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
Zilo, a fintech developing asset and wealth management software, has announced a £25m Series A funding round. Founded in 2020, Zilo is aiming to replace legacy approaches to transfer management, which is the process for overseeing investments and assets. These services are typically provided by banks, trust companies and similar institutions. However, Zilo is building ... Read more ›
42
Spinouts from Newcastle University secured a record £40m from investors in 2023, new data has shown. The investment was split across 16 Newcastle University spinouts hailing from sectors including digital tech, life sciences and sustainable engineering. More than half the 2023 Newcastle spinout investment was secured by Advanced Electric Machines. In November the electric vehicle ... Read more ›
0
Health tech company Genomics PLC has raised £35m to develop its risk estimation technology for the prevention of common diseases and cancers. Formed at the University of Oxford in 2014, the spinout has created proprietary algorithms and databases to link small variations of genomes across large datasets to generate risk assessments for health issues across ... Read more ›
21
Orbex has appointed a new CEO and executive chair as it prepares to launch the first vertical rocket from the UK mainland. Phillip Chambers brings more than two decades of experience scaling technology companies – including Gumtree and Peakon – to the Orbex CEO role. Miguel Belló Mora joins Orbex as executive chair from the ... Read more ›
0
The Venture Capital Trust Association (VCTA), the UK industry body for VC investments, has appointed Chris Lewis as its new chair. VCTs are investment funds that target young, high-growth companies and come with tax incentives for participating investors. The VCTA represents twelve of the largest VCT managers in the UK, making up 90% of the ... Read more ›
0
The manufacturing sector in Wales has undergone significant transformation, evolving from its focus on mining in the 19th century to create a diverse range of tech-focused and tech-enabled manufacturing hubs today. A number of global corporations have manufacturing facilities in Wales, including Airbus, General Electric, Toyota, Tata Steel and Sony. Increasing capabilities for factory automation, ... Read more ›
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Kick ICT, a Scottish information technology service provider, has secured a “significant investment” from LDC, a private equity investor that is part of Lloyds Banking Group. The new investment from LDC marks the successful exit from previous Kick ICT backer Business Growth Fund (BGF), which invested £8.7m into the company in November 2021. BGF said ... Read more ›
0
Small business lender Capital on Tap has appointed Damian Brychcy as CEO. Outgoing CEO David Luck, who co-founded Capital on Tap in 2012, will assume the role of executive chairman. Brychcy previously served as promoted chief product officer and comes from a legal background. He takes the CEO role effective immediately. “From day one of ... Read more ›
5
Despite volatile times in tech last year, software engineers have plenty of reasons to be optimistic about 2024, with plenty of interesting tech jobs and new opportunities available. According to Deloitte’s Tech Trends 2024, the most forward-thinking tech companies are empowering engineers with a shift in focus from DevOps to DevEx/DX, meaning developer experience of ... Read more ›
0
Two founding members of a task force to support women entrepreneurs in fast-growth business have resigned, as revealed by government minutes. The latest meeting revealed that Alex Depledge, founder of architectural platform Resi, and Emma Sinclair, founder of corporate management software company Enterprise Alumni, stepped down from the task force. The women-led high-growth enterprise task ... Read more ›
0
Dr Angie Ma is the co-founder of Faculty, a company that builds custom enterprise AI solutions. Ma founded Faculty with Dr Marc Warner and Andy Brookes in 2014. The London-based firm began as a fellowship to help STEM PhD and masters graduates move from academia to a career in data science. It now provides software ... Read more ›
2
The assets of failed events startup Pollen have been sold for just under £158,000, with administrators moving the company once valued at £632m into liquidation to continue an investigation into its operations. StreetTeam Software Limited – trading as Pollen – was issued a winding-up order in a Birmingham court on 18 December 2023 owing more ... Read more ›
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The Development Bank of Japan (DBJ) is set to back the $200m-300m third fund of UK life science investment firm 4BIO Capital. Announced today, the DBJ – a development bank owned by the Japanese government – has entered an agreement to finance the final close of the UK-based 4BIO Ventures III fund, alongside Japanese pharmaceutical ... Read more ›
5
Glasgow is aiming to become the largest internet of things (IoT) innovation hub in Europe following the launch of a £2.5m public-private sector partnership. The initiative will provide public funding for a new facility called “thebeyond” at SkyPark, Finnieston in Glasgow, which will provide 250 desks and a lab space for startups developing “smart things” ... Read more ›
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The UK subsidiary of troubled US co-working startup WeWork posted a comprehensive loss of £123m for 2022 and revealed it owes the parent company £731m. WeWork International, the London-based subsidiary of the New York firm that filed for bankruptcy last year, reduced its losses by just 14% compared with the year prior as the recovery ... Read more ›
2
Bumper, a fintech providing buy now pay later payment options for car repairs, has raised £40m in a funding round featuring backing from Porsche and Jaguar Land Rover. Founded in 2013, Bumper gives garages and dealerships the option to spread the cost of car repairs for customers into interest-free payments. The Sheffield-headquartered company’s clients include ... Read more ›
2
Nearly a quarter of buy now pay later (BNPL) users in the UK have missed payments in the last six months as regulation of the loan product remains limited. Research from the charity the Centre for Financial Capability found that 22% of UK BNPL users had missed one or more payments, with many incurring late ... Read more ›
1
Ecommerce platforms that allow people to sell second-hand goods will be required to report user earnings to HM Revenue and Customs (HMRC). The new policy aims to secure tax revenue on income from the ‘side hustle’ of selling used goods on platforms like Depop, Etsy, eBay, Amazon and Vinted. Sellers making more than £1,000 a ... Read more ›
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HSBC will take on the likes of Wise and Paysend with the launch of its new multi-currency payments app Zing. The London-headquartered bank said Zing allows customers to hold 10 different currencies and access low-cost international transfers and foreign spending in over 30 currencies. HSBC will compete with the fintechs that popularised the modern cross-border ... Read more ›
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London-based fintech Monese has warned that its operations could be “severely affected” should it fail to secure future funding after its latest reports revealed heavy losses. Monese, which offers multi-currency accounts and money transfer services, posted a loss of £30.5m in accounts for the year ended 31 December 2022, a 63% increase from the year ... Read more ›
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Most popular sources
Tech Wire Asia
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28% 6 |
Business Insider
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26% 5 |
Eurogamer.net
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6% 3 |
Mashable
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5% 2 |
Android Authority
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5% 1 |
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29.11.2024 19:39
Last update: 19:21 EDT.
News rating updated: 02:30.
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