genuine risk of human “extinction”. The joint statement, organised by the Centre for AI Safety and signed by prominent AI experts including OpenAI’s Sam Altman, was published yesterday. The statement read: “Mitigating the risk of ... Read more ›
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London-headquartered fintech company Monneo, a provider of virtual IBAN accounts, has entered special administration. Corporate restructuring firm FRP Advisory has been appointed joint special administrators to salvage customer funds from the insolvent fintech company. Monneo, formed in 2016, provides ecommerce account services including banking, cards, FX and payouts. It was told to cease all regulated ... Read more ›
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The chief executive of the Financial Conduct Authority (FCA) has met with leaders in the Northern Ireland fintech community to discuss the region’s strengths and opportunities. Nikhil Rathi, who was appointed as the CEO of the UK financial regulator in 2020, met with regional fintech companies at the event hosted by the financial service consultancy ... Read more ›
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Belfast-based electric vehicle (EV) company Weev will launch a major charging point rollout, backed by £50m with support from Octopus Investments. Weev is looking to address what it sees as a critical shortage of EV facilities in Northern Ireland, which according to the Department for Transport has a much lower supply of charge points – ... Read more ›
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Following mounting pressure from the UK tech and manufacturing industries, the government finally released its long-awaited national semiconductor strategy in May, dedicating £1bn to safeguarding chip supply chains and driving growth in the sector. The new strategy provides much-needed clarity at a time when the semiconductor industry is still recovering from major supply chain disruption ... Read more ›
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Manchester is the largest city region economy outside London. Its vibrant tech sector plays an important role in that growth, which is in turn underpinned by robust digital infrastructure. Greater Manchester is a £5bn digital powerhouse with sub-sector strengths in cybersecurity, AI, ecommerce, fintech, gaming and creative. It has proven fertile ground for the more ... Read more ›
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Startup-focused lender Silicon Valley Bank UK (SVB UK) is planning to rebrand next month after it was acquired by HSBC in a £1 rescue deal. The UK subsidiary of the California bank will change its name to “HSBC Innovation Banking” and is expected to be unveiled at London Tech Week in June, Sky News reported ... Read more ›
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London-based Qflow, a startup looking to clean up one of the world’s most carbon-intensive industries, has closed £7.2m in funding to scale its operations. Founded in 2018, Qflow has built a digital platform for use in the construction industry that collects data on materials and waste in real-time. According to the company, construction teams can ... Read more ›
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Venture capital firm Talis Capital has closed $100m (£80.9m) out of a target of $175m (£141.7m) for its third and largest fund. The investor will carry on backing tech infrastructure, climate, synthetic biology and consumer internet businesses at the seed to Series A stage. “The tech industry is undergoing a moment of transformation, yet history’s ... Read more ›
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Carbon removal platform CUR8 has captured investment from Google Ventures in its £5.3m pre-seed funding round. The climate tech startup works with companies removing carbon via methods such as direct air capture, biomass storage, soil rewilding, enhanced rock weathering and accelerating carbon cycles in oceans. CUR8 then sells carbon credits on its platform in the ... Read more ›
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This month, London & Partners, backed by the Mayor of London, launched ‘Grow London’ – a new business offer to support London and international companies to expand their businesses and support London’s economic growth. One of the new initiatives is Grow London Global – a free 12-month programme for London’s high-growth tech companies wanting to ... Read more ›
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In the latest episode of the UKTN Podcast, Antony Walker, deputy CEO of techUK, discusses some of the key policy areas affecting the country’s tech companies, from AI to the online safety bill. He also reflects on how the economic shocks of Brexit and the pandemic have impacted UK tech, and the role the UK ... Read more ›
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Is London, and the UK more broadly, becoming less attractive for technology businesses? Judging by recent comments from the founders of Revolut and Monzo, or executives at Microsoft and Activison, you’d be forgiven for thinking the UK is losing its standing as a global tech hub. Regulatory roadblocks, a lack of liquidity, and the UK’s ... Read more ›
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Artificial intelligence (AI) has exploded into the mainstream thanks to tools like ChatGPT. The economic and geopolitical stakes are high as countries compete in a fresh race to advance their AI industries. Can the UK be a world leader in AI, as the government intends? While the UK has a history of trailblazing tech innovation, ... Read more ›
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It’s hard to escape ChatGPT’s prevalence in the AI computing world. While much has been written about its capabilities, there has been much less insight into its technical makeup and whether the UK has the technological means to exploit the new technology and support the expected growth requirements. To aid this growth, the UK government’s ... Read more ›
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Biotech company Benevolent AI is cutting half of its workforce in a cost-reduction strategy that will affect 180 staff. The AI drug discovery firm, run by a former advisor to David Cameron, Baroness Shields, is looking to save around £45m with the strategic shift, which includes layoffs as well as scaling back its lab facilities. ... Read more ›
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Australia-headquartered design software company Canva is opening its first London office, a vote of confidence in the capital at a time when the founders of Revolut and Monzo have questioned the attractiveness of the UK for businesses. Canva’s UK expansion, its first base in Europe, comes after the software firm acquired London-based data visualisation platform ... Read more ›
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21.06.2026 03:37
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