PhaSER Biomedical, a Scottish startup specialising in drug discovery, has secured a $2.3m (£1.8m) grant from the Bill and Melinda Gates Foundation. The new grant funding will support a three-year programme from PhaSER Biomedical in collaboration with the Gates Foundation-backed Global Health Discovery Collaboratory Programme. Founded in 2022, the Edinburgh-based business is developing models that ... Read more ›
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The Estonian government is launching a legal sandbox for UK startups to test new regulations aimed at removing “bottlenecks” that hamper innovation. The sandbox is being launched by Accelerate Estonia, a government-backed innovation lab. UK tech companies will be supported by Oxford-based consultancy Oxentia. A launch event on 6 March in London will see 10 ... Read more ›
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Lifted Ventures, a Leeds-based angel investment network, has launched to back women-led startups in the north of England, which receive a fraction of the capital of their male counterparts. The group was launched based on research that found female-led businesses on average generate double the revenue for each pound invested, despite receiving minimal funding. Funding ... Read more ›
2
Bristol-based microchip company Graphcore is exploring a sale into foreign ownership as it struggles to raise new funds, according to reports. The company was said to be exploring options from major tech firms, including from overseas, amid widening losses. Graphcore reported losses of $204.6m for 2022, 11% higher than the year prior. Revenue dropped from ... Read more ›
3
Workflow management software provider Checkit said it is approaching profitability with increased revenue and losses halved for 2023. Checkit’s management software is also used for automated employee monitoring for remote “deskless workers”. The Cambridge-based firm, which develops workplace software used by the NHS, BP, Waitrose and Center Parcs, posted a 16% increase in annual recurring ... Read more ›
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The government has awarded nearly £20m to form four research and innovation partnerships aimed at addressing regional inequality. The “Local Policy Innovation Partnerships” (LPIPs) scheme aims to drive economic growth in Wales, Scotland, Northern Ireland and Yorkshire. The LPIPs will support projects including upskilling in Northern Ireland, incorporating sustainable practices in rural business communities in ... Read more ›
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Robyn Scott is the CEO and co-founder of Apolitical, an online learning platform and community for government workers. Founded in 2015 by Scott and Lisa Witter, Apolitical uses technology to share information between governments to avoid duplication of effort in tackling problems. The London-based company says it aims to bring 21st-century learning into government. It ... Read more ›
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London-based reputation and risk management company Signal AI has acquired London and New York-based Social 360. Signal AI generates brand insights for clients based on analysis of large volumes of data. The product is used to track the sentiment of companies, identify and monitor trends and receive alerts for relevant breaking news. The company said ... Read more ›
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London-based health tech startup Koalaa, which develops prosthetic limbs, has raised $1.2m (£956,000). Founded in 2020, Koalaa claims to have made the world’s first “soft prosthetic arm”, made a breathable fabric that can be comfortably fitted onto a patient. According to company founder Nate Macabuag, the biggest issues for the widespread adoption of artificial limbs ... Read more ›
0
A Newcastle spinout that has created 3D models of human body parts to replace drug testing on animals has secured a £2.35m follow-on investment. Newcells Biotech has developed models that mimic processes in the human body. Pharmaceutical companies can run tests on these models – which include the retina, kidney and lung – instead of ... Read more ›
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Losses at London-based fintech Checkout.com widened to more than £100m for the year ended 2022. Checkout.com posted net losses of $126.3m (£100.5m) in its 2022 accounts, up more than 400% from the year prior. The company put the poor performance down to a “shift in the macro environment and geopolitical backdrop in 2022”. “Rising inflation ... Read more ›
0
Revolut has launched an AI scam-detection tool designed to prevent authorised push payment (APP) fraud schemes. APP is a type of scam in which criminals trick users into transferring funds into their accounts. Scamming is on the rise, with data last year from National Trading Standards claiming almost three quarters (73%) of UK adults have ... Read more ›
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A non-profit programme for UK and Ukrainian startups has launched today to support businesses developing technology that can provide assistance on the frontline. TechExchange will provide pro-bono support in the form of investment and commercial opportunities to defence and agritech startups. It will provide UK-based startups with the opportunity to test their technology in “live ... Read more ›
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The Startup Coalition, an industry advocacy group, has suggested a series of policies to “mitigate” the impact of government changes to angel investor rules that disproportionately affect underrepresented investors. The group recommended a clause to enable self-certification of “Sophisticated Investor” status, provided the individual has invested in two unlisted companies in the last two years. ... Read more ›
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Thousands of delivery drivers for firms including Deliveroo, Uber Eats and Just Eat will strike on Valentine’s Day to demand better pay and working conditions. The strike has been planned for February 14 due to it being a historically popular night for takeaway services. The UK strikes have been loosely organised by the group Delivery ... Read more ›
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Profits at Grimsby-based green tech startup Myenergi fell by 30%, its most recently filed accounts show. The electric vehicle charger and solar battery company cited “challenging market conditions linked to higher inflation, energy prices and the wider cost-of-living crisis”. Net profit – which includes £972,000 in tax credits – stood at £9.8m for the year ... Read more ›
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Earlybird Health, a division of VC firm Earlybird Venture Capital, has raised the final close of its €173m (£147.6m). The fund is targeting European startups in the healthcare sectors, with an emphasis on digital health, diagnostics, medical devices, research and development tools and biopharma. Based in Germany with a presence in London, Earlybird Venture Capital ... Read more ›
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A Cambridge-based company developing smartphone camera technology has secured over $40m (£32m) in a funding round that attracted investment from the venture capital arm of Sony. Cambridge Mechatronics develops shape memory alloy actuators that it says provide image stabilisation and autofocus in smartphone cameras using a “more compact and lightweight design”. Its approach, the company ... Read more ›
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The Alan Turing Institute, a UK government-backed data science and AI non-profit, has appointed four directors tasked with addressing societal issues. The appointments are part of the institute’s new strategy to shape how data science and AI can be used for social good. The key three areas of focus – referred to as “grand challenges” ... Read more ›
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TORTUS, a London-based startup using generative AI to assist clinicians with time-consuming admin tasks, has raised $4.2m (£3.3m). Founded in 2022 by a cardiologist and a machine learning engineer, TORTUS has built a platform, called Operating System Leverage in Electronic Records (OSLER), which can automate documentation and administrative workflows for medical professionals. Co-founder Dr Shankar ... Read more ›
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Most popular sources
Business Insider
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31% 1 |
Tech Wire Asia
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20% 8 |
CNET
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7% 1 |
TechRadar
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5% 4 |
Tom's Hardware
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5% 1 |
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29.11.2024 03:23
Last update: 03:10 EDT.
News rating updated: 10:12.
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