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Approximately 85% of crypto firms do not meet the lowest levels of compliance, the UK’s financial regulator has revealed. The data was published in a conversation between the Financial Conduct Authority (FCA) and the Treasury Committee, revealing that the overwhelming majority of crypto businesses fell short of complying with the financial regulator’s anti-money laundering and […]

Lloyds Banking Group has invested £4m into Caura, a motoring admin app that provides a centralised place for tasks including paying for tolls, city charges, vehicle excise duty, MOTs and vehicle tax. It is Lloyd’s first fintech investment of the year and comes as part of the bank’s involvement with the Fintech Delivery Pledge, a […]

Chancellor Jeremy Hunt has reiterated his vision of making the UK the “next Silicon Valley”, this time to an audience of tech representatives from the likes of Meta, Microsoft, Amazon, Apple, and Google. In a speech given today in London, the chancellor set out a plan to boost the UK economy ahead of his Spring […]

The government has officially established the Advanced Research and Invention Agency (ARIA), an independent body that will fund “high-risk, high-reward” scientific research and technology projects. The government first announced plans to launch ARIA in February 2021. It takes its inspiration from DARPA, the US government research and development agency that has played a pivotal role […]

Hamish Grierson is the CEO and co-founder of Thriva Health, an at-home blood testing company aiming to increase the length of time people live healthy lives. Grierson founded Thriva Health in 2016 alongside Eliot Brooks and Tom Livesey. Its direct-to-consumer service tests for health areas including cholesterol, vitamin levels and liver health. The London-based health […]

The corporate venture capital arm of Covid-19 vaccine maker Pfizer has co-led a $49m (£39.6m) investment into Oxford-based biotech startup Grey Wolf, which develops immuno-oncology therapeutic technology. Founded in 2017, Grey Wolf Therapeutics specialises in combating tumours with its novel anti-cancer treatment. The company is looking to launch medical trials on human patients soon. “This […]

Atlantic Money has written a letter to the UK’s competition regulator accusing British fintech Wise of being “harmful competition” by delisting the payments startup from its price comparison tool. In a letter to the Competition and Markets Authority (CMA), seen by UKTN, Atlantic Money claims that Wise implements policies that “result in it only comparing […]

After recent funding rounds, government loans have been converted to equity holdings

The digital transformation specialist is now located on West George Street

Shazam co-founder Dhiraj Mukherjee has backed employee volunteering tool onHand in its $4m (£3.2m) pre-Series A funding round. Dubbed the “Uber for volunteering” by IBM, onHand is an app that connects employees with sustainability volunteering opportunities, such as youth mentoring and crisis response, and tracks any savings of CO2e. Mukherjee said: “At a time when […]

Public seed-stage funding for British microchip startups and incentives for venture capitalists are among the measures being considered by the government in its upcoming semiconductor strategy, according to reports. The state-owned British Business Bank, Innovate UK and the National Security Strategic Investment Fund are being considered as channels to provide the taxpayer funding, according to […]

Former chancellor Philip Hammond has called for the UK to move faster with crypto policy after being appointed as the chair of the London-based digital asset unicorn Copper. The ex-politician, who served as chancellor under Theresa May, told the Financial Times that the UK needs to catch up with other European countries when it comes […]

South Wales-based IQ Endoscopes has raised £5.2m in an investment round led by BGF for its single-use endoscope device. The medtech startup’s single-use endoscope can be used to initially detect gastrointestinal conditions and various cancers. “Regulatory bodies such as the FDA are increasingly encouraging single-use endoscopes as a means of improving patient safety and ensuring […]

UK businesses are moving research and development (R&D) activity overseas in droves amid new policies that have faced backlash from the tech startup community, new research has suggested. Some 69% of businesses said they moved R&D activity abroad last year, according to a survey conducted by British performance consultancy firm Ayming UK. Its report found […]

Upp, a sustainable food harvesting startup, has secured £500,000 in pre-seed funding to develop and commercialise its broccoli upcycling technology. Founded in 2022, Upp is operating in the plant-based protein market, which has grown in popularity due to heightened concerns about the environmental impact of the meat industry. The Shropshire-based company is focused on both […]

