Navigation software company What3words has once again narrowed losses as it continues to pursue its first profits a decade after launching. What3words, which converts GPS coordinates into three-word addresses, posted a loss of £16.5m for the year ended 31 December 2023, a 48% reduction from 2022 and 60% less than in 2021. Turnover for 2023 increased ... Read more ›
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Cheshire-based security software provider PortSwigger has secured $112m (£88.4m) in funding to accelerate product development and increase its international footprint. Brighton Park Capital, an investment firm focused on growth-stage companies within the software and tech-enabled services sectors, was the sole investor in the round. The cybersecurity company, described as an “unconventional” success story by its ... Read more ›
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UK pension and financial services firm Legal & General has launched a new fund that’s aiming to invest £400m in British businesses by the end of 2025. The group is targeting £1bn worth of investments made by the end of next year for its Private Markets Access Fund, with up to 40% allocated for UK ... Read more ›
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How cruelly ironic that London Tech Week and Loneliness Awareness Week coincided on the same seven days in mid-June. It’s not hard to argue that the content of the former – whizzy technology discussed in breathlessly excited tones – begets the latter. On the Monday of that week, Gallup published its latest State of the Global ... Read more ›
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Almost 200 climate tech leaders have signed a joint letter calling on the next government to put climate change at the heart of their agenda ahead of the general election. Addressed to the leaders of the main political parties, the letter’s signatories included climate entrepreneur Michelle You, Aniruddha Sharma, CEO of greenhouse gas removal firm ... Read more ›
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This week’s UK tech funding roundup includes investments into the electric vehicle platform Be.EV, asset intelligence startup Climate X, and more. UKTN tracked £142.7m worth of UK tech investment this week (24 June to 28 June), a 50% % week-on-week increase across nine funding rounds. This roundup does not include Stability AI’s investment – which ... Read more ›
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Liverpool-based startup Heatio has secured £2m in funding to fuel its mission of making clean energy more accessible and affordable. The platform, which was founded in 2022, will use the funding to expand its team and launch an updated version of its smart energy home management tool – Heatio Flexx. Using AI and machine learning, ... Read more ›
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Nataša Williams is the co-founder and CEO of Cadro, a technology-driven wealth management firm. The London-based company combines proprietary technology with traditional investment management. Individuals, for example, can book a meeting with investment experts to understand their risk appetite, and then manage their portfolio via the Cadro app. Founded in 2022 by Williams and Jordan ... Read more ›
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The heir to industrial conglomerate JCB has spearheaded a £5m investment into mobility startup Zeti. Jo Bamford’s HYCAP Group, an energy transition investor, will add Zeti to its portfolio of infrastructure companies, which includes Wrightbus, Ryze and Hygen. Founded in 2020, Zeti has created a digital platform for fleet operators to track finances, lenders to ... Read more ›
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Manchester-based electric vehicle charging network Be.EV has secured £55m in debt financing to roll out public charge points across the UK, with a focus outside of London. The financing came from high street lender NatWest and Germany’s KfW IPEX-Bank. Octopus Energy Generation also provided a follow-on investment through the Sky fund, a majority shareholder in ... Read more ›
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June saw the announcement of the shortlist for the 2024 Fintech Awards Wales, which celebrates the individuals, companies and academic institutions driving the country’s fast-growing financial technology sector. The shortlist for the ‘startup of the year’ gong includes Peppercorn AI, an insurtech platform that raised £3.25m in April. Other nominees for the gong include Proveit, ... Read more ›
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I have spent time recently in both the City of London and its trendy neighbour Shoreditch, and have been struck by their differences. While the pillars holding up the Bank of England hark all the way back to the Roman Empire, Shoreditch tells a more modern story; one of tech startups, pop-up offices, and 24/7 ... Read more ›
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Google Ventures has led an $18m (£14m) investment into London-based startup Climate X to fuel its expansion into the US. The startup provides tools to financial institutions and asset managers to monitor climate risk to their physical portfolios. Additional funding for the Series A round came from Pale Blue Dot, Blue Wire Capital, PT1, Unconventional ... Read more ›
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British startup Stability AI has secured funding from previous backers Coatue Management and Lightspeed Venture Partners and confirmed the appointment of Prem Akkaraju as CEO. Stability has raised “about $80m”, Reuters reported, providing a much-needed capital injection into the company known for its image generation platform Stable Diffusion. Other institutional investors participating in the “initial ... Read more ›
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As the daughter of a Metropolitan Police officer, Emma Kay grew up with plenty of advice on how to stay safe outside. And yet, her experience from her teenage years onward has been one shared by many women. Catcalling, being followed, groping and flashing made Kay and so many others fear walking the streets – ... Read more ›
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Once again, the world’s tech talent convened in London this June for what proved to be another successful London Tech Week. With delegates from 146 different countries descending on the new venue for London Tech Week – Kensington Olympia – all manner of topics were covered – from AI to semiconductors, cleantech to quantum and ... Read more ›
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We occasionally come across companies where one of the original co-founders has left the business. Founders may struggle with remaining positive in those hard early years where sales cycles are long and enter the famous ‘trough of disillusionment’. Others might not be at financial liberty to continue investing their time in a high-risk startup while ... Read more ›
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The amount of capital raised by UK VC funds in the first quarter of 2024 dropped significantly below the year prior to cause a decrease in ‘dry powder’, new data has shown. Venture capital funds raised £700m across 10 vehicles between January and March, according to a market snapshot report from Pitchbook. That’s on track ... Read more ›
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British SME lending platform Funding Circle has agreed to sell its loss-making US business to iBusiness Funding (IBF) for £33m. IBF, which provides lending solutions for banks and lenders, is acquiring Funding Circle’s US business for a total cash consideration of £33m. This figure takes into account Funding Circle US’s losses of £23m in 2023, ... Read more ›
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This week’s UKTN Podcast guest is Michael Mainelli, Lord Mayor of the City of London, who discusses why the UK capital is a global problem solver, why he believes politicians have launched AI regulations “without doing their homework”, and why space junk is a growing problem. The Lord Mayor of the City of London ... Read more ›
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Most popular sources
Business Insider
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27% 2 |
Tech Wire Asia
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15% 10 |
CNET
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7% 4 |
Eurogamer.net
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7% 2 |
The Verge
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6% 2 |
| View sources » | |
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28.11.2024 02:58
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