Crypto investment scams at Lloyds Bank have surged by almost a quarter this year, according to a warning from the global banking group. Lloyds Bank warned on Friday that the number of British investors being defrauded due to false advertising of crypto investment opportunities was on the rise in 2023. The group claimed the volume ... Read more ›
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Yorkshire’s Bimsense has landed £750,000 from NPIF – Mercia Equity Finance for its building safety software. Its Operance tool is designed to be used by high-risk building owners to evaluate their safety and carry out registration with the Building Safety Regulator. Owners must meet these requirements as a result of the Building Safety Act, which ... Read more ›
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Fyma, a London-based startup using AI and computer vision technology to analyse video feeds for property managers, has raised $2.1m (£1.7m). Founded in 2019, Fyma’s software analyses real time video to provide insights into property management. The startup said its platform can precisely track footfall, give analysis on space utilisation and occupancy and provide information ... Read more ›
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Diane Gilpin is the founder and CEO of Smart Green Shipping, a company developing wind power solutions for the shipping industry. The company develops hardware, including a retractable wing sail, and proprietary software, such as a wind prediction tool – all aimed at reducing emissions in the shipping industry. Gilpin has worked in tech for ... Read more ›
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Buy now pay later (BNPL) provider Zilch has almost tripled its revenue as it lays out a path to bottom-line profitability ahead of a possible IPO in 2024. Company filings for the year ended 31 March 2023 show that Zilch’s revenue increased by 173% from £11m the year prior to £30m. The surge in revenue, ... Read more ›
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An interior design platform that provides tools from “sourcing to procurement” has raised £550,000 in a pre-seed round led by QVentures. Co-founded by designers Lori Bolon and Matteo Grand, Portaire can be used to source more than 40,000 design items, communicate with suppliers and create boards. Bolon said: “After years of working internationally as an ... Read more ›
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Ooodles, a London-based startup that offers flexible renting of tech equipment to SMEs, has raised $12m (£9.8m). The company, founded in 2021, has developed a platform for SMEs to hire computers, phones and other tech equipment on a pay-as-you-go basis. According to Ooodles, the practice of SMEs paying large sums upfront and selling the equipment ... Read more ›
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The UK’s communication regulator Ofcom has published its first guidance for technology companies since the introduction of tougher online safety laws last month. Under the new guidance, children on higher-risk sites would not be given a list of suggested friends or appear within other users’ lists. Their location details will not be viewable by anyone ... Read more ›
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Challenger bank Monument has raised £40m in a Series B funding round from Dubai Investments, bringing the total amount raised by the firm over £100m. Founded in 2017 and granted a banking licence in 2021, Monument has sought to differentiate itself from the now competitive neobank market by catering primarily to “mass affluent” clients. The ... Read more ›
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Chip designer Arm has reported a 28% year-on-year increase in revenue, its highest ever at $806m (£656.5m) in its first financial results since its IPO. Despite the revenue growth, shares in the Cambridge-headquartered company fell by up to 8% after it posted a sales outlook below Wall Street expectations. Arm is estimating full-year revenue in ... Read more ›
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A British generative AI startup has raised $1.5m (£1.2m) in seed funding to provide automation tools that assist investment firms with deal flow. London-based Eilla AI says its platform “mirrors” industry professionals to carry out tasks such as market mapping, document creation and offer comparisons. “The bottom line is that financial professionals are paid to ... Read more ›
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London-based insurtech startup Diesta has raised $1.9m (£1.5m) in a funding round to scale its payments platform for the insurance industry. Founded in 2022, Diesta has built a platform for insurance providers to process premium payments. According to the company, insurance firms spend around $32bn annually on allocating premium payments. Diesta claims that by automating ... Read more ›
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Boldr, a London-based climate tech startup developing home energy management tools, has raised $1.2m (£980,000). Founded in 2022, Boldr retrofits home heating and cooling systems with energy-saving products that can be managed by its software platform. Users can control heating, ventilation and air condition systems of any make. Boldr said customers will also eventually be ... Read more ›
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US chipmaker Vishay has agreed to acquire Newport Wafer Fab for $177m (£144m) after the UK government forced its owner Nexperia to sell the company under national security rules. Vishay Intertechnology will acquire the 29-acre site in South Wales, which produces 200mm semiconductor wafers, pending a review. Vishay CEO Joel Smejkal said the aim of ... Read more ›
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Tuesday’s King’s Speech confirmed we could be within months of a change in UK law with the potential to transform people’s lives and turbocharge economic growth. The government has committed to “opening the door to game-changing new technologies” through the Data Protection and Digital Information (DPDI) Bill. The end objective is to achieve ‘open data’, ... Read more ›
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UK-founded rebate management platform Enable has secured a unicorn valuation of $1.12bn after raising $120m (£98m). The Series D round attracted investment from Lightspeed Venture Partners, Menlo Ventures, Norwest Venture Partners, Insight Partners and Sierra Ventures. It gives Enable, which provides software for businesses to manage their B2B rebates, a pre-money valuation of $1bn. It ... Read more ›
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Nimbus Capital has committed up to £20m in a growth equity agreement in Letoon Holding the vegetable waste firm as it gears up for a London IPO. The company has developed a way to use ultrasonic technology to remove nutrients from plants and vegetables. Extracted nutrients have applications in the food, cosmetics and pharmaceutical sectors. ... Read more ›
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Revolut has appointed Victor Stinga, an employee of almost six years, as interim chief financial officer as the fintech prepares the release of its latest accounts. Stinga first began his duties as the interim finance chief in May, according to Sifted, following the sudden resignation of previous CFO Mikko Salovaara due to “personal reasons”. Stinga ... Read more ›
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Pimlico, a crypto startup looking to “make using Ethereum easier”, has secured $4.2m (£3.4m) in a seed investment round from US investor a16z. The London-based startup provides infrastructure for developers to build decentralised products and services. Investment from a16z follows the VC firm officially opening its new office in London last week. “Pimlico is designed ... Read more ›
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The Bank of England and the Financial Conduct Authority (FCA) have jointly published a proposal to regulate a stablecoin pegged to the value of the British pound. Under the proposed rules, providers of wallets – digital cryptoasset storage – would be required to always allow withdrawals of the stablecoin at the value of the pound. ... Read more ›
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30.11.2024 00:45
Last update: 00:35 EDT.
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