The Manchester Prize has returned for its second year as the British government hopes to incentivise AI innovation in the clean tech sector with £2m of prizes. First announced by former chancellor Jeremy Hunt during the 2023 Spring Budget speech, the Manchester Prize is an annual competition for AI developers in the UK managed by ... Read more ›
15
Atom Bank has achieved its first year of post-tax profit, posting net income of £12.3m in its latest annual report. The challenger bank, founded in 2013, reported its strongest-ever financial results on Tuesday, with operating profit growing almost 600% to £27m. The Durham-based digital bank credited the strong results to a 39% increase in lending ... Read more ›
0
CuspAI, a Cambridge-based startup using artificial intelligence to develop new materials supported by the “godfather of AI”, has raised $30m (£24m). The company aims to bring generative AI to the world of advanced materials. CuspAI is developing an AI search engine for users to request specific properties for new materials. “Imagine a search engine not ... Read more ›
22
Finbourne Technology, a London-based investment data management company, has raised £55m in a Series B funding round. Founded in 2016, Finbourne provides asset owners and managers with a platform to track investment performances and conduct compliance duties. Its clients include Northern Trust and the Pension Insurance Corporation. “This funding round and support from top-tier investors ... Read more ›
1
In this episode of the UKTN Podcast, Founders at the University of Cambridge managing director Gerard Grech reflects on the legacy of Tech Nation, explains how universities can support impact startups, and assesses the attractiveness of UK markets. Grech was the founding CEO of Tech Nation, leading the startup support organisation for over a ... Read more ›
0
Spotless Water, a Dorset-based startup that supplies ultra-pure water (UPW) for cleaning equipment, has secured a £3.6m investment. UPW is water that has undergone extreme purification methods to remove all minerals. UPW is used for cleaning specialist equipment, such as solar panels, due to the lack of mineral deposits left after drying. Founded in 2016, ... Read more ›
1
The London markets, still celebrating the successful IPO of budget computer maker Raspberry Pi, have overtaken Paris as Europe’s biggest stock exchange. London has returned to the top European spot in Bloomberg’s index of exchanges with a combined value of £2.51tn, making it the sixth largest in the world. London’s stock markets have spent the ... Read more ›
3
The major UK political parties have released their manifestos ahead of the general election, featuring plenty of policies aimed at supporting the tech industry. AI, data, fintech and R&D are among the key tech areas that the Conservatives and Labour are addressing in this year’s election. The incumbent Conservative Party has been struggling in the ... Read more ›
2
At the UK’s inaugural AI Safety Summit last November, it felt like the government was staking a claim for national AI leadership. That was followed up some months later when the government set out a “pro-innovation” approach to regulating AI. The mood music was one of enthusiasm for AI. There’s been something of a shift ... Read more ›
1
British autonomous vehicle software developer Oxa is supporting the deployment of self-driving cars in the Middle East via a new partnership. The Oxford-based firm, which secured a £115m Series C round featuring Google last year, has partnered with Bayanat, an Abu Dhabi-based AI geospatial and smart mobility company. The partnership was formed to accelerate the ... Read more ›
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The share price of London-listed money transfer firm Wise dropped by as much as 15%, despite positive profit growth in its latest financial report. The fintech posted post-tax profits of £354.6m for the year ended 31 March 2024, a 212% year-on-year increase. Despite the “very strong year” celebrated by co-founder and CEO Kristo Käärmann, the ... Read more ›
0
This week’s UK tech funding deals include health tech startup Amber Therapeutics, wealth management platform Sidekick, cybersecurity firm OnSecurity and more. UKTN tracked £139.2m worth of UK tech investment this week (10 June to 14 June), a 379% week-on-week increase across 11 funding rounds. Here’s your weekly roundup of UK tech startup funding deals. Amber ... Read more ›
15
Jordan Lawrence is the co-founder and chief growth officer at Volt, a real-time payments provider that uses open banking to facilitate transactions between merchants and customers. Founded in 2019 by Lawrence and Tom Greenwood, Volt aims to provide merchants with cheaper transaction costs. Last year, the London-based company secured $60m (£47m) in a Series B ... Read more ›
0
Support for new data centres, long-term R&D funding and reformed, centralised regulators for new technologies are among the key tech policy commitments from the Labour Party’s 2024 manifesto. The Labour Party published its 2024 manifesto ahead of the general election on 4 July. Here are the key tech policies from the Labour manifesto that startups, ... Read more ›
2
London-based wealth management platform Sidekick has raised £8.5m in a combined debt and equity investment. Founded in 2022, Sidekick is a platform aimed at founders, tech workers, lawyers and similar professionals who want to invest beyond picking stocks but don’t know what the next steps are. Services on the platform include access to diverse assets, ... Read more ›
1
British fintech unicorn Revolut is relocating its London headquarters to the financial district Canary Wharf. The fintech has committed to a 10-year lease at the YY London building and will make the move in May 2025. Revolut, which has been seeking a UK banking licence since 2021, will join the likes of Barclays, HSBC, JPMorgan ... Read more ›
0
A £1m pitching competition for West Midlands-based founders has been launched to uncover promising new tech startups in the region. The One to Win competition was launched at London Tech Week by TechWM – a startup support organisation for the West Midlands – and a group of stakeholders including the Rigby Group, SCC, Haatch and ... Read more ›
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A £2bn increase in public R&D spending, a new fund to invest in female entrepreneurs, and investments in advanced manufacturing are among the key tech policy commitments from the Conservative Party’s 2024 manifesto. The Conservatives published its 2024 manifesto ahead of the general election on 4 July. Here are the key tech policies from the ... Read more ›
0
Molten Ventures has written up the value of its stake in British fintech Revolut as the investment firm’s annual report shows the total value of its portfolio has grown to £1.38bn. Molten Ventures said it now values its stake in Revolut at £65.1m, a 20% year-over-year increase as of March 2024, but still down on ... Read more ›
6
Starling Bank has posted its third full year of profitability, with pre-tax profits standing at £301m in its latest annual report. The pre-tax profit reported by the digital bank for the year ended 31 March 2024 represents a 55% increase from the record-breaking year prior. Founded in 2014, Starling Bank reported its first full year ... Read more ›
4
Several years ago, I was invited, alongside my partner – a leading researcher at a local university – to a special themed event to celebrate women in the North East of England that I won’t name here. We both attended the pre-event dinner at a chain restaurant in the city, where we sat, our food ... Read more ›
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Most popular sources
Business Insider
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24% 1 |
Tech Wire Asia
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23% 17 |
CNET
|
8% 6 |
Gizmodo
|
6% 2 |
The Verge
|
5% 4 |
| View sources » | |
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28.11.2024 08:34
Last update: 08:25 EDT.
News rating updated: 15:20.
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