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Rollercoaster for UK AI scene as PolyAI bags $50M while Stability AI mulls sale

Rollercoaster for UK AI scene as PolyAI bags $50M while Stability AI mulls sale

The artificial intelligence scene in Great Britain feels a little bit like your weekly tv drama at the moment. Major funding rounds compete for attention with controversial CEO departures and outlandish government campaigns (“Unicorn Kingdom” and 3D statue holograms, anyone?).   London-based PolyAI today announced it had secured a valuation of $500mn following a successful fund...

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Leading tech firms invest over £2 billion in the UK in one week

Leading tech firms invest over £2 billion in the UK in one week

Over £2 billion invested by world leading tech companies in the UK this week AI firm CoreWeave are investing £1 billion in the UK Comes as the Chancellor visits the Siemens Healthineers site, marked for a new factory supporting more than 1,300 skilled jobs The Chancellor has welcomed the “safe bet” world leading tech and...

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UK tech funding roundup: This week’s deals from Wayve to FungALL

UK tech funding roundup: This week’s deals from Wayve to FungALL

This week’s UK tech funding deals include autonomous vehicle software developer Wayve, white-labelled insurance provider Eleos, personalised fitness and nutrition app Hexis and more. UKTN tracked £1.9bn worth of UK tech investment this week (6 May to 10 May), a 32% week-on-week increase across 12 funding deals. This figure includes £1.07bn of debt financing for...

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Digital bank Monzo expands fundraising to £500m in deal with top tech investor

Digital bank Monzo expands fundraising to £500m in deal with top tech investor

Monzo, the fintech which has become one of Britain’s biggest consumer banking groups, is this weekend putting the finishing touches to an expanded fundraising involving one of the world’s best-known technology investors. Sky News has learnt that Monzo has agreed terms with Hedosophia, an early backer of Airbnb and Uber, for it to become a...

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Map shows parts of UK that could be underwater by 2050

Map shows parts of UK that could be underwater by 2050

Swathes of the UK, including large areas of London, could be underwater in less than three decades (Picture: iStockphoto/Getty) Rising sea levels are a concern for many countries around the world, as the effects of climate change sees sea ice melting at an alarming rate. Coastal communities fear their homes and businesses being lost to...

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Rapid delivery startup Getir close to exiting UK market – report

Rapid delivery startup Getir close to exiting UK market – report

Getir is reportedly preparing to exit the UK market amid financial difficulties for the rapid grocery delivery startup. Getir was once valued at £9.7bn and is among the largest players in rapid delivery. The Turkish company grew quickly in 2020 and 2021, expanding into more and more markets with VC cash-backed acquisitions of existing firms...

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UK Tech Week: A look ahead to a nationwide celebration of innovation

UK Tech Week: A look ahead to a nationwide celebration of innovation

The first UK Tech Week is just around the corner, with more than 30 confirmed events set to take place across the nations and regions. The inaugural event, running from 23 April to 25 April, aims to showcase the tech innovation and entrepreneurism taking place across the UK. UK Tech Week will see separate events...

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Fintech retakes top spot for UK startup investment

Fintech retakes top spot for UK startup investment

Fintech is once again the UK’s best-funded startup sector after climate tech secured the most investment in 2023. In the first quarter of 2024, UK fintech companies raised $1.4bn across 73 rounds, according to data from Dealroom and HSBC Innovation Banking. Fintech funding rounds over the period include £340m raised by challenger bank Monzo and...

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How to fix the UK’s creaking tech visa system

How to fix the UK’s creaking tech visa system

The UK continues to tackle a skills gap for crucial tech roles. At the same time, government plans to reduce net migration have caused concerns among startups that it will become even more challenging to secure the right talent. What are the visa options for people hoping to work in the UK’s tech ecosystem and...

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UK tech funding roundup: This week’s deals from Mimo to Avenir

UK tech funding roundup: This week’s deals from Mimo to Avenir

This week’s UK tech funding deals include SME financial management platform Mimo, a navigation app for the visually impaired called Waymap, digital carer platform Log my Care and more. UKTN tracked £42.4m worth of tech funding deals this week (08 April to 12 April), an 18% week-on-week decline. Here’s your weekly roundup of UK tech startup...

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Silicon Valley is a worthy benchmark for UK tech – but it has drawbacks

Silicon Valley is a worthy benchmark for UK tech – but it has drawbacks

When Chancellor Jeremy Hunt declared that the UK was on track to become the next Silicon Valley, UK tech was conflicted. Comparing the UK to the fabled US tech sector is both a help and a hindrance. There’s no doubting the Valley’s achievements in creating so many of the biggest companies of the last 30...

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UK tech firm Vertical Future targets space farm orbit in 2026

UK tech firm Vertical Future targets space farm orbit in 2026

UK vertical farming technology business Vertical Future is developing a fully autonomous growing facility that will be used in the first commercial space station, due in orbit in 2026. The company’s proposal – an adaptation of its controlled-environment agriculture (CEA) systems, which have been deployed around the world to produce leafy greens and pharmaceuticals – was exclusively...

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