It’s been a big funding week for London tech firms. This week’s deals include digital bank Zopa, Legal AI tool Lawhive, crypto firm Argo Blockchain and more. UKTN tracked £147.7m worth of UK tech investment this week (2 December to 6 December), a quadrupling of funds raised on last week, across five rounds. Here’s your weekly...
Category: Tech
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UK Cyber Risks Are ‘Widely Underestimated,’ Warns Security Chief
In his first speech on Tuesday, the new head of the U.K.’s National Cyber Security Centre warned that the country’s cyber risks are “widely underestimated.” Richard Horne, who took the position in October, says that hostile activity has “increased in frequency, sophistication and intensity,” largely from foreign actors in Russia and China. He highlighted the...
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Morgan Stanley-backed payments firm Sokin expands to EU via acquisition
Sokin, a British payments firm backed by Morgan Stanley and former footballer Rio Ferdinand, will expand into the European Union (EU) through the acquisition of Norwegian fintech Settle. The acquisition of Settle will give Sokin access to its European EMI licence – regulatory approval to provide payment services in Europe. Settle, which launched in Oslo...
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SatVu secures £10 million Investment co-led by Adara Ventures and Molten Ventures
SatVu has raises £10 million in equity in addition to insurance proceeds puts significant momentum behind the company’s goals. The equity comes from a funding round co-led by Adara Ventures and Molten Ventures, with continued support from their existing investors: NOA, Lockheed Martin, Seraphim, Ridgeline and Stellar Ventures. This round, alongside wider strategic funding,...
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Qatar’s Billion-Pound Boost to UK Climate Tech | Headlines
Qatar is set to invest £1 billion ($1.3 billion) into climate technology initiatives in the United Kingdom, as engineering giant Rolls-Royce stands to benefit from this strategic injection of funds. This was confirmed by the British government on Wednesday, coinciding with the state visit of Qatar’s emir, Sheikh Tamim bin Hamad Al Thani. The...
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Microsoft faces £1bn class action case in UK over software prices
The case has been brought on an “opt-out” basis – meaning UK organisations are all being represented to begin with unless they wish not to be. And it is the latest class action lawsuit to be filed at the UK’s Competition Appeal Tribunal against big tech firms, with Facebook, Google, and mobile phone firms amongst...
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UK antitrust suit hits Microsoft with claim for $1.25B in cloud fees damages | TechCrunch
Microsoft is in the crosshairs of a U.K. competition class action-style lawsuit that’s seeking £1 billion (around $1.25 billion at current exchange rates) in damages. It revolves around accusations related to fees the software giant charged businesses and other organizations for licensing Windows Server when they were customers of rival cloud computing platforms. The suit,...
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India, UK ink key deal to boost electric propulsion technology for warships
In a significant step towards advancing naval technology, India and the United Kingdom on Thursday signed an agreement to collaborate on the design and development of electric propulsion systems for the Indian Navy. The agreement, signed during the third joint working group meeting of the electric propulsion capability partnership in Portsmouth, UK, marks a milestone...
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MAGIC AI secures £4 million Seed Investment led by IW Capital
MAGIC AI raises $5 million for World’s First AI Personal Trainer London UK: IW Capital, a leading investment house specialising in providing growth capital for exceptional UK SMEs, have announced that it has led an investment round of $5 million (£4 million) into MAGIC AI who have developed the world’s leading AI powered fitness...
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UK financial watchdog slammed for failed tech transformation
UK politicians have slammed the nation’s financial regulator for failing to implement a transformation program underpinned by technology. Witnesses asked about the Financial Conduct Authority’s transformation program reached “near unanimity” that it was ineffective, according to a report from an All-Party Parliamentary Group (APPG) of MPs. Bob Blackman, Conservative MP and co-chairman of the APPG,...
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UK seeks collaboration for security research lab to counter Russia and ‘new AI arms race’ | TechCrunch
The U.K. is seeking collaboration for a new AI security research lab that’s designed to counter Russia and other hostile states in what it dubs the “new AI arms race.” While the U.K. government has launched numerous funding initiatives in the past to support cybersecurity projects, the rise of AI-fueled nation-state attacks, specifically, is the...
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Apple Developing ‘LLM Siri’ AI For 2026 | Silicon UK Tech News
iPhone maker reportedly developing next-generation AI large language model for Siri for spring 2026 as it ramps ‘Apple Intelligence’ Apple is testing a version of its Siri digital assistant based on large language model (LLM) technology that it may release to consumers as early as spring 2026, Bloomberg reported. The project, referred to internally as...