TikTok has been fined £12.7m by the UK’s data regulator for multiple breaches of British child protection policy. The Information Commissioner’s Office (ICO) said the Chinese-owned video-sharing app did not do enough to police age restrictions on its platform. Information Commissioner John Edwards said that an estimated “one million under 13s were inappropriately granted access ... Read more ›
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An Edinburgh-based startup developing a robotic glove to help people rehabilitate from a stroke has received £2.2m from investors. Bioliberty’s Lifeglov robotic glove assists stroke patients in opening and closing their hands to support upper limb rehabilitation. The company has developed software that gives custom exercises and feedback, which means stroke patients do not need ... Read more ›
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ClearBank, an embedded banking provider, has nearly tripled its year-on-year income to £58m in 2022. The income for the year ending 31 December is a significant increase from 2021’s £21m. The fintech said it achieved monthly UK profitability for the first time last year, despite turbulence in the sector. According to the company’s full-year 2022 ... Read more ›
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Embattled embedded finance platform Railsr has appointed a new leadership team, consisting of a CEO, CFO and COO, after it was acquired by an investor consortium in a rescue deal last month. Philippe Morel takes the role of CEO, Debbie Lotz is the new CFO and Nick Charteris rejoins Railsr as COO. Rick Haythornthwaite, chair ... Read more ›
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Forefront RF, a fabless semiconductor startup based in Cambridge, has secured £6.7m to further its work in the radio frequency (RF) market. The University of Bristol spinout is developing chips that operate on mobile data frequency bands that aim to simplify the design of smartphones, wearable tech, and internet of things (IoT) devices. The company ... Read more ›
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Virgin Orbit has filed for voluntary insolvency as financial woes deepen at the satellite launch company just months after its failed launch from Spaceport Cornwall. On Tuesday the US-headquartered company filed for Chapter 11 of the US Bankruptcy Code and said it is looking for a buyer. The rapid and uncontrolled reentry comes a week ... Read more ›
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Digital pharmacy startup Phlo has acquired the UK assets of US rival Truepill for an undisclosed sum, hot off the heels of raising £10m in Series A funding last month. Phlo has obtained Truepill’s NHS patient, APIs and prescribing technology in a consolidation of the digital pharmacy market. Phlo also gains Truepill’s partnerships with UK ... Read more ›
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Tessa Clarke thinks the reason we waste so much food is because we are “no longer connected to our local communities”. To address this problem, Clarke launched the food-sharing app Olio in 2015. The Olio co-founder is this week’s guest on the UKTN Podcast, explaining the business model behind the circular economy and community-led app. ... Read more ›
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Tech Nation will continue providing endorsements for the Global Talent visa scheme until a replacement is found, the government has confirmed. The startup network ceased operations at the end of March after losing its primary revenue stream, which came via a DCMS government grant, to Barclays Eagle Labs in an open tender process. Although Tech ... Read more ›
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Data analytics firm Quantexa has entered the unicorn club, reaching a valuation of $1.8bn (£1.5bn) after securing $129m (£103.9m) in Series E funding. Quantexa’s funding round was led by GIC, with additional capital coming from Warburg Pincus, Dawn Capital, British Patient Capital, Evolution Equity Partners, HSBC, BNY Mellon, ABN AMRO, and AlbionVC. Several of its ... Read more ›
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Despite a cooldown in interest around the metaverse, some startups are continuing to develop technology and attract capital from investors. One of those companies is LandVault, which has secured an additional $3m (£2.4m) in funding to build virtual worlds for clients in the gaming secor. The latest funding boost is an extension of a $25m ... Read more ›
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Mortgage platform Acre has secured £6.5m in late seed funding from the McPike Global Family Office, Aviva and Brent Hoberman’s Founders Factory. Acre is used by brokers, banks and insurers to store insurance products and client information. It provides mortgage applicants with a hub to verify their identity, submit information, track an application’s progress and ... Read more ›
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The CEO and CFO of embattled data company WANdisco have stepped down after an internal fraud investigation found over $115m in missing purchase orders. David Richards, the co-founder and chief executive, and financial officer Erik Miller, will leave their roles WANdisco with immediate effect. They are also stepping down from the board, though as of ... Read more ›
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A lab building totalling 14,000 square feet has opened its doors to life science startups and scaleups in Kent following a refurbishment project. The project, which comes from UK-based lab developer Pioneer Group, is aiming to address the shortage of laboratory space in the South East of England. The refurbished space, called Ventures Building, is ... Read more ›
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Eight universities from the Midlands have launched a new investment firm to help spinouts in the region commercialise ideas born out of academia. Midlands Mindforge is looking to raise up to £250m in long-term capital to back spinouts and early-stage companies from the region. Professor Trevor McMillan OBE, chair of Midlands Innovation Board and vice ... Read more ›
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QV Bioelectronics, a startup developing an implant that uses electric currents to treat brain tumours, has received an £860,000 grant from Innovate UK. The startup’s first implant, called GRACE, is currently in pre-clinical development. It is aiming to treat glioblastoma, the most common primary brain tumour, with electric field therapy (EFT). The Cheshire-based company said ... Read more ›
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As the global energy crisis intensifies, so too does the effort to tackle it — and increasing attention is coming from the tech sector. Climate tech investment from the Seedrs investment community soared in 2022. And with private investing becoming a popular route for consumers to back the businesses they believe can shape the world, ... Read more ›
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The Greater Manchester fintech economy is on track to contribute £1bn to the local economy before the end of the year, a new report has found. Fintech businesses in Manchester are currently worth £905m or 6.5% of the country’s fintech gross added value, according to a report published by Whitecap Consulting and FinTech North. That ... Read more ›
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After more than a decade of supporting the UK’s startups and scaleups, Tech Nation closes its doors today. Back in 2010, when the seed for the idea that would become Tech Nation first emerged during a government trade mission to India, the UK’s tech ecosystem was very different. From Deliveroo to Revolut, household UK tech ... Read more ›
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Online car retailer Cazoo has posted losses of £704m in its financial results, an increase of 30% from the year before, despite a sharp boost in revenue. Founded in 2018, Cazoo is an online platform that sells second-hand vehicles that are delivered to customers’ homes. The London-based vehicle seller grew revenues by 91% to £1.25bn, ... Read more ›
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14.06.2026 19:50
Last update: 19:20 EDT.
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