Data startup Instill AI has scooped $3.6m (£2.9m) in seed funding, counting a Google DeepMind director and ex-Microsoft M&A advisor among its angel investors. London-based Instill AI has created tools to analyse images, videos, audio or text – unstructured data – and convert it into a uniform format to feed into AI applications. Instill AI ... Read more ›
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Tribepad, a Sheffield-based talent acquisition platform used by the likes of Tesco and the BBC, has received a £12m investment from UK and Ireland investor BGF. Founded in 2008, Tribepad’s software provides recruiters with tools for advertising, video interviewing, employee onboarding, data analysis, equality, diversity and inclusion features. Subway and NHS Professionals are among the ... Read more ›
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Despite the thousands of tech layoffs that have cast a dour outlook on recruitment in the industry, UK fintech company Revolut is looking to boost its team by almost 1,700 staff. January 2023 has seen tech firms in the UK and beyond announce severe cuts to staff, with international giants like Meta, Amazon, and Google ... Read more ›
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The government will today set out plans for “robust” regulation of the cryptoasset industry, which has been the subject of repeated scandals, crashes, and uncertainty over the last year. The Treasury said the proposal will ensure customers have their assets returned in the event of a crypto business collapsing. It comes in the wake of ... Read more ›
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Shares in the London-listed cybersecurity firm Darktrace have crashed to a record low after accusations of major errors in the company accounts. In a report from US asset manager Quintessential Capital Management (QCM), published yesterday, Darktrace was said to have inflated its value through questionable accounting prior to its IPO in April 2021. Yesterday, Darktrace ... Read more ›
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An automated shuttle service is coming to Northern Ireland after the Belfast Harbour-led project received £11m in funding. The Harlander project will see a fully driverless transport system from the Titanic Quarter railway station to the Catalyst Science Park on Queen’s Island. The service will be accessible to residents, visitors, and employees of the various ... Read more ›
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Greenspark has received £1m in seed funding for its platform that encourages businesses to take climate-friendly actions, such as planting trees or offsetting carbon emissions when a customer makes a purchase. The company will use the funding boost to launch its Climate API, which it says can “integrate impact into any business use case”. Its ... Read more ›
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Frasers Group is preparing to launch its own buy now pay later (BNPL) service for customers of the various retail brands owned by the company. BNPL is a form of payment that allows customers to split the cost of purchases into smaller chunks paid over several months. While the market has been dominated by BNPL-focused ... Read more ›
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Tech Nation will “cease operations” from 31 March after losing out on £12m in government funding to Barclays, bringing an end to a decade of support for the UK’s technology startups. Tech Nation, which was first launched in 2011 and created in its current form in 2018 by the merger of Tech City UK and ... Read more ›
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Embedded finance startup Liberis has received €30m (£26.3m) in debt financing from the UK wing of Silicon Valley Bank. Founded in 2007, the startup builds embedded finance platforms for SMEs to incorporate financial services into their customers’ products. The company’s tech has been used by fintechs such as Klarna, Tide, and Worldpay. The fintech has ... Read more ›
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A group of 120 venture capital firms from across Europe have formed a new initiative, called ImpactVC, to champion environmental and social impact. The UK-based VCs that signed up to the group are Balderton, Northzone, ADA Ventures, BGF, Atomico, Ascension, Hambro Perks, Zinc, Octopus Ventures, Eka Ventures and Backed. The combined ImpactVC cohort has £12bn ... Read more ›
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Challenger bank Monzo has reported annualised revenue of £440m up to December 2022, up from the £154.2m in its previous financial statement published in February last year. The 185% revenue increase was shared in an update with investors, which stated the London-based fintech has been “cash flow positive” since October 2022. The figures were first ... Read more ›
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Entocycle, a company using data and tracking hardware to support the insect farming industry, has closed a $5m (£4m) Series A funding round. Rearing insects for protein is less harmful to the environment than other forms of protein, such as livestock cattle. Entocycle is a self-described “insect tech” startup that has developed a product to ... Read more ›
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London-based PHINXT Robotics has raised £608,000 in an oversubscribed pre-seed round for its warehouse robot management software targeting SME businesses. According to PHINXT Robotics, less than 10% of warehouses cannot implement robot automation because of costs, complexity and lead times. The company has developed a cloud-operated system that can be used by small or medium-sized ... Read more ›
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The UKTN Podcast is back for season two, featuring more conversations with founders of some of the UK’s high-growth tech companies. Each episode will talk through the founder’s personal journey, their vision for their business, and their views of the wider tech industry. In the first episode, UKTN Podcast host Jane Wakefield – a technology ... Read more ›
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There’s little doubt that Big Tech companies can and should do more to protect their users from harmful content online. With rapid membership growth in the pandemic, the tech industry is broadly in agreement that regulation now needs to catch up and ensure that social media platforms bear greater responsibility for ensuring a safer online ... Read more ›
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Belfast-based startup Sensoteq, which develops wireless machine health monitoring technology, has secured a £500,000 loan as it looks to expand its workforce. Founded in 2016, Sensoteq designs sensor technology to monitor heavy-duty industrial machinery. The company’s product tracks the performance and efficiency of the equipment to provide insight into whether gear needs maintenance or replacement. ... Read more ›
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Raylo, a consumer electronics subscription service, has received a £110m debt financing facility from retail bank NatWest and growth investor Quilam Capital, along with unnamed previous backers provided equity funding. London-headquartered Raylo has created a platform for consumers to lease new gadgets such as phones, tablets and laptops. Raylo aims to get more use out ... Read more ›
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Electric van startup Arrival said it will cut half of all jobs globally and has appointed company insider Igor Torgov as the British company’s new CEO. Arrival will undergo a “restructuring” to “refocus its resources” on the production of its electric van in 2024 from its facility in Charlotte, US. This plan, which comes amid ... Read more ›
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The UK fintech space has not been immune to the wider tech downturn. New data shows that funding for British fintech startups dropped by around 13% last year, with late-stage funding seeing the largest decline. According to market insight platform Tracxn, tech startups operating in the financial sector raised a total of $11.2bn (£9bn) in ... Read more ›
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29.06.2026 07:05
Last update: 07:00 EDT.
News rating updated: 14:00.
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