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£12m innovation boost for North West shipping, nuclear and cybersecurity

Three North West innovation clusters have won millions of Government cash to boost businesses and universities in areas from nuclear robotics to cybersecurity and maritime decarbonisation. The Engineering and Physical Sciences Research Council (EPSRC) is investing £22m in seven “research and innovation clusters” across the nations and regions of the UK. Two of the projects are rooted in the North West, with a third designed to connect the nuclear legacies of Cumbria and Oxfordshire. The CyberFocus project , led by Prof Daniel Prince at Lancaster University, has secured £4.9m in EPSRC funding. It aims to “fuel the socio-economic potential of the North West cyber sector to ensure that the UK remains at the forefront of cutting-edge cyber security”. It brings together universities, businesses and public sector bodies across Greater Manchester, Merseyside, Lancashire and Cumbria. The EPSRC added: “The project benefits from the arrival of Government Communications Headquarters in Manchester and the imminent arrival of the National Cyber Force in Lancashire. It will foster cross-cluster collaborations with other regional specialisms in aerospace, defence, nuclear and manufacturing.” The project aims to create 85 new collaborative partnerships, develop 400 new products, processes or services, secure an extra £40m in funding for the North West, and to train 300 people in cyber innovation skills. The Maritime and Last Mile Net Zero (MaLaMi) project , led by Prof Zaili Yang at Liverpool John Moores University with other university and public sector partners, aims to accelerate maritime transport decarbonisation and grow low-carbon logistics in Liverpool City Region and across the shipping corridor to Belfast. The maritime economy contributes some £800m in gross value added (GVA) to Liverpool City Region annually, handling 45% of UK trade from North America. The EPSRC said: “MaLaMi will bring greater cohesion and join up researchers, civic bodies and businesses to drive innovation across the maturing LCR maritime cluster that covers areas including commercial shipping, transport, fuels and vessel designs.” And the research body said its £2.5m investment would “lead to the translation of research and technology into commercial applications that will benefit the maritime industry” and “provide insights that could be extended to national levels”. Meanwhile the UK Atomic Energy Authority (UKAEA) will lead the creation of a £4.9m nuclear robotics and artificial intelligence (RAI) cluster across Cumbria and Oxfordshire. The cluster will advance work on the decommissioning of the UK’s legacy nuclear fission facilities . The UKAEA said the cluster will connect academia with the supply chain and added: “The cluster will enable regional growth, create and retain jobs, and help establish the UK as the international lead in nuclear innovation, a US$1 trillion industry.” The project aims to: Create 200 business opportunities Establish 10 spin-out companies Generate 200 new jobs Engage 5,000 people in cluster-driven events Deliver 25 licensing deals Dr Kirsty Hewitson, director of RAICo at UKAEA, said: “As part of our mission to bring fusion energy to the grid, UKAEA hosts the UK’s largest nuclear robotics and artificial intelligence group, with the ability to design, build, and operate robotics for extreme industrial environments. “This new robotics and AI cluster provides an opportunity for UKAEA to leverage our expertise, in collaboration with other consortium partners, wider academia and industry, to develop innovative robotics and AI solutions for nuclear fission and fusion energy decommissioning and adjacent sectors. “UKAEA welcomes this support from UKRI and we look forward to working with university and civic partners to drive research and development that delivers real economic and social impact to Cumbria and Oxfordshire.” EPSRC executive chair, Prof Charlotte Deane, said: “The seven projects announced today will harness regional research and innovation strengths to unleash the potential of emerging and existing innovation clusters across the UK. “Our investment will strengthen partnerships between UK universities, civic bodies and local businesses to create new jobs, improve skills and boost regional economic growth that will benefit places and communities directly. The other clusters are a Digital Healthcare Technology Impact Accelerator (DHTA) in Belfast, a ‘RehabTech Valley’ project in the East Midlands, a scheme to accelerate innovation in the Forth and Tay offshore wind cluster in Scotland, and the North East Space Communications Accelerator (NESCA). CyberFocus: cyber impact for the North West EPSRC investment: £4.9 million Led by: Professor Daniel Prince, Lancaster University University and civic partners: Nuclear robotics and AI cluster across Cumbria and Oxfordshire EPSRC contribution: £4.9 million Led by: Dr Kirsty Hewitson, UK Atomic Energy Authority University and civic partners: Maritime and Last Mile Net Zero (MaLaMi) Led by: Professor Zaili Yang Liverpool John Moores University EPSRC contribution: £2.5 million University and civic partners:

Revenue and profits rise at Tyneside games developer Ubisoft Reflections

North East games developer Ubisoft Reflections chalked up a 12% leap in revenues, with its popular Tom Clancy games bringing in more than half of all sales, new accounts show. Newcastle’s Reflections became part of the Ubisoft group in 2007, with the global games giant having its head office in France and bases in almost 30 countries. The move which triggered growth at the Tyneside firm as it works alongside other studios on within the group around the world. The Gosforth-based firm, known for its games including Tom Clancy’s The Division and Watch Dogs, has published accounts for the year ended March 31 2024, showing revenue increased from £50.3m to £56.3m. Operating profit rose from £27.1m to £31.1m, while pre-tax profit increased from £22.5m to £27.1m. Overall profit rose from £16.5m to £22.2m. Average employee numbers dropped from 416 to 393, however. A breakdown in turnover showed that £25.5m of the total sales related to development of games software and that £30.8m accounted for the Tom Clancy brand and associated trademarks. The directors’ report said: “During the year the company worked on various titles in collaboration with other Ubisoft Studios including some unannounced titles. The company’s activities flex to meet the demands of the projects and headcount has stabilised based on current demand. “The Clancy brand revenue showed a significant increase. In its ninth year, Rainbow Six Siege strengthened its leadership in the highly competitive first-person shooter live services landscape with impressive and sustained numbers throughout the year which is reflected in the 34% increase in profit for the year. Other sales of £26m have remained in line with 2023.” The firm said that the impact of the cost of living on its staff continues to be a challenge and “where possible measures have been put in place to provide additional support for staff”. It added that that its products are subject to technological advances so the group is committed to research and development. The studio also highlighted how the company is involved in initiatives designed to boost skills and encourage future workers “in particular by providing support to those most vulnerable, such as job seekers, seniors, and those from rapidly changing urban areas”. The report added: “The Newcastle studio continues with its role as skills developer within the Dynamo North East group, which is supporting Newcastle’s post industrial transition to help the city become an emerging technological hub. This industrial initiative focused on the growth of the technology sector in North East England seeks to promote skills, education, and support research and development in the regions in the new technologies sector.”

Manchester is most popular UK city outside London to start a tech business, Capital Enterprise report shows

Manchester is the most popular UK city outside London to start a tech business, a new report suggests. Business innovation specialist Capital Enterprise says its poll of decision-makers at UK technology businesses showed Manchester and Liverpool were among the top locations for UK entrepreneurs to start new businesses. The report has been released on the day Capital Enterprise and tech hub Turing Innovation Catalyst Manchester hold their "Innovation with Impact AI Startup Showcase" to showcase the startups on their AI Accelerator programme. Capital Enterprise aims to drive investment across the UK and close the gap between the London-Oxbridge Golden Triangle and the rest of the country. Its members include investors, universities, corporates, business incubators and public sector bodies. Its latest research comes just days after Chancellor Rachel Reeves vowed to turn the Oxford-Cambridge corridor into Europe’s Silicon Valley. The organisation asked entrepreneurs which UK city they would choose if they started a new business. Manchester was the top regional city, with 28% of leaders believing it would be the best city in which to start a new business. While London topped the poll nationally, some 28% of leaders also believed London would be the worst city to start a business. The most important factor for all business leaders was the availability of local talent. Every business polled said that was important to their business, and more than half said that was a key factor in deciding where to build and grow. Some 84% of those surveyed felt that transport and connectivity were either 'very important' or 'essential' to their decision-making, while 44% listed entrepreneur and business support as a factor that would influence their location choice. Other Northern cities to score strongly as potential business locations were Liverpool, in fifth place, and Leeds in 11th. More than half of the business leaders polled (55%) said the UK government could do more to encourage startups outside London and the South East. Jonny Clark, who leads Capital Enterprise, said: “Tech entrepreneurs are increasingly drawn to the North’s growing innovation hubs, not just for affordability but for the strong networks of talent, transport links and business support they provide. By enabling founders to access funding, support and world class talent, programmes like the Turing Innovation Catalyst AI Accelerator are vital in stimulating these dynamic startup ecosystems. These factors propel founders to fulfil their potential to become major employers, drive economic growth, and shape the region’s future." Liz Scott, director at Turing Innovation Catalyst, says: “This new research reflects what we see on the ground: tech entrepreneurs are gravitating to Greater Manchester because it combines access to talent with leading research hubs and a close-knit business support ecosystem. By empowering entrepreneurs and innovators from across the region, Turing Innovation Catalyst Manchester plays a key role in connecting startup founders with the mentorship and investment they need to succeed.” One of the startups on the Turing Innovation Catalyst programme is Spotlight Pathology, which uses AI to enable precise blood cancer diagnoses. Founder Martin Fergie said: "Manchester is an ideal base for an AI medtech startup, combining world-class clinical research, leading cancer institutes like The Christie, and a thriving tech ecosystem supported by major global companies—creating the perfect environment for innovation and growth." Last month BusinessLive reported on Baltic Ventures' Accelerator 2024 Demo Day in Liverpool, where entrepreneurs from 10 companies pitched to investors and key players in the North West tech scene.

Cardiff tech venture Nisien.AI boosted with equity investment

An artificial intelligence spinout company from Cardiff University that has developed a platform to identify online harm and enhance moderation is looking to accelerate growth following a significant equity investment. Nisien.AI has been backed in the first co-investment between the Development Bank of Wales and the British Business Bank’s £130m Investment Fund For Wales (IFW). The exact value of the investment, and the ownership stakes taken, have not been disclosed. The IFW is managed on behalf of the British Business Bank, which is the economic development of the UK Government, by fund manager Foresight. Founded less than two years ago by two Cardiff University academics, Professors Matt Williams criminology) and Pete Burnap (data science, AI), Nisien.AI uses scientifically informed technology to detect and respond to online harms, such as online conflict, to support healthy debate and conversations. Nisien.AI, which already has 14 employees, is working with key customers ranging from the top five social media platforms to global brands. The new investment will enable the company to continue to innovate and scale, making key hires and accelerating R&D to develop and bring to market products like its maiden revenue generating product HERO Detect, which deploys AI algorithms to accurately detect and classify harms across online platforms in real-time. In addition to identifying and responding to online harms, the company is also working on new AI products based on emerging scientific evidence on ‘what works’ in building cohesive integrated online spaces. These distinctive products address user/customer retention issues on social media platforms and brand channels, by using a non-censorship approach that protects freedom of expression. These products will support content moderation and longer term healthy online conversation and community integration. This functionality is essential given the polarising debate around issues of freedom of speech, where the current option to censor content is sub-optimal for users, platforms and brands. Alongside the investment, Foresight has introduced an experienced chair, Tony Stockham, to the business. Mr Stockham has worked with Foresight in the past to scale technology businesses and was formerly both an academic and successful entrepreneur in the field of AI. The founders, who are taking on the roles of chief science officer (Mr Williams) and chief AI officer (Burnap) at Nisien, will also remain employees of Cardiff University. They are supported by senior industry hires, including Lee Gainer, former CFO of Wealthify who has joined as chief executive; Dean Doyle, former head of delivery at HateLab, who has joined as chief operating officer and Rhodri Hewitson, former principal engineer at AM Digital, who has joined as head of engineering. Mr Gainer: “It’s an incredibly exciting time to be growing a challenger business in this sector. With the Online Safety Act being implemented soon, we believe the growth potential for Nisien.AI is huge. "With the support of Foresight, the Development Bank of Wales and the British Business Bank, we look forward to accelerating on the great start the business has made since its formation and continuing to grow, creating sustainable new tech jobs here in Cardiff.” Ruby Godrich, investment manager at Foresight said: “We are excited to be working with the Development Bank of Wales on our first joint investment into Nisien AI. We are keen to see the improvements Nisien.AI will provide to online safety and look forward to working together with the Nisien team.” Bethan Bannister, senior investment manager at the British Business Bank, said: “The Investment Fund for Wales was established to provide the financial backing that pioneering and ambitious companies like Nisien.AI so often need, and we are pleased to support their growth plans as they continue to innovate and scale. " The company has certainly established itself as one-to-watch on the Welsh tech scene and we’re looking forward to tracking their success as they continue on their journey.” Hannah Mallen, assistant investment executive at the Development Bank of Wales, said: “Nisien is a great example of a Welsh business working at the cutting edge of a rapidly developing field. Part of our aim at the development bank is to support businesses in Wales with strong growth potential and a positive social impact. "Nisien’s work will be increasingly important in the rapidly evolving and increasingly topical world of social media, and we’re glad to have supported them during this round. We look forward to working with Foresight to support the business.” Advisers: Financial due diligence SME Finance Partners (Chris Thomas). Foresight Legals: Geldards (Alex Butler and Mina Dimitrova isien.AI a pioneering Welsh artificial). Tech due diligence: Woodstreet Research (Cai Gwinnutt). Development Bank of Wales legals: Blake Morgan.

Google faces UK antitrust probe in crackdown on Big Tech dominance

The Competition and Markets Authority (CMA) has initiated an investigation into Google to determine if its search and advertising services are producing fair outcomes within the UK. Today, the watchdog declared the commencement of its inaugural "strategic market status designation investigation" under the new Strategic Market Status (SMS) regime that came into effect on 1 January this year, as reported by City AM. The inquiry will scrutinise the effects of Google’s services on UK consumers and businesses, including publishers, search engine rivals, and advertisers. With Google's search services commanding over 90 per cent of search queries in the UK, the CMA emphasised the importance of ensuring these services benefit both businesses and consumers. "Millions of people and businesses across the UK rely on Google’s search and advertising services – with 90 per cent of searches happening on their platform and more than 200,000 UK businesses advertising there," said Sarah Cardell, CMA Chief Executive. "That’s why it’s so important to ensure these services are delivering good outcomes for people and businesses and that there is a level playing field, especially as AI has the potential to transform search services." The investigation aims to guarantee that individuals enjoy access to diverse services and full control over their data, while also fostering innovative services and preventing biased content, according to the CMA. The Competition and Markets Authority (CMA) in the UK is set to initiate a probe with the objective of maintaining competitive advertisement costs, reducing consumer prices, and affording emerging enterprises an opportunity to vie with established tech entities. The CMA has indicated its intent to conclude the inquiry within approximately nine months. "It’s our job to ensure people get the full benefit of choice and innovation in search services and get a fair deal – for example in how their data is collected and stored," said Cardell. "And for businesses, whether you are a rival search engine, an advertiser or a news organisation, we want to ensure there is a level playing field for all businesses, large and small, to succeed." This investigation is part of a wider effort to rein in big tech firms, as signified by Google's 2024 court defeat in the US over claims that it unlawfully sustained its internet search monopoly.

Zoo Digital narrows losses as Hollywood recovers from damaging strikes

Subtitling and dubbing services firm Zoo Digital has hailed a rise in revenues and narrowed losses as it recovers from the impact of Hollywood strikes last year. The Sheffield-based firm says it cut operating losses from $10.9m (£8.5m) to $2.5m (£1.9m) in the six months to the end of September, as revenues in the same period increased 29% to $27.6m (£21.5m). Interim results published to the London Stock Exchange detail how Zoo has cut salary costs by $4.5m (£3.5m) and grown its freelancer network as part of a streamlining exercise in the face of the industry downturn. It said the measures put it on a strong footing to return to cashflow breakeven. Bosses said the entertainment industry recovery is expected to continue steadily, and throughout 2025 and that while the firm had traded in line with full year expectations throughout the first half of its 2025 year, the visibility of fourth quarter orders was "limited". During the period Zoo launched an Italian operation in Milan and said it now had Indian production centres up and running. Since the period end it has also secured additional debt finance, giving it $5.6m in total. Stuart Green, CEO of Zoo Digital, said: "These results demonstrate that Zoo is recovering well from the impact of the Hollywood strikes and aligning with our customers' evolving content strategies. Taking action to deliver efficiencies, including relocating some operations to India; embracing innovations such as artificial intelligence; and the pursuit of opportunities in new regions, have seen Zoo become a more agile and efficient business, ready for the next chapter of our growth story.

Apple halts AI news alerts on iPhones after huge backlash over 'inaccurate' headlines

Apple has temporarily halted its artificial intelligence (AI) feature for news apps following criticism over repeated inaccuracies in alerts. The tech giant faced backlash from media outlets including the BBC, who complained that their articles were being incorrectly summarised. Organisations such as Reporters Without Borders and Bluesky had urged Apple to suspend the feature as early as December, citing concerns about misinformation. One misstep involved a BBC article on Luigi Mangione, which was erroneously headlined as him having shot himself, rather than being charged with the murder of UnitedHealthcare CEO Brian Thompson, as reported by City AM. Other inaccuracies included claims from the New York Times and the Washington Post that tennis player Rafael Nadal had come out as gay, and prematurely declaring Luke Littler as the winner of the World Darts Championship final. "We are working on improvements and will make them available in a future software update", an Apple spokesperson told the BBC. Despite initial complaints from the BBC in December, Apple did not respond or take action until January, promising a software update to clarify the AI summary's role instead of completely discontinuing it. This response drew further criticism, leading Apple to disable the feature entirely. "We’re pleased that Apple has listened to our concerns and is pausing the summarising feature for news." A BBC spokesperson added: "We look forward to working with them constructively on next steps. Our priority is the accuracy of the news we deliver to audiences which is essential to building and maintaining trust". This latest development follows a wider clampdown on the tech giant, which is set to face a UK class action trial over allegations of charging "excessive and unlawful" fees on its App Store. Apple is the first major tech firm to face trial under the UK's collective regime, amid a growing trend of large-scale class action lawsuits targeting tech industry leaders in the UK.

