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 ›
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Samsung Electronics has signed an agreement to acquire Oxford Semantic Technologies, a UK startup specialising in knowledge graph technology. While the financial terms of the deal have not been disclosed, the move is aimed at expanding the AI capabilities within Samsung’s range of products, from mobile devices to home appliances. Founded in 2017 by three ... Read more ›
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SME digital finance account provider Wamo has secured a $5m (£3.8m) bridge round ahead of a planned Series A investment. The London-based fintech, which offers payment accounts to businesses, secured the equity investment from Turkish VC firm Logo Ventures along with Finberg and Re-Pie Asset Management. “Since launching Wamo, we’ve been relentlessly focused on removing ... Read more ›
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A startup that has created post-production software used for projects that have appeared on Netflix and Sky has secured a £2m investment. Founded in 2022 by broadcast industry expert Simon Green, Edit Cloud is aiming to streamline collaboration in the post-production sector with a suite of cloud-based workflow tools. The London-based startup’s virtual editing platform ... Read more ›
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Daresbury-based life science startup Spotlight Pathology has raised £125,000 in the latest investment from LYVA Labs. The University of Manchester spinout develops AI tools for diagnosing blood cancer. Research has suggested there is a significant shortage of trained pathologists in the UK, with those remaining facing extreme workloads. Spotlight is hoping to ease this pressure ... Read more ›
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Luscid, a startup that has developed a software platform for brands to find and track sponsorship opportunities using data-driven insights, has secured £1m in seed funding. The London-based startup is looking to take a different approach to the sponsorship industry, which has typically been driven by human biases and commercial agreements between consultants and rightsholders. ... Read more ›
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AI legislation has been officially announced in the King’s Speech on Wednesday as Keir Starmer’s Labour government moves away from the wait-and-see approach of the previous Conservative administration. During the general election campaign, Labour made a handful of promises to take legislative action to ensure AI safety. The King’s confirmation of this, made during the ... Read more ›
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Hey Savi, an AI-powered search and recommendation platform, has secured £2.2m pre-seed investment to shake up what it describes as the “outdated” shopping experience. The startup aims to help consumers find their perfect outfits in under a minute by connecting them to retailers that have outfits in stock with the right size and at the ... Read more ›
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London-based cultivated meat startup Meatly has become the first company in Europe to receive regulatory approval to sell lab-grown pet food. The approval, granted by the Food Standards Agency (FSA), also makes Meatly the first company in Europe approved to sell cultivated meat of any kind. The nascent lab-grown meat sector in the UK and ... Read more ›
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Briefly Bio, a London-based biotech startup providing a tool to make lab work reproducible, has raised $1.2m (£920,000) in funding. The startup, which claims that science is in a “reproducibility crisis,” says that lab scientists struggle to reproduce and build on top of each other’s experiments while the data scientists don’t have the necessary context ... Read more ›
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AI-powered due diligence startup Xapien has raised £8m in a YFM Equity Partners-led Series A funding round. Founded in 2018, Xapien has developed a platform for businesses to conduct due diligence checks on prospective partners. Due diligence can be a lengthy process, however, the startup claims its AI tools can complete comprehensive background checks in ... Read more ›
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CultureAI, a startup that has developed software to detect employees’ risky cyber behaviour, has closed a $10m (£7.7m) Series A funding round. The funding was jointly led by Mercia Ventures and Smedvig Ventures, with participation from existing investors Passion Capital and Senovo. Founded in 2018, the Manchester-based startup is used by IT workers and cybersecurity ... Read more ›
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London-based VC firm 13books Capital has closed £121m for an investment fund targeting European fintech startups. The fintech fund will back rounds from seed to Series A ranging from £1m to £7m. The close comes as VC investment in the UK has started to show signs of recovery from the slowdown over the past two ... Read more ›
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Half of small business founders in the UK are concerned their business won’t survive the next 12 months, according to a new survey. This is a stark difference from the 11% of founders who felt the same way in November 2023, per Virgin StartUp’s second annual ‘Founder Barometer’ report. The past two years have been ... Read more ›
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Civil society groups have called on Keir Starmer to ensure AI remains open and transparent while harnessing it to drive economic growth. In an open letter, coordinated by the UK Open Government Network, the prime minister was called on to include safeguards to public safety in Labour’s Industrial Strategy. The letter said that as AI ... Read more ›
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British retailer Ocado cut losses significantly as its continued investment in its robotic warehouse technology helped drive revenue growth. The company posted a loss of £153.9m in its half-year report, 46.8% less than the same period in 2023. Revenue was up across the majority of its income streams, most notably its technology solutions, which rose ... Read more ›
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Prime Minister Keir Starmer is expected to introduce a new AI bill in the King’s Speech this Wednesday, in what would mark a clear shift from his predecessor Rishi Sunak. The bill is expected to focus on the production of large language models and will aim to improve the legal safeguards surrounding advanced AI technologies, ... Read more ›
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Ahead of the recent general election, politicians, industry groups and the media were sure this would be the ‘AI election’ in which advances in artificial intelligence would threaten the democratic process with disinformation. Among the biggest concerns was the potential for deepfakes – AI-generated images, video or audio designed to look real – to sway ... Read more ›
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This week’s UKTN Podcast guest is Walking on Earth CEO and founder Reeva Misra, who discusses the real science backing up ancient wellbeing practices, how attitudes to mental health benefits at businesses are changing for the better and how AI could improve personal happiness. Misra founded Walking on Earth (WONE), which uses AI to assess ... Read more ›
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AI startups account for nearly a quarter (22%) of UK tech investment as of the first half of the year, up from 12% in 2019. In the first half of 2024, UK AI startups raised $2.1bn (£1.6bn), putting the sector on track for a record-breaking year, according to new data from HSBC Innovation Banking and ... Read more ›
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IPO activity in London has remained stagnant in the first half of the year while proceeds raised from European public launches have surged, new figures reveal. Firms in the UK raised £500m in initial public offering proceeds in the first half of the year, identical to the figure raised over the same period in 2023, ... 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% 9 |
CNET
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7% 4 |
The Verge
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6% 2 |
Gizmodo
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6% 1 |
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28.11.2024 00:31
Last update: 00:15 EDT.
News rating updated: 07:20.
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