It was Fred Soneya’s experience selling online nursery supplies that led to him co-founding early-stage investment firm Haatch. While ecommerce lead at Kiddicare, Soneya dealt with many B2B software as a service companies. “We used lots of them. We used startups to power our customer experience and as a customer of a SaaS company that […]

Manchester-based venture capital firm Praetura Ventures has appointed a previous Apple executive, a former Team GB swimmer and a CTO as partners. The trio of new partners at Praetura are Lee Forster, Colin Greene and Andy Barrow. All three also join Praetura’s board. Before Praetura, Greene worked at Apple for twelve years, holding various roles […]

The UK’s competition regulator has launched a merger inquiry into Broadcom’s $61bn (£49.5bn) acquisition of VMware. The Competition and Markets Authority (CMA) is launching the probe to assess if the merger between the two US companies will reduce competition in Britain. It comes after the CMA asked stakeholders to comment as part of the preliminary […]

Middlesbrough-based Teesside University is set to launch a London base in the tech campus Here East, becoming the latest organisation to locate in the thriving tech startup community. Located at the Queen Elizabeth Olympic Park, Here East was initially established for the London 2012 Olympic games, but has since become a hub of universities, tech […]

Electric car subscription platform Onto has secured £100m of credit funding from the investment group CDPQ and asset manager Pollen Street. The £100m credit will be used by Onto to purchase more electric cars, which it leases out to customers with a monthly fee that includes insurance, breakdown cover and public charging. “This is a […]

Emperia, a London-base ‘metaverse startup that develops virtual stores for fashion brands, has raised $10m (£8m) in a Series A funding round. Founded in 2019, Emperia creates virtual storefronts to simulate physical shopping experiences when purchasing art and fashion products. It has worked with brands including Lacoste, Dior Beauty and Sunglass Hut. In November last […]

A non-binding offer for bust battery startup Britishvolt has been made by Australian startup Recharge Industries in a move that could get plans for a £3.8bn Northumberland gigafactory back on track. Recharge Industries, founded last year, plans to build a lithium-ion battery cell production facility in Victoria, Australia in addition to one in the US. […]

More than half of UK tech workers are preparing for layoffs as the global industry downturn creates doubts over job security, research has found. A survey of 2,000 UK-based tech workers conducted by CWJobs found that 53% were pre-emptively applying for new jobs over fears of redundancies at their companies. The highest area of risk […]

London-based fintech Tranch has landed $100m (£81m) in funding to bring its business-focused buy now pay later (BNPL) platform to the US. Tranch grew to prominence as a UK fintech last year, when the company was brought on to the distinguished accelerator programme Y Combinator on its Summer 2022 cohort. Since then, the company has […]

Leaders in the UK tech community have once again called out the government on its failure to implement a semiconductor strategy, writing to Prime Minister Rishi Sunak to publish the long-awaited roadmap as a “matter of urgency”. The open letter was signed by tech leaders from the likes of techUK, Tech London Advocates, Birmingham Tech […]

Virtual reality (VR) training startup Gemba has raised $18m (£14.6m) in a Series A funding round led by Parkway Venture Capital to expand into the US market. Gemba’s VR platform is used by companies including Coca-Cola and Nike to train distributed workforces. Its learning programs include simulated factory walks and live training that avoids the […]

Edinburgh-based energy storage start-up plans to build three new demonstrator projects over the next five years

Food tech startup Peckwater Brands has added another company into its umbrella, with the acquisition of food delivery firm Eatclever for an undisclosed sum. Peckwater creates virtual food brands, including menus, that it licenses to restaurants and businesses with the capacity to prepare additional meals for delivery. Its virtual brands are available on delivery aggregators […]

Money management app Plum is launching in five new countries: Italy, Portugal, the Netherlands, Greece and Cyprus. Plum is a subscription financial management app that offers investments, stocks, pensions and a physical spending card. Features include automated saving and investing. The five new countries add to its existing presence in the UK, France, Spain, Ireland […]

Climate tech startup Unwasted has received £1.5m in seed funding from Elbow Beach Capital, ahead of an anticipated £72m Series A. It has developed a process that alters the fibres inside waste cardboard to produce a panel board that can be used across construction, flooring and furniture. Unwasted says its panel board does not require […]

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