Wootzano hails new Malaysian partnership as it launches £500,000 crowdfunding bid

Robotics developer Wootzano has announced yet another overseas partnership it says is worth millions of pounds, at the same time as a crowdfunding bid to raise £500,000. The Tyneside-based maker of post-harvest, robotic packing systems, which was named Business of the Year at the 2024 North East Business Awards, has secured its latest partnership with Malaysian consultancy VCI Global in a bid to sell its technology into the country's agricultural market. Wootzano says the agreement is worth £30m and marks a "pivotal moment" in the company's international growth. The deal will see Wootzano's flagship Avarai robot introduced to Malaysian customers. It is equipped with the firm's ground breaking electronic skin that helps the machine sense, pick and pack delicate produce with capabilities similar to a human. Kuala Lumpur-based VCI Global is a diversified holding company with subsidiaries specialising in consulting, fintech, AI, robotics, and cybersecurity. Last year it listed on Nasdaq and is said to be an ideal partner for Wootzano thanks to its support for emerging technologies. Atif Syed, CEO of Wootzano, said: "This partnership with VCI Global is a powerful endorsement of Wootzano’s vision to bring high-tech robotics to the forefront of agriculture. Avarai has the potential to revolutionise post-harvest processes, driving both efficiency and sustainability. We’re thrilled to play a role in Malaysia’s transition to advanced, tech-driven agriculture." The Malaysian partnership follows a successful period establishing overseas partnerships for Wootzano, including in the US, Canada and Japan, and comes after the firm's move from County Durham to Tyneside earlier this year. Mr Atif added: "Wootzano’s expansion into Malaysia, alongside our presence in Australia, Japan, the US, and Canada, marks a significant milestone in our mission to make Avarai accessible beyond high labour-cost regions. This breakthrough in Malaysia demonstrates that our technology is now viable and valuable in diverse markets, opening up tremendous potential across Southeast Asia, the Middle East, and South Asia. We are excited about this development, as it showcases the adaptability and global impact of Avarai in revolutionising the fresh produce industry worldwide." Coinciding with news of the Malaysia agreement, Wootzano has launched a crowdfunding campaign via Crowdcube that is seeking £500,000 to fuel the scaling of its operations in the UK and the US. So far the firm has already raised more than £337,000 of that target from four investors.

Tech South West receives government backing to expand growth accelerator

Tech South West, the regional sector support organisation, has secured Government funding to expand its Growth Forge accelerator. The money comes via the Barclays Eagle Labs Ecosystem Partnership Programme and will boost support for technology businesses across the West Country. The 2025 programme includes three specialist growth tracks covering AI, marinetech and cleantech. The expansion follows Growth Forge's successful first year in 2024, which saw participating tech companies secure more than £1.6m in investment and £500,000 in grants. Dan Pritchard, founder of Tech South West, said: “Since Growth Forge launched we have supported founders of dozens of growth-focused companies across the region, helping them secure investment, access grant funding, grow their teams and enhance their business operations. “The introduction of specialist tracks in AI, MarineTech and CleanTech reflects the South West's emerging strengths in these sectors. We’re delighted to be able to expand and deliver the programme with support from a host of exciting partners.” The programme brings together industry leaders including Microsoft, British Business Bank, Bishop Fleming, Ashfords, Howden, Program, Innovate UK Business Growth Programme, Plymouth and South Devon Freeport, and Future Space to deliver expert support. Companies on the programme receive support via one-to-one mentoring, partner consultations, interactive workshops, face-to-face growth days and ongoing founder peer groups. Amanda Allan, director of Barclays Eagle Labs, added: “We are eager to support the growth of the tech sector as much as possible and using our Ecosystem Partnership Programme, we’re allocating funding to organisations like Tech South West who are already plugged into their ecosystem needs. “We are proud to be able to support these projects which are designed to help early-stage tech entrepreneurs. This ensures our on-going commitment to support the tech sector which is vital to the continued growth of local economies across the whole of the UK.”

Virtual reality training data firm Vrai secures £4.2m from venture capitalists

Virtual reality simulation specialist Vrai has landed £4.2m investment led by transatlantic venture capital firm Beringea. The provider of performance data systems in simulation training, with customers including the British Army, Irish Defence Forces and the Royal Air Force, says it will use the capital injection to expand into the US, as well as creating jobs in its Newcastle and Dublin offices. The Series A fundraise means the tech company joins Beringea's $900m investment portfolio that also includes alcohol free lager brand Lucky Saint and digital entertainment media company Whistle Sports, along with many other UK and US businesses. Vrai will use Beringea's US presence to expand into what it says is the world’s largest market for immersive technologies in aerospace, defence and security. Vrai's team of 25 - split across the offices in Newcastle and Dublin - is expected to double in size as it invests in more product, sales, and marketing manpower. Those jobs are expected to cover both sites and a base in the US. The firm was launched in 2017 and its core product, HEAT, integrates with simulators of all kinds - including via headset displays - to provide an analytics layer that delivers insights into human performance. The technology is targeted at industries with complex and expensive equipment such as aerospace, defence and security - with estimates the global market for simulation learning could triple in size to almost $45bn by 2032. Beringea's investment into Vrai follows €3m raised to date from investors including Enterprise Ireland, Northstar Ventures, and several Irish family offices. The venture capitalist previously backed Newcastle-based digital agency TH_NK until it was acquired by US software firm EPAM in 2018. Pat O’Connor, founder and CEO of Vrai, said: “We are delighted to announce our latest investment round, which marks a significant milestone in our mission to redefine exceptional human performance through data driven simulation. We aim to be global leaders in our niche. This investment will allow us to continue innovating for our existing customers, continue building a talent dense team and growing the company through our new US office." Luke Edis, investment director at Beringea, said: "Global industries – particularly defence and aerospace – are increasingly turning to simulated environments to provide training. Gone are the days when individuals had to learn within expensive pieces of equipment – you can now train in simulated environments that are cheaper, safer, and more measurable.

UK government unveils major £23m telecoms boost to support AI and cloud computing

The UK government is set to bolster the nation's connectivity capabilities with a £23 million injection into telecoms research and development. This financial commitment is aimed at enhancing interconnectedness within pivotal sectors like AI, cloud computing, and agriculture. The investment aligns with the strategic objectives of science and technology secretary Peter Kyle, whose goal is to fast-track the introduction of cutting-edge telecom technologies. Kyle is expected to unveil the funding details in his upcoming address at the TechUK tech policy conference today, as reported by City AM. Ahead of this reveal, Kyle highlighted the significance of advancing telecom investments: "The UK has deep pedigree and expertise when it comes to developing, commercialising, and rolling out the most advanced telecoms tech. "Today, it is all the more important that we back our telecoms innovators to get their ideas out of the lab and into use, in every part of the country." The earmarked funds are destined for two principal domains. About £7 million will be channelled into local endeavours that integrate 5G with enterprises and public services, aiming to boost efficiency and public safety via improved connectivity. The bulk of the fund, amounting to £15 million, is reserved for research catering to the surging demands of data-hungry industries such as AI and cloud computing. This move is part of a comprehensive strategy to reinforce the UK's digital framework, positioning it to accommodate nascent technologies effectively. "None of our ambitions for national renewal will be possible without a backbone of telecoms tech that can meet the needs of burgeoning new industries like AI and data centres, and turbocharge existing enterprises too". A significant chunk of the funding is earmarked for three future communications research hubs, tasked with pioneering next-gen technology. The universities of Oxford, Cambridge, Bristol and Imperial College are set to spearhead various projects. Dr Kedar Pandya, executive director of strategy at UKRI's engineering and physical sciences research council, underscored the pivotal role of telecoms in propelling future tech advancements. "Transformative technologies, such as AI and quantum, will accelerate many aspects of our lives", he noted. "But to maximise their benefits, we must ensure our communications systems are able to connect efficiently, safely, and securely." The government has hinted that this initial tranche of funding forms part of a broader strategy to construct secure and resilient telecoms infrastructure.

Teesside tech firm to expand with multimillion-pound investment

Teesside tech specialist Salesfire is set to enhance its platform with AI technology and create new jobs, following a £2.75m investment. The Middlesbrough-based firm, established in 2017, aids clients such as Hamleys, Moss Bros, Select fashion, Sportsshoes.com and Trespass in boosting sales via their ecommerce sites, with its software now used by over 700 brands. The company has secured an additional £2.75m from NPIF II – Mercia Equity Finance, managed by Mercia Ventures as part of the Northern Powerhouse Investment Fund II. The funding will be used to integrate the latest AI-powered technology into its platform and generate more than 10 new jobs within the next two years. Salesfire's software creates a profile for each visitor to a company's website, using behavioural cues to comprehend their interests and shopping habits. This allows retailers to personalise the customer experience, guide shoppers through the purchasing process, and re-engage with them to foster relationships. The firm is developing new AI technology that will provide deeper insights into customer behaviour, such as identifying anonymous individuals with different user accounts. Founder Rich Himsworth believes this will be particularly beneficial once existing tracking tools like cookies are phased out. Mr Himsworth, who previously worked in software and marketing, founded Salesfire seven years ago and has since grown the company to employ 65 staff, generating £3m in annual recurring revenue. Following initial backing from Mercia and NPIF in 2022, the latest funding round brings the total investment to over £5m. Mr Himsworth stated: "Salesfire's mission is to help retailers grow their e-commerce sites and drive revenue. Our new Salesfire AI technology will be revolutionary in giving them scope to identify more anonymous site traffic and opening up a whole new world of marketing and data opportunities. We are pleased to have the continued support of our investors in this latest round and really excited to be at the forefront of AI in e-commerce." Chris McCourt of Mercia Ventures said: "Salesfire stands out from competitors by offering the type of sophisticated features normally only available in more costly products. Its new AI technology will make the platform even more powerful and initial trials have shown it can further increase sales. This Investment will enable the business to accelerate its development and further differentiate itself in the market." The funding comes from NPIF II – Mercia Equity Finance, which provides equity investments in the Yorkshire and Humber regions. The Northern Powerhouse Investment Fund II (NPIF II), valued at £660m, spans the entire North and offers loans ranging from £25,000 to £2m, as well as equity investments up to £5m.

Fastest-growing tech companies in South West named by Sunday Times

A Bristol-based defence engineering firm has been named the fastest-growing technology company in the South West. Rowden Technologies placed first regionally on the Sunday Times 100 Tech list. The league table ranks Britain’s fastest-growing private technology businesses, shining a spotlight on the entrepreneurs and teams driving their success. It is a sister ranking to The Sunday Times 100, a ranking of the UK's fastest-growing private companies. To qualify, businesses must be independent, privately owned and headquartered in the UK. Rowden Technologies was established in Bristol in 2016 by a former Army corporal to help the government become less reliant on multinational defence contractors. The business uses cloud computing, artificial intelligence, and edge computing, which is computing done at or near the source of the data, to enable the armed forces to do their jobs more effectively. Its founder, Rob Harper, 37, is a former military communication systems engineer, who grew the company's sales of £20.4m last year. The second-fastest growing firm in the South West is online marketplace OnBuy, which is based in Bournemouth. The company, also set up in 2016, has a platform that is home to thousands of retailers, ranging from small independents to retail giants such as Sports Direct, selling more than 40 million products. In 2023, OnBuy was named Europe’s fastest-growing e-commerce business. Devon-based direct mail platform Stannp was ranked in third place on the South West list for growth. Jim Armitage, business editor of The Sunday Times, said: "The government has pledged to kickstart economic growth in 2025. The Sunday Times 100 Tech shows that Britain’s technology entrepreneurs are already making progress, creating high-value jobs and delivering cutting-edge goods and services. "These businesses are proof that Britain remains a powerhouse for innovation. The rapid development of AI represents one of the biggest economic opportunities since the internet. We have seen the government embrace AI this week, but we still need the right support structures put in place to help the entrepreneurs who are harnessing AI to thrive." The research for The Sunday Times 100 Tech found that collectively the 100 companies on the national list generated sales of £3.2bn, up by £2.6bn in the last three years. In total, the companies employ 20,700 people, having created 11,200 new jobs in the last three years. Of those ranked, 82 said they were planning to make additional hires in the next 12 months, with 4,200 jobs planned in total. Nearly a fifth (17) of the businesses are founded or led by women and three-fifths (61) were founded in the last decade. Like this story? Why not sign up to get all the latest business news straight to your inbox Regional rank Company name Description HQ location Annual sales growth over 3 years Latest sales £m 1 Rowden Technologies Defence technology engineer Bristol 95.03% £20.4m* 2 OnBuy Digital marketplace Bournemouth 80.76% £14.4m† 3 Stannp Direct mail platform Barnstaple, Devon 75.70% £19.3m* 4 Dynisma Automotive simulator Bristol 79.40% £12.1m* 5 Beam Subsea technology Bristol 42.17% £19.6m 6 Spectrum Medical Medical device developer Gloucester 26.88%

Uber-backed AI startup that could rival Tesla takes on Europe's largest car market

UK-based artificial intelligence (AI) startup Wayve, known for its work on autonomous vehicle systems, has unveiled plans to expedite its global expansion by establishing a new hub in Stuttgart, Germany. The firm, which enjoys the backing of tech behemoths Uber and Softbank, is currently trialling its AI-driven self-driving technology in Germany and the US, with an eye on forging partnerships with various car manufacturers, as reported by City AM. Wayve's foray into Germany, Europe's biggest auto market, will enable the company to fine-tune its 'embodied AI' technology, with a focus on lane change assistance that mimics human driving behaviour. The Stuttgart hub will also aid in the development of advanced driver assistance system (ADAS) features and automated driving capabilities. Alex Kendall, co-founder and CEO of Wayve, hailed Germany as the "perfect place" to fast-track AI-powered driving technology, lauding the country's automotive expertise. "I look forward to partnering with Germany's world-leading manufacturers and tier one suppliers to bring safe, scalable and production ready AI software to vehicles worldwide", he stated. The new location will provide Wayve with access to top-notch engineering talent and regulatory support for its vehicle testing. This announcement comes on the heels of a significant $1bn funding round spearheaded by Softbank, with contributions from tech giants Microsoft and Nvidia, making it one of Europe's largest investments. Wayve also added Uber to its roster of investors last August, amid surging interest in an AI-centric approach to autonomous driving. Launched in 2017, Wayve stands out as a front-runner among Europe's autonomous vehicle manufacturers. The company is in direct competition with American heavyweights such as Tesla and Alphabet's Waymo, not to mention rivals in China like BYD. Setting itself apart from Waymo's pricey, sensor-laden tactic, Wayve opts for a cost-effective, camera-based AI technology that progressively learns from hands-on driving experience. The firm has made inroads into the US market by setting up shop in Silicon Valley and deploying test drives of its fleet in San Francisco. Ambitious expansion plans are on the horizon with a Vancouver office set to open doors. CEO Alex Kendall teased further worldwide expansion ambitions, earmarking 2025 as the "year of global expansion" and hinting at an interest in making inroads into the Japanese market. The landscape of autonomous driving tech is changing at breakneck speed, with milestone breakthroughs and shifts occurring hand-in-hand. While Waymo advances its robotaxi services, General Motors shut down its robotic vehicle division 'Cruise' owing to significant financial losses.

County Durham tagging tech firm PervasID seals £3.25m funding round

A County Durham firm pioneering work in tagging technology has sealed a £3.25m investment round. PervasID, a leading innovator in RFID (Radio Frequency Identification) tech, was launched as a Cambridge University spin-out 13 years ago, but launched a second base at NETPark in Sedgefield earlier this year to tap into the skills and expertise within the region’s growing tech cluster. The business was launched by Dr Sabesan Sithamparanathan and a number of colleagues from Cambridge, spinning out from the university’s engineering department after getting attention from the retail, security and logistics sectors with its cutting-edge real-time location tracking system. The basis for RFID tracking has been around since World War Two but, until recently, it only worked within a couple of metres of a tag with accuracy of around 80%, whereas the PervasID Track Master can deliver near 100% accuracy at a range of up to 20m. Now PervasID has secured £3.25m in a funding round led by Parkwalk Advisors, which includes investment from two Maven-managed regional funds: a £375,000 investment from the Finance Durham Fund established by Durham County Council and overseen by Business Durham, and a £375,000 investment from the Northern Powerhouse Investment Fund II (NPIF II), supported by the British Business Bank. The deal will help fund PervasID’s team at NETPark to expand its customer base, following increasing demand from large customers in retail and aerospace. The investment will also support further R&D to enhance its software products offering in data analytics to complement its world-leading hardware solutions. Peter Oram, CEO of PervasID, said: “We are delighted to close out this first phase of our investment round with the support of Parkwalk and Maven. Maven is joining us at what is a very exciting time in our journey as we head towards a new chapter. The growth we have seen in recent years is a testament to our market-leading innovation and we can’t wait to use this investment to take the business to the next level.” Sarah Slaven, managing director of Business Durham said: “We are delighted to support PervasID’s journey through the Finance Durham fund, strengthening their position within the thriving technology cluster at NETPark. Their decision to expand from Cambridge last year reflects the benefits of NETPark’s collaborative environment and highly skilled workforce, which offer a strong foundation for pioneering companies like PervasID. We look forward to seeing them succeed as part of NETPark’s innovative community, helping to drive economic growth and foster cutting-edge developments in County Durham.” Rebecca MacDermid, investment manager at Maven said: “PervasID’s passive RFID tracking technology is world-leading in terms of accuracy over range, and we are excited to work with industry experts Pete and Sabesan as they navigate a business that is on the cusp of rapid growth, with some exciting customers lined up across a range of sectors.”

