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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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 ›
4
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 ›
2
Fully autonomous vehicles could get the green light to operate on UK roads under legislation introduced in the King’s speech. Laws would be updated to make manufacturers liable if a driverless vehicle crashes while in autonomous mode and give immunity to people sitting behind the wheel. The Autonomous Vehicles Bill would give the Department for ... Read more ›
0
Self-driving software developer Oxa and Austria-headquartered commercial vehicle maker eVersum have partnered to roll out a driverless shuttle in Belfast. Together the two companies are producing self-driving shuttles that will roam the Belfast Harbour Estate’s Innovation District and tourist sites. Each shuttle can transport 20 seated people and will be required to have a human ... Read more ›
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Due, a London-based payments startup founded by an alum of Revolut and Bolt, has secured $3.3m (£2.7m) in funding. Robert Sargsian, who previously worked in the revenue and crypto departments of Revolut as well as the product strategy of Bolt, founded Due in 2022 by. The borderless payments startup aims to bring stablecoins and blockchain ... Read more ›
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London-headquartered payments network Volt has appointed Matt Henderson, who previously was the CEO of Stripe Europe, as a special advisor to its board. Henderson is also the founder of the shopping analytics startup Rangespan, which was acquired by Google in 2014. “I have always been impressed by Volt’s approach to solving the fragmented infrastructure problem ... Read more ›
1
Male-owned venture capital funds received around 10 times more investment from limited partners (LPs) than their woman-owned counterparts over the last six years, according to new data. Between 2017 and 2023, funds owned entirely by men also raised almost five times more than mixed-gender funds, according to a report from VC firm Ada Ventures, Diversity ... Read more ›
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In this week’s UKTN Podcast episode, Priya Guha, venture partner at Merian Ventures, discusses the skills gap and the shortage of women in STEM roles, why tech companies shouldn’t overlook the arts, and how the early-stage gender funding gap is holding back UK growth. Guha has been at Merian Ventures since 2019, where she invests ... Read more ›
0
In the modern business sphere, where the digital realm evolves continually, data is emerging as a key driver of transformation. This evolution is profoundly influential across numerous industries. For the UK’s small and medium-sized enterprises (SMEs), mastering the complex terrain of data represents both formidable challenges and exciting possibilities. The British fintech Payrow provides specialised ... Read more ›
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Bletchley Park – famous for British intelligence – hosted the AI Safety Summit last week. At an associated event in Lancaster House, London, a conversation took place that lacked intelligence. During a softball interview with tech mogul Elon Musk, Prime Minister Rishi Sunak suggested that more British business founders and entrepreneurs should be comfortable with ... Read more ›
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Investment firm Sustainable Ventures has secured £3m to expand its footprint across the country from London to Manchester next year. Barclays Sustainable Impact Capital led the first external raise into the investor. In addition to the northern city, Sustainable Ventures said it has plans for a “number of sites in the UK”. A spokesperson for ... Read more ›
0
Lounge, a British social media startup aiming to capitalise on “Facebook’s decline” among a Gen Z audience, has raised $4m (£3.2m) in funding. Lounge has created a platform for users to organise events and engage in communities. Unlike most social media platforms, Lounge doesn’t have a newsfeed. The startup says this prevents “mindless scrolling” and ... Read more ›
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NatWest has upgraded its virtual assistant Cora to use generative AI through a partnership with tech giant IBM. According to the bank, its customer support robot can now retrieve information on products, services and jobs. “We are a relationship bank in a digital world, building trusted, long-term relationships with our customers through meaningful and personalised ... Read more ›
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Monzo has brought on insurtech founder Phoebe Chibuzo Hugh as the head of the challenger bank’s insurance division. Hugh founded the AI-powered insurance startup Brolly in 2016. According to Crunchbase, the firm has so far raised £1.8m in funding. In 2020 the startup was acquired by Direct Line. Monzo launched travel and insurance offerings in ... Read more ›
2
Exeter-headquartered crowdfunding platform Crowdcube has acquired secondary liquidity site Semper for an undisclosed amount. The secondary marketplace, which lets investors purchase assets from other investors, will continue under the leadership of founders Mathias Pastor and Balthazar de Lavergne. “We started Semper to help iconic companies attract and retain top talent by making equity more tangible,” ... Read more ›
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Swedish fintech Klarna has established a new UK holding company in an “important” step towards an “eventual IPO” as regulatory debates around buy now pay later (BNPL) continue. Based in Stockholm, Klarna is one of the world’s largest providers of BNPL services, which allow consumers to split the cost of purchases into regular payments. The ... Read more ›
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Who would have thought ‘safety’ might be this government’s legacy? Whether it’s AI and its bid to be regulator-in-chief or its promise to make the UK “the safest place in the world to be online”, Rishi Sunak’s government has bounded eagerly into post-Brexit bureaucracy. The landmark Online Safety Bill – legislation designed to put reins ... Read more ›
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Business Insider
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Android Authority
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7% 3 |
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6% 1 |
Gizmodo
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5% 1 |
Tom's Hardware
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4% 1 |
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30.11.2024 11:20
Last update: 11:15 EDT.
News rating updated: 18:13.
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