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
Tech1M, an AI-powered recruitment automation and skill assessment software platform for businesses, has landed a $750,000 (£581,000) pre-seed investment to simplify hiring processes. Founded by Tommie Edwards (CEO) and Damilola Ogunmoye (CTO), the Techstars-backed startup aims to reduce hiring costs, improve the quality of hires, and accelerate talent acquisition. With AI serving as a “co-pilot” ... Read more ›
0
Challenger bank Monzo is entering the pensions market with the launch of a new product to consolidate pension contributions. Monzo Pension was launched by the fintech following customer research that found the majority of UK adults (77%) felt anxious about pensions and just under a third (30%) found the process of pension consolidation complicated. Monzo ... Read more ›
4
iTero Gaming, a Welsh startup specialising in AI coaching solutions for competitive gamers, has been acquired by esports organisation GIANTX in a multi-million-pound deal. Developed by Jack Joseph Williams from his small cottage in Cardigan, West Wales, iTero Gaming analyses millions of past games and suggests the best characters to play, along with additional features ... Read more ›
0
Morgan Stanley has led a $31m (£24m) investment into London-based payments startup Sokin, which was previously backed by a former Manchester United star. Founded in 2019, Sokin is an international remittance provider for businesses. It offers payments in over 100 currencies. The company said it facilitates over $2.5bn in transactional volume per year. The latest ... Read more ›
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As part of last week’s King’s Speech, Labour announced several initiatives geared towards growing the UK economy, including a £7.3bn National Wealth Fund (NWF). The fund, which was a key pledge in the party’s manifesto, has already been allocated so investments can be made as soon as possible in areas such as ports, manufacturing and ... Read more ›
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FinLegal, a platform for managing class actions and large numbers of similar claims, is the first South Yorkshire startup to secure investment from the Northern Powerhouse Investment Fund II (NPIF II). Founded in 2019 by Steven Shinn, an IT specialist, the company secured £2m from NPIF II, which is managed by investment firm Mercia. The ... Read more ›
2
The UK competition watchdog has signed a joint statement with authorities in the EU and the US agreeing on a shared approach to AI competition regulation. The Competition and Markets Authority (CMA), along with the European Commission, the US Federal Trade Commission and the US Department of Justice have together outlined their position on managing ... Read more ›
0
London-based Carwow Group, which includes the Carwow online marketplace, Auto Express, Evo, Driving Electric, and Carbuyer, has raised $52m (£41m) in a new funding round. Founded in 2013 by James Hind, Alex Margolis, and David Santoro, Carwow says more than 10 million customers have used its tools to buy and sell cars. Its new funding ... Read more ›
0
Ocula, a Belfast-based startup using AI large language models with the goal of boosting ecommerce return on investment, has raised £3.25m. Founded in 2021, Ocula works with digital teams from retail platforms such as Boots, AO and Hornby. The startup claims its AI tool, Ocula Boost, can generate improvements to product pages, including drafting product ... Read more ›
1
London-based fintech Plum has said it is “well-placed for profitability” off the back of a £16m Series B round split between institutional investors and crowdfunding. Founded in 2016, Plum is a personal finance app featuring investment accounts, payment cards and automated saving and financial management tools. The most recent accounts from the company, for the ... Read more ›
8
A startup using AI to create personalised extended reality audio-visual experiences for the BBC is among nine firms to receive a share of a £450,000 creative industry prize fund. The latest cohort of the MyWorld accelerator programme from Digital Catapult, a UK innovation agency, will focus on bringing innovative technology to the creative industries. Nine ... Read more ›
2
This week’s UKTN Podcast guest is Smart Green Shipping CEO and founder Diane Gilpin, who discusses the astronomical climate impact of the shipping industry, why Scotland is the perfect place for a woman entrepreneur in climate tech, and why government funding is vital alongside private investment into the green technology space. Gilpin founded Smart Green ... Read more ›
0
Eight national projects, including a sub-orbital rocket, microreactors for space exploration, and a heat-detecting telescope, have secured £24m in funding from the UK Space Agency’s National Space Innovation Programme. When including private sector commitments, the value of the projects rises to £33m. The initiative aims to support high-potential space technologies and drive growth across the ... Read more ›
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Ocado Group has announced an expansion of its partnership with US retail giant Kroger, which placed an order for the firm’s Re:imagined technologies to power fulfilment centres. The London-listed grocery firm has been committed to investing in its tech capabilities, notably its robotically operated automated customer fulfilment centres (CFCs). Ocado has now secured a significant ... Read more ›
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Startups working on solutions to reach net zero goals are driving innovation in the South West but the region is being “overlooked” by key investors and the government, a report has found. The South West of England’s tech sector attracted investment totalling £454m in 2023, nearly a 60% drop on the year prior but still ... Read more ›
2
London-based generative AI legal tech startup Robin AI is expanding into Singapore months after securing funding from an investment company owned by the Singaporean government. Robin AI, which has developed a platform to automate menial and repetitive legal tasks such as document drafting, is establishing a physical footprint in Singapore’s Robinson Road WeWork building. The ... Read more ›
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New research reveals that more than half (52%) of knowledge workers now use generative AI at least once a week. Considering this, you’d be forgiven for thinking that knowledge levels are quite high. Not so. AI literacy remains quite low, with 64% of workers saying they have little to no familiarity with AI tools. This ... Read more ›
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Major banks, media, airports, and businesses, including the London Stock Exchange (LSEG), have been impacted by a global IT outage stemming from a defect in a CrowdStrike update rolled out across Microsoft Windows. The outage has taken a large slice of the world’s digital infrastructure offline. Microsoft said that it was looking into the problem and ... Read more ›
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This week’s UK tech funding deals include digital health firm Huma, AI due diligence tool Xapien, SME business account provider Waymo and more. UKTN tracked £126.1 worth of UK tech investment this week (15 July to 19 July), a 374% week-on-week increase across 14 funding rounds. Here’s your weekly roundup of UK tech startup funding ... Read more ›
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Securing funding for a startup from venture capital (VC) or angel investors can be a challenging process for founders, which means many are looking for advice and tips from those writing the cheques. With half of small business owners in the UK concerned that their business won’t survive the next 12 months, it’s important for ... Read more ›
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Most popular sources
Business Insider
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27% 1 |
Tech Wire Asia
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15% 10 |
CNET
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7% 4 |
The Verge
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6% 2 |
Gizmodo
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6% 1 |
| View sources » | |
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28.11.2024 00:56
Last update: 00:45 EDT.
News rating updated: 07:50.
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