I was just as perplexed as others within the wider tech ecosystem by the government’s decision to strip Tech Nation of the £12m Digital Growth Grant and award it to Barclays Eagle Labs. For a government that recently reiterated its desire to become the “next Silicon Valley”, withdrawing funding from Tech Nation shows its approach ... Read more ›
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A UK entrepreneur group has called on the government to make improvements to the Seed Enterprise Investment Scheme (SEIS) and the Enterprise Investment Scheme (EIS) to better support tech startups. A report, released today by the All-Party Parliamentary Group for Entrepreneurship, said that SEIS and EIS – two initiatives that provide tax breaks to encourage ... Read more ›
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The UK Space Agency has unveiled a £51m funding package for space tech companies to create communication and navigation services for Moon missions. The funding package comes from the European Space Agency’s Moonlight programme, which aims to have a constellation of satellites in lunar orbit from 2028. George Freeman, minister of state, Department for Science, ... Read more ›
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London-based generative AI startup Colossyan, which turns text prompts into training videos, has raised $5m (£4.1m) in a Series A funding round. The startup uses generative AI – a subset of artificial intelligence that creates new content based on large amounts of training data – as a way for companies to quickly produce training videos. ... Read more ›
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A new finance and innovation centre is launching in Leeds today to support the UK’s booming fintech industry and identify challenges that might hinder growth. The Centre for Finance, Innovation and Technology (CFIT) has been formed in response to a direct recommendation by the Kalifa Review of UK Fintech, which looked at how the country ... Read more ›
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Scottish asset manager Abrdn has revealed a disappointing 2022 in its most recent financial results for what CEO Stephen Bird described as “one of the toughest investing years in living memory”. The firm posted a pre-tax loss of £615m, far below the £1.1bn profit enjoyed by the asset manager the year prior. The results also ... Read more ›
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The UK tech sector is crying out for talent. The current tech talent shortage has been exacerbated by a wider backdrop of economic inactivity and warnings of some of the lowest rates of overall workforce participation in almost 30 years. To unlock the potential of the country’s digital and tech sector, and support wider economic ... Read more ›
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Telecoms startup Devyce has received backing from Y Combinator in a seed funding round after participating in its accelerator cohort last summer. The London-headquartered company provides virtual phone numbers to individuals and businesses using WiFi or mobile internet. “Businesses are continually up against it to find cost efficiencies, while creating more hybrid working environments for ... Read more ›
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Most CEOs only have to worry about defending their company from competitors. For the past year Volodymyr Levykin, the CEO and founder of British rocket company Skyrora, has carried the weight of some of his staff defending their home country from invasion. One year on from Russia’s invasion of Ukraine, Levykin, a Ukrainian-born tech entrepreneur, ... Read more ›
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Cordless, an AI startup that has built a platform to analyse customer feedback for support teams, has raised $2.3m (£1.9m). Founded by two ex-Monzo employees, Cordless was inspired by their experiences handling customer support at the challenger bank. Working as the head of scaling operations and a technical lead, Luba Chudnovets and Irina Bednova found ... Read more ›
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London-based Flock, a company using real-time data to provide insurance to commercial motor fleets, has raised £31.7m ($38m) in Series B capital despite a challenging funding environment for insurtech startups. Founded by Antton Peña and Ed Leon Klinger in 2015, Flock was born out of academic research into insuring the commercial drone industry before pivoting ... Read more ›
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Drug discovery company Five Alarm Bio has completed a seed investment round of more than £500,000 as it continues to explore anti-ageing treatments. The Cambridge-based firm is looking to boost humanity’s resistance to age-related conditions, including arthritis, sarcopenia, and Alzheimer’s disease, among others. The company will use the new funding to continue developing its cell ... Read more ›
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Robin AI, a startup bringing generative AI to the legal sector, has secured $10.5m (£8.8m) in a Series A funding round. Riding the wave of generative AI investments spurred by the excitement around tools like ChatGPT, Robin has secured backing from lead investor Plural. It also attracted capital from fellow investors Episode 1, and an ... Read more ›
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Fintech startup ZIPZERO has secured over £1m in seed funding for its consumer rewards platform, which gives shoppers cash to use for household bills in exchange for sharing their shopping receipts with retailers. The London-headquartered company raised the capital from a “diverse pool” of angel investors, including Craig Dewar, the founder of payments company Global ... Read more ›
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Australia’s Recharge Industries has bought the collapsed electric vehicle battery firm Britishvolt, which entered administration in January. Recharge Industries, which is also a battery company, had been one of the favourites to acquire the assets of Britishvolt. Other bidders included Orral Nadjari, the original founder of Britishvolt; Tata Motors, the parent company of Jaguar Land ... Read more ›
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Investment firm Spex Capital has launched a fund to invest in health tech companies and is targeting a final close of €100m (£88.3m). The health tech fund will see Spex Capital invest up to €5m (£4.4m) into tech businesses around the world at the seed to Series A stage. “With this fund, our partnership with ... Read more ›
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Messaging app Signal has said it will stop UK operations if the upcoming Online Safety Bill compromises encryption standards. Speaking to the BBC, president Meredith Whittaker said the signal app “would absolutely, 100% walk”. UKTN has reached out to Signal for comment. The Online Safety Bill, which had its second reading on 1 February, would give ... Read more ›
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The rapid adoption and excitement for tools like ChatGPT and DALL-E has firmly put generative AI front and centre for investors. Generative AI is a subset of artificial intelligence where a system creates original content based on large data training sets. While the technology has been gaining momentum for several years, it exploded into the ... Read more ›
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Alex Mifsud is the co-founder and CEO of Weavr, a London-based embedded finance company. Weavr provides plug-and-play embedded finance software, which lets non-financial businesses integrate off-the-shelf financial tools – such as bank transfers and contactless payments – onto their existing applications. Founded in 2018 by Mifsud and Adrian Mizzi, Weavr has raised more than $54m ... Read more ›
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Playdate, a UK-based dating app for single parents, has raised £250,000 in its first external funding round after bootstrapping the business since its launch in 2021. The company claims it has created the country’s first dating app aimed solely at single parents. Its founder, Nevine Coutry, was inspired by her own experience as a single ... Read more ›
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29.06.2026 02:15
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