“The North East is one of the most deprived areas, healthy life expectancy is one of the lowest in the country. So that is our North Star in itself,” says Rick Charnley, investment director at Northstar Ventures. That is why healthy ageing, along with biotech and clean tech, are among the main focus areas for ... Read more ›
9
British edtech company Multiverse has cut up to 44 jobs, equivalent to 5% of its global headcount, in a bid to revive its US business amid widening losses. Multiverse founder Euan Blair, son of former British Prime Minister Tony Blair, wrote to staff on Tuesday to confirm the redundancies, describing it as the “toughest decision ... Read more ›
2
PhysicsX, a startup working on various engineering-focused AIs, has raised $32m (£25.3m) in a Series A round led by General Catalyst. It is building a group of AI tools to assist with engineering and manufacturing by speeding up workloads like physics and virtual simulations. “Engineering design processes were transformed by numerical simulation and the availability ... Read more ›
2
Belfast-based Cloudsmith, a software supply chain platform used by the likes of Shopify and HP, has secured $11m (£8.8m) in funding to scale its operations. The Northern Irish startup provides cloud-native tools for businesses to manage software assets, including zero-trust security and developer solutions. Founded in 2016, the company’s largest market is the US, with ... Read more ›
2
London-headquartered financial services platform Moneybox has become the latest fintech to achieve profitability. The firm says it first reached the milestone in Q2 this year and remained profitable in the following quarter. The savings and investment app has also reached one million customers. “Against a backdrop of persistent cost of living challenges, our customers are ... Read more ›
27
The UK government has partnered with 29 private sector investors in a bid to spur more investment in companies carrying out R&D. The R&D initiative, which is being run by Innovate UK, will see the government provide £110m. It is an expansion of the Innovate UK Investor Partnership Programme, in which private partners provide equity ... Read more ›
0
Venture capital firm Molten Ventures has proposed an acquisition of rival investor Forward Partners at a valuation of £41.4m. It would see Forward Partners’ 43 tech startup portfolio transferred to Molten Ventures, which includes the likes of alternative asset platform Ctrl Alt. Martin Davis, CEO of Molten Ventures said: “The deal would provide Molten with ... Read more ›
0
In the latest episode of the UKTN Podcast, Stemettes CEO Dr Anne-Marie Imafidon discusses the power of role models for women in tech, how AI for good isn’t aligned with a focus on boosting productivity, and why arguing about ‘wokeism’ is a roadblock to being a science and tech superpower. Imafidon is a British-Nigerian social entrepreneur ... Read more ›
83
UK tech businesses are projected to secure $12.7bn (£10bn) in venture capital this year, the highest in Europe once again despite losing ground to the rest of the continent. Overall, European tech startups are on course to secure $45bn this year, a steep drop from the $82bn collectively raised in 2022. France raised the second-most ... Read more ›
0
Tech giant Microsoft has pledged £2.5bn to build AI infrastructure in the UK as part of a raft of overseas investments announced by the government on Sunday. The investment will bring more data centres and “thousands” of graphics processing units – circuits used to power AI applications – to the UK. It forms part of ... Read more ›
2
An Edinburgh-based startup that has created a cardboard-based inhaler to deliver drugs to patients has secured a £2m investment. 1inhaler said its dry powder inhaler (DPI) is more affordable and environmentally friendly than “bulky plastic” alternatives. The Scottish startup said its inhaler – which has the same dimensions as a credit card – can be ... Read more ›
1
Hydrogen-electric aircraft engine developer ZeroAvia has landed $116m (£92m) in the final close of its Series C round. The British-American company is building zero-emission engines for commercial engines. Its first engine, scheduled for completion by 2026, is for aircraft carrying nine to 19 people and capable of travelling up to 300 miles. The Series C ... Read more ›
0
Lawrence Jones, a tech entrepreneur who founded UKFast, has been found guilty of drugging and raping two women in Manchester in the 1990s. Jones was found guilty following a three-week jury trial at Manchester Crown Court and will be sentenced on 1 December. He was separately found guilty of sexually assaulting a third person – ... Read more ›
1
Japanese venture capital fund SBI Investment has confirmed it will lead a $100m (£79.3m) capital raise into Oxford Quantum Circuits. Today also marks the public launch of the company’s 32-qubit quantum computing platform Toshiko. Its platform is aimed at businesses and can be installed in commercial data centres. UKTN has contacted for more information on ... Read more ›
2
Swedish buy now, pay later (BNPL) company Klarna has been approved to offer payments and credit services in the UK after previously operating under temporary authorisation post-Brexit. The new authorisation, provided by the Financial Conduct Authority (FCA), covers Klarna’s term loan, card, one-time card, in-store card and open banking-based payment services. The Stockholm-headquartered fintech established ... Read more ›
8
Energy supplier OVO has acquired Bonnet, a startup providing electric vehicle charging availability data via an app. The deal marks an exit for founders Patrick Reich and Eliot Makabu just two years after they launched Bonnet, which aggregates the availability of 27,000 public EV chargers across the UK. The acquisition provides Bristol-headquartered OVO Energy with ... Read more ›
4
London-based insurtech startup CatX has raised $2.7m (£2.15m) to connect insurers with capital providers and “bridge the gap” between supply and demand in the reinsurance industry. CatX has created a marketplace that it says can help investors understand insurance risk. It provides tools including advanced risk models and portfolio exposure management. The risk exchange startup ... Read more ›
12
London may hog the lion’s share of tech roles in the UK, as the sheer number of high-profile companies headquartered there ensures this, but between startups, scaleups and household names, a new narrative is unfolding outside the capital with ample regional tech jobs. Leeds recently topped a list as the place with the best-paying ... Read more ›
23
Tax cuts, R&D and pension reform were hotly anticipated by the UK tech sector in the Autumn Statement. For the fintech and payments space, the focus was also on the much-awaited publication of the Future of Payments Review. Led by Joe Garner, the report explored the ‘good news’ and the ‘trouble brewing’ for UK payments ... Read more ›
2
Daniel Attia is the founder and CEO of Creature Comforts, a startup building a pet virtual care app available on a subscription. Founded earlier this year by Attia and veterinary surgeon Russell Welsh, Creature Comforts is aiming to improve the availability and affordability of vet appointments. The startup claims that with the support of its ... Read more ›
1
Most popular sources
Business Insider
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30% 0 |
Tech Wire Asia
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27% 5 |
Eurogamer.net
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6% 3 |
Android Authority
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4% 0 |
CNET
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4% 3 |
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29.11.2024 18:33
Last update: 18:25 EDT.
News rating updated: 01:21.
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