Bernard Looney breaks silence since BP exit as he takes on new role with AI start-up

Nearly 18 months after his controversial exit from oil giant BP, former chief executive Bernard Looney has been appointed chairman of ExpertAI, a sustainability-focused AI startup based in London. The company is geared towards helping small and medium-sized businesses (SMBs) lower emissions by facilitating easier access to local green suppliers and subsidies, as reported by City AM. Following the "serious misconduct" incident that led to his dismissal from BP for not disclosing past relationships with colleagues, Looney will now work alongside Dr Anand Verma, chief executive of ExpertAI, to propel the firm's UK growth. This role marks Looney's second venture into the AI industry since leaving BP; he joined Prometeus Hyperscale's board in the US last November. His move into sustainable technology is a pointed deviation from BP's recent direction. Just last week, BP yielded to Elliott Management's activist investor pressure to abandon renewable energy projects in favour of increasing oil and gas output, mirroring similar pullbacks from climate commitments by Shell and Equinor. On Tuesday, Looney highlighted ExpertAI's mission in a statement, saying: "It helps them grasp opportunities to grow their business and cut costs, all while reducing emissions. Exactly what they need, now more than ever." He elaborated: "The energy transition must make economic sense if it is to succeed. This applies to businesses making investment decisions, shareholders directing capital, and customers choosing where to spend their money." "That's why I said yes when Dr. Anand Verma-ExpectAI's Founder and CEO-asked me to take on the role of Chairman. ExpectAI's mission is clear: Higher Profits, Lower Emissions." ExpectAI's Founder and CEO, Dr Anand Verma, expressed his enthusiasm: "We are thrilled to welcome Bernard as our Chairman. His deep global expertise and commitment to innovation align perfectly with our goals." Dr Verma further remarked, “Bernard and I share a common vision: using AI to help the world's 330m SMBs scale profitably and sustainably. ”. He also critiqued current approaches, saying, “Climate solutions today are broken. At ExpectAI, we reject the false binary between mission and profitability.

Newcastle lab grown leather specialist BSF secures £50,000 funding to begin manufacturing

Biotech group BSF Enterprise has secured a £50,000 grant that it will use to begin small scale manufacturing of its lab grown leather products. Newcastle University spin-out 3D Bio-Tissues Ltd (3DBT), which is part of the group, has been awarded the sum by Northern Accelerator, a growth support programme that is a collaboration between Durham, Newcastle and Northumbria universities along with the Centre for Process Innovation (CPI). It says the funding will be instrumental in moving the product from the laboratory to small scale production and commercialisation, by paying for external resources. Bosses say the awarding of the grant recognises 3DBT's tissue engineering technology and its potential to be a disruptor in the global leather market. The firm has been working with French fashion brand Maison Amelie Pichard, providing material for the label's handbags and showing it can meet key environmental and ethical challenges in the market. The grant money will be used to conduct market research to spot high-growth opportunities and identify revenue streams in key sectors including fashion automotive. A "technology roadmap" will be created to set out the steps needed towards a growable manufacturing process, including addressing technical risks, and will provide a plan for developing a pilot factory - a move which 3DBT says will be a pivotal milestone in moving from innovation to commercial scalability. The grant is just the latest in a string of funding awards for London Stock Exchange-listed BSF Enterprise, which also owns Kerato, Lab-Grown Leather Ltd and a Hong Kong subsidiary. Earlier this month the group raised £500,000 in an oversubscribed share placing which it said would give it an operational cash runway of more than 12 months to help execute its plans. Dr Che Connon, CEO and founder of 3DBT, said: "This grant award is a pivotal moment for 3DBT. It enables us to accelerate the commercialisation of our lab-grown leather technology and underscores the growing recognition of its transformative potential. With this support, we are well-positioned to deliver a sustainable and scalable alternative to traditional leather." 3DBT says its technology is uniquely positioned to meet demand in the global leather market which was valued at $32.26bn in 2022 and is expected to grow to $47.89bn by 2031.

'Flying taxi' firm to use AI in bid to speed up aircraft testing

A Bristol company that is developing an all-electric 'flying taxi' has struck a deal that will see it use artificial intelligence to speed up the testing of its aircraft. Vertical Aerospace, which was established by Ovo Energy founder Stephen Fitzpatrick in 2015, will work with AI software provider Monolith to improve the performance of its VX4 vertical take-off and landing (eVTOL) aircraft and accelerate its time to market. The South West-based firm will use AI for new design insights and more efficient test plans in less time, it said. The first project will focus on testing and simulation of the VX4’s supporting pylon structures for ground tests of the propeller and electric motor structural and performance requirements. "Flight and ground tests for eVTOL are incredibly complex, expensive, and time-consuming, typically requiring engineers to spend hundreds of hours validating simulations across tens of thousands of parameters and operating conditions," a spokesperson for Vertical Aerospace explained. London-based Monolith has a proven track record in aerospace engineering following recent projects with Airbus and BAE Systems on aircraft and drones. Dr. Richard Ahlfeld, chief executive and founder of Monolith, said: “Urban air mobility has the potential to revolutionise how we travel, and one of the most promising contributors to this transformation is Vertical’sVX4. "With Monolith, Vertical will model complex systems faster and accelerate test campaigns, enabling the company to learn more about design performance while reducing development and testing time.” David King, chief engineer of Vertical Aerospace, added: "Transforming how the world moves requires constant innovation. Collaborating with Monolith allows us to harness cutting-edge AI technology to streamline our testing processes, enabling us to focus on the most impactful areas and accelerate the VX4’s journey to market."

Vianet celebrates contract with major blue chip brewer in the UK

Drinks and vending tech provider Vianet has landed a significant contract win with major brewer in the UK. The Stockton-based firm says the agreement with the unnamed, blue chip customer will see it supply its Beverage Metrics draught beer monitoring technology across the country. It will provide performance insights into the customers draught brands. Vianet will begin installations of the tech in this financial quarter and continue phased delivery throughout the rest of the year. The move is expected to grow the group's UK installation footprint by about 5% in the next 18 months, and support Vianet's expansion further into the hospitality sector beyond the leased and tenanted market. The contract follows Vianet's acquisition of US-based Beverage Metrics in 2023. The addition of the Denver company, in a deal worth up to £4.5m, has helped Vianet bolster its "one stop drinks management solution" that can reduce costs, improve productivity and maximise sales. Announcing the contract to investors on the London Stock Exchange, Vianet bosses said it was a strong validation of its tech and strengthened its relationship with The Oxford Partnership - a market intelligence consultancy working with major brewers, who helped Vianet secure the work. The firm said it would help it attract interest from other potential clients. James Dickson, chair and CEO of Vianet, said: "This new agreement represents a strong strategic validation of our investment in Beverage Metrics and the value of our partnership approach. These collaborations are unlocking exciting commercial opportunities within the hospitality sector and beyond, combining our technological capabilities and the Oxford Partnership's analytics and AI expertise. "The phased rollout of our Beverage Metrics solution with a leading global brewer further highlights the innovation and impact of our technology, as it empowers customers to optimize performance and navigate challenging trading conditions effectively. Combined with the encouraging progress we are making in the USA and the recent long-term contract extensions with Heineken's Star Pubs & Bars and Greene King, this milestone underscores the growing recognition of our solutions and their ability to deliver tangible value by helping customers achieve more with less."

Leeds AI specialist The Data City seals £2m investment to ramp up growth plans

A Leeds artificial intelligence data business is ramping up growth on the back of its biggest investment to date. The Data City said it will accelerate plans to launch a new global industrial classification system, after securing £2m investment from Oxford Economics. The deal follows a record year of growth for the Leeds AI specialist, having created 10 new senior roles to boost the tech firm’s headcount from 20 to 30. The company, formed in 2017, secured funding of £350,000 two years ago from venture capitalist firm Venturian, valuing the firm at £10m, and this latest strategic investment almost doubles the value of The Data City to £19m. The investment will be used to boost The Data City’s global data infrastructure, expand its services for UK-based multinational clients, and fund the initial market development for its US joint venture with leading global economic advisory firm Oxford Economics. It will also provide working capital to support the company’s rapid growth. The global product represents the first time company data from the US and the rest of the world will combine with the company’s classification AI and proprietary RTICs - all available on one platform. Alex Craven, CEO of The Data City, said: “Securing this investment rounds off a remarkable period of sustained growth. Oxford Economics shares our vision and ambition of global strategic expansion, which enables us to strengthen our workforce, massively upscale our technological capabilities, and accelerate our global customer acquisition. “Central to our growth strategy is our innovative global data platform, which provides unparalleled access to insights from millions of companies across the United States and Europe. This extensive platform is underpinned by comprehensive global financial company information, offering our client users a robust foundation for informed decision-making and risk assessment in an increasingly interconnected business landscape. “We have been focused on our drive towards elevating our existing data platform to a global audience, enabling decision makers to benefit from a real-time, AI-driven understanding of the world’s industries, so to achieve this is a major milestone in becoming a global data as a service company.”

AI bra fitting startup Brarista wins £510k funding to ‘transform’ lingerie and swimwear shopping

A tech startup using AI to help women shop for bras and swimwear has won £510,000 in growth funding. Manchester’s Brarista was founded in 2019 by Vietnamese entrepreneur Bella Trang Ngo, who wanted to “democratise the traditional bra fitting experience”. She spent four years developing her product, working with top lingerie experts and using data from customers. Brarista uses machine learning algorithms and proprietary Vision AI to offer personalised bra size recommendations and product suggestions, based on individual body types. Bella says research has shown that up to 80% of women wear the wrong bra size. That costs customers money and also means many products end up going to landfill rather than being returned. Brarista aims to help reduce waste and make sure customers are more satisfied with their purchases. The company is currently running paid pilot programs with selected retailers in the UK and EU including Lemonade Dolls, Evenly and Monsera. The funding round was led by GC Angels and also includes a grant from Innovate UK alongside private investment. Bella says she wants to use the cash to grow partnerships with retailers, to grow her team and further develop Brarista to include new products including maternity bras, swimwear and post-surgery lingerie. She said: “Our goal is to democratise the traditional bra-fitting experience, making it accessible and personalised for everyone. "The funding from GC Angels will help us to grow Brarista and reduce the £10 billion annual cost of lingerie returns that take place due to poor fit. "With the support of Ranvir and the GC Angels team, we’re looking to expand into new product categories, empower consumers and have a real impact in the lingerie and fashion markets.” Ranvir Singh, investment manager at GC Angels, said: “We’re really excited to support Bella and Brarista - it is a truly innovative solution that combines AI with the kind of expertise that is seldom available on the high street today. "It is going to completely transform the industry by addressing fit-related issues that have long-plagued both customers and retailers alike. With our investment, we are confident that Brarista will scale quickly and have a significant impact both in the UK and globally.”

Sage earnings climb as cloud uptake grows and AI assistant rolled out

Revenue and profits have jumped at accounting software maker Sage driven by more uptake of its cloud-based products. The Tyneside-based giant, which sells across the world, published results for the year to the end of September showing statutory revenue grew 7% to £2.332bn and statutory operating profits rocketed 43% to £452m. Investors were shown that annualised recurring revenue increased 11% to £2.339bn and underlying operating profit was boosted 21% to £529m. The FTSE100 firm also announced a £400m share buyback programme which it said reflected strong cash generation, a robust financial position and the board's confidence in its future prospects. In a separate update, Sage said the programme would start immediately and run no later than June 3, 2025. Within the results, growth was said to have come from all regions, led by North America which saw a 12% rise in underlying total revenue to £1.05bn. Speaking to BusinessLive post results, CEO Steve Hare said that Donald Trump's election in the US might provide a short term boost to Sage's small and mid-sized customers there who are focussed on the domestic market. Growth over the Atlantic was followed by UK, Ireland, Africa and APAC with an 8% rise to £670m, and then Europe with 6% growth to £610m. Bosses highlighted revenue growth across the firm's Sage Cloud Business products, which increased 16% to £1.87bn, including cloud native revenue growth of 23% to £732m. Renewal rate by value reached 101%, which Sage said reflected strong retention rates and a healthy level of sales to existing customers. Meanwhile, the firm's generative AI-powered desktop assistant, Sage Copilot, was rolled out to more customers with much of the development work having been done by the firm's Tyneside-based engineers. The assistant, which is designed to handle administrative and repetitive tasks and also make operational recommendations for business owners, is currently available to more than 8,000 UK customers of Sage Accounting, Sage for Accountants and Sage Active. The AI tech is designed to give Sage customers an "extra pair of hands" which Mr Hare says will be attractive to productivity hungry businesses. It will be monetised via a premium service and incrementally rolled out to more Sage customers in due course. Mr Hare said of the results: "Sage has delivered another successful year, achieving strong, broad-based revenue growth together with significantly higher profits and cash flows. We also invested further in our products and continued to execute well against our strategic priorities. Our high pace of innovation continues, as we enhance existing products and expand key cloud solutions throughout our markets.

The world's first AI-exclusive university in Abu Dhabi and its global impact

Over the past twelve months, artificial intelligence (AI) discussions have become omnipresent; it's challenging to spend even a brief period without AI featuring in conversation. This surge in interest has been driven by innovations like ChatGPT, which have democratized access to AI capabilities beyond tech experts. Against this backdrop of fervent adoption, cybersecurity company Darktrace anticipates considerable growth poised for the financial year 2024, with projected revenues of $689.5m (£548.71m), as reported by City AM. Moreover, there's now a university dedicated solely to AI—the Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) in Abu Dhabi—established and licensed in March 2020, has enrolled 365 students from 45 different nations. Abu Dhabi's emergence as the site for this institution is not accidental. The United Arab Emirates (UAE) aims to cement itself as an AI global heavyweight, intending, as Telecom Review notes, to channel investments of approximately AED335 bn (£72.6bn) into the sector by 2031. The situation starkly contrasts with that in the UK where the strategy appears less ambitious. Although August saw the government earmark £32m to support 98 domestic AI projects, this came on the heels of a cancelled endeavour to build a £1.3bn supercomputer—a decision slammed by 4J Studios' Chairman Chris van der Kuyl as "idiotic" and likely to trigger a technology brain drain to the US. MBZUAI proudly stands as the first graduate-level university with a dedicated focus on artificial intelligence, offering advanced Master of Science (MSc) and PhD programmes across pivotal domains such as computer science, computer vision, machine learning, natural language processing, and robotics. Targeted at an international student body, MBZUAI is built on the promise of enabling students to delve into innovative AI research alongside top-tier experts in astonishingly equipped facilities. The university caters to experience-rich fields like healthcare, education, and energy sectors through its offerings. With its Incubation and Entrepreneurship Centre (MIEC), MBZUAI aims to transform student concepts into startup ventures, fostering a seamless transition from scholarly research to practical application.

Tessl, a London-based AI firm, hits a $750 million valuation just nine months post-launch

British AI start-up Tessl has achieved an impressive $750m valuation merely nine months after its inception, signalling its intent to transform the way computer programmers develop software. The company, headquartered in London and established in February, secured a substantial $100 million in its Series A funding round, led by Index Ventures. The funding cohort also includes notable investors such as Accel Partners, GV, and boldstart, as reported by City AM. This follows a previously undisclosed seed investment of $25 million in April, with GV, previously known as Google Ventures, amongst the participating entities. Entrepreneur Guy Podjarny, who previously held the CTO position at cloud services company Akamai the acquirer of his first enterprise, Blaze. io, in 2012 founded Tessl. Podjarny is also noted for founding cybersecurity specialist Snyk. io back in 2015. Tessl, which plans its market debut in early 2025, is looking to speed up and democratise the software development process utilising sophisticated AI models. With a current headcount of 21, the firm has developed two test iterations of its coding assistant. The waitlist for this tool was launched this Thursday. "We're creating a new paradigm where humans express what they want to build, and AI handles the implementation," remarked CEO Podjarny regarding the forward-thinking vision of the company. Tessl envisages channeling the fresh capital into platform enhancement and expanding its team, particularly in research, engineering, and design expertise. While the company withheld its valuation, this milestone reflects a burgeoning demand for artificial intelligence technology, highlighting it as a cornerstone in the government's renewed push to elevate Britain's standing in the global tech scene. The UK's reputation as a top destination for tech and AI investment has been reinforced by this latest deal, according to Science Secretary Peter Kyle, who commented on Thursday: "The UK is one of the best places to invest in tech and AI as shown by this latest announcement,". He added: "Last month we announced more than £6bn of international backing for data centres to boost our AI capacity, and today we're seeing investors going faster and further to support brilliant British AI expertise."

