Phare Labs, a London startup looking to reinvent the fire alarm, has secured a £300,000 investment from the British Design Fund along with angel investors. Co-founded by engineers Daniel McBride and Arnau Donate, Phare Labs’ creation was inspired by “a spate of false alarms” experienced by the founders. Looking to reinvent the traditional fire alarm ... Read more ›
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University College London spinout Intrinsic Semiconductor Technologies has secured £7m in an Octopus Ventures-led round create faster computer memory technology. Intrinsic is based on over 10 years of research carried out by Professor Tony Kenyon, Dr Adnan Mehonic and Dr Wing Ng at University College London on non-volatile memory, which uses resistive random-access memory, or ... Read more ›
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High street lender HSBC has acquired Silicon Valley Bank UK for £1 in an eleventh-hour deal that will protect deposits for thousands of startups across the UK. The government said the deal was facilitated by the Bank of England in consultation with the Treasury. No taxpayer money is involved, the Treasury said. HSBC’s takeover of ... Read more ›
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Connectd, a platform to manage the relationships between startups and investors, has raised $2.6m (£2.2m) in a funding round shared exclusively with UKTN. Connectd supplies startup founders with data reporting tools to present their business metrics to potential investors. Founders can also get a better understanding of investors to determine what option suits them best. ... Read more ›
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APEXX Global, a startup that provides merchants with alternative payment options, has raised $25m (£20.8m) in a Series B funding round. APEXX pitches itself as a one-stop shop for merchants looking to incorporate alternative payment options in their services. The company connects sellers with various payment options, including buy now pay later (BNPL) products, allowing ... Read more ›
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The Bank of London, a clearing bank launched in 2020, has submitted a bid to buy the UK subsidiary of Silicon Valley Bank after it collapsed on Friday. The Bank of London said on Sunday evening it is leading a “consortium of private equity firms” to take over SVB UK, which has more than 3,300 ... Read more ›
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When Cardiff-based car rental platform Finalrentals raised £375,000 in its first external funding, it had big plans to grow its headcount and expand the business. A cloud of uncertainty now hangs over its future following the collapse of Silicon Valley Bank, where Finalrentals held all of its currently inaccessible funds. On Friday, as the shockwaves ... Read more ›
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The UK government is holding crisis talks to explore a rescue package for tech startups facing a cashflow crunch following the collapse of Silicon Valley Bank. The Treasury said it is looking at ways to “minimise the damage” to the UK’s startup ecosystem after the Bank of England moved to put the UK arm of ... Read more ›
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Venture capitalists are telling UK startups in their portfolios to be cautious but “maintain a level head” following the collapse of Silicon Valley Bank (SVB). British startups on Friday were weighing up how much of their funds to withdraw from SVB’s UK subsidiary after a liquidity crisis prompted regulators in California to take control of ... Read more ›
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Regulators in California have closed Silicon Valley Bank (SVB) after a liquidity crisis at the startup lender prompted panic withdrawals. The collapse, viewed as the biggest bank failure since the 2008 crisis, has sent shockwaves among UK startups that have accounts with SVB’s UK subsidiary. Silicon Valley Bank UK has said it is still processing ... Read more ›
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Barclays Eagle Labs will not be taking on any of Tech Nation’s staff when the entrepreneur network ceases operations at the end of this month, UKTN has learnt. Tech Nation staff were informed this afternoon that the startup growth network could not reach an agreement with Barclays Eagle Labs under so-called TUPE regulations, designed to ... Read more ›
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Struggling EV vehicle startup Arrival is predicting losses as high as $1.01bn (£840.7m) in its 2022 full-year results. The unaudited accounts showed losses for the final quarter of 2022 are expected to fall between $588m and $597m. Arrival, which was founded in Britain but listed on the US Nadaq exchange in 2021 through a merger ... Read more ›
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The head of WhatsApp has said the messaging app will not change its encryption standards if required by the upcoming Online Safety Bill. WhatsApp’s chief is visiting the UK to meet with government legislators to debate the Online Safety Bill, a controversial piece of legislation that could require platforms like WhatsApp to remove end-to-end encryption ... Read more ›
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Chintan Soni is the co-founder and CEO of Ecolibrium, a decarbonisation platform for commercial and industrial real estate that uses machine learning and internet-connected sensors to provide insights on infrastructure energy use. London-based Ecolibrium’s core product, called SmartSense, collects data from thousands of internet-of-things (IoT) sensors placed on a building’s energy infrastructure. These sensors feed ... Read more ›
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Data company WANdisco has suspended its shares on the AIM London market after finding “potentially fraudulent irregularities” in its accounts. The Sheffield and California-based company, which this week said it had entered the early stages of listing in New York, released a statement suggesting its reported revenue for last year may have been overstated. “Following ... Read more ›
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Embattled embedded banking company Railsr has staved off collapse after its assets were acquired by an investor consortium for an unknown sum. The Financial Conduct Authority has permitted the sale of Railsr to an entity called Embedded Finance LTD, which is backed by D Squared Capital, along with Moneta VC and Ventura Capital. It comes ... Read more ›
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Technology has transformed the financial services sector over the past two decades. Now common parlance, fintech is a core component of the UK’s digital economy; there are an estimated 1,600 fintech firms nationwide – a number that is projected to double by 2030 – while the sector contributes an estimated £11bn and over 76,000 jobs ... Read more ›
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Nottingham-based health tech company NuVision has scooped £1.1m in funding for its wound dressing and contact lenses that use the inner layer of the placenta to heal eye injuries. Healthcare providers including the NHS use NuVision’s wound dressing to support the recovery of ophthalmic conditions and soft tissue damage in the eye. Patients can also ... Read more ›
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The government has launched a review to explore how the UK can better utilise the work of university spinouts to boost economic growth. University spinouts are companies that are formed initially within a university facility, often drawing upon academic research and resources available at higher education institutions. The spinout process has led to the foundation ... Read more ›
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Biotech startup CanSense, which has developed a blood test to detect bowel cancer that uses laser light and artificial intelligence (AI), has raised £1.5m in funding. The Swansea-based company secured funding from investment firm Mercia, the Development Bank of Wales and liquid biopsy company Nonacus. CanSense, a Swansea University spinout, has created a test that ... Read more ›
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15.06.2026 00:57
Last update: 00:50 EDT.
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