The Treasury has reiterated its ambition to transform the UK into a global cryptoasset hub, despite the industry downturn and the aftershock of collapsed exchange FTX. Speaking at a Financial Times banking conference, Andrew Griffith, economic secretary to the Treasury, said he still held the ambition to boost the UK’s position in the cryptoasset space. ... Read more ›
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Exports from the UK to the EU are down 16% on pre-Brexit projections, underscoring the need for Britain to broaden its trading horizons. With last month’s appointment of Rishi Sunak as the UK’s first British Indian prime minister, negotiations for a free trade agreement (FTA) with India have been brought sharply into focus. Despite delays ... Read more ›
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Nesta Impact Investments, the investment arm of the UK science and tech foundation Nesta, has announced a £50m investment strategy to back early-stage impact startups in the UK. Nesta has earmarked more than £25m of the new fund for direct investments into tech startups to be made over the next five years. The remaining funds ... Read more ›
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Manchester-based Biorelate has bagged £6.5m in Series A investment for its AI drug discovery platform for medical companies. Its “Galactic AI” platform uses natural language processing and machine learning, both branches of AI, to collect “billions of biomedical data points” that can be used by medical companies to develop drugs. Dan Jamieson, founder and CEO ... Read more ›
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UK-based entrepreneur initiative Black Girl Fest has revealed the latest cohort for its Launchpad programme, with founders hailing from eight countries and over a quarter based in the UK. Founders in the second Black Girl Fest cohort will receive mentorship over Zoom and the opportunity to pitch for funding up to £15k. Black Girl Fest ... Read more ›
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V7, a startup that automates the process of labelling data, has raised $33m (£27.4m) in a Series A funding round co-led by Candian venture capital firm Radical Ventures and Singaporean state-holding company Temasek. Founded in 2018, V7 describes itself as the data engine to build and improve AI for computer vision. The London-based company offers ... Read more ›
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Fraud complaints at three of the UK’s top challenger banks have increased this year, according to data seen by UKTN. First reported by Sifted, data from the Financial Ombudsman Service (FOS) revealed that neobanks Monzo, Revolut, and Starling all dealt with an increased number of fraud complaints in 2022 compared to the year prior. The ... Read more ›
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Five energy projects across the UK are to receive more than £32m in government funding from the Longer Duration Energy Storage competition. The biggest amount of funding (£9.25m) was awarded to East Lothian-based Sunamp Ltd for testing its thermal storage system in 100 houses. Graham Stuart, climate minister, said: “Accelerating renewables is key to boosting ... Read more ›
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Measures that would have forced large digital platforms to remove “legal but harmful” content have been scrapped from the Online Safety Bill, following criticisms that it could curtail freedom of speech. The amendment comes ahead of the Online Safety Bill, which aims to make the internet a safer place, returning to parliament next month after ... Read more ›
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Rishi Sunak is well-suited as prime minister to support the UK tech industry but needs to better communicate that the country is open to high-skilled overseas talent, the co-founder of entrepreneur community Founders Forum has said. Speaking to UKTN, Brent Hoberman said that Sunak’s track record means he is the “right man for the job” ... Read more ›
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Britishvolt has confirmed it has abandoned plans to build an additional battery cell factory in Canada to focus on R&D and scale-up facilities in Europe. The British battery startup cited “worsening global economic conditions” and the “very significant reduction available investment capital” for scrapping the gigaplant facility at Bécancour Industrial Park in Quebec, Canada. An ... Read more ›
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Edinburgh-based health tech startup Hearing Diagnostics has secured £1.1m as it eyes commercialisation in the US. Founded in 2017, Hearing Diagnostics has developed technology designed to improve the quality of hearing tests. The company is looking to expand the deployment of its services through increased partnerships with retail locations and high-street optical chains. In the ... Read more ›
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University of Oxford spinout EcoSync has raised £964,603 for its artificial intelligence (AI) controlled property energy management system. EcoSync’s tech analyses a building’s temperature with a virtual representation, or digital twin, of the property. It then monitors temperatures and makes changes based on occupancy levels to bring down energy use. Operators of EcoSync can control ... Read more ›
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MPs have warned that the UK risks “falling behind” other countries in safeguarding semiconductor supply and called on the government to forge partnerships with other countries and support the construction of new production facilities in Britain. A report published by the Business, Energy and Industrial Strategy Committee found that the UK is “missing out on ... Read more ›
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Late-stage investor British Patient Capital deployed £341m in its latest financial year, with the majority (£228m) put into its core funds and co-investment programme. The commercial subsidiary of the government-owned British Business Bank invested £341m across 10 fund commitments and two co-investments. British Patient Capital now holds assets that are worth just over £3bn while ... Read more ›
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Nanotech company P2i has become the first business to receive financial backing from HSBC’s new UK Growth Lending fund with a £15m investment. Oxfordshire-based P2i has developed a form of electronic coating material used by manufacturers for products like mobile phones to prevent liquid damage. Founded in 2004, P2i claims the material is more environmentally ... Read more ›
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The UK and Singapore have extended the UK-Singapore Financial Partnership to improve cooperation between their respective fintech sectors. Topics discussed between HM Treasury and The Monetary Authority of Singapore included greenwashing, crypto assets, e-wallets and digital banking. It builds on the Fintech Bridge that began in 2016. Janine Hirt, CEO of industry body Innovate Finance, ... Read more ›
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UK fintech Atom Bank has raised an additional £30m from previous investors as it pushes its timeline back to 2024 or 2025 for an IPO or “liquidity event”. Durham-headquartered Atom said it has agreed terms with two of its biggest shareholders – BBVA and Toscafund – along with previous backer Infinity Investment Partners for the ... Read more ›
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Struggling electric van startup Arrival has appointed the former head of Marvel Entertainment, Peter Cuneo, as interim chief executive after founder Denis Sverdlov stepped down as CEO. Sverdlov will swap jobs with Cuneo, who had previously been Arrival’s chairman of the board. Cuneo was head of Marvel Entertainment until its sale to Disney in 2009 ... Read more ›
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The controversial Online Safety Bill will return to Parliament next month following lengthy delays. The legislation, which aims to make the internet a safer place by giving more powers to communications watchdog Ofcom, has been stuck at the final stage of the Commons since July. The government has now confirmed that it will resume its ... Read more ›
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29.06.2026 18:28
Last update: 18:20 EDT.
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