Microsoft and Pearson to tackle AI skills gap as UK launches new action plan

Microsoft and Pearson, the London-listed education behemoth, have unveiled a long-term partnership aimed at bridging the global skills gap in artificial intelligence (AI), as the UK prioritises AI. This alliance will merge Microsoft’s cloud and AI technologies with Pearson’s expertise in learning and assessment to deliver AI tools. It will also provide customised learning and certifications for workers and businesses, including those in the UK. The announcement coincides with the UK's recent unveiling of its AI Opportunities Action plan, which aims to place AI at the heart of the UK’s economic growth strategy, as reported by City AM. Keir Starmer disclosed on Monday that the government will concentrate on enhancing access to AI education and providing workers with the necessary skills to support the action plan. Judson Althoff, Microsoft’s chief commercial officer, stated: "The speed and scale of AI innovation present a unique opportunity for organisations to transform, but this requires workers who are equipped with the right skills. " He added, "This partnership will empower employees to advance their careers while helping businesses unlock AI’s potential." While this is a global agreement, Pearson, a FTSE 100 company, currently employs around 3,000 people in the UK, where the Microsoft 365 Copilot will also be utilised. Coursera, one of the world's largest learning platforms, recently published a Job Skills report highlighting the global surge in demand for AI skills. Data has shown a staggering 866 per cent year-on-year increase in global AI course enrolments, with 'Google AI Essentials' being the most popular course among British learners, accounting for 4.2 million of the site's students. The data also indicated that generative AI was the fastest growing skill in 2024, with courses on tools such as ChatGPT ranking highly in popularity. Science and Technology Secretary Peter Kyle stated: "AI is transforming industries and creating new opportunities." He added: "By ensuring that everyone, from students to small businesses, has access to the tools and training they need, we can make Britain a leader in this technology." Despite the government's recent efforts in its AI plan, industry leaders have cautioned that more needs to be done to ready the workforce for the integration of AI into our economy. Dr Raoul-Gabriel Urma of Cambridge Spark argued that AI literacy should extend beyond large corporations and elite institutions.

Mid Wales DNA tech testing firm boosted with equity investment

A Powys start-up pioneering DNA testing technology as easy to use as a smartphone has secured a six-figure equity investment to support its commercialisation plans. Amped PCR is developing PurifAI which it says revolutionises how industries detect harmful pathogens. It has secured a £350,000 investment from the Development Bank of Wales, in a round also backed with £185,000 from London-based tech investors SFC Capital. The investment bring the PurifAI system, alongside its reagent Amped universal, to a wider market. Founder Ben Davis has more than 15 years of experience in the sector, and is committed to making DNA testing accessible and efficient across industries. Polymerase chain reaction – more commonly known as PCR – is a technique used to amplify normally small amounts of DNA to much larger quantities, allowing anyone testing or analysing DNA to boost the size of the sample available, making it easier for further analysis. Amped PCR is taking this process a step further by incorporating it into the PurifAI system, which allows DNA testing to move from specialised labs to real-world environments like food production sites or environmental monitoring facilities. The PurifAI system is designed to address critical challenges such as high-profile food recalls and the growing need for effective environmental and water testing in the fight against harmful pathogens and antimicrobial resistance. By enabling on-site detection of pathogens like salmonella, listeria and campylobacter, PurifAI allows food producers, environmental agencies and other stakeholders to respond rapidly and proactively, reducing risks and safeguarding public health. Mr Davis said: “We want to improve the user experience so that using this technology feels as intuitive as using a smartphone. Pretty much everyone has a smartphone these days and the technology underpinning them is very sophisticated, but the end user in most cases does not need to know how that all works - it just works. PurifAI is about putting cutting-edge testing power directly into the hands of users, wherever they are and whatever their DNA question may be.” Co-founder Aysha Shah said: “My focus is on making PurifAI intuitive for non-specialist user. By prioritising accessibility and usability, we’re creating a tool that can address major global challenges while fitting seamlessly into existing workflows.” Linzi Plant, assistant investment executive in the Technology Ventures Investment team at the Development Bank of Wales, said:“It was a pleasure to work with Ben and Aysha at Amped PCR as they looked to start up and bring their reagent to a wider market. "The potential uses of their product are huge and it’s fantastic to see a small Welsh company coming up with what could be a revolutionary solution in so many fields of DNA testing.”

Klarna targets $15bn valuation with upcoming US IPO, bypassing London markets

Swedish fintech firm Klarna is reportedly seeking to raise at least $1bn (£777m) in a US initial public offering (IPO), according to sources who spoke to Bloomberg. The company's US filing, which could be submitted as early as next week, is expected to target a valuation exceeding $15bn on the New York Stock Exchange, insiders revealed, as reported by City AM. Discussions are ongoing, with the payments business aiming to price the IPO in early April, although specific details of the listing plan or timings could change, Bloomberg's sources noted. In November, Klarna submitted a confidential IPO filing with the US Securities and Exchange Commission (SEC). It is believed that the firm is working with up to 15 banks on the listing, including industry heavyweights JP Morgan, Goldman Sachs and Morgan Stanley. A US listing would represent another setback for the struggling London Stock Exchange (LSE). Last year saw 88 companies depart the LSE, including tech star Darktrace and Paddy Power-owner Flutter, while only 18 firms joined through new listings. These figures, initially reported by the Financial Times, represent the most significant net outflow of firms from the market since the financial crisis in 2009. Despite this, Klarna maintains a strong UK presence, boasting over 18m customers and 31,000 merchants, which had previously sparked hopes of a high-profile London IPO. The decision by the company could raise concerns about the future of its fintech peers Monzo and Revolut, with the CEO of the latter stating in December that the UK market cannot compete with the US in its current state. Klarna provides a buy now, pay later service, enabling consumers to divide purchases into interest-free payments or ones they can opt to pay over time. The firm's valuations have fluctuated in recent years, with a 2021 funding round propelling the company to a valuation of $45.6bn (£35.4bn), but falling in the subsequent round to $6.7bn (£5.2bn). Several major retailers support Klarna payments, including Argos, Currys, JD Sports and, since last year, Uber Eats.

Prime Minister Keir Starmer unveils 1,000 new AI jobs in Liverpool City Region with Kyndryl tech hub

Prime Minister Keir Starmer has announced 1,000 new tech jobs for Liverpool City Region as he pledged to 'relight the fires of innovation' through Artificial Intelligence (AI). The PM told BusinessLive's sister title the Liverpool Echo that American group Kyndryl, the world's leading IT infrastructure services provider is set to open a new tech hub in the Liverpool City Region, which will generate 1,000 jobs over the coming three years. Sir Keir told the Echo: "Liverpool voted for change in July. And my Labour government has been working tirelessly to deliver on that change. We're starting to reap the rewards of that hard work. "Last November I visited Runcorn to announce 2,000 jobs in the region - thanks to our £22 billion investment in Carbon Capture. Today I can announce that yet more jobs are coming as Kyndryl has committed to an extra 1,000 AI-related jobs over the next three years. He continued: "These are jobs of the future that will relight the fires of innovation across the Liverpool City Region. It means working people - from the Wirral to St Helens - will feel the change we promised. "I promised the Echo that I would turbocharge this great region, and here is the proof. Working hand in hand with Mayor Steve Rotheram, today's announcement shows how Labour in power is delivering for working people." Sir Keir's government said the new tech hub "will share the government's ambition to roll AI out across the country to help grow the economy and foster the next generation of talent." The Liverpool news comes as part of a broader government announcement, which states that AI will be 'unleashed' across the UK in an effort to "help turbocharge growth and boost living standards". The Prime Minister unveiled details of the government's AI Opportunities Action Plan today, stating that AI can "transform the lives of working people". Sir Keir added that the new technology "has the potential to speed up planning consultations to get Britain building, can help drive down admin for teachers so they can get on with teaching children, and feed AI through cameras to spot potholes and help improve roads. " The Prime Minister emphasised his government's commitment to this industry by agreeing to implement all 50 recommendations set out by Matt Clifford in his "game-changing" AI Opportunities Action Plan. The Prime Minister said: "Artificial Intelligence will drive incredible change in our country. From teachers personalising lessons, to supporting small businesses with their record-keeping, to speeding up planning applications, it has the potential to transform the lives of working people. "But the AI industry needs a government that is on their side, one that won't sit back and let opportunities slip through its fingers. And in a world of fierce competition, we cannot stand by. We must move fast and take action to win the global race. "Our plan will make Britain the world leader. It will give the industry the foundation it needs and will turbocharge the Plan for Change. That means more jobs and investment in the UK, more money in people's pockets, and transformed public services. That's the change this government is delivering." Chancellor Rachel Reeves said: "AI is a powerful tool that will help grow our economy, make our public services more efficient and open up new opportunities to help improve living standards. "This action plan is the government's modern industrial strategy in action. Attracting AI businesses to the UK, bringing in new investment, creating new jobs and turbocharging our Plan for Change. This means better living standards in every part of the United Kingdom and working people have more money in their pocket."

GlobalData reports revenue and EBITDA growth in 'transformational' 2024

GlobalData has reported a five per cent increase in revenue to £285.5m for the year ended 31 December 2024, meeting market expectations. The firm, which offers data and business intelligence solutions across various sectors, saw its earnings before interest, tax, depreciation and amortisation (EBITDA) grow by five per cent to £116.8m, with an EBITDA margin of 41 per cent, as reported by City AM. Pre-tax profit surged 32 per cent to £54.9m. Contracted forward revenue rose by 12 per cent to £171.4m as the company gained more customers and demand for data increased due to the thriving AI sector. GlobalData revealed that over 42,000 users are engaged with its AI Hub, which combines proprietary data with AI-driven insights. However, operating profit fell by 12 per cent to £65.1m due to acquisition expenses, restructuring costs, and higher share-based payments. The company also announced plans to reduce its dividend to free up more cash for mergers and acquisitions (M&A). It proposed a final dividend of 1.0p, down from 3.2p in 2023. GlobalData recognised a £412m gain following the sale of its 40 per cent stake in Healthcare business to Inflexion Private Equity Partners. The company invested £88m across four acquisitions and completed the purchase of AI Palette on 7 March 2025 for $11.5m (£8.9m). Alongside the results, GlobalData also announced plans to move to the Main Market of the London Stock Exchange. Mike Danson, Chief Executive Officer of GlobalData, remarked: "2024 was transformational for GlobalData following Inflexion's significant investment in June 2024, which strengthened our balance sheet and accelerated our growth strategy." He further added, "Strategic M&A remains a core element of our growth strategy, with four earning accretive acquisitions completed during the year, strengthening our One Platform offering." Elaborating on future prospects, he explained, "With much of the foundational work to re-organise the business and set us up for accelerated growth now completed, we enter 2025 with clear priorities and a strengthened team to deliver."

Tyneside tech firm Leighton moves to new city centre offices

North East software development company Leighton has relocated its regional headquarters to a prime office scheme in Newcastle city centre. Leighton, which specialises in building software products and optimising processes for customers, had been based at The Core at Newcastle Helix, but has now moved its head office to the 14-storey Bank House in Pilgrim Street. The company has taken space within the Cubo offices, the top two floors of the building that the flexible workspace provider opened up last year. Leighton reached a significant milestone as it celebrates the growth of its team to 100 colleagues following another year of sustained growth. The office – the first site for Cubo in the North East – gives members a 360-degree panoramic view of the city’s skyline. The company said it saw a 31% increase in revenue during its 2024 financial year and is set for another year of record performance at the end of the 2025 financial year, with projected growth in the double figures, through its work with customers including British Airways, Atom Bank, Equans, IAG Loyalty and Greggs. James Bunting, CEO at Leighton, said the relocation reinforces its commitment to maintaining headquarters in the North East while supporting its growing hybrid workforce, who will be able to take advantage of Cubo’s national network of locations. Mr Bunting said: “This transition marks a significant milestone for Leighton, as we continue to invest in an environment where our team and customers can come together to thrive, collaborate and innovate. Access to Cubo’s office network across the UK is important to us as it will ensure all of our team will have access to spaces where great work happens, and our culture comes to life. It also reflects our ongoing commitment to retaining a headquarters in the North East and supporting the growing tech sector in the region.” Last year the business made key strategic appointments, which included welcoming Lee Gilmore as principal solutions architect, and Clare Gledhill as chief consulting officer to lead on the company’s consultancy offering. Mr Gilmore added: “The tech sector in the North East is a growing hub and we’re only going to see more focus, business, and talent around what is already a thriving sector. It’s great to be working with like-minded individuals who are so invested in cultivating and growing the amazing talent already working in the region.”

Rescue buyer sought for Tyneside tech firm Zytronic as restructuring specialists appointed

Bosses at touch screen technology maker Zytronic are looking for a buyer to protect jobs, but have not ruled out the possibility of closing entirely. The Blaydon-based maker of products for the international gaming and vending markets has appointed restructuring specialists FRP Advisory having concluded a consultation about its future. It told investors on the London Stock Exchange that it will now seek a sale of the business, or a wind down of its assets leading to a solvent liquidation. Zytronic employs about 110 people at its Tyneside facility which had supplied touch-screens for a broad range of uses - from electric vehicle charging stations to casino slot machines. The firm has repeatedly warned of lacklustre trading in recent years and recently said efforts to turn around the position had "not delivered meaningful results”. In its latest update to the market, the firm said the decision to either sell or wind up the business had been "reinforced by continuing weakness in trading conditions with no material uplift in order intake". Last month, and in a bid to reduce costs, Zytronic had indicated it could de-list from the AIM stock market where its shares have been traded since 2000. The firm's share price has fallen considerably over the last two years. Most recent unaudited full year results show revenues fell from £8.6m to £7.2m in the year to the end of September - a marked disappointment for the company which had expected to see a 22% increase in revenues in the second half of the year but came to the conclusion it was unlikely to see a recovery in the short to medium term. Bosses said FRP will now run a process to maximise returns for shareholders, which might involve a sale of the group's main trading company - Zytronic Displays Ltd - as a continuing business or a sale of its underlying trade, intellectual property and assets. As part of the process, an "outcome report" will be prepared to provide an estimate of returns to shareholders. Zytronic said: "As highlighted in the Strategic Review Announcement, there can be no guarantee as to returns that may be available at this stage. A further announcement will be made in due course." Christopher Potts, chair of Zytronic said: "This decision has not been taken lightly. Whilst the board had confidence in the opportunity presented by the transformation plan, we collectively felt duty bound to present it alongside the different options available to shareholders at this important juncture for the company. Our focus will now be on ensuring a suitable buyer is found for ZDL to protect jobs in this important business based in the North of England and interested parties should contact FRP Advisory."

Investor scrutiny intensifies as Nvidia reports Q4 earnings post DeepSeek disruption

Today marks a pivotal moment for Nvidia as the tech firm is scheduled to unveil its much-anticipated fourth-quarter earnings after the US market closes, amid heightened expectations. This represents Nvidia's initial financial report since the rise of China's DeepSeek model, and investors are keenly awaiting any indicators that could suggest a shift in momentum or reaffirmation of Nvidia's stronghold during the ongoing AI surge, as reported by City AM. The emergence of DeepSeek has already sent ripples through the artificial intelligence (AI) sector, triggering the most significant single-day market capitalisation drop in Nvidia's history. In the lead-up to this crucial earnings release, Nvidia's shares have faced substantial headwinds. The semiconductor heavyweight, now valued at an immense $3.1 trillion (£2.44 trillion), has endured a 19% dip in share price since its zenith in early January. At the heart of investor concerns lies DeepSeek's open source AI model offering—the potential to run on less sophisticated chips at considerably lower costs poses a critical challenge to the demand for Nvidia's products. Nevertheless, certain analysts maintain a positive outlook; Vivek Arya from Bank of America anticipates today's earnings call "could mark the trough in investor sentiment" while setting an ambitious target price of $190 (£149.67), nearly 38% above the stock's current value. With eyes fixed on Nvidia's forthcoming financial update, its reverberations are expected to resonate beyond the company alone, potentially influencing broader market trajectories. David Morrison, a senior market analyst at Trade Union, asserts the significance of Nvidia's announcement, particularly in light of recent rumours regarding Microsoft's data centre expansion plans—rumours that Microsoft itself has denied. Susannah Streeter, who leads money and markets at Hargreaves Lansdown, acknowledged the unease investors have felt over Deepseek but maintained a positive outlook, commenting: "The arrival of low-cost Chinese model DeepSeek rattled investors but, given Nvidia's first mover advantage and the huge infrastructure investment plans from tech giants like Meta, it's an indication that Nvidia's high-end chips will remain in demand." On the flip side, Forrester senior analyst Alvin Nguyen pointed out that Deepseek offers competition, like Intel, an opportunity to stake a claim in the low-end AI infrastructure market. Nevertheless, he believes "this should not have an immediate impact on NVIDIA since demand for their GPUs exceeds their ability to supply." Looking beyond the statistics, all eyes will be on Nvidia CEO Jensen Huang as he provides direction on pivotal areas poised to influence the company's course. Projections for future revenue also stand out as an area of interest, especially after Nvidia's previously announced second-quarter sales prediction of $37.5bn (£29.54bn), which would mark an impressive 70 per cent year-over-year growth.

