This week’s UK tech funding deals include online vehicle retail service Carwow, AI-powered savings and investment app Plum, digital recruitment platform Tech1M and more. UKTN tracked £114.2m worth of UK tech investment this week (22 July to 26 July), a 10% week-on-week decrease across 11 funding rounds. Here’s your weekly roundup of UK tech startup […] The post UK tech funding roundup: This week’s deals from Carwow to Tech1M appeared first on UKTN ..read more

Primary Portal, a fintech developing and operating digital infrastructure solutions for equity capital markets, has secured a €8.9m (£7.5m) Series A investment. This first half of its funding round was led by the venture capital arm of Deutsche Börse Group, DB1 Ventures with participation from existing shareholders Dutch Founders Fund and Flow Traders. The London […] The post Primary Portal raises £7.5m to digitise equity capital markets appeared first on UKTN ..read more

The UK, along with 90 other nations, has entered a global digital trade agreement to make international ecommerce faster, cheaper and more accessible. The E-Commerce Joint Initiative from the World Trade Organisation (WTO) will commit all participants to digitalise customs processes, in a potential boost for businesses. This means the end of the numerous print […] The post UK signs WTO agreement to simplify international ecommerce appeared first on UKTN ..read more

Fractile, a London-based AI chip startup looking to break up the dominance of Nvidia, has emerged from stealth with a £12m seed round. Founded in 2022, Fractile claims the AI industry’s over-reliance on a small variety of chips is limiting its performance. The company said the chips used by the largest AI companies are well-suited […] The post UK AI chip startup emerges from stealth with £12m to take on Nvidia appeared first on UKTN ..read more

A startup developing biomaterials with the potential to be used in a wide range of 3D-printed implants and surgical devices has raised £3.4m in Series A investment. Nottingham-based 4D Medicine is a spinout from the universities of Birmingham and Warwick and its founders, Philip Smith and Dr Andrew Dove, have developed a resorbable biomaterial called […] The post Nottingham biomaterial startup 4D Medicine raises £3.4m appeared first on UKTN ..read more

George Proud is the CEO and co-founder of Gendo, a startup that has created a platform for architects to turn text prompts and sketches into realistic visualisations. Founded in 2022 by Proud and Will Jones, Gendo’s technology has been used by the likes of Zaha Hadid Architects, Benoy, KPF, David Chipperfield Architects. The London-based startup, […] The post Gendo founder: A polished pitch deck and sound logic are key to VC funding appeared first on UKTN ..read more

Addionics, a startup that makes components for rechargeable batteries used in electric vehicles (EVs), has announced a Series B funding round of $39m (£30m). The investment will go towards growing teams across the globe, expanding its manufacturing and commercialisation efforts, and improving the construction of its planned US-based gigafactory. Addionics manufactures current collectors, which conduct and bridge the flow of electrons between a material and an external battery terminal. Its 3D current collectors aim to improve heat dissipation throughout electrodes. The result, says Addionics ..read more

A Coinbase subsidiary has been fined £3.5m by the UK financial watchdog for onboarding “high-risk” customers without authorisation. CB Payments Limited (CBPL), a UK-incorporated entity and part of Coinbase Group, was fined by the Financial Conduct Authority (FCA) for violating the terms of a voluntary requirement it entered in 2020. CBPL agreed to address security issues with its framework before taking on high-risk customers. CBPL, which is not currently registered to undertake cryptoasset activities in the UK, onboarded or provided e-money services to 13,416 high-risk customers. The FCA said ..read more

British fintech Revolut, has secured a banking licence in its home country after a more than three-year wait. The London-based company was founded in 2015 and has grown rapidly to become one of the UK’s most valuable private tech firms. Despite being referred to alongside the likes of Monzo and Starling, the company has been operating in the UK as an e-money institution rather than a bank. Revolut first submitted its application for a banking licence to the Financial Conduct Authority (FCA) back in January 2021. The process was a slow one compared with other big-name fintechs that have been li ..read more

Jarvis, a London-based fintech for employees to plan their retirement, has closed a £1.8m seed funding round. Founded in 2022, Jarvis has developed an app to manage personal and workplace pension jars. Users can also receive insights and support for more specific retirement goals. These include budget setting, planning joint retirements, consolidating old pensions and adjusting the pension’s risk profile. Jarvis founder and CEO Royden Greaves said he was inspired to create the company after his career in wealth management. He said working in the space made him see the “stark contrast between t ..read more