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
The UK will publish a series of tests to determine when and how to legislate AI technology, according to reports. The government is set to clarify its criteria on what developments would be required for it to push for new laws governing AI, according to a report from the Financial Times. The tech department has ... Read more ›
20
Japanese IT company Fujitsu’s market valuation has dropped by more than $1bn since December as outrage over its role in the Post Office scandal continues. A recent drop in Fujitsu shares has left the company with a market capitalisation of $27.09bn, down from the $28.41bn just one month prior amid scrutiny of Fujitsu’s other UK ... Read more ›
15
The UK’s data protection regulator has fined food delivery company HelloFresh £140,000 for sending millions of spam emails and texts. Over a seven-month period the recipe box firm sent 79 million spam emails and 1 million spam texts, according to the Information Commissioner’s Office (ICO). The Gousto rival has been issued the fine because customers ... Read more ›
5
Dr Muhunthan Thillai is the CEO and co-founder of Qureight, a company that has developed software to analyse clinical images, data and biomarkers. The Cambridge-based tech firm works with pharmaceutical companies, hospitals and research organisations. Qureight’s algorithms structure data from clinical trials to provide insights that can improve treatments and speed up the drug approval ... Read more ›
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London-listed review platform Trustpilot has said it expects revenue for the 2023 financial year of $176m (£137m), which would represent a 17% year-on-year increase. Trustpilot, which is headquartered in Copenhagen, Denmark, said it profitability is ahead of expectations for the year and has commenced a £20m share buyback programme. It has entered into an agreement ... Read more ›
4
The world’s largest tech companies will soon face stricter competition requirements in the UK, including algorithmic transparency and supporting competitors’ products. The Competition and Markets Authority (CMA) today published its policy paper outlining how it will approach its expanded role in regulator large tech companies, following a request from ministers. The goal of the new ... Read more ›
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Shares in cybersecurity company Darktrace jumped by as much as 10% today as the firm posted annual recurring revenue growth of nearly 25%. In its latest trading update, London-listed Darktrace reported that ARR for the six months ended 31 December 2023 increased by 24.3% to $701.7m (£550.9m). The Cambridge-headquartered company said the growth was down ... Read more ›
0
British insurtech company Hyperexponential has secured $73m (£57.3m) funding in a Series B round backed by Silicon Valley investor Andreessen Horowitz. Hyperexponential provides modelling software to insurance companies to determine policy prices. Its pricing intelligence tools are used by the likes of Aviva and Conduit Re during underwriting. The all-equity round was led by investment ... Read more ›
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NumberEight, a startup using AI to deliver consumer behaviour insights to advertisers, has raised $2.7m (£2.1m). Based in London, NumberEight has developed an AI tool to detect the behaviour of device users for advertisers, which can use the information to send personalised ads without needing cookies. “Against the current zeitgeist of increasing privacy regulations and ... Read more ›
8
Furbnow, a climate tech startup in Birmingham retrofitting homes to reduce carbon emissions, has raised £950,000 in pre-seed funding. Founded in 2022, Furbnow was launched to reduce the carbon impact of the average household. According to the Committee on Climate Change, homes account for approximately 20% of carbon emissions and a study from the Buildings ... Read more ›
9
The UK tax authority has issued warnings to millions of people holding cryptocurrencies that self-assessment tax returns must be submitted for crypto gains. HM Revenue and Customs warned that income from cryptocurrencies above the tax-free allowance must be declared to avoid paying late filing penalties and interest charged on the amount owed. Research from the ... Read more ›
0
UK fintech funding fell by a steeper rate than the global average in 2023 but retained its second place for investment globally. UK fintech funding decreased by 66% last year to $5.1bn (£4bn). The funding was spread across 409 deals, down from 592 deals in 2022. Globally, fintech companies secured $51.2bn in 2023 – a ... Read more ›
8
Revolut is facing a legal challenge potentially worth millions due to its storage of user biometric data in the US. Court documents from Illinois revealed a class action complaint has been made against the London-based fintech to “put a stop to its unlawful collection, use and storage” of “sensitive biometric data”. The plaintiff, Tina Haralampopoulos ... Read more ›
0
Digital identification startup Yoti has raised £20m from HSBC and shareholders to support its goal of securing profitability. The funding was split between £12.5m of debt funding from the international bank and a further £7.5m of convertible debt funding from existing shareholders. Founded in 2014, Yoti has become one of the most well-funded companies in ... Read more ›
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Climate tech was the leading sub-sector for UK startup funding last year amid signs that VC funding activity is recovering. Last year UK startups raised $21.3bn (£16.8bn) across all tech sub-sectors, the UK’s third-best year for VC funding and behind only the outlier years of 2021 and 2022 when interest rates were at record lows. ... Read more ›
0
The UK must embrace a regional and grassroots approach to tech policy to unlock economic growth, a report has found. The UK Tech Cluster Group (UKTCG), an organisation representing tech hubs from every nation and region, has called on the government to adopt “Four Big Ideas”. They include improving tech talent pipelines across the UK, ... Read more ›
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Ofcom is preparing to ramp up enforcement of the Online Safety Act by hiring hundreds of additional staff, including from Big Tech firms. The Online Safety Act, which became law in October last year, is the British government’s bid to make the internet a safer place by setting stricter standards of conduct on social media ... Read more ›
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Wrexham-based Chetwood Financial has appointed a new chief operating officer (COO) to oversee the digital bank’s commercial strategy. Julian Hynd brings over 30 years of experience in financial services. He has previously held senior positions at Ford Credit Europe and Volkswagen Financial Services, among others. Chetwood Financial was founded in 2016 and is targeting underserved ... Read more ›
3
Cirata, formerly WANdisco, is targeting cash flow breakeven at the end of the 2024 financial year following a turnaround of a fraud scandal that led to the near-collapse of the data company. The Sheffield and California-headquartered firm reported sequential growth in bookings from Q2 to Q4 in 2023 for both data integration and application lifecycle ... Read more ›
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Automated ecommerce management software startup Patchworks has raised £2m in a follow-on investment from Gresham House Ventures and senior shareholders. Founded in 2014, Patchworks develops software that can be integrated into ecommerce systems such as shopfront, ERP and CRM. Online shopping brands can use the tool to automate and manage the flow of data across ... Read more ›
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Most popular sources
Business Insider
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29% 0 |
Tech Wire Asia
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28% 7 |
Eurogamer.net
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5% |
Android Authority
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5% 1 |
Mashable
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3% 1 |
| View sources » | |
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29.11.2024 17:48
Last update: 17:41 EDT.
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