London-based Truelayer cuts a quarter of staff, loses unicorn status in new funding round

Truelayer, once a celebrated fintech 'unicorn', has made the drastic move of cutting approximately a quarter of its workforce in a single day. This is part of a broader strategy to reduce costs and steer towards profitability, according to City AM. The London-based company let go of 71 roles at the end of September, just a week before announcing a $50m funding round that saw its valuation take a hit, as per two individuals privy to the situation. Insiders revealed that employees were given a mere two-hour notice for a meeting where they were informed about the job cuts. The affected staff members reportedly exited the company on the same day. An internal source disclosed that around 25% of the workforce was impacted by this decision. When approached for comment, a Truelayer spokesperson chose not to delve into specifics. They instead highlighted the recent funding round as "yet another vote of confidence in our company." They further added: "At the same time, we also announced important steps to chart our path toward profitability, including streamlining operational costs and a reduction in headcount which took place in September,". The latest fundraising round saw Truelayer's valuation drop by roughly 30%, stripping it off its coveted 'unicorn' status, which it had achieved in a 2021 round with a price tag exceeding $1bn. This trend of accepting lower valuations to secure funds has been observed among several major European fintechs over the past couple of years, as they grapple with the challenge of achieving profitability to meet venture capital investors' expectations. Francesco Simoneschi, CEO of the open banking firm Truelayer, expressed to City AM in June that the "funding environment is way tighter than it used to be". In an October LinkedIn update, he disclosed the company had undergone restructuring and decreased its workforce to enhance its financial position. Founded in 2016, Truelayer provides payment solutions via open banking technology for clientele such as Revolut, Coinbase, and Shopify. The enterprise boasts investment from entities such as Tiger Global in New York and leading fintech enterprise Stripe. The latest redundancies follow a fluctuating pattern of recruitment and turnover at the financial technology firm over the last three years. Truelayer's annual reports detail a reduction in headcount to an average of 346 per month in 2023, down from 434 in 2022 the same year the company dismissed 10% of its workforce. This downsizing was subsequent to a period of aggressive hiring that nearly doubled the workforce from 231 in 2021. The push to streamline costs reflects a broader change in the sector away from a 'growth at all costs' approach that reached its zenith in 2021. During that time, historically low interest rates led investors to funnel capital into unprofitable start-ups that promised to reconfigure the fintech landscape. Despite Truelayer managing to lessen its operating losses last year, they still amounted to £54.1m, with administrative expenses of £61.9m eclipsing the tripling of revenue and doubling of payment volumes. Simoneschi has previously articulated that Truelayer's vision as an "infrastructure business" necessitates considerable expenditure in order to establish a widespread network for open banking adoption across the UK. The technology has the potential to facilitate payments directly between bank accounts, circumventing card networks that are predominantly controlled by Visa and Mastercard. TrueLayer is part of a group of British open banking fintechs positioning themselves as challengers to this duopoly.

23andMe, supported by Richard Branson, announces major layoffs and strategy shift following data breach

23andMe, the genetic testing firm backed by Richard Branson's VG Acquisition Corp, has announced plans to lay off 200 employees in an effort to regain stability following a significant business slowdown over the past year. The company, which is cutting 40 per cent of its workforce, aims to recover from financial and operational difficulties triggered by a data breach and falling stock value, which led to a 70 per cent drop in share price to 4.67p over the last year, as reported by City AM. In addition, the firm will halt development on its therapeutic branch, opting instead to concentrate on its primary customer genetic-testing services and partnerships. The restructuring is expected to cost 23andMe around $12m (£9.4m) in severance pay, but could result in annual savings of up to $35m (£27m). The company faced challenges in December of the previous year when hackers accessed the personal data of approximately seven million users, stealing sensitive patient information. However, 23andMe maintains that the DNA data was not accessed. Hackers exploited previously leaked email and password credentials from other sites to gain access to the company's accounts and data. The UK's Information Commissioner's Office stated that the nature of the firm "makes public trust in these services essential". 23andMe faced a significant hurdle when seven out of eight board members stepped down in September, expressing discontent following buyout proposals from CEO Anne Wojcicki.

Sky accuses Amazon of failing to prevent piracy on Fire Sticks amid 'organised crime'

Sky has levelled accusations at Amazon, claiming the tech giant isn't doing enough to curb the piracy of its sports rights through "jailbroken" Fire Sticks. Sky's Group Chief Operating Officer, Nick Herm, stated that illicit viewing of its subscription content, which encompasses Premier League football, Formula 1 and boxing, is costing "hundreds of millions of dollars", with "about half" being accessed via manipulated Amazon Fire Sticks, as reported by City AM. "People will know you can get jailbroken Fire Sticks and you can access pirated services on them," he informed the FT Business of Football Summit. "There are football fans who literally have shirts printed with 'dodgy boxes and fire sticks' on them." "In addition to telcos, some of the tech giants – Amazon in particular – we do not get enough engagement to address some of those problems where people are buying these devices in bulk, they're breaking them and sideloading pirated apps on them – and people are just buying them. "It's essentially organised crime. We work closely with the police. The sums are huge. It's a battle and you need a lot of people to lean in to solve it." Sky's business strategy has long relied on subscribers to its live sport and its readiness to outbid competitors has helped maintain English football's coveted rights bubble. It secured four of the five packages available for the next round of domestic rights to the Premier League, which totalled £6.7bn and covers the period from 2025 to 2029. Piracy poses a significant threat to the value of sports streaming, with Dazn's global head of rights, Tom Burrows, describing it as "almost a crisis". Herm echoed these sentiments, stating: "It's a problem in all of our markets and we dedicate a lot of time to trying to defeat it. It's a never ending battle because there's always new technology and forms that emerge that you need to stay across." Quantifying the issue is challenging, as Herm explained: "It's always difficult to put an exact number on it because if you ask people if they pirate or not they're not always going to be honest with you. When you do analysis there's plenty of evidence to show that it is sizeable." The potential financial impact is staggering, with Herm adding: "How many of those people would convert to a legitimate service if piracy was no longer available? I don't know, but we're talking hundreds of millions of dollars – it's very substantial." When asked about the extent of piracy accessed via modified Amazon Fire Sticks, he revealed: "It's a big percentage – probably about half of the piracy." He warned that users often mistakenly believe they are using a legitimate service, even providing their credit card details to criminal gangs. In response to these concerns, Amazon stated its commitment to "committed to providing customers with a high-quality streaming experience while actively promoting a streaming landscape that respects intellectual property rights and encourages the responsible consumption of content."

Tyneside tech firm Notify Technology raises £1.5m investment

A Tyneside safety tech business is set to tap into new AI features on the back of a £1.5m investment boost. Notify Technology was launched in in 2017 by Duncan Davies and Andy Dumbell to help businesses to digitally record information through a platform designed to improve health and safety at work. Its platform allows clients to document everything from accidents and near misses to complete audits, inspections and risk assessments, and to manage safety documents and analyse safety data from one central location. Now the firm, whose clients include McDonalds, Siemens and the NHS, has raised a further £1.5m from Calculus Capital, the North East Venture Fund supported by the European Regional Development Fund and managed by Mercia Ventures, and private investors. Notify Technology will use the funding to boost its platform with the addition of new AI-powered features and to accelerate its sales and marketing operations. The platform has been adopted by high-profile names including Wickes, Travis Perkins and Menzies Distribution and has over 250,000 users worldwide. Notify now employs 27 staff and recently moved into new offices in Newcastle city centre and over the past 18 months it has increased annual recurring revenue by 47%. The latest funding round brings the total it has raised to date to over £7m. Duncan Davies, co-founder and CEO, said: “Notify has become the challenger brand in Safety Tech through our approach to service and innovation, delivered by a fantastic team. I’m delighted we’ve been able to raise additional capital from long term investors to support our latest innovations and to continue our growth trajectory. Thousands of organisations are recognising the value of looking after the health, safety and wellbeing of their workforce, and Notify is now perfectly placed to deliver software that drives employee engagement and productivity.” Richard Moore, co-head of Investments at Calculus said: “We are excited to support Notify as it continues to develop its customer led Health and Safety software. We have seen the health safety and wellbeing sector become increasingly important to organisations and Notify is at the forefront of innovation in this space. We are pleased to be able to support the Company in its mission to make a billion workers safer, healthier and more productive.” Natalia Blagburn of Mercia Ventures added: “With businesses facing tighter regulations and rising insurance claims, Notify’s platform helps them manage risks. Incorporating AI will make it even more powerful - transforming safety management from a reactive to a proactive process, and helping businesses prevent accidents rather than just respond to them.”

2025 predictions for Apple, Amazon, Meta, Tesla and other tech titans - what to expect

The 'Magnificent Seven' tech giants, namely Apple, Nvidia, Microsoft, Amazon, Alphabet, Meta and Tesla, saw a combined growth of 63 per cent in 2024, building on the strong performance of 2023. Deutsche Bank disclosed that these companies generated more profit in 2024 than most national stock markets, as reported by City AM. However, JP Morgan has predicted a decline in their contribution to S&P 500 earnings growth from 75 to 33 per cent in the coming year, indicating potential challenges. Will they maintain their market dominance this year? Here's an analysis of their prospects for 2025: Apple, a much-loved brand, reported robust sales in 2024, with its privacy features and ecosystem retaining customer loyalty. However, service growth fell short of expectations, and innovation in hardware seemed subdued. Susannah Streeter, Head of Money and Markets at Hargreaves Lansdown, suggests that the company's focus on AI could steer it in a new direction in 2025. Despite a five per cent cumulative revenue growth over the past three years, the consensus is for seven per cent growth in 2025, keeping expectations high. However, its stock has only risen 41 per cent over the past three years, underperforming the 51 per cent increase in the information technology index. Microsoft, meanwhile, cemented its place at the heart of the AI revolution in 2024, with Azure revenue up by 34 per cent, as per Streeter. The integration of AI tools like Copilot across its software suite has impressed analysts. In the forthcoming year, cloud computing competition and increased regulatory scrutiny could challenge its growth trajectory, yet the discontinuation of Windows 10 support might trigger an upgrade cycle, according to Dan Niles, founder of AlphaOne Capital Partners. He recently expressed on LinkedIn that the termination of Windows 10 "could also lead to some upgrades in their core PC business while a ramp in AI PC demand is a hope for some point in the future". Amazon's Cloud AWS remained a key growth driver in 2024, with a 19 per cent revenue increase as global AI adoption soared. E-commerce margins saw a rebound following the company's cost-reduction strategies. Streeter noted, "margins have recovered after the huge cost-saving drive with worldwide layoffs." Amazon may emerge as the top performer for 2025, having surpassed both revenue and margin expectations in the latest quarter. However, Nile pointed out the potential for a challenging start to 2025 due to uncertain consumer spending patterns, fewer shopping days, and less favourably timed holidays. For Meta, the tech behemoth's strategic downsizing yielded positive results in 2024, evidenced by a five per cent increase in daily active users. Its investment in AI has improved ad targeting and content curation, bolstering advertiser trust. Yet, the question remains whether Meta can maintain its growth momentum into 2025 without the previous year's tailwinds from political elections or major events like the Olympics, which had contributed to heightened user engagement. "If its revenue doesn’t keep up", warned Streeter, "margins may come under pressure, deterring its investors". Alphabet, the parent company of Google, also posted strong results in 2024, driven by its cloud business and AI advancements. However, the ongoing case by the US Department of Justice against Google’s search monopoly casts a shadow over the firm’s 2025 outlook. Sundar Pichai, the Chief Executive, highlighted the importance of utilising AI to accelerate progress and solve real-world problems. The company made headlines towards the end of 2024, as Pichai prepared his employees for an important, "pivotal" year ahead, while also alerting them to potential challenges. Tesla begins to lose momentum. Tesla experienced a surge of optimism in 2024, with its stock increasing by 63 per cent, partially due to Elon Musk’s advisory role in the Trump administration. However, a decrease in EV demand and the potential loss of tax credits in 2025 could impact the company’s sales. Therefore, Tesla's ability to scale production of its affordable electric vehicles and expand self-driving capabilities will be crucial for 2025. Nvidia was largely the leader of the Magnificent Seven group in 2024, overtaking Apple as the world’s most valuable company with its shares rising by 171 per cent amid surging AI demand. Despite taking a slight hit at the end of 2024, according to Investopedia, the firm’s sales and earnings flourished. Moreover, Nvidia's Blackwell super chip and dominance in AI infrastructure are positioned for continued growth in 2025.

Car rental tech venture Finalrentals accelerating global growth

Car rental tech venture Finalrentals is looking to accelerate its global growth plans following a six-figure equity investment. The Cardiff-based firm, with provides a customer tech platform for car rental businesses globally, has closed a pre-Series A investment round. Its brings it total fundraising to over £1m following its first round in 2022. The latest round was backed by E100 London Business School Angel Syndicate, leading angel investors from both London and the United States, as well as existing backers Since its last funding round, Finalrentals has tripled its revenue, achieving a 300% year-over-year increase, and expanded into over 30 international markets. The company has also grown its global partner network to include more than 500 car rental providers. With this new investment, Finalrentals aims to surpass the £1.1m annual net revenue mark while increasing its global team by 40% to support further expansion. Founder and chief executive Ammar Akhtar said: “This funding is a testament to the strength of our vision and execution. With the backing of our investors, we are poised to redefine the car rental experience, empowering local rental companies with cutting-edge technology, automation, and seamless global reach. We will use this funding wisely and will work towards growth only growth." Finalrentals plans to use the funds to enhance its AI-driven automation, accelerate product development, and expand its international footprint, targeting key markets in Europe, the Middle East, and North America. The car rental sector is worth $100bn globally with Finalrentals well positioned as a key disruptor, bridging the gap between local rental businesses and global travellers through its innovative tech platform. It comes as it has expanded into the lucrative UAE marketplace in a partnership with car rental provider Autorent. The UAE’s car rental industry has experienced significant growth in recent years, driven by an increase in tourism and a growing demand for flexible mobility solutions. Mr Akhtar said; “This partnership will revolutionise the car rental sector in the UAE, providing a seamless and technology-driven experience for customers.”

Apple faces UK class action trial over alleged excessive App Store fees

Apple is bracing itself for a legal battle on Monday, marking the first instance of a major tech company in the UK answering to a class action lawsuit over accusations of imposing "excessive and unlawful" charges through its App Store. The claim, seeking up to £1.5 billion in damages, was initiated in 2021 at the Competition Appeal Tribunal on behalf of approximately 20 million Apple users, as reported by City AM. Critics argue that Apple has effectively stifled competition by obligating customers to use its proprietary payment processing service, levying a 30 percent commission on app store transactions and charging developers additional fees for in-app purchases. This approach, the plaintiffs assert, allows Apple to reap "unlawfully excessive levels of profit". Brought forth by law firm Hausfeld on behalf of Dr Rachael Kent of King’s College London, serving as the class representative, the lawsuit suggests 19.6 million UK consumers could qualify for compensation. While Apple has dismissed the action as "meritless", it has expressed eagerness to present its steadfast dedication to consumer welfare and the positive impact of the App Store on the UK’s innovation sector to the court. A preliminary session was convened in September to deliberate upon the relationship between this lawsuit and another similar case, Dr Sean Ennis v Apple. In November, the Tribunal decided that these proceedings would proceed as usual, separate from the Ennis proceedings, which will be managed independently. Apple is the first Big Tech company to face trial under the UK collective action regime.

TechWM founder to take new role as CEO appointed

A business body focused on boosting the West Midlands' tech industry has appointed a new chief executive. TechWM founder Yiannis Maos is stepping down from the role to become its new chief strategy and innovation officer, with cybersecurity expert Andy Hague taking over in April. Mr Maos will remain on the organisation's board. TechWM was launched in 2019 since when it has helped businesses raise more than £100 million and inspired thousands of people to get into the tech sector. It runs the annual Birmingham Tech Week festival every October and advises on regional tech policy, making recommendations and creating partnerships between the public, private and academic sectors. Email newsletters BusinessLive is your home for business news from across the West Midlands including Birmingham, the Black Country, Solihull, Coventry and Staffordshire. Click through here to sign up for our email newsletter and also view the broad range of other bulletins we offer including weekly sector-specific updates. We will also send out 'Breaking News' emails for any stories which must be seen right away. LinkedIn For all the latest stories, views and polls, follow our BusinessLive West Midlands LinkedIn page here. Mr Maos said: "Having hosted our sixth Birmingham Tech Week in October, the largest to date, it feels right to scale TechWM. "It's been an amazing journey, starting with a simple desire to make the tech ecosystem more accessible and evolving into a strategic force for growth. "I'm proud of our journey, from 5,000 attendees at our first Tech Week to recent recognition from giants like IBM and a visit from the Secretary of State. This fuels our ambition to reach a £100 billion tech sector by 2030. "As we transition, our focus will be strategy, innovation and preserving our agile spirit. We'll continue creating opportunities for local talent, ensuring they don't need to move to London. "This is about building a thriving, collaborative community, recognising our collective strength is key to unlocking the West Midlands' tech potential." Mr Hague is a tech entrepreneur and board member with more than 20 years of experience in leading teams. His specialties are cybersecurity and investment funding and he founded Berkshire-based cybersecurity firm Cyberfort Group. He said: "Leading TechWM became an irresistible opportunity after my recent work in industry and government. "My priority is maintaining TechWM's momentum and strategically focusing the team's immense dedication to maximise impact. "Strengthening their ‘can-do' reputation is vital for solidifying TechWM as the key player in public-private tech partnerships. "Yiannis's remarkable legacy, especially Birmingham Tech Week's national prominence, and his continued involvement were crucial to my decision in taking this role.

