Shares are up at Cambridge-based semiconductor designer Arm after the company posted strong revenue growth in its latest earnings report. Arm stock surged by about 30% after beating analyst expectations with a quarterly revenue of $824m, a 14% year-on-year increase. Arm, which listed publicly on the Nasdaq Stock Exchange last year, raised its full-year revenue ... Read more ›
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More than 5,000 workers have come to the UK via the Global Talent Visa since it started 10 years ago, as Tech Nation confirms it will continue to assess applications for the Home Office “until further notice”. A report from Tech Nation reflecting on the decade anniversary of the scheme noted that among the 5,249 ... Read more ›
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London-based VC firm Episode 1 Ventures has launched its third investment fund, which has £76m to deploy across early-stage B2B startups. Episode 1 Ventures first launched in 2013 and has since backed prominent UK startups such as Robin AI, Huboo and Carwow. Through its latest fund, the firm will make investments of between £250,000 and ... Read more ›
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Colossyan, an AI startup that generates workplace training videos similar to London-based unicorn Synthesia, has raised $22m (£17.4m). Founded in 2020, Colossyan turns text prompts into training videos hosted by AI avatars. The service can generate multiple videos simultaneously, cutting down the cost of producing traditional videos. The company has been used to produce videos ... Read more ›
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US payments business Entrust is in “early” stage acquisition talks to acquire London-based identity verification scaleup Onfido. The deal would see Entrust add Onfido’s identity verification tools, which scan biometrics and documents, into its portfolio. The companies did not disclose the terms of the deal, which is subject to regulatory approval. Onfido founder and former ... Read more ›
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Generative AI startup AudioStack, which creates voice productions based on user prompts, has raised £2.5m as it looks to take on rival British AI company ElevenLabs. Based in London, AudioStack’s primary product is for the digital marketing space. Clients – which include McDonald’s, Canva and Mountain Dew – input text prompts and AudioStack generates ads ... Read more ›
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Two research hubs in Bristol and Southampton have received £11m each in government funding for research into semiconductor technologies. The two “Innovation and Knowledge Centres” will provide support to help bring advances in chip technology to market. Support will come in the form of training for spinouts, workshops and connecting industry players. The Cornerstone centre ... Read more ›
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The UK arm of electric vehicle maker Arrival has entered administration just three years after being valued at more than £9bn. The company has appointed consultancy firm EY as administrator to oversee the sale of the business and its assets. The collapse puts 172 UK jobs at risk and cast uncertainty over the future production ... Read more ›
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Trade association techUK is inviting over 100 companies from within its membership to join a newly created scaleup group that will feed into the government’s scaleup “policy sprint”. The companies will act as a “focal point” for the trade association’s engagement with the Department of Science, Innovation and Technology (DSIT). The techUK scaleups are based ... Read more ›
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In this week’s episode of the UKTN Podcast, Multiverse CEO Euan Blair discusses the role that apprenticeships can play in the future of work, the impact of AI on skills, and the challenges of breaking into the US market. Blair founded Multiverse in 2016. The edtech company has trained over 10,000 apprentices in partnership with ... Read more ›
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Sable Bio, a London-based B2B biotech startup, has raised £1.5m in a pre-seed funding round for its drug safety testing technology. Founded in 2023, Sable Bio uses AI to analyse broad sets of biomedical data to test potential medicines for toxicity. The data is then given to drug developers to inform safety decisions. Now backed ... Read more ›
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The government has earmarked more than £100m to establish responsible artificial intelligence research hubs and make regulators AI-ready, but enshrining protections through legislation will have to wait. The Department for Science, Innovation and Technology (DSIT) has unveiled a host of policies in response to the AI white paper consultation, published on Tuesday. According to DSIT, ... Read more ›
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The government has announced £45m will be invested into the UK quantum computing sector across a new catalyst fund and a funding competition. Last year, the chancellor unveiled a National Quantum Strategy, backed by £2.5bn over the next decade. As part of the strategy, the Department for Science, Innovation and Technology (DSIT) has announced a ... Read more ›
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The AI Safety Institute (AISI), a state-backed body tasked with developing the UK’s understanding of the risks of artificial intelligence, has added a Google DeepMind employee and an Oxford professor to its research team ranks. Geoffrey Irving has been announced as the research director for the institute, which was founded last November off the back ... Read more ›
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A nationwide tech week is set to launch in April to celebrate regional innovation and entrepreneurship across the UK. The first UK Tech Week will commence with a launch event on 22 April with events taking place across the UK from 23 April to 25 April, UKTN can exclusively reveal. It will see separate events ... Read more ›
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Equity, the British union for performing artists, is ready for industrial action reminiscent of the 2023 Hollywood strikes if key agreements are not reached regarding AI and intellectual property. Speaking to UKTN, Equity trade union official Liam Budd said the group is “industrial [action] ready” as it explores modernising film and TV agreements to “establish ... Read more ›
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The finance and tech community has embraced the latest set of business-oriented policies announced by the Labour Party. Last week, Labour held a business conference alongside the release of its Financing Growth report, in which the opposition outlined a handful of economic policies as it courts the business community in preparation for an election campaign. ... Read more ›
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The UK had one of the highest percentage of venture capital funds invested in startups with female founders in Europe last year, according to a new report, but male-founded companies continue to receive the overwhelming majority of investment. The ‘State of Gender Diversity in European Venture 2024’ report from Female Foundry revealed that 16% of ... Read more ›
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In Australian politics, policies are often judged under the metric of the ‘pub test’: would an ordinary patron understand and accept to be fair any given policy, decision or proposal? Weighing up the merits of Labour’s plans for financial services down at the pub may not be the best conversational gambit for Friday drinks with ... Read more ›
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CryptoUK, the British trade association for the blockchain industry, has brought on the UK’s former crypto regulatory boss as an independent consultant. Binu Paul will join CryptoUK having previously held the role of head of digital assets at the Financial Conduct Authority (FCA). At the FCA, Paul oversaw the establishment of the financial watchdog’s digital ... Read more ›
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29.11.2024 05:47
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