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 ›
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The government has launched two AI innovation competitions, offering UK SMEs the chance to draw funding from a £7m pot. Announced on Friday, the competition encourages SMEs to develop AI solutions in areas such as agriculture, construction, transportation, logistics and the creative industries. The first competition, backed by £5m, is a feasibility study for the ... Read more ›
2
London-listed cybersecurity giant Darktrace has agreed a deal to be acquired by US private equity firm Thoma Bravo at a valuation of $5.3bn (£4.2bn). The 620p-a-share cash offer, which the board has recommended to shareholders, is a 20% premium to the company’s closing price of 517p. The announcement caused a surge of around 20% in ... Read more ›
2
Ria Chakrabarti is the founder and CEO of Veristyle, a consumer app that uses AI to help young women discover the clothes that match their body type. Users upload pictures to the app, which are then analysed with computer vision tools to provide automated styling tips on the best fabrics, cuts, patterns, and colours for ... Read more ›
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This week’s UK tech funding deals include drug discovery company CN Bio, AI forest mapping platform Treefera, generative AI insurtech assistant PeppercornAI and more. UKTN tracked £45m worth of tech funding deals this week (15 April to 19 April), a 77% week-on-week decrease. Here’s your weekly roundup of UK tech startup funding. CN Bio – £17m ... Read more ›
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The tech minister is urging semiconductor leaders to apply for funding through the soon-to-expire Chips Joint Undertaking. UK semiconductor companies and researchers are currently eligible to apply for access to a £5m funding pot for research. British firms gained access to the funding in March when the Department for Science, Innovation and Technology (DSIT) announced ... Read more ›
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The West Midlands tech ecosystem is set to benefit from a £1m investment across sectors including AI, green tech and digital skills. The funding will be deployed across five projects aimed at accelerating the growth of the tech industry in the region. Of the £1m, £200,000 from RBC Brewin Dolphin will go towards investor engagement, ... Read more ›
0
Romania-headquartered cybersecurity company Bitdefender is launching a venture division to invest in early-stage cyber and AI startups. Bitdefender Voyager Ventures (BVV) will back startups at the seed or Series A stage, acting as either a lead or co-investor. A representative for Bitdefender told UKTN that BVV will have a “global mandate but with an emphasis ... Read more ›
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British Patient Capital, a venture capital investment subsidiary of the UK government-owned British Business Bank, has committed £40.6m to a new cybersecurity fund. The Sheffield-based investor will supply the funds to the Evolution Technology Fund III, the third iteration of Evolution Equity Partner’s enterprise software and cybersecurity fund. Previous investments from Evolution funds included Quantexa, ... Read more ›
0
British AI unicorn Synthesia has launched its new generation of AI avatars, promising truly human-like digital speakers. Synthesia CEO Victor Riparbelli said traditional AI avatars, including those made by his own company, have always struggled to capture the nuance of human facial expressions and emotions. The London-based startup, which raised £71.4m last June in a ... Read more ›
0
The next mayor of London should prioritise digital skills, increasing the attractiveness of public listings and improving industry diversity to boost the city’s tech sector, a report from a tech advocacy group has recommended. London is seen as the leading tech hub outside of Silicon Valley. A manifesto published on Tuesday has outlined eight policy ... Read more ›
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A London-based startup using lasers and AI to spot recyclable materials in waste piles and stop them being incinerated has secured £1.65m in funding. Founded in 2022, Sorted’s technology uses computer vision and spectroscopy – measuring electromagnetic fields – to identify recyclable items at waste facilities. The startup then uses lasers controlled by AI to ... Read more ›
0
It seems almost as unlikely as the firm’s name but Improbable CEO Herman Narula tells me, during our chat for the UKTN Podcast, that one of his engineering team came to a virtual staff meeting as a potato. Despite it being the strangest sentence yet in any of my podcasts, it isn’t the most surprising ... Read more ›
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London-based Blue Skies Space has raised £2m in a funding round to support the launch of its new data analytics satellite. The company specialises in gathering scientific data through space technology. Blue Skies Space is currently working towards the launch of Mauve a satellite equipped with sensors to measure ultraviolet wavelength in stars. Monitoring this activity ... Read more ›
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Cambridge-based drug discovery company CN Bio has closed a $21m (£17m) Series B funding round to develop technology that it says eliminates the need for animal testing. The company specialises in organ-on-chip (OOC) technology, a process in which engineered or natural tissues are grown inside chips to mimic human physiology. CN Bio uses OOC tech ... Read more ›
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The government’s tech department has added to its senior ranks with several new appointments, including a chief scientific advisor and a handful of non-executive directors. Prof Christopher Johnson will join the Department for Science, Innovation and Technology (DSIT) as chief scientific advisor in July. Johnson is currently the pro-vice-chancellor for engineering and physical sciences at ... Read more ›
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Paid partnership with KPMG UK With the power to unlock huge benefits for the wider economy, UK tech innovators are our hope for the future. As KPMG opens applications for the firm’s annual Tech Innovator in the UK competition, Nicole Lowe, head of KPMG’s Emerging Giants practice talks to Dr Elliot Street, CEO of Inovus ... Read more ›
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Regional tech industry body Manchester Digital has been awarded funding from Barclays Eagle Labs to support local startups. The funding, awarded as part of the Barclays Eagle Labs Ecosystem Partnership Programme, will assist 200 startups and founders spread evenly across the 10 boroughs of Manchester. “Our Startup Activator programme offers a bold vision of a ... Read more ›
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British AI unicorn Synthesia has launched its new generation of AI avatars, promising truly human-like digital speakers. Synthesia CEO Victor Riparbelli said traditional AI avatars, including those made by his own company, have always struggled to capture the nuance of human facial expressions and emotions. The London-based startup, which raised £71.4m last June in a ... Read more ›
0
In this week’s UKTN Podcast, Octopus Legacy founder Sam Grice discusses how the administrative side of death can make the grieving process much harder, why we need to be able to talk about death to plan our lives properly and keeping the ethos of his business alive after it was acquired.  Grice founded the company, ... Read more ›
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Getir is reportedly preparing to exit the UK market amid financial difficulties for the rapid grocery delivery startup. Getir was once valued at £9.7bn and is among the largest players in rapid delivery. The Turkish company grew quickly in 2020 and 2021, expanding into more and more markets with VC cash-backed acquisitions of existing firms ... Read more ›
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Most popular sources
Tech Wire Asia
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31% 25 |
Business Insider
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25% 3 |
CNET
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8% 2 |
Eurogamer.net
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5% 1 |
Android Authority
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5% 0 |
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28.11.2024 17:27
Last update: 17:21 EDT.
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