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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Deliveroo has upgraded its adjusted full-year earnings guidance amid flat revenue growth for the previous quarter. The food delivery platform reported revenues across all markets of £523m for the fourth quarter of 2023, an increase of 1% from £521m in the year-ago period. Revenues increased by 4% in the UK and Ireland but fell by ... Read more ›
14
London-based graphic design generator Recraft has raised $12m (£10m) to fund an R&D drive that includes developing its own generative AI foundation model. Launched eight months ago, Recraft is capitalising on the rapid advances in generative AI technology, which lets users create assets like images or video from text prompts. Recraft has created AI tools ... Read more ›
1
Tech unicorns are so-named to reflect the rarity of their mythical namesake. But a goal to make the UK a “scaleup powerhouse” by making the country home to half of all unicorns in Europe by 2030 shows that it is the government which is in fantasyland. The focus on unicorns – a privately held startup ... Read more ›
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Vicky Fuller is the co-founder of Swoperz, a subscription-based preloved kids’ clothing platform. Fuller co-founded Swoperz with Charlene Hurlock in February 2021. The pair were inspired to create Swoperz during lockdown when their children began swapping clothes. The platform lets children aged 6 to 16 swap preloved clothing. They pay a monthly subscription fee to ... Read more ›
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A members-only club for executives, operators and founders from European tech companies is launching its platform to the wider market after securing pre-seed funding. Upscalers has spent two years building a 100-member “exclusive” community and is now expanding its operations. It will host monthly dinners in six European cities – including London – and provide ... Read more ›
2
London-based climate tech startups raised $3.5bn (£2.75bn) of funding in 2023, the second-highest globally and ahead of the San Francisco Bay Area. London was beaten only by Stockholm for climate tech funding, with startups based in the Swedish capital city securing $3.6bn. Startups in the Bay Area raised $2.7bn, followed by Boston at $2.4bn. The ... Read more ›
1
Barclays Eagle Labs is opening the doors of its newly designed Cambridge coworking space to climate tech startups. The site has reopened with an increased desk capacity for up to 130 people and a 75% increase in collaboration space. The startup support organisation has retrofitted the space with technology – such as hybrid solar power, ... Read more ›
14
Cloud spend management platform Vertice has secured $25m (£19.7m) in funding to significantly increase its headcount. Founded in 2021, Vertice provides tools for businesses to track and manage their software and cloud spend. Its platform analyses the software as a service (SaaS) spend of a company and calculates ways to reduce expenditure. The Series B ... Read more ›
2
London-headquartered money transfer business Wise has upgraded its income guidance as it reported revenue growth of 23%. Wise – formerly TransferWise – said third-quarter revenues were up from £225.2m a year ago to £276.6m. In a trading update, Wise cited an increase in customers using multiple features as a key growth driver, with approximately half ... Read more ›
20
Quantum computing company Quantinuum has secured $300m in funding at a pre-money valuation of $5bn (£3.9bn) in one of the first sizeable funding rounds of the year. Quantinuum provides both software and hardware in the quantum computing space. The round was anchored by JPMorgan Chase, which has previously partnered with Quantinuum to apply quantum computing ... Read more ›
2
There is a perception in the West that child labour is an issue confined to a small handful of industries and parts of the world. However, according to HACE founder Eleanor Harry, the problem goes much deeper. “It’s not just a sub-Saharan African or South Asian problem,” Harry says. “There’s about three million children in ... Read more ›
2
A quarter of those over 55 plan to start their own business in 2024, according to research by Virgin StartUp. Of the 2,000 UK adults surveyed, 32% of Brits aged 55 or over said they have been thinking about starting a business this year. Nearly a quarter – 23% – have already taken steps to ... Read more ›
2
Bristol-based biotech startup CellVoyant has secured £7.6m in funding to commercialise its imaging technology that uses AI to predict the behaviour of live stem cells. Founded in 2021 as a spinout from the University of Bristol, CellVoyant has created a patent-pending platform that extracts information from “hundreds of millions of cells within complex mixtures”. This, ... Read more ›
2
The climate emergency is one of the most pressing issues of our time. It is no surprise, then, that when asked about it ahead of COP28, six in 10 Brits viewed it as a top concern. This makes it the fourth most important issue after the cost of living, the NHS, and the economy. The ... Read more ›
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The science and technology secretary is aiming to make the UK a “scaleup powerhouse” and increase its proportion of tech unicorn companies across Europe. In a speech to tech industry leaders outlining her department’s priorities for 2024, taking place later today in east London, Michelle Donelan is expected to say that the UK has “the ... Read more ›
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An agreement for Fujitsu to support Greater Manchester’s advanced manufacturing investment zone is in question over the Japanese IT giant’s role in the Post Office scandal. The Greater Manchester Combined Authority (GMCA) signed an “exploratory partnership agreement” with Fujitsu in December during a trade mission to Tokyo. It will explore ways to apply Fujitsu’s “technical ... Read more ›
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London-based Thema has launched a venture fund platform to provide capital and support to investors looking to create a standalone VC fund. Thema will act as a cornerstone limited partner in new funds, writing tickets of up to £5m and providing operational support. Thema’s focus is pan-European. The VC fund investor said its “all-in-one package” ... Read more ›
12
Detected, a fintech onboarding startup, has raised $2.5m (£2m) in a follow-on investment round from Thomson Reuters and Love Ventures. Founded in 2020, Detected is a software platform for onboarding fintech customers. The platform is comprised of a case management dashboard that aims to display customer profiles simply and clearly. Based in London and New ... Read more ›
2
The majority of research and development (R&D) tax credit claims were disputed or rejected last year, according to new research. R&D tax credits are part of a government scheme to incentivise innovation. They offer companies tax relief on investments in developing new technologies. Last year, 59% of R&D claims were either challenged or declined, according ... Read more ›
0
AI roles now make up more than a quarter of tech jobs advertised in the UK, according to new research from Thomson Reuters. The current boom era of AI, ushered in by generative technologies like ChatGPT, has put major pressure on tech companies to embrace what many are projecting will be an era-defining technology. Newly ... Read more ›
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Tech Wire Asia
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28% 2 |
Business Insider
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28% 1 |
Eurogamer.net
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5% 0 |
Android Authority
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5% 1 |
Mashable
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4% 1 |
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29.11.2024 16:59
Last update: 16:51 EDT.
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