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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Venture capital funding raised by UK startups dropped sharply in the third quarter of 2024, new research has found, adding further pressure for founders in search of new investment.  British startups secured around $2.9bn in VC funding in Q3, a 50% drop from the previous quarter, according to the latest report from HSBC Innovation ... Read more ›
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Some see AI as the key driver of change in the business sphere. News such as BlackRock and Microsoft’s planned $30 billion AI investment fund has reinforced this perception. But is this really the case? Despite the buzz surrounding AI, our latest survey reveals that business leaders are prioritising other technologies like cybersecurity, cloud computing, ... Read more ›
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This week’s podcast guest is Joyeeta Das, co-founder and CEO of Samundra Oceans. Das discusses how seaweed has an incredible variety of uses, including food, fuel, fertiliser and bioplastics; how coastal towns are facing the biggest danger from climate change, but could also contain vital ocean expertise; and the challenge of finding patient investors that ... Read more ›
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Four US firms have announced a combined £6.3bn investment into UK data centres as PM Keir Starmer puts technology at the heart of the government’s industrial strategy at this week’s investment summit. CyrusOne, ServiceNow, Cloud HQ and CoreWeave have announced the UK will be the home for their data infrastructure with some of the new ... Read more ›
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Britain’s newest bank has been named in more fraud complaints than any other major UK bank, an investigation has found, as it grapples with the strictures that come with its new banking licence. Canary Wharf-based Revolut, which was provisionally granted the licence in July, was named in nearly 10,000 fraud complaints in the past year, ... Read more ›
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The boss of an AIM-listed tech company has said she would be ‘very disappointed’ if the stock exchange market were to close amid concerns it is not fit for purpose. Claire Milverton, CEO of data management software business 1Spatial, said being listed on the AIM market had been a crucial component of the company’s success. ... Read more ›
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In a move which can only be described as a backwards step, the Payments System Regulator (PSR) has lowered the reimbursement limit for Authorised Push Payment (APP) fraud from £415,000 to £85,000. Like many other security professionals – and fierce consumer advocates – I’m left scratching my head. This decision, while aimed at easing the ... Read more ›
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The space industry is in a worrying state. The UK still can’t conduct space launch activity from its shores, and while it has been heartening to see the value of the space sector discussed in Parliament, the pressing issue of when the UK will commence commercial launch remains unanswered. Delays in regulatory approval and a ... Read more ›
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This week’s UK tech funding deals include academic publishing platform Perlego, security firm Harmonic and challenger bank Monzo. UKTN tracked £131m worth of UK tech investment this week (7 to 11 October), a 20% week-on-week increase across four rounds. Here’s your weekly roundup of UK tech startup funding deals.  THG – £95m Sector: Ecommerce ... Read more ›
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Shares in THG fell around 6% today after the Manchester-based company raised £95m in a fresh fundraise. The London-listed ecommerce firm completed the oversubscribed raise, which were offered at a 5.2% discount to yesterday’s closing share price, after existing long-term and institutional shareholders contributed approximately £50m to the fundraise, including CEO Matthew Moulding who invested ... Read more ›
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The co-founder and former CEO of Darktrace has been named as the UK’s new investment minister as the government seeks to deepen ties with businesses. Poppy Gustafsson, who help setup the cybersecurity firm in 2013 before becoming its CEO in 2016, will be responsible for the revamped Office for Investment and will be tasked with ... Read more ›
0
Monzo’s valuation has jumped to £4.5bn after it completed a fresh employee share sale. The London fintech has seen its value jump by around £400m compared to a funding round it closed in May. Investors participating in the deal include existing backers StepStone Group and GIC, Singapore’s sovereign wealth fund, which took part in Monzo’s ... Read more ›
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When did anyone neurodiverse ever achieve anything? Few names spring to mind. Well, apart from Ada Lovelace, Isaac Newton, Charles Darwin, Albert Einstein, Marie Curie, Thomas Edison, Alan Turing, Nikola Tesla, Bill Gates and Steve Jobs — and many, many more on a list of history’s most scientifically and technologically pioneering minds.  All are thought ... Read more ›
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Pockit has acquired Monese for an undisclosed sum, securing the long-term future of the London fintech that had warned on its ability to raise funds. Pockit founder and CEO Virraj Jatania will lead the enlarged business, with the two separate services continuing to run independently until a review and integration process has been completed. Monese ... Read more ›
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Innovate Finance has unveiled plans to shine a spotlight on fintech startups across the different regions of the UK with a new pitching initiative. The government-backed organisation is to organise a series of regional pitch events over the next 12 months in the North, South West, Midlands, Scotland, Ireland, and Wales. In a project dubbed ... Read more ›
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Meta AI, a ChatGPT competitor developed by the Facebook and Instagram parent company, has today launched in the UK. The product provides similar services to the likes of Gemini and ChatGPT, allowing users to ask questions and generate various forms of written and visual communication instantly. However, keen to fly the flag of open AI ... Read more ›
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Google has added an extra 400 staff to its UK headcount as it prepares to move into its huge new office in London’s King’s Cross. Total UK staff numbers rose from 7,005 to 7,422 by the end of 2023, the tech giant’s accounts show, an increase of 6% on the previous year but a slowdown ... Read more ›
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London-listed software group Netcall has credited a surge in demand for cloud services for the revenue bump in its latest results. The Bedford-based digital services group reported revenue of £39.1m for the year ended June 2024, a 9% increase from 2023. The biggest jump in revenue came from its cloud services offering, which grew by ... Read more ›
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The new UK government has rightly nailed his flag to the mast of economic growth. If PM Keir Starmer delivers on this promise, then the next decade will be gifted to Labour – but should he fail, it’s unlikely the electorate will forgive him. Although short-term growth can be achieved with directed capital spending, long-term ... Read more ›
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The UK’s competition regulator is to review a proposed £129m grant to be awarded to BioNTech by the UK’s Department for Science, Innovation and Technology (DSIT). The Competition and Markets Authority (CMA) will prepare a report evaluating of the DSIT’s assessment of whether the award complies with the relevant subsidy control requirements. The review is ... Read more ›
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Most popular sources
Business Insider
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19% 13 |
The Verge
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12% 6 |
Tech Wire Asia
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8% 2 |
Gizmodo
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8% 3 |
Tom's Hardware
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8% 5 |
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27.11.2024 07:58
Last update: 07:51 EDT.
News rating updated: 14:50.
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