Binance, one of the largest cryptoasset exchanges in the world, has once again been forced to halt transactions in pound sterling. The China-founded crypto firm has been in and out of regulatory trouble in Britain. It was previously banned from UK activities by the Financial Conduct Authority (FCA) in 2021. Binance resumed its UK business ... Read more ›
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FrontM, a startup developing software services for ships, has secured $1.5m (£1.2m) in a pre-Series A funding round. The company was founded to increase the communication and connectivity capabilities of maritime operations. Ships using the FrontM app can access features including video conferencing, tracking and monitoring, and remote assistance that connect those in offices to ... Read more ›
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London-based nutrition startup ZOE has secured £2m from the Flight Fund, founded by Dragon’s Den star Steven Bartlett. Launched in 2017, ZOE was co-created by a data science expert to create data-driven personalised nutrition programmes that aim to improve the health and well-being of users. ZOE offers in-depth tests that are taken at home and ... Read more ›
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The UK should not be aiming to become the “next Silicon Valley” and should instead “play to our strengths” and give more support to deep tech companies, according to a fund manager at Octopus Ventures, one of the country’s most active tech investors. Chancellor Jeremy Hunt has said on several occasions that he wants to ... Read more ›
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Tech startups around the UK have let out a collective sigh of relief following HSBC’s purchase of Silicon Valley Bank UK and are now resuming business operations in the shadow of a near-missed disaster. The last-ditch deal, confirmed on Monday morning after a whirlwind weekend of government crisis talks, fully protected deposits of startups across ... Read more ›
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Legislate has raised $3.6m (£3m) in seed funding for its software that scans a company’s database of contracts using knowledge graph technology. Knowledge graphs are a way of visually displaying information held within a database. The legal tech startup’s platform also provides tools to automate due diligence checks. Charles Brecque, founder of Legislate, said: “For ... Read more ›
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The government is expected to double down on its support of the quantum computing sector with a £2.5bn investment programme. The quantum plan, which will be over the course of 10 years, is a major boost from the £1bn programme revealed as part of the UK quantum strategy in February 2022 under former Prime Minister ... Read more ›
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Chancellor Jeremy Hunt will look to support the development of English tech hubs clustered around universities with an almost £1bn Investment Zone plan. The funding pledge will form part of a plan to create Investment Zones aimed at boosting money flowing into 12 different regions, with each set to benefit from £80m in support. The ... Read more ›
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Embattled EV startup Arrival has raised $300m (£246.5m) from Westwood Capital but is seeking even more funding as it looks to slow the rate it burns through cash and start production. Arrival said the new cash influx extends its runway to “late 2023”. The company is aiming to start production of its Class 4 XL ... Read more ›
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London-based VC firm Ada Ventures has revealed the second cohort of its angel investing programme with members spanning from across the UK. Each of the 20 members in the Ada Ventures angel programme will invest up to £50,000. Check Warner MBE, founding partner of Ada Ventures, said: “It is 65% female, 20% Black, 20% Asian, ... Read more ›
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Global warming is increasing climate volatility. That means more extreme weather events such as flooding, droughts and fires. How much of a role should the private sector play, through climate tech solutions, in reaching net zero targets compared to the government? This is one of the themes that Iggy Bassi, founder and CEO of Cervest, ... Read more ›
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Chancellor Jeremy Hunt will deliver the Spring Statement on Wednesday and is expected to unveil measures that aim to mitigate recent economic headwinds. The ongoing cost of living crisis and pay demands from public workers will likely be among the top concerns for Hunt in the mini-budget. However, the chancellor, fresh from securing political capital ... Read more ›
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Startups are gradually regaining access to funds held with Silicon Valley Bank UK after HSBC took over the collapsed bank in a last-ditch rescue deal. HSBC’s acquisition of California-based Silicon Valley Bank’s UK division protected thousands of startups from losing their deposits. The deal, announced Monday morning after a frantic weekend of government crisis talks, ... Read more ›
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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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28.06.2026 23:07
Last update: 22:25 EDT.
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