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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Wrexham-based medtech business Aparito has been acquired by global pharmaceutical company Eli Lilly and Company, generating a return on investment for previous backer the Development Bank of Wales. Founded in 2014 by Dr Elin Haf Davies, the company digitises clinical trials and captures real-world data through mobile apps, video assessments and wearable devices. One of ... Read more ›
0
Digital asset management platform Haruko has raised $6m (£4.6m) in a Series A round to fund its expansion into Asia. Founded in 2021, Haruko provides asset managers, hedge funds and family offices with a platform to manage both centralised and decentralised digital asset investments. As well as blockchain portfolio management, the platform has risk control ... Read more ›
2
Investment reporting and communications platform Instinct Digital has raised £5m in an AlbionVC-led Series A round. Instinct Digital’s cloud-based software as a service platform acquires and aggregates investment reporting assets from a variety of sources. This information is combined into its centralised platform, which has tools for analytics and digitised communications. The company’s client list ... Read more ›
0
After 14 years, the UK has a Labour government. During that time, the UK’s tech sector has flourished. But how much of that was because of the Conservative government, and how much of it was in spite of it? In an interview with UKTN, Improbable Worlds founder Herman Narula discusses how the Conservatives’ support of ... Read more ›
0
Sir Patrick Vallance, the new science minister, has said visa costs are “very high” and should be looked at to ensure the UK can continue attracting global science and technology talent. Vallance’s comments follow his speech at the G7 Science and Technology Ministerial in Italy in which he called for greater international science collaboration and ... Read more ›
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This week’s UK tech funding deals include Welsh cybersecurity startup PureCyber, flight-free travel planner ByWay, fitness app GoJoe and more. UKTN tracked £26.6m worth of UK tech investment this week (8 July to 12 July), a 90% week-on-week decrease across nine funding rounds. Here’s your weekly roundup of UK tech startup funding deals. PureCyber – ... Read more ›
1
Iconic AI, a London-based games startup specialising in AI-driven video game development, has closed a $4m (£3m) pre-seed round. Founded in 2023, Iconic AI aims to change how high-budget games are developed, produced, and distributed. CEO and founder John Lusty, a former Snapchat employee, said that he wants his startup to use AI to expedite ... Read more ›
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Bristol-based chip firm Graphcore has been acquired by Japanese conglomerate SoftBank for an undisclosed fee. Graphcore, which specialises in intelligent processing units for AI applications, will become a wholly owned subsidiary of SoftBank and will continue to operate under its original branding. “This is a tremendous endorsement of our team and their ability to build ... Read more ›
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Andrei Dragomir is the co-founder and CEO of Aquark Technologies, a Southampton-based quantum startup developing a high-performance cold atom clock. Founded in 2020 by Dragomir and Alexander Jantzen as a spinout from the University of Southampton, Aquark is working towards what it says will be the UK’s first commercially available cold atom clock. Cold atom ... Read more ›
2
OSY Group, a startup that produces an antimicrobial coating for packaging to extend the shelf life of fruits and vegetables, has secured a five-figure grant from Innovate UK. The funding from Innovate UK’s Global Explorers Programme will go towards finding new markets for the startup’s antimicrobial packaging coating, Xtend. Xtend is designed to allow food ... Read more ›
2
VC investment in the UK is showing signs of recovery, boosted by large late-stage rounds to rise 16% in 2024 and maintain its leading position in Europe. Data from startup funding tracker Dealroom has shown solid growth in VC investments in the UK, with startups and scaleups raising £7.4bn in the first half of the ... Read more ›
0
London-listed review service Trustpilot expects an annual recurring revenue bump of 17% in the first half of 2024. The Copenhagen-founded firm reported expected revenue of $100m (£78m) for the first half of the year, off the back of a 20% increase in the value of bookings contracts. “We are pleased to report strong growth across ... Read more ›
1
The UK’s financial watchdog is set to enforce new rules overhauling the public markets in what it claims is the “biggest change to the listing regime in over three decades”. The Financial Conduct Authority (FCA) said it was setting out a “simplified listings regime” with a single category and “streamlined eligibility” for firms seeking to ... Read more ›
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Cardiff-based cybersecurity firm PureCyber is looking to grow its customer base following a £5m equity investment boost from BGF. Founded in 2016 by CEO Damon Rands, the company provides a range of cybersecurity solutions, acting as an outsourced provider for businesses looking to bolster their defences against cyberattacks. Subscription services include brand protection, incident response, ... Read more ›
0
The former CTO of London-based AI unicorn Stability has joined Unlikely AI, a startup launched by Amazon Alexa developer William Tunstall-Pedoe. Unlikely AI, which secured £17.4m in seed funding in 2022, is developing a generative AI platform to compete with the likes of ChatGPT and Gemini. Looking to scale its development, Unlikely has appointed Tom ... Read more ›
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BetaDen, a business accelerator for tech startups, has welcomed the first intake for its new incubator programme delivered in partnership with Barclays Eagle Labs and Worcestershire Local Enterprise Partnership. The eight-week programme will deliver support for up to 60 startup businesses over four intakes from its dedicated co-working space at The Kiln in Worcester. Founders ... Read more ›
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Tulip Siddiq has been confirmed as the new economic secretary to the Treasury, signalling that the Labour government may be moving towards stricter fintech regulation. In her role as shadow City minister, Siddiq repeatedly called for tighter regulation on financial services, most notably buy now pay later (BNPL). BNPL is an app-based loan product with ... Read more ›
0
Switchee, a housing technology provider aiming to prevent mould and lower heating bills in British homes, has raised an additional £5m. The company’s internet-connected thermostat measures humidity, temperature, and pressure. It analyses this data with the aim of preventing mould, lowering heating bills, and improving communications between tenants and landlords. Social housing has been in ... Read more ›
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US immersive technology company Infinite Reality has acquired British metaverse startup Landvault for $450m (£352m). The all-stock deal will see London-headquartered Landvault’s employees join Infinite Reality. The deal will give Infinite Reality a foothold in the Middle East, with Landvault’s founder and CEO, Sam Huber, becoming global president of enterprise and CEO of MENA region ... Read more ›
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Revolut and Multiverse investor Index Ventures has raised $2.3bn (£1.8bn) in new funds targeting early and growth-stage startups. The firm plans to invest a “significant proportion” of the new funds into UK startups. Headquartered in London and San Francisco, Index Ventures is one of the most prominent investors in the UK, having backed the largest ... Read more ›
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Most popular sources
Business Insider
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27% 2 |
Tech Wire Asia
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15% 10 |
CNET
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7% 4 |
Eurogamer.net
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7% 2 |
The Verge
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6% 2 |
| View sources » | |
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28.11.2024 02:58
Last update: 02:51 EDT.
News rating updated: 09:51.
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