Cybersecurity company Adarma has been given a £2m grant from Scotland’s national economic development agency, Scottish Enterprise. Adarma will use the grant funding for 50 new cybersecurity jobs, the development of its threat management platform and research towards additional services. “The Scottish government supports these plans to increase diversity through recruitment of entry-level staff from ... Read more ›
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The sharp fall in the value of the pound and scrapping of banker bonuses may lead to a flurry of foreign takeovers of UK startups from the US and beyond, analysts have said. The pound’s drop followed Chancellor Kwasi Kwarteng’s mini-budget, which included unfunded tax cuts and caused sterling to dip as low as $1.03 ... Read more ›
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Early-stage investor Ada Ventures has reached a first close of £36m for its second fund that will target early-stage startups focusing on areas including climate, healthcare, ageing and economic empowerment. The capital came from a cornerstone commitment from British Business Bank, Plexo Capital, University of Edinburgh, Taavet+Sten and the co-founders of Supercell, among others. Check ... Read more ›
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Semiconductor designer Arm has cut around 40% of the UK staff that were hired as part of owner SoftBank’s promise to create jobs in Britain. After its acquisition of Arm in 2016, Japanese conglomerate SoftBank pledged to double the number of British jobs at Arm from the then 1,770. While this pledge was successfully met, ... Read more ›
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London-based metaverse startup improbable has closed a $100m (£88m) fundraise at a valuation of more than $3bn (£2.64bn) as the company seeks profitability. Founded in 2012, Improbable develops metaverse infrastructure that allows game developers, academic institutions, businesses, and other enterprises to create their own virtual worlds. Improbable also works with both the UK and the ... Read more ›
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Money transfer platform Atlantic Money has appointed its chief compliance officer and former Revolut manager Calum McWhir as chief operating officer (COO). Documents submitted to Companies House show that Atlantic Money appointed McWhir as COO on the 1 October. Before working at the London fintech, McWhir worked in compliance for Nude, Robinhood, Octopus Wealth and ... Read more ›
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More than half of young tech workers in Europe are considering a career change due to feelings of disillusionment with the sector, new data has found. According to a survey of 2,000 20-30-year-olds working in European tech – including 300 from the UK – 54% are considering leaving the sector. The world of tech startups ... Read more ›
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Venture capital firm Black Seed has closed £5.8m for its first fund to invest in “over-mentored and underfunded” Black British tech founders. Based in Brixton, London, the investor is targeting a final close of £10m and will make early stage investments into tech startups run by Black entrepreneurs. Karl Lokko, chairman and co-founder, Black Seed, ... Read more ›
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The government’s national security review into the acquisition of Newport Wafer Fab by Chinese-owned semiconductor manufacturer Nexperia has been delayed for a third time. UKTN can reveal that the decision on whether to unwind the £63m takeover of Britain’s largest semiconductor manufacturer will miss the deadline of 23:59 on Monday 3 October. The government first launched ... Read more ›
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Google’s UK tax payments have increased by 300% from £50m to £200m, according to the tech giant’s most recent company filings. Turnover on UK operations at the search and advertising behemoth soared to £3.4bn over the same period, up from the £1.8bn in the year ended June 2020. Proft increased from £226m to £896m for ... Read more ›
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Venture capital firm 83North has closed its 11th fund with a total of $400m (£357m) to invest across the US, Europe and Israel. It brings the London-headquartered investor’s total capital under management in excess of $2.2bn (£1.9bn). The 11th fund’s capital came from existing limited partners. “We raise relatively small funds,” 83North said in a ... Read more ›
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The CEO of Zilch has said that companies are “rushing” to launch buy now pay later (BNPL) products to “appease stakeholders” and questioned whether they can make the unit economics work. The rapid growth of BNPL services, in which consumers are given the option to pay in instalments at checkout, has attracted companies from all ... Read more ›
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The 10 startups making up the first cohort of the Sunderland Internet of Things (IoT) and 5G accelerator have been revealed. Launched by Sunderland City Council with BAI Communications and Sunderland Software City (SSC), the IoT and 5G accelerator will look to support regional startups with six weeks of mentorship, infrastructure support, and a £10,000 ... Read more ›
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Biotech Cytomos has announced a trio of appointments to its leadership team, to grow its cell analysis tech ahead of its Series A funding round. David Rigterink has been appointed as CEO and to the board. Dr Lindsay Fraser joins the Cytomos leadership team as chief scientific officer (CSO) and Gordon Sharp has been promoted ... Read more ›
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Travel direct debit card provider Currensea has closed a £4.55m funding round with the addition of a £2.4m boost to accelerate the fintech’s growth plans. Founded in 2018, Currensea is a travel payments card that removes foreign exchange banking fees for payments made internationally. Through open-banking technology, the Currensea card can be linked to a ... Read more ›
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UK digital bank Chetwood Financial has announced a new partnership with parenting forum Mumsnet, with plans to launch a new family-focused financial services proposition next year. Since acquiring a full banking license back in 2018, Chetwood has focused on creating disruptive financial products for underserved segments of the market. The recent acquisition of core banking provider Yobota ... Read more ›
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Among the many policy directions announced in Chancellor Kwasi Kwarteng’s calamitous mini-budget was the announcement of low-tax, low-regulation investment zones. The idea is to incentivise investment in specific regions across the UK. But will it help level up the UK’s regional tech hubs? The policy, published in Kwarteng’s Growth Plan, would see the government work ... Read more ›
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Cambridge has an interesting and varied history dating back as far as 875 AD. It’s home to some of the most famous universities in the world. Plus, it’s got amazing architecture and museums. The bustling urban centre has also become well-known for reasons other than punting: it is one of UK’s leading tech hubs. Since ... Read more ›
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Pension platform Guiide has received an investment of approximately £210,000 and has hired three new employees. Based in Bearsden, Scotland, Guiide’s lastest funding came from previous investors. The capital will go towards two new Guiide services. “Retirement is no longer just about pensions. Our continued goal is to use tech to simplify the mystifying subject ... Read more ›
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SoftBank is cutting 30% of jobs at its Vision Fund, the investment arm of the Japanese company that has invested in hundreds of tech startups globally. According to reports, employees were told of the cuts on Thursday. The layoffs are expected across the UK, US, and China, one source told Reuters. The source added that ... Read more ›
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16.06.2026 06:46
Last update: 06:40 EDT.
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