Yorkshire firm Veracity Trust Network wins £585,000 Singapore cyber grant

A Leeds cybersecurity company has sealed a grant with more than £580,000 to deliver new tech to help ecommerce retailers in Singapore. Veracity Trust Network has been awarded the CyberCall grant of $1m Singapore dollars – which amounts to around £585,694 – from the Cybersecurity Co-Innovation and Development Fund (CCDF). The grant, awarded by the Cyber Security Agency Singapore (CSA), will be used to develop and deliver advanced malicious bot detection in collaboration with one of world’s largest fashion retailers. Veracity was selected because of its Beyond the Edge technology, which uses real-time behavioural analysis to detect and block complex bots. Veracity’s data shows that around 30% of all website visits are malicious bots looking to do harm. The grant will be used to develop and deliver the next generation of the technology, which will provide advanced malicious bot detection tailored to the ecommerce company’s operations. Nigel Bridges, group CEO at Veracity Trust Network, said the issue of malicious bots is become a growing menace, with more and more bots seeking to steal data, set up fake accounts, disrupt inventory and plant ransomware. Mr Bridges said: “The problem of malicious bots is serious and getting worse as technology advances. It’s a major issue that is growing in scale, sophistication and damage, with serious negative impact on all online organisations. In general, the eCommerce industry has been losing this particular arms race. Veracity was created to try to break the cycle and get ahead of malicious actors. This has clearly been recognised by the CSA, and we are honoured to have been selected by them.” The CCDF’s CyberCall grant encourages collaborations between cybersecurity companies and end-users while supporting the development of innovative cybersecurity solutions in Singapore. Veracity group CTO Stewart Boutcher, who has overall responsibility for the APAC region, was presented the Cybercall Innovator award by David Koh, Commissioner of Cybersecurity and chief executive of CSA. Mr Koh said: “Innovative Cybersecurity companies are vital to a thriving Cybersecurity ecosystem. My warmest congratulations to the winners of the 2023 Cybercall: all these companies are pushing the boundaries of cybersecurity innovation.”

Tyneside firm ships educational robots to Miami after hard-won order

A Tyneside start-up that creates robots that introduce children to programming from an early age has shipped some of its products to Miami. Roamer Robotics creates screen-free, modular robots that feature a keypad for programming them to perform different manoeuvres. The units have a voice and sound and can be instructed to play music and come with a range of jackets that can transform them into a dog, a car or a spider. The technology was invented by engineer Dave Catlin who has produced a number of research papers on the topic. Mike Carter, CEO of Roamer Robotics, set up the company in 2022 to carry on what he called the floor robot tradition in education. Now the firm has sent a number of its products to the US following a major order. Roamer robots have been sent to Miami, Florida for use by Miami-Dade County Schools to be used within the state's floor robots training programme. The deal follows Roamer's recent work with neighbouring Swift Electronics Ltd - a provider of printed circuit boards that has premises on Saltmeadows Road in Gateshead. Swift supplied circuit boards for the robots and programmed them to follow commands and assembled them before shipment. Mike Carter, Roamer Robotics CEO, said: "It has been a hard-fought battle to gain the order for the training, having to navigate the complex logistical issues around exporting abroad and especially to the United States of America. I'm delighted that through the support of our logistics partner InXpress in Gateshead we've been able to fulfil this exciting order. I strongly believe that once each teacher becomes confident in using the floor robot, they will want more." Swift Electronics Ltd, managing director, Jonathan Sloane added: "It has been an absolute pleasure supporting Mike and the team at Roamer. It’s great to see another Gateshead company doing well and we wish them a fantastic 2025."

AI startups have captured a quarter of UK VC funding in 2024

In 2024, AI startups in the UK secured a staggering 25% of all venture capital funding, amassing $15.9bn (£12.8bn), which marks a significant increase from $3.1bn (£2.5bn) just four years prior. According to the latest figures from Balderton Capital, 2024 was the second-best year for AI investment in the UK on record. The sector's valuation has soared, more than doubling to $236.9bn (£191bn) during this period. The venture capital firm also identified 20 AI unicorns within the UK, such as Wayve, Exscientia, and Oxford Nanopore Technologies, accounting for 11% of all UK unicorns, as reported by City AM. Despite these impressive numbers, the UK and Europe still trail behind the US in terms of investment growth. European AI startups garnered 25% of all European VC funding in 2024, totalling $13.6bn (£10.9bn), reflecting a 15% increase over the past four years. Balderton Capital's data shows that the collective value of European AI startups doubled in four years to $508 billion, now representing nearly 15% of the tech sector's total value, up from 12% three years ago. However, James Wise, general partner at Balderton Capital, pointed out that these results challenge the "relatively negative narrative" surrounding Europe in the AI field. He highlighted the potential for substantial fundraising in Europe, stating: "You can raise hundreds of millions (euros), even billions as a very early-stage AI company if you’ve got a breakthrough technology in Europe, just as you can in the US." The US continues to lead in AI funding, with deeptech startups securing 33% of the country's early-stage venture capital in 2024, as per Atomico’s report. The European tech sector, meanwhile, is grappling with talent retention issues, having seen 492 tech workers migrate to the US in 2023, lured by attractive salaries at top firms like Google, Amazon, and Microsoft. On a brighter note, Europe's AI investment isn't solely internal; US companies are increasingly scouting the continent for talent and opportunities, with European entrepreneurs behind about 10% of US startups. Yet, Europe still relies heavily on non-domestic funding, highlighting its dependency on external investment. Despite this, the AI sector holds promise for Europe and the UK, with industry experts maintaining a positive outlook on its future prospects. Susannah Streeter, Hargreaves Lansdown’s head of money and markets, has called AI "The most exciting and fast-moving sector" and anticipates 2025 to be a "pivotal" year for its expansion.

X-ray tech firm Silveray secures £4m seed funding led by Northern Gritstone

X-ray technology company Silveray has secured a £4m investment led by Northern Gritstone ahead of its first product launch next year. The Stockport business has developed a sensitive flexible material that converts x-rays into digital x-ray images at the point of use. It says the technology can save time and money compared with traditional radiographic film. Now science and tech-focused investment vehicle Northern Gritstone, which is chaired by Lord Jim O’Neill, has unveiled a £4m seed extension investment into Silveray. The investment consortium welcomes deep tech investors Empirical Ventures, Deeptech Labs, and Hamamatsu Ventures alongside existing backers Northern Gritstone and ACF Investors. The funding will allow Silveray to complete development of its first Digital X-ray Film (DXF) product ready to launch in 2025. The company was founded at the University of Surrey in 2018 by Professor Ravi Silva and relocated to Greater Manchester in 2022 “to gain access to the North of England’s rich talent pool and resources”. The business has worked with X-ray specialists at the University of Manchester on its technology. Dan Cathie CEO of Silveray said: “Silveray’s initial goal is to digitise radiographic film, so that radiographers are no longer restricted to exposing, developing, viewing, and storing film. Early customer engagement in industrial means we are confident of becoming revenue generating in 2025 and Northern Gritstone’s investment will help us achieve that.” Duncan Johnson, CEO of Northern Gritstone, said: “The progress made by the Silveray team since our initial investment in 2023 has been phenomenal. Dan Cathie and his team have the enviable combination of innovation and entrepreneurialism having developed a novel digital x-ray solution with numerous applications which are already disrupting the analogue x-ray market. We are delighted to continue our support of Silveray as it builds its commercial traction, helping the team on its path to success.” Katsuhiro Kobayashi, CEO of Hamamatsu Ventures Japan said “Silveray’s novel nanoparticle-based direct X-ray conversion material could completely disrupt x-ray imaging markets. We look forward to our strategic collaboration with Silveray and sharing our industry expertise to accelerate their growth.”

UK space industry hailed for proving 'the sky isn't the limit' by securing £80m in contracts

Science Secretary Peter Kyle has lauded the recent accomplishments of the UK space sector, describing the UK as a "launchpad for innovation and investment." The industry secured £80m more in contracts from the European Space Agency (ESA) than government contributions in late 2024, marking the highest return for any ESA member state, as reported by City AM. This achievement is expected to contribute over £1bn to the UK economy and create 3,800 high-skilled jobs, positioning Britain as a global leader in space innovation. Kyle emphasised that the sector's ability to attract top contracts is fuelling economic growth and advancing the government's 'Plan for Change.' "These figures show not only incredible results of a government working hand in glove with industry to get even more bang for our buck, but also send a clear message to the private sector across the globe: when it comes to space, science and tech, the UK is a launchpad for innovation and investment," Kyle added. Recent ESA victories include missions in space weather forecasting, lunar exploration, and satellite launches, all of which have UK firms leading their cutting-edge technology. The global space sector is forecasted to triple to £1.4 trillion within the next decade, and the UK is positioning itself as a key player in the market. With 16 per cent of the UK's GDP reliant on satellite services, the government is ensuring Britain remains competitive. Dr Paul Bate, the UK Space Agency's chief executive, stated: "The reduction in the deficit is down to the efforts of the UK space sector. This result demonstrated the UK's competitiveness in securing industrial contracts."

Opinion: How the North West's unique start-up strengths are boosting its tech scene

Manchester is the most exciting place to start a tech business in the UK right now according to Capital Enterprise’s latest poll of decision-makers in the sector. In recent years, both public and private sector organisations have taken steps to create an environment that helps businesses start and scale, and this momentum is being felt right across the North West – pushing across to Liverpool, Lancaster and further afield. We’re used to businesses citing low costs of set up as a reason for starting in the North West. But we’re increasingly seeing founders achieve success through key drivers that aren’t just cost. Importantly, our tech talent is developing fast. At the same time as our roster of universities continues to create a robust early hire pipeline, there’s been a huge boost to the creation of tech leaders in Manchester. So, as skills are built at the senior levels, they’re also recycled back into the ecosystem. This is also true for exited founders turned angels. We’re seeing more North West founders exit and reinvest their capital back into younger regional start-ups. Crucially, this capital is coming with operator experience and established sector networks alongside it. This circular flow is also starting to increase the diversity in our angel networks. The North’s angel networks now span a far wider range of backgrounds than we’ve seen in previous years. And top universities don’t just produce talent in terms of the individuals that graduate, spin-outs also have a big role to play in a thriving local tech scene. Take CareLoop for instance, a University of Manchester health tech spin-out that we recently supported to raise a £1.8 million funding round. Combining two of the region’s top strengths, technology and life sciences, the platform offers digital support to patients struggling with mental illness. It’s important to highlight that homegrown tech talent doesn’t thrive on its own – the application of sector expertise is facilitated by the ongoing evolution of skills in supporting roles like people, marketing, finance and sales. While slightly more difficult to put your finger on, working with founders every day at Praetura Ventures, makes you acutely aware of Manchester’s (and the North West’s) industrious spirit and ability to seek out innovation. A close-knit regional founder ecosystem means that founders push each other to keep raising the bar, benefitting from their proximity to other innovative businesses. Perhaps it’s a scrappy, Northern start-up mentality, but ultimately, players in the community genuinely want to see their peers succeed and readily offer them support and insight to give them a leg-up. Finally, the benefits of a progressive and supportive public sector cannot be ignored. Whether it’s funding or business support, there are a significant number of organisations who share the same mission of helping the North West reach its full potential. At Praetura, we’re proud to manage the NPIFII – Equity North West fund for the British Business Bank and the GMC Life Sciences Fund By Praetura for Bruntwood SciTech, GMCA & Enterprise Cheshire & Warrington. These funds are focused on fuelling growth for our most promising businesses, allowing them to benefit from collaborative public sector funders who are willing to put patient capital into the startup economy, precisely because they understand its power. All of these factors are what makes an ecosystem exactly right, complementing each other to create an environment that encourages growth. The task now is seizing on the momentum and cementing the North West’s place as the place to start and scale a tech business.

BT wins £1.3bn 'overcharging' class action

BT has emerged victorious in a £1.3 billion class action lawsuit after allegations that it "disproportionately overcharged" its landline customers were dismissed. The Competition Appeal Tribunal (CAT) announced today that the claim against BT was unsuccessful, concluding that "overall" the prices charged "were not unfair, and therefore there was no abuse of dominant position." The legal challenge was initiated by Mishcon de Reya, representing over three million customers, with consumer advocate Justin Le Patourel acting as the claimants' representative, as reported by City AM. The claim accused BT of levying excessive prices for "standalone" fixed voice services, particularly affecting older clientele, suggesting an abuse of market dominance, but the Tribunal found otherwise. Proceedings were certified in October 2021, prompting an appeal from BT. This landmark case was the first to test the CAT’s approach to certifying collective proceedings on an opt-out basis. Despite BT's appeal against certification being rejected by the Court of Appeal, the trial proceeded in January and concluded at the end of March. Beyond its implications for the involved parties, this case holds considerable significance for the legal industry, marking the first trial since the collective proceedings regime was established in 2015.

Global focus on Liverpool's video game sector as industry talks diversity and success

Making the Northern games industry more diverse could help it to more global success – that was the message from one of a series of events this week aimed at growing the thriving video games industry. Liverpool City Region has a long heritage in video games and hosts many companies in the sector today supporting thousands of jobs. But the industry does face skills challenges. Last year, metro mayor Steve Rotheram and the Combined Authority’s Careers Hub launched the GameChangers scheme to promote local talent. On Thursday, Liverpool hosted the Develop North conference to showcase its video games sector to the world. The keynote was delivered by the leadership team from the city's Wushu Studios. On Friday morning, GameChangers Liverpool City Region will hold an event at FACT aimed at tackling what the organisation calls a “skills crisis”, as companies find it hard to hire for technical roles and as educational providers battle to keep up with the sector’s ever-changing technology. GameChangers says the industry must invest in local talent “to grow a local cohort of candidates that are properly equipped for a modern games industry”. On Wednesday, Liverpool Game-Dev Network teamed up with #RaiseTheGame, an industry-wide equality, diversity & inclusion (EDI) project, to host panel debates on the future of the sector – including a discussion about authenticity and diversity in the workplace. The event was organised by Marek Smagala, founder of Liverpool Game Dev Network, and Dominic Shaw, who facilitates and runs the #RaiseTheFame initiatives with Ukie. Alison Lacy, co-chair of Liverpool GameChangers, said some in the games industry historically felt they should focus on money or art rather than thinking about diversity. But she said that making an effort to reach diverse audiences would bring those rewards, by ensuring that games could reach far wider global audiences. She said: “Diversity will bring lots of money. And it will bring fantastic art. That’s the great thing about it.” Alison also talked about how industry leaders should avoid the temptation to hire people just like them – “don’t ask personal questions to find people who share the same hobbies as you". Louise Andrew, head of art at d3t Ltd added that different people bring different strengths – and said successful companies could “celebrate differences” in their workforce while allowing people to be themselves at work. Chloe Sinclair, engagement manager at Climax Studios and a specialist in equality, diversity & inclusivity (EDI) initiatives, said the industry needed to continue to “build up voices that aren’t at the table.” One area where she said companies could be more accessible is in recruitment – for example being clear about definitions of “remote” work The event also talked about the importance of authenticity in the workplace, and about being honest leaders to help ensure staff could reach their full potential. Both Chloe and Liz Prince, business manager at games recruitment specialists Amiqus, and said leaders should lean into their strengths, acknowledge where they need to develop their skills, and and hire people to fill those gaps. Liz said a happy team “will benefit you commercially, enormously”. Another panel session at the event focused on the indie gaming experience in the North West – discussing issues including fundraising. It was hosted by Hannah Wright from Recruitment Heroes with panellists including Jonathan Holmes, CEO and founder at Milky Tea Studios and Alex Moretti, CEO at Fallen Planet Studios.

Bristol bionic arm firm secures funding to open clinics in US

A Bristol prosthetics manufacturer that makes bionic arms for people with limb differences is set to accelerate its expansion overseas after securing £600,000. Open Bionics was founded by Joel Gibbard and Samantha Payne a decade ago and has developed a 'Hero Arm' - a 3D-printed bionic arm with multi-grip functionality that is now available in more than 800 locations in the US, UK, Europe, Australia and New Zealand. The arm has moveable fingers and thumbs that enable below-elbow amputees to pinch and grasp objects. It makes everyday activities like holding a bag or brushing teeth possible for people with upper limb differences. The assistive technology is controlled by special sensors that are activated by muscles in the forearm and are custom-made for the wearer. Open Bionics will use the loan from NatWest to open six more clinics in the US. It will also use the finance to accelerate its expansion into Germany, Austria and Switzerland, it said. Ms Payne said: “We’re really excited to use this funding to supercharge growth in the USA and make it much easier for our patients to access specialist care within their state by visiting their Open Bionics clinic.” Open Bionics, which won the European Healthcare Innovator Award last month in Germany, has also created a 3D-printed partial hand prosthesis called the 'Hero Gauntlet' and a waterproof sports arm called the 'Hero Flex'. The company has manufactured robotic arms for children as young as five in the style of their favourite superheroes. The NHS has made the Hero Arm, Hero Flex, and the Hero Gauntlet devices available to every patient across England, Wales, and Scotland that meets their policy criteria. Open Bionics secured the funding using its intellectual property as collateral. NatWest is currently the only bank in the UK to accept IP as collateral on loans. Using valuations provided by the IP valuation firm Inngot, the lender is enabling scale-ups which lack tangible assets to use their intellectual property to secure finance. Martin Brassell, chief executive of Inngot, said: “Open Bionics’ Hero Arms may catch the eye because of the ‘superhero’ covers they feature, but it’s the tech underneath them that really transforms lives."

