Cheshire-based medtech company QV Bioelectronics has secured a £2m funding boost for its “first-of-its-kind” brain tumour treatment. QV Bioelectronics has been developing technology called GRACE, an implanted medical device that uses electric field therapy (EFT). The technology works by exclusively targeting dividing cancer cells within the brain, avoiding healthy cells. The GRACE implant is currently ... Read more ›
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AutomatePro has raised £5m in Series A funding from investor YFM Equity Partners, through its British Smaller Companies VCTs, to expand its cloud software to the US market. London-based AutomatePro’s software provides automated testing and reporting for the cloud platform ServiceNow. Roshan Puri, investment director, YFM Equity Partners, said: “Intelligent automated testing is a key ... Read more ›
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Amazon has announced it will close three of its UK-based warehouses that collectively employ around 1,200 workers, though the US tech giant has also announced it will open two new fulfilment centres elsewhere. Warehouses in the Hertfordshire town Hemel Hempstead, the Yorkshire town of Doncaster, and Scotland’s Gourock have all been proposed for closure. A ... Read more ›
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Battery company Britishvolt is reportedly in talks to sell a majority stake as it continues to fight to stay in business, with company filings showing that it recently issued new shares to raise £67,143. On Monday, reports emerged that Northumberland-based Britishvolt asked for permission from investors to be replaced by a new investor in a ... Read more ›
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The UK retained its European dominance in fintech last year despite global investment in the industry decreasing in 2022 amid the economic slowdown, new data has found. The UK’s fintech industry body, Innovate Finance, found in its annual report that despite a slowdown in investment, Britain retained its position as the leading nation for fintech ... Read more ›
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The first satellite launch from British soil ended in failure after a technical fault in Virgin Orbit’s rocket meant it “fell short of reaching its target orbit”. Virgin Orbit said an “anomaly” that occurred in the second stage engine firing phase was the reason for LauncherOne failing to reach its intended orbit. Shortly after Virgin ... Read more ›
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The majority of angel investors in the UK have become more cautious and selective in their investments as macroeconomic worries slow UK funding, new data has shown. An annual survey of 246 UK-based angel investors, conducted by Portfolio Ventures, shows that the community of individual financiers has become more judicious with their cash. Some 53% ... Read more ›
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Co-Fund NI has invested £300,000 in Belfast-based IT company Kinsetsu, marking the Northern Ireland equity fund’s 100th investment. Overseen by Clarendon Fund Managers, the fund was established to support startups based in Northern Ireland as part of the Regional Angels programme. It invests with angels and private backers in investments ranging from £150,000 to £2m. ... Read more ›
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The government has made £7m in funding available to businesses developing technologies that decarbonise the freight sector by incorporating technology such as artificial intelligence (AI). Up to 36 small and medium-sized businesses will receive a share of the funding from the freight innovation fund in the next three years. “This fund will accelerate new ideas ... Read more ›
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Virgin Orbit has been given the go-ahead for the first orbital satellite launch from the UK, with the initial launch window starting on Monday at 22:16. Taking off from Spaceport Cornwall, Virgin Orbit’s Boeing 747 “Cosmic Girl” will climb to an altitude of 35,000 feet where it will drop its LauncherOne satellite payload. “We are ... Read more ›
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Insurtech scaleup Superscript has completed a £45m Series B funding round, in one of the first major UK tech investments of 2023. The London-based firm was founded in 2015 under the name Digital Risks. The company provides business insurance to companies through a flexible subscription service. Superscript has risen to relative prominence within the insurtech ... Read more ›
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Rishi Sunak, in what appears to have become a right of passage for a Conservative prime minister, has revived talks with semiconductor company Arm in the hopes of securing a London initial public offering (IPO). Sunak met with both Rene Haas, chief executive of Arm, and Masayoshi Son, CEO of Arm’s parent company SoftBank, according ... Read more ›
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The viral popularity of ChatGPT, a language model chatbot, has thrown generative AI into the mainstream. The technology, developed by OpenAI, has captured the imagination of more than a million users. From asking for cocktail recipes to penning a love song, users have been experimenting with ChatGPT’s instant conversational responses. However, it is the potential ... Read more ›
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Congratulations are of course in order on your successful startup funding round – it’s taken skill, luck and a massive amount of determination to have finally banked that cheque. As a former CEO of two software startups and an investor myself, I have some appreciation for the journey you’ve just been on and from both ... Read more ›
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Starling Bank is expecting to increase its pre-tax profits by more than four times in its upcoming annual financial results. The digital bank said it “generated annualised pre-tax profits of more than £250m on the back of almost £600m of annualised revenue for the month of December 2022”. In July last year, Starling announced its ... Read more ›
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Oxford Ionics has raised £30m in a Series A funding round to continue scaling its “trapped-ion” approach to quantum computing. It brings the Oxford-based startup’s total funding to £37m since it was founded in 2019. Oxford Ionics is using an approach to quantum computing in which charged atomic particles are suspended in electromagnetic fields, with ... Read more ›
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Cambridge-based semiconductor company Flusso has been wholly acquired by a Chinese entity for £28m, company filings reveal. Flusso, a University of Cambridge spinout that develops flow sensor technology, announced last August that it had been “jointly acquired” by a “company and global private equity fund”. The announcement notably omitted the name of the acquirer. However, Companies ... Read more ›
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As we emerge from the festive season, so too has our prime minister, who has been noticeably quiet of late – a trait we’ve not been accustomed to in recent times. His speech on building a better future was certainly high-level, focusing on five challenges for the UK in 2023 – inflation, growing the economy, ... Read more ›
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The ownership of ecommerce brand Trouva has changed hands once again with online shopping brand Re:store acquiring the business from Next. Online lifestyle shopping brand Trouva was launched in 2013. After a period of rapid growth, raising more than $30m from investors such as Index Ventures, Octopus Ventures, LocalGlobe, and Downing Ventures, the company was ... Read more ›
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The British Business Bank is preparing to launch a £150m investment fund in the summer to support the growth of Scottish SMEs. The Investment Fund for Scotland will become the latest in a series of region-specific investment funds from the British Business Bank, a state-owned investment bank for small and medium enterprises. The new fund ... Read more ›
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29.06.2026 12:04
Last update: 11:56 EDT.
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