The UK needs to support its semiconductor industry without entering into a “subsidy arms race”, according to a new report from the Centre for Policy Studies (CPS). The ‘Cashing in our Chips’ report, which looks at how the UK can protect the domestic supply of semiconductors ahead of the government strategy, advised a series of ... Read more ›
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The freshly formed Department for Science, Innovation and Technology (DSIT) has awarded its first funding to the Rosalind Franklin Institute, a medical research centre in Oxfordshire. DSIT was created in a government restructuring earlier this week by Prime Minister Rishi Sunak, breaking up the Department for Digital, Culture, Media and Sport (DCMS). Former DCMS head Michelle ... Read more ›
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Crypto firm Coincover, self-styled as the “safety standard for cryptocurrency”, has secured $30m (£24.8m) in funding. The Cardiff-based company offers cryptocurrency-related software that provides an automated backup of your crypto’s private keys and flags potential breaches of users’ crypto wallets. “At Coincover, we’re proud to prevent users from losing access to their cryptocurrency, whether that ... Read more ›
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Deliveroo is cutting 350 jobs as the tech downturn continues to force the food delivery company to scale back its operations. The cuts were announced today by Deliveroo chief Will Shu, who cited over-hiring and the cost of living crisis as the reasons for making the layoffs. The cuts amount to almost one in ten ... Read more ›
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Kennek, a London-based fintech that develops “operating systems” for credit providers, has raised $4.5m (£3.7m) in a pre-seed funding round. Kennek was founded in 2021 with the goal of solving the problems of operational scalability for lenders and investors and a lack of efficiency in the funding of credits. Co-founders Thibault Lancksweert, Edmund Parsons, and ... Read more ›
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The Bank of London has scooped $40m (£32.9m) in a Series C extension round, at a valuation of $1.1bn (£905.7m) which means it maintains its unicorn status. The Bank of London is a clearing bank, which means it clears transactions between other banks. Its new funding follows its $90m Series C round that took place ... Read more ›
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London-listed crypto mining company Argo Blockchain has announced its founder and CEO, Peter Wall, will step down from his position. Wall served as both the CEO and interim chairman of Argo Blockchain but is leaving the company to “pursue other opportunities”. Chief operating officer Seif El-Bakly will assume the role of interim CEO. Matthew Shaw, ... Read more ›
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Sheffield-based encryption startup Sitehop has secured £1m from the NPIF – Mercia Equity Finance, a fund operated by Mercia that focuses on Yorkshire and the Humber and Tees Valley. The startup was co-founded in 2021 by Melissa Chambers and Ben Harper. Its encryption hardware manages that companies can plug into their networks to manage encryption. ... Read more ›
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Scottish digital ticketing startup Fanbase has completed a £1m funding round from London-based investor SaltPay. The Edinburgh startup is developing mobile software that aims to improve the experience of fans buying tickets for sporting events. Fanbase said its goal is to create new revenue for sports organisations by easing the process of buying tickets and ... Read more ›
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New York-headquartered Alloy has launched in the UK, establishing the fintech company’s first physical location outside of its home market. Last September, Alloy raised $52m (£43.1m) in Series C capital at a $1.55bn (£1.3bn) valuation. The company has created a single API that conducts know your customer and business, anti-money laundering and compliance checking for ... Read more ›
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The Bank of England and the Treasury have released a consultation paper on the potential for a UK ‘digital pound’ or central bank digital currency. Research into the digital pound is now underway by the Bank of England and is asking for public opinions on the subject. Andrew Bailey, governor, Bank of England, said: “However, ... Read more ›
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Revolut has added a crypto staking feature to its services in an expansion of the fintech’s move into the digital currency industry. The new Revolut crypto feature will allow customers who invest in cryptoassets to stake their assets for rewards. Crypto staking involves lending out assets to support the security of a blockchain network. The ... Read more ›
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Online car marketplace Cazoo has confirmed it will be conducting a reverse stock split and expansion of its authorised share capital. Its board of directors have signed off for Cazoo to carry out a 1-for-20 reverse stock split at a value of $0.0001 per share. The decision for a reverse stock split was first announced ... Read more ›
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Semiconductor firm Arm posted a 28% revenue surge in the last quarter, reaching £620m as it prepares for its public listing this year. Licensing revenue saw a major surge over the period, with a 65% increase. The update also noted a record number of microchips designed by Arm being shipped by clients over the quarter, ... Read more ›
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The North East region has received the least support from the government’s Levelling Up Fund, according to a new report. Newcastle-based property developer Stripe has analysed the 216 bids that were successfully awarded funding through the £4.8bn Levelling Up Fund announced by the government in November 2020. The fund was created with the purpose of ... Read more ›
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Over half of tech and science firms (53%) think the government should offer more motivation for them to keep manufacturing operations and headquarters in the country, according to new research. A survey commissioned by Pragmatic Semiconductor found that the majority (67%) of firms think that the government needs to set aside more than the currently ... Read more ›
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Rishi Sunak is to create a new government department focused on science, innovation, and technology as part of his government reshuffle. The role of secretary of state for the new tech department will be taken by the head of the department for Digital, Culture, Media and Sport (DCMS), Michelle Donelan. DCMS has been up until ... Read more ›
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London-based engineering startup Recycleye has secured a Series A funding round worth £14m as it develops its AI waste sorting robots. Founded in 2019, Recycleye deploys its automated tech to sort through waste to transform it into usable resources. The company claims its computer vision-powered robots can pick with more accuracy and consistency than humans. ... Read more ›
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Deeptech startup Evonetix has landed $24m (£20m) in an extension investment round led by Foresite Capital, which brings its Series B total to $54m (£45m). Cambridge-based Evonetix conducts DNA synthesising by using a computer chip that manages thermal reactions on “thousands of independent thermally controlled reaction sites” and the construction of DNA in “days” as ... Read more ›
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A new report has found that 75% of LGBTQ+ founders in the UK tech industry and 80% of investors don’t feel safe sharing their gender and sexual identity with their peers. The Proud Ventures founder identity report found that nearly half (45%) of LGBTQ+ founders thought their identity was unrelated, gave them a disadvantage (27%) ... Read more ›
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15.06.2026 07:15
Last update: 07:10 EDT.
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