Not just 'shiny tech bits' – how AI could power Liverpool and its businesses to global success

We’re moving from AI hype to reality, tech leaders say – and a global event in Liverpool today heard how the city region can become a leader in AI technology that’s changing the world for the better. The city region’s first-ever AI summit brought together leaders in AI, one of the fastest-growing and most high-profile sectors in the global economy. Speakers included the UK boss of global tech giant IBM, who said Liverpool City Region was “well set to become a leader in responsible AI”. And the summit also heard from North West entrepreneurs – one of whom told BusinessLive that his firm had recently hit a key regulatory milestone that should allow it to start working in the USA. Metro Mayor Steve Rotheram said Liverpool city region needed to stay ahead of the technological curve to make sure it was ready for all future innovations and inventions. He said the summit was “about showing the world what the Liverpool City Region is all about: innovation with heart, technology with purpose and a vision of progress that leaves no one behind". And he said: “Artificial intelligence is a perfect example of this. Not the fancy algorithms - or shiny tech bit - but because, with the right guardrails in place, it can empower us to solve real problems, improve people’s lives, and build a fairer, more equitable society.” The Metro Mayor hailed the success of recent AI projects, such as Alder Hey Children’s Hospital using AI to help doctors diagnose illnesses faster, and the success of the UK’s most powerful industrial supercomputer in Daresbury at supporting innovative tech firms. He said: “Collaboration is key to all of this. That’s what makes this region special. The Liverpool City Region has a knack for punching above its weight. It’s in our DNA. When I was growing up, this was a region known for its resilience and creativity. “We didn’t just follow trends; we set them. Today, we’re taking that same spirit into the digital age. But leadership comes with responsibility. “As AI develops, we need to make sure it reflects our values of fairness, inclusivity, and sustainability. AI should empower people, not replace them. It should build trust, not breed suspicion. And it should create opportunities for everyone. “Together, we will use those ideas to cement the Liverpool City Region as a global leader in ethical, impactful artificial intelligence.” Dr Nicola Hodson, chief executive at IBM UK and Ireland, said she was proud to be in Liverpool as a Widnes native who studied at the University of Liverpool. She said: “This region’s tech sector is booming.” And she added: “There’s a real buzz here which is very exciting to see.” She explained how IBM’s AI experts had worked in fields including healthcare, where AI tech has helped speed up analysis and diagnostics to help patients get treated more quickly. She said this was an “incredibly exciting time in the UK tech industry”. And she added: “Tech is moving faster than it ever has but slower than it ever will, and we cannot afford to be passengers. “ Dr Hodson called this “one of the most transformational periods in human history” and added: “There is little doubt we are already in the age of AI.” She said: “It is clear we’re moving from AI hype to AI reality”, and that AI is augmenting – not replacing – human intelligence." She added that: “With the right governance and guardrails AI can enhance innovation and creativity." Dr Hodson said that according to McKinsey, AI could add $4.4 trillion of value annually to global GDP by 2030. And she said UK government research showed the UK’s own AI industry is expected to grow to £800 billion by 2035. She added that the city region “is well set to become a leader in responsible AI". Dr Hodson ended her speech by saying there were five key questions that people needed to ask when implementing AI to ensure it had the right guardrails and governance in place – including securing and organising data. One of the exhibitors was Antony Shimmin, co-founder of software company MyCardium AI. The Liverpool business, originally spun out of University College London, is using AI to analyse heart scans, bringing faster results for doctors and patients. Antony and his co-founders, Professor James Moon, Professor Charlotte Manisty and Professor Mark Westwood, have been working to get their technology cleared for use around the world. Mr Shimmin said from the stage that the company had now got the crucial FDA clearance it needed to operate in the USA. He later told BusinessLive: “It’s a huge milestone. It demonstrates our commitment to excellence and compliance. So our software has been clinically and technically reviewed, and the AI has been reviewed. to ensure that this does bring about the benefits that we say it does. “So it's huge for the business, allows us to sell into the States and deliver this to frontline clinicians to improve patient care and clinical outcomes.” The company, which is also working to secure UK and EU clearance, has grown organically from its base at The Spine in Liverpool’s Paddington Village, and today employs 24 people and 52 contractors. Mr Shimmin explained that MyCardium’s technology aims to “deliver more precise measurements of heart function to improve clinical decision-making and better inform patients of their conditions". It uses AI to compare and measure scans more quickly that humans could. He added: “We're much more precise than a human ruler, much faster than a human ruler. And that leads to real change in clinical outcomes and decision making.” Other summit speakers included Erika Lewis, chief executive at the national innovation accelerator Connected Places Catapult, who said her organisation had set up a base at The Spine to support local businesses. Meanwhile Northern Agenda editor Rob Parsons hosted a debate on using AI for good, with panelists including Dr Iain Buchan from the University of Liverpool.

North East life sciences experiencing a wave of optimism - but there are challenges to overcome

Life sciences has long been touted as one of the North East’s most promising sectors. One which supports 15,000 jobs, is a major exporter and contributes £2.7bn to the economy each year. And new research points to growing optimism among the region’s 450 companies which include precision medicine specialists, pharmaceutical manufacturers and research and development companies, among other disciplines. A joint report from Teesside-based The Centre for Process Innovation and Newcastle-based Square One Law - the first of what is intended to be an annual snapshot - honed in on 30 firms. It found that nearly 75% think 2025 will bring better financial performance, with strategic shifts towards private sector sales in place of reliance on the NHS; clinical successes and the filing of patents, and scalability of services among the factors cited as confidence boosters. Attention is increasingly focussed across the Atlantic where North East firms - many of them SMEs - see opportunity in the lucrative US market. Perhaps unsurprisingly, the report does not mention the current unreliability of the US as a trading partner. President Donald Trump has proposed the US will slap a 25% tariff on pharmaceuticals starting in April and rising substantially through the year. That more drastic measure supersedes earlier thoughts that ‘reciprocal tariffs’ to VAT could be introduced. The British Chambers of Commerce say that even the latter would “upend established trade norms” and create cost and complexity for British firms. Notwithstanding those uncertainties, the report’s authors say the North East should help its companies build bridges with US healthcare systems including hospitals and others with direct access to the market stateside. Among its suggestions are trade missions from the region and programmes to help North East firms meet stringent US Food and Drug Administration requirements. Access to capital was also noted among the challenges faced by the sector with only 3% of firms reporting success with private funding - though 9% said they had success with public funding. Unnamed SME pharma respondents talked of difficulties in getting venture capital funding and seeing overseas competitors making progress while UK investors plumped for “safer” bets. Sam Whitehouse leads Newcastle-based LightOx, a cancer treatment innovator which has developed a light-activated gel that is a type of chemotherapy for early stage oral cancers. Last year, his firm secured £1.5m including from Newcastle’s Northstar Ventures and the GMC Life Sciences Fund which is designed to support firms setting up in Greater Manchester and surrounding area. Dr Whitehouse said: “The challenges for the region, it is sad to say, remain fairly constant. We have suffered from a lack of investment both from the private finance and from Government, with the majority of investment being in the South East and the golden triangle. There is sadly a lack of investors in the North East, and much of the finance gained by our companies comes from overseas. “This is compounded by the fact the Government also does not give certainty to the funding bodies such as Innovate UK, to work beyond a one-year period. Growth is only possible with the right nurture, and investment gives that stability to grow from. However, despite these challenges, we see more and more SMEs in the region, more jobs being created and a demand for space increasing. The technologies being developed continue to be at the cutting edge of innovation, and the value of these products continues to increase.” The reported funding challenges did not stop £100m of recent investment identified in the North East, and a further £40m spent by Organon - the £138m turnover women’s health drug maker which employs 675 at Cramlington. Lack of laboratory space also looms large as a hindrance to the growth of the sector.The report points to the success of Newcastle’s The Biosphere - home to LightOx and many others - which offers laboratory and office space, and County Durham’s NETPark which is hosts firms such as stem cell specialists Reprocell Europe and diabetic sleepmask creators PolyPhotonix. But it also talks of increasing demand for lab and cleanroom space - a national issue it says the North East is well positioned to meet with plans for similar Biosphere buildings, where Newcastle City Council is seeking an investor, and competitive overheads compared to rival areas, particularly the sector hotspots of Oxford and Cambridge. Demand is such that the North of Tyne Combined Authority, Invest Newcastle and Invest North East England commissioned a feasibility study last year to look at how existing buildings in Newcastle and the wider region could be converted and adapted to create new laboratory space. That work has reportedly turned up at least 40 sites which could be repurposed, and established a methodology that could be applied to more buildings.

Visualsoft job losses made in year of transformation following profit fall

North East ecommerce tech business Visualsoft saw profits fall by 68% in a year in which jobs losses were made as a part of a major restructuring. The firm, which has bases in Newcastle and Manchester as well as its Stockton-on-Tees head office, has published accounts for the year ending June 2024, which focus on a year of change following a restructure of its technology team. Employee numbers fell from 321 to 290 as a result of the changes, which directors said was made to streamline operations and focus resources on key strategic initiatives. Bosses said that revenues remained steady, falling from £19.8m to £19.1m ‘despite a tough economic climate and a decline in consumer spending,’ and that its gross profit margin improved slightly, despite a year of supplier price increases and wage inflation. Operating profit fell 68% from £2.2m to £705,000. During the final month of the financial year, the company formed a strategic partnership with multinational e-commerce company Shopify, which it said would expand its market, generate increased leads and boost project and recurring revenue. Service offerings were also boosted in the year, with a specific emphasis on design and creative solutions to support client growth. A report within the accounts by Ashley Wright, chief commercial officer, highlighted six months of significant change to address operational inefficiencies and redefine Visualsoft’s strategic direction. It said: “As of June 2024, the company has transitioned from a legacy technology provider to a consultative business model aligned with modern eCommerce demands. In June 2024, the decision was made to restructure the technology team which resulted in a reduction in the engineering development team in August 2024. “Leadership changes were implemented, changes in the executive and operational board, bringing greater stability and strategic direction to this area. Having made substantial progress in transforming its operations and strategy, Visualsoft is well-positioned to capitalise on market opportunities and achieve sustainable growth, ensuring a successful future in the competitive eCommerce landscape.” Following publication of the accounts, Mr Wright told BusinessLive: “The past year has been one of significant transformation for Visualsoft, as we streamlined operations, refined our strategic focus, and reinforced our position as a consultative eCommerce partner. While our financial results reflect the impact of a tough economic climate - with group revenue at £19.08m, down 4% from 2023, and profit after tax at £670,000 - our gross margin actually improved slightly to 54%, demonstrating our ability to manage costs effectively despite supplier price increases and wage inflation. “Since the year-end, we have continued to build on this momentum. Our shift to a consultative model, with a strong focus on Shopify and VSX, has allowed us to generate increased project revenue and recurring revenue streams. “Customer satisfaction has been a key focus, and our Net Promoter Score (NPS) has risen from -15 in June 2023 to +31 in June 2024, reflecting improved client relationships and service quality. “Operationally, we have strengthened our resilience, addressing infrastructure vulnerabilities and making strategic investments in predictive tools to better manage churn risk.

'Digital humans', lightsabers and 'Airbnb for EVs': Tech entrepreneurs take to the stage for Baltic Ventures accelerator day

Never mind Dragons' Den – business pitching is much more fun when it’s short, snappy, and part of a party closed by an AI-powered “digital human” DJ. Tech accelerator Baltic Ventures took over Liverpool warehouse venue Camp & Furnace for this year’s Accelerator 2024 Demo Day, where entrepreneurs from 10 companies in its annual accelerator scheme got to pitch to investors and key players in the North West tech scene. There was a party atmosphere under the multi-coloured lights, with hundreds of guests enjoying the free bar and the sweet counter handing out popcorn and Blue Riband chocolate bars. And to make sure things kept moving, each founder got just three minutes to pitch. That meant those of us lucky enough to be invited got to hear 10 focused pitches from inspirational entrepreneurs covering everything from “digital humans” to an “Airbnb for electric vehicle charging”. Opening the event, Mo Aldalou, programme director at Baltic Ventures, said he wanted to “showcase and celebrate our cohort of founders”. He thanked everyone for coming along – and joked: “There’s a whole load of other things you could be doing right now… posting on LinkedIn about your 5am cold plunges…” But there was no time for posting as the pitches came thick and fast. The first pitcher was Sam Royle, founder of influencer marketing platform SoSquared. Demand for influencer content is soaring globally, but influencer marketing can be hard to analyse and measure. Sam said: "Our platform automates the most challenging parts of influencer marketing” and said he had already helped to facilitate thousands of collaborations, working with companies including consumer goods giant Kimberly-Clark. Ana Betancourt launched her presentation with one of the most famous sounds in film history – the lightsaber sound from Star Wars. She asked: “Did you know it took hundreds of hours to get to that particular sound?” Ana co-founded sound technology firm Black Goblin, which uses AI to help speed up sound design. She said the company wants to help people “craft iconic moments through sound” - and grow their profitability. Martin Woolley told the crowd about MyOpNotes, which aims to digitise medical notes to make healthcare more efficient and more cost effective. Its system has already had trials at NHS trusts – now it is looking for more investment to grow in the UK and beyond. Dr Grace Olugbodi founded BeGenio to develop games to help children learn maths. She admitted that she had been one of the one in three children who suffered from mathematical anxiety – and so developed the Race to Infinity game, She said the game’s players were “learning without realising they were learning, while improving their maths confidence and their grades". The game has been sold into schools across the UK and Grace is now working with eight edtech companies, with BeGenio also seeing ongoing interest in Saudi Arabia. Rob Sims from Liverpool’s Sum Vivas explained his company’s mission simply: ““We produce AI-integrated digital humans”. Sum Vivas’s avatars are realistic-looking onscreen humans who can talk and answer questions just like any real-world member of staff. They include the giant DJ onscreen at the end of the event, DJ Dex. Or it could, for example, include a digital assistant in a supermarket, who shoppers can chat to to help them find the products they need. Rob said the company wanted to bring in a “new era of customer experience” using digital humans, who can allow companies to effectively automate repetitive tasks while freeing up staff for other work. And he said: “The market for digital humans is set to explode in the next few years.” Liverpool’s Emma Jarvis closed the first pitching session by talking about her app DearBump, which supports women through pregnancy. Emma says she realised there was a “huge gap" in maternity care provision, and said: “I founded DearBump because I believe we can and must do better”. Now she aims to connect 1m women to “trusted and reliable maternal health support”, and is talking to employers about how they can better support their pregnant staff. Many of us worry we spend too much time on our phones – and parents also worry about their children spending too much time online. Samson Opaleye, co-founder of ApplatchKids, launched the final pitching round by talking about his firm’s solution – an app that means children have to solve educational quizzes before they can access their entertainment apps. He said he wanted to create a world “where children learn before they play”. James Burch, co-founder of Decently, talked about how his firm developed the Melo platform to support patients with brain injuries “to build gold-standard behavioural assessments”. Maebh Reynolds, CEO and co-founder of GoPlugable, talked about her Irish start-up’s mission to connect electric vehicle drivers with public and private chargepoints, allowing people to make money from their underused charging points. She said: “think about us almost as an Airbnb for private EV charging”. Tom Reynolds, founder of EdenFiftyOne, talked about how he went from being an English teacher to launching his business aimed at using tech to “demystify English education” and improve students’ 51 key English language skills.

Kinewell Energy targets Asia-Pacific growth with revamped software products

Offshore digital tech firm Kinewell Energy has its sights on further expansion into the Asia-Pacific following backing from Innovate UK. The Tyneside-based creator of software that helps offshore wind farm developers lay out turbines and connecting cabling has translated its suite of systems into Japanese and Korean - both expanding markets in which the firm hopes to do more business. Kinewell has already enjoyed some initial success in the Asia-Pacific market, having last year launched the Kinewell Wake-Optimisation Turbine Arrangement solution - an AI-powered software for calculating the best position of offshore wind turbines - at the Global Offshore Wind Summit in Fukuoka in Japan. In South Korea, the firm has supported the early development of the 600MW Wando-Guemil offshore wind project in the Yellow Sea, helping Blue Wind Engineering to find the best location for the offshore substation and optimise the project's inter-array cable layout. This week, some of the firm's North Shields-based team have travelled to Taiwan, Japan and South Korea to meet clients and drum up further business. They will attend the APAC Wind Energy Summit in Incheon, South Korea. Founder and CEO Dr Andrew Jenkins said: “We’ve already worked with six companies in Japan and three in South Korea to deploy our SaaS optimisation tools and provide consultancy services. One of our Japanese clients has also recently renewed its subscription to continue using our KLOC inter-array cable layout optimisation solution, and the demand for our services in the market is continuing to grow. "This is why we decided to translate our software solutions into Japanese and Korean, to make it easier for clients to use our tools through their native language, and we’re thankful to Innovate UK for helping make it possible to do so. We see strong demand and growth across the whole of the Asia-Pacific region for our offshore wind design optimisation tools and the funding and support from Innovate UK will really help us to grasp the lucrative opportunities this increased demand will present.” Government support for Kinewell has come via Innovate UK, part of UK Research and Innovation (UKRI), through its Net Zero Living: User focused design competition. It allowed Kinewell to make its software solutions as easy to use as possible through user-focused design principles and work with the Design Council, as well as funding for the language translation.

