Banking giant Barclays has led a £5m investment round into electric cargo bike delivery company Zedify through its Sustainable Impact Capital fund. Zedify will use the capital influx to expand its eco-delivery bikes in additional locations, including Manchester and Birmingham. Zedify said this will generate 120 jobs. The Cambridge-founded company has created a last-mile delivery ... Read more ›
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The UK government has been vocal about its ambition to make the country a “science and tech superpower”. In that spirit, it has unveiled a 10-year strategy, backed by £2.5bn of public funding, to support Britain’s quantum computing industry. Announced by the chancellor in his recent Spring Statement speech, the new National Quantum Strategy offers ... Read more ›
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The University of Cambridge and its spinouts contribute almost £30bn to the economy annually, according to new research. The figures, calculated by the consultancy group London Economics, show that every £1 spent by the University of Cambridge returns £11.70 to the economy. The analysis found that more than £23bn of the university’s economic output was ... Read more ›
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Shared workspace company Patch will open two more locations in Twickenham and High Wycombe following a £3m raise. The hybrid working company says it is aiming to bring life back to the high street with “neighbourhood workspaces” that encourage people to work “near home”. The company, which launched in 2020, started with a site in ... Read more ›
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The UK subsidiary of Silicon Valley Bank (SVB) paid out £15m in bonuses for executives and other staff just days after it was acquired in a £1 rescue deal by HSBC. First reported by Sky News, HSBC signed off on the staff payout last week. The report stated that bonuses would not have been paid ... Read more ›
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Last week, the tech startup ecosystem narrowly missed disaster after HSBC acquired Silicon Valley Bank’s UK division in an eleventh-hour deal. For startup founders who held most or all of their capital with the specialist lender, it was a nerve-wracking 48 hours. One of those startup founders is Toby Mather, the CEO of edtech company ... Read more ›
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Recent headlines haven’t painted blockchain in the best light. It is often bundled in with cryptocurrency, as evidenced by last year’s crypto failures including Terra Luna’s collapse, followed by Three Arrows Capital and Celsius, plus FTX’s implosion amid allegations of large-scale fraud involving client funds. This caused net trust in the cryptocurrency space across 17 ... Read more ›
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London-based Fundpath, which has developed software to connect fund buyers with asset management firms, has secured a £4m investment from Fuel Ventures. Fundpath’s platform acts as a database containing the preferences of fund buyers and filters out asset management firms that do not meet their criteria. “Our mission is to bridge the information disconnect between ... Read more ›
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Aerospace company Rolls-Royce has received a further £2.9m in funding from the UK Space Agency to develop its micro space reactor that could be used by astronauts to power communications and life support on the Moon. The funding for Rolls-Royce’s space reactor follows on from the £249,000 it received from the UK Space Agency last ... Read more ›
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The UK’s competition regulator has raised concerns that a £1.2bn merger of two data firms based in the US and UK could result in higher costs for the NHS. UnitedHealth, a US-based firm that provides data services to healthcare providers, announced plans to take over the competing Leeds-based firm EMIS back in June 2022. However, ... Read more ›
0
Generative AI tools developed by London-based startup Synthesia have been used to create realistic but false news reports in Venezuela, reminding the world of the complex ethical concerns surrounding the much-hyped technology. Several online videos showed realistic-looking TV reporters supporting Venezuelan President Nicolás Maduro. The AI-generated propaganda videos, which were uploaded to a YouTube channel ... Read more ›
3
Volodymyr Levykin is the CEO and founder of Skyrora, a British rocket company building launch services for small satellites. Edinburgh-headquartered Skyrora became the first company to complete a successful integrated rocket stage test in the UK since the 1970s, and has completed four suborbital rocket launches. While a test flight crashed in the Norwegian Sea ... Read more ›
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New York transport software company Via has acquired the navigation app Citymapper for an undisclosed sum. Via’s acquisition of Citymapper is funded by a $110m (£90.5m) round at a $3.5bn valuation last month. Via said at the time it would use this to grow its portfolio. Whilst Citymapper’s total funding remains unknown, it has previously ... Read more ›
0
What a crazy weekend. The global tech ecosystem spent 48 hours in a spiral of panic because of Silicon Valley Bank’s downfall. Founders, already fatigued by the many macroeconomic headwinds hitting them in 2023, were told that their cash reserves could disappear in front of their eyes over a rainy March weekend. A series of ... Read more ›
5
British Patient Capital will continue backing later-stage UK companies up until 2033 after the government extended its mandate in the Spring Statement. It extends British Patient Capital’s runway five years past the originally planned 2028 end date. Louis Taylor, CEO of British Business Bank, said: “This extension, and the agreement in principle to recycle our ... Read more ›
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Social media app TikTok has been banned from UK government devices as a data security measure due to concerns over the app’s connections to the Chinese state. The popular short-form video-sharing app, which has more than 3.5 billion downloads globally, is owned by Beijing-based tech giant ByteDance. While the company has denied allegations that the ... Read more ›
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Virgin Orbit has suspended all of its operations and furloughed employees as it scrambles to find further funding in the wake of its unsuccessful launch from Spaceport Cornwall last month. A small percentage of its employees will remain at work while it seeks further investment. According to reports, Virgin Orbit CEO Dan Hart told staff ... Read more ›
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The London Stock Exchange has held an event to “celebrate” the impact of entrepreneur network Tech Nation ahead of its wind-down later this month after more than a decade supporting startups across the UK. The British public market yesterday welcomed the Tech Nation team to highlight the companies that have passed through its Future Fifty ... Read more ›
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Seldon has raised $20m (£16.6m) in Series B funding led by Bright Pixel for its machine learning operations platform. Founded in 2014, Seldon’s Series B investment has further come from AlbionVC, Cambridge Innovation Capital, and Amadeus Capital. “Seldon has differentiated itself by presenting a unique solution that is able to reduce the friction for users ... Read more ›
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The UK’s tech ecosystem has welcomed a raft of measures announced by Jeremy Hunt in the 2023 Spring Budget, but the chancellor is facing criticism from some quarters over “notable omissions” and policies they say do not go far enough. On Wednesday Hunt outlined measures including a business expensing programme, confirmation of 12 regional investment ... Read more ›
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14.06.2026 23:23
Last update: 23:15 EDT.
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