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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The Financial Conduct Authority (FCA) has defended its role in the failed attempt to convince the Cambridge-based semiconductor designer Arm to IPO in London. The destination of the IPO for Arm, which is owned by the Japanese conglomerate SoftBank, has been the subject of considerable attention from UK politicians including Prime Minister Rishi Sunak, who ... Read more ›
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A startup making heads-up displays to project holograms in vehicles has attracted investment from Jaguar Land Rover and Hyundai Mobis in a $50m (£42.2m) funding round. Envisics has developed display digital graphics to layer on top of the real world to provide information such as vehicle information and navigation assistance. The Milton Keynes-based company is ... Read more ›
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Lloyds Banking Group has invested £10m into digital ID company Yoti to develop its app-based identity verification software, which is launching later this year. Yoti develops digital-based checks for age, identity, signatures, multi-factor authentication and its own digital ID service. Its digital verification technology is used by Instagram for age verification, the Post Office for ... Read more ›
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The UK tech industry has made great strides in improving female representation in the workforce, providing better funding opportunities for women, and reducing the gender pay gap. But for all the progress in recent years, the data doesn’t lie – and it shows there is still a long way to go. Achieving gender parity in ... Read more ›
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The government is attempting to push through reforms of the UK’s data laws in parliament today to provide an alternative to EU data protection rules. Technology Secretary Michelle Donelan said the reformed Data Protection and Digital Information Bill will be “tailored to the UK’s own needs” and cut “red tape” for businesses. The proposed legislation ... Read more ›
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Tech startups in the UK are paying women 26% less than their male counterparts, the highest unadjusted gender pay gap in Europe. The figures, published on International Women’s Day, show that women working in the UK tech industry are on average paid 74p for every £1 earned by men. The tech gender pay gap is ... Read more ›
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British Business Bank has unveiled a £70m Northern Ireland fund to invest in small business growth as part of its regional investment strategy. The Northern Ireland fund will launch in the autumn and supply equity investments up to £5m and loans ranging from £25,000 to £2m. Ken Cooper, MD of venture solutions at the British ... Read more ›
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28.06.2026 23:07
Last update: 22:25 EDT.
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