Oracle smashes through UK sales milestone for first time after record-breaking year

US tech behemoth Oracle has announced UK sales exceeding £2bn for the first time, marking a profit increase of over 20%. As the third-largest technology company globally by revenue in 2023, trailing only Microsoft and Google, Oracle also sponsors the Red Bull F1 team, as reported by City AM. Recent filings with Companies House disclose that the group's UK turnover rose from £1.9bn to £2.2bn in the year ending 31 May, 2024. This latest figure extends Oracle's streak of annual turnover growth in the UK, which began in 2018 when its sales were just shy of £1.6bn. The results also indicate a surge in Oracle's pre-tax profit from £62.6m to £87.9m during the same period. The 12% increase in total UK revenue is largely attributed to heightened sales in its cloud business. Despite the rise in profits, the group's cost of sales and administrative expenses also saw an uptick over the year. During the financial year, Oracle made acquisitions including Cerner Ireland for £7.5m and Next Technic for £23,090. Despite the revenue and profit growth over the 12 months, the average number of UK-based Oracle employees fell from 2,666 to 2,529. These UK results come on the heels of Oracle's full-year results disclosure to the New York Stock Exchange.

New jobs created as Synthotech develops new Yorkshire water technology hub

New jobs are being created at a water technology hub in North Yorkshire being developed by an advanced engineering company. Synthotech, based in Harrogate, develops monitoring and leak detection technology for utility companies, tapping into robot technology to slash work times and costs. The business designs and builds advanced pipeline inspection systems and robotics to detect leaks and fix pipes. The robots can be deployed remotely for long distances, speeding up the investigation process, and its AI-capable robots are designed, developed and manufactured in the UK. Now a new technology centre is being created which will create eight jobs, after it secured £7.3m of funding to be used for water and multi-utility no-dig technologies. The centre’s development also comes as the firm releases its latest innovation, the SynthoCAM H20 – a CCTV inspection system which allows water networks to inspect drinking water pipes to make sure their pipelines and working effectively and are free of leaks, without interrupting customers’ water supply. The innovation will prove significant for Synthotech’s clients, as leakage from underground water pipelines is a big challenge to the water industry, with an estimated one fifth of all treated water being lost, adding up to nearly one trillion litres a year across the UK. Synthotech’s innovation division, Synovate, was recently awarded two contracts in Ofwat’s Water Breakthrough Challenge worth £5.8m and it will use its latest robot technology to identify and repair links from within live water mains, without the need for extensive excavations, thereby minimising interruptions to water supplies.

Sedgefield tech firm Filtronic to launch new design centre at Cambridge Science Park

Telecoms tech business Filtronic has announced plans to launch a new base in the South East. The Sedgefield-based company designs and manufactures products and sub-systems for the aerospace, defence, telecoms infrastructure and space markets from its NETPark and Leeds bases, and its has accrued a number of significant contract wins in recent months, including with Elon Musk’s SpaceX firm. Now the firm has announced it is adding a new engineering design centre at the Cambridge Science Park, which is Europe's largest centre for commercial research and development. The firm said the new location positions it in one of the UK’s most dynamic technology clusters, reinforcing Filtronic’s commitment to advancing its expertise in space and defence communications. Cambridge Science Park will give Filtronic access to a network of key industry players, research institutions, and skilled radio frequency engineering talent, allowing it to action its growth plans, it said. The park will also enable Filtronic to boost its technical capabilities, foster collaboration, and ramp up product innovation in high-frequency communications. CEO Nat Edington said it will also enhance Filtronic’s ability to support new and existing clients in the region, while giving it a base for collaborative projects aimed at pushing the boundaries of RF and mmWave technology. Mr Edington said: “Opening an office at Cambridge Science Park is a pivotal step in our growth strategy. Cambridge’s thriving ecosystem of technology and innovation is an ideal environment for Filtronic as we continue to develop resilient, high-performance solutions for demanding environments. This expansion underscores our commitment to investing in the future of UK engineering and supporting the country’s ambitions in space and defence.” Last week Filtronic told investors it hopes to share news of more contracts in the space, aerospace and defence markets having secured some smaller development contract wins in recent months. Filtronic said its manufacturing output has ramped up and quality requirements are being met following a flurry of orders under its agreement with rocket and satellite giant SpaceX.

Audioboom raises profit forecast again, projecting £2.2m amid strong ad sales

Audioboom, the podcast giant, has raised its profit expectations for the second time this year, increasing its adjusted earnings projection from a recently forecast £1.9m to £2.2m. This upgrade is attributed to an increase in revenue from the company's tech-driven ad marketplace, Showcase, which recorded a 49 per cent year-on-year revenue increase last month, as reported by City AM. Stuart Last, Audioboom's Chief Executive, stated: "Audioboom's strong performance has continued into the final quarter of the year, and we are set to deliver at least $2.8 million of adjusted EBITDA profit." He added: "With confidence in advertising demand for the remainder of our strongest quarter, I am very pleased to see a second upgrade to our adjusted EBITDA profit expectations this year." Despite this, the company's share price stands at 230p per share, marking a 17.5 per cent year-on-year decrease. The results reflect a thriving market for digital advertising, particularly within the podcast sector, which has become a hotbed for targeted ads.

Informa forecasts robust year-end results, buoyed by strategic growth in India and the Middle East

Informa, the events and digital services giant, has announced that it is on track to meet its full-year guidance, with growth fuelled by its strong presence in India and the Middle East. The FTSE 100 company anticipates hitting its already upgraded full-year guidance of over £3.5bn in revenue and £975m in adjusted operating profit, with free cash flow also expected to rise to £750m, as reported by City AM. Informa reported growth across all major regions, partly driven by a 10 per cent market expansion into India, Middle East and Africa (IMEA). In the first ten months of 2024, the firm recorded double-digit underlying revenue growth of 10.7 per cent. It highlighted a robust performance in IMEA, across rapidly expanding markets including Bahrain, Egypt, India, Saudi Arabia, Turkey and the UAE. The Americas also posted strong results, accounting for around 45 per cent of group revenue over the period. Stephen Carter, CEO of Informa, stated: "Informa continues to deliver a strong performance in 2024, with forward bookings providing momentum into 2025.He added: " He added: "This year sees us complete our four-year GAP2 programme, where our performance has demonstrated the structural growth in our chosen markets, our geographic strength in the US and IMEA in particular, and the power of our market-leading specialist B2B Brands and proprietary first party data."

Dyson to move workforce out of Bristol and scrap tech hub plans

Engineering giant Dyson is planning to move its workforce out of Bristol and is scrapping plans for a tech and research hub in the city - despite investing £100m in a new building. The company, best known for its bagless vacuum cleaners, will relocate 180 staff to its large campus in Wiltshire. It will mean all of Dyson's South West employees are based in one location. Dyson's Malmesbury base is home to the Dyson Institute, where 185 undergraduate and postgraduate engineers study while working for the company. The move comes despite a major investment by Dyson into a previously planned research and development hub in Bristol. The company, which currently rents office space on College Green, purchased and carried out a top-to-bottom refurbishment of 1 Georges Square in Finzels Reach last year. The £100m Bristol research centre, first announced in 2023, was expected to employ hundreds of extra AI and software engineers as well as the global tech firm’s commercial and e-commerce teams for Great Britain and Ireland. It is understood that Dyson staff will no longer move into the building, but will relocate to Malmesbury instead. The Finzels Reach office block, which is owned by the Dyson family, will be rented out to another employer. Although no date has been set for the relocation to Wiltshire, Business Live understands it will be in spring when the lease on Dyson's rented office expires. Staff members will be given support with the commute to Malmesbury, about 45-minutes' drive away. The news comes less than a year after Dyson announced plans to cut a third of its UK workforce as part of global restructuring. Dyson's chief executive Hanno Kirner said last year the review would ensure the business was "prepared for the future". The campus at Malmesbury was Dyson's head office until 2019 when founder Sir James Dyson moved the company's HQ from the UK to Singapore. The billionaire tycoon has long been a critic of the UK's economic policies and made the decision post-Brexit to move Dyson's headquarters closer to its manufacturing sites and supply chains. Asia also has a free trade agreement with the European Union. Last year, Sir James and his family were revealed to be the richest people in the West of England despite experiencing a fall in their wealth of £2.2bn over the year. According to the Sunday Time Rich List, Britain’s best-known inventor had a fortune of £20.8bn in 2024 - down from £23bn in 2023.

Tyneside tech firm ITC Service on acquisition trail following £7m investment deal

A Tyneside technology firm is embarking on the acquisition trail after sealing a £7m investment to fuel its growth. ITC Service, an IT managed service provider based in Hebburn, South Tyneside, was founded in 2016 by Christopher Potts and Peter Anderson and over the years it has grown to deliver outsourced IT services to more than 400 SMEs across the North East. The company is seeing growing demand for its services, which include managed IT support, cyber security, Microsoft 365 cloud services, voice, communication, consulting and digital transformation. Now ITC has secured the seven-figure sum from growth capital investor BGF in a deal which will allow it to continue to scale through a combination of organic growth and acquisitions, including complementary companies in neighbouring regions. Mr Potts, founder and director, said: “Over the last 18 years, we have built a highly successful, respected business that has developed a strong and valued client base. With the ongoing support of my co-founder Peter, I am excited to lead ITC forward, to continue to grow and support our region, to help more local businesses achieve their goals and complete a carefully executed M&A strategy. “In order to fulfil this potential, we need an investment partner that is willing to take a long-term approach to support our growth ambitions. With an excellent track record of backing exciting and dynamic businesses in the North East, we are confident BGF is the right choice and we’re delighted to have the team onboard.” The deal was led by John Healey and Christian Pollard, investors in BGF’s Newcastle team. As part of the investment, Lee Shorten will join the board as non-executive chair. BGF investor Mr Healey added: “ITC is a real success story in the North East, where it has a long-established track record of delivering exceptional client outcomes. With an appetite to accelerate growth, through a leading service offering combined with a client focused approach, ITC is well positioned to expand its footprint in the regional market.” BGF, which has funding from a number of the UK’s largest banks, was set up in 2011 and has invested £4bn in more than 600 companies. It describes itself as the most active investor in the UK and says it takes minority, non-controlling stakes with a “a patient outlook on investments”.

Newcastle firms Seriös Group and Opencast team up on £1m contract

Two Newcastle tech firms have joined forces to take on a £1m contract with the NHS Business Services Authority (NHSBSA). The businesses - both based at Byker's Hoults Yard - have partnered to provide data services to the arm's length body of the Department of Health and Social Care, providing essential business support services to the NHS. Together they will use data to provide the Newcastle-based NHSBSA with better insights into its processes. The two-year piece of work will draw on Seriös Group's expertise in data solutions and Opencast's specialism in designing and building technology solutions for the Government, healthcare and private sector. An initial phase of work will see the firms deliver a data solution architecture, data engineering, insight analysis, data warehousing, user-centred design and big data analytics. Lee Rorison, founder and CEO at Seriös Group, said: “We have built an excellent relationship with our neighbour Opencast, having already collaborated successfully on other impactful projects. We are delighted to be joining forces once again with Opencast for the NHSBSA, combining our expertise to deliver data solutions and technology that make a positive difference. Our complementary skills and shared commitment to innovation position us perfectly to drive meaningful results." Harry Armstrong, chief growth officer at Opencast, said: “We’re delighted to be working once again with the NHSBSA, which is widely respected in the sector for its strong commitment to digital change. We’re excited to be supporting it in partnership with Seriös Group, whose experience and capabilities will be vital to the success of the project. "Healthcare is a strategic priority for us, and this is exactly the sort of contract we thrive on – interesting, fulfilling work that will make access to health services easier for millions of people. NHSBSA’s ambition is for a step change as a data-driven organisation and our work will support them in that."

Manchester's Evergreen Life named UK's fastest-growing tech firm

Manchester is home to Britain’s fastest-growing tech firm, a new list has revealed. Healthcare platform and digital health services company Evergreen Life has topped the latest Sunday Times 100 Tech list, which ranks Britain’s fastest-growing private technology companies. Evergreen Life’s sales grew by an average of 554% a year over the last three years, reaching £36.1m in 2024. Over the same period it grew its headcount from 50 to 500 employees, and plans to create another 100 jobs in the next 12 months. Six of the 100 companies on the list are based in the North West. Manchester-based green energy marketplace UrbanChain is the third-fasting growing software firm in the country, seeing sales rise 334.39% to £25m over the three years. Somayeh Taheri, UrbanChain Founder CEO, said: "I remember The Times including UrbanChain in its ‘Rising stars series: the companies growing fast in the North West’ back in September 2021. "Looking at where we were then to where we are now very much symbolises the journey so far." She added: "There’s no doubt that today, as a team, we feel a real sense of pride. We have once again reached another important stage in our growth and this accolade is very much welcome." Blackpool-based banking fintech Tandem saw sales rise 104.02%to £86m, while Lancaster supply chain sensors specialist System Loco saw sales grow 85.84%to £12.7m. Oldham’s Innovative Technology, which produces cash handling equipment, saw sales soar 42.22% to £67.7m over the three years, while Rochdale’s Wireless CCTV saw annual sales grow £38.5m to 27.37%. To qualify for the Sunday Times list, companies must be independent, privately owned, and headquartered in the UK. The list defines a technology business as “one that either sells its own proprietary technology or has developed proprietary technology that is essential to delivering its products or services”. Jim Armitage, business editor of The Sunday Times, said: “The government has pledged to kickstart economic growth in 2025. The Sunday Times 100 Tech shows that Britain’s technology entrepreneurs are already making progress, creating high-value jobs and delivering cutting-edge goods and services. “These businesses are proof that Britain remains a powerhouse for innovation. The rapid development of AI represents one of the biggest economic opportunities since the internet. We have seen the government embrace AI this week, but we still need the right support structures put in place to help the entrepreneurs who are harnessing AI to thrive."

The Welsh tech firm empowering football clubs to make smart recruitment decisions

A North Wales start-up developing an AI platform to support football clubs and other sports to recruit the best player talent and make smarter operational decisions, has been boosted with a six-figure equity investment. Pelly aims to transform sports operations by offering a platform for managing talent and streamlining decision-making. It combines artificial intelligence with an intuitive user interface to help sports organisations make data-driven decisions efficiently. It unifies a range of data, such as scouting reports, injury history, performance data, t support clubs in decision making. Eight football clubs are now testing the product ahead of an expected market launch in the spring. Based at M-SParc in Anglesey, Pelly is the brainchild of co-founders Iwan Pritchard, Stephen Hickingbotham, and Tomos Owen. The trio are under the age of 25. In their first investment round, they have raised £355,000 to support commercialisation plans. The round has been equally backed by a syndicate of ten investors from the M-SParc angel network, led by Robert Williams, the Development Bank of Wales, alongside private investment. Through an M-SParc accelerator programme, the Pelly team have been mentored by communications consultant Barbara Want , M-SParc angel Shaun King , as well as receiving guidance from private investor Ian Brookes. Co-founder Mr Pritchard said: “Pelly bridges the gap between data and action. We’ve built a platform that leverages AI to turn complex data into clear, actionable insights for clubs. Our focus is empowering teams to operate with agility, integrating the data they already have, and providing tools that help them win - both on and off the pitch. “We’ve been working closely with international academic institutions to develop our prototype. Over 100 industry professionals have been consulted to date, and eight football clubs are now testing the product before going to market in the next few months. The support of our team, advisors, and investors is helping us to accelerate our growth. They’re encouraging us to work smarter whilst opening doors and providing the working capital that we need to fund our early-stage development. It’s a huge vote of confidence in us, our business model, and our potential as a young and driven team .” M-SParc’s angel network was established to back start-up and early-stage businesses in North Wales. It is focused on mentorship and networks and to date has supported over 14 businesses in the region. However, the Pelly investment (£124,000), is its first major investment. Angel investor Mr Williams said: “Our members have a wealth of finance and business experience, having started, scaled, and exited a wide range of businesses. We’ve come together as a group as we all want to see the North Wales economy prosper, and we share a commitment to helping the next generation of entrepreneurs like the team at Pelly to succeed. Indeed, this is a team of bright, young, and ambitious football professionals who know their market, and have already established Pelly as a credible presence within the industry. This funding round now gives them the platform to go to market.”

Dragons' Den success for Choppity after firm's founder dreamed of investment win

County Durham tech firm Choppity braved Dragons' Den and secured investment - and revealed the show success was revealed to them in a dream. Tech entrepreneurs Zara Paul and Aaron Morris, creators of the innovative AI-powered video editing platform Choppity, have successfully secured investment from Dragons' Den. The Durham-based company, which boasts an impressive client list featuring ITN, Autotrader, Turtle Bay, and Sonatype, made a significant impact on the TV show's investors. During their time on the programme, the entrepreneurial pair, who met at university in 2019 and are now married, offered up a 6% stake in their business, sparking interest from three Dragons. Zara, who identifies as non-binary and represented the LGBTQ+ community on the show, commended the inclusive approach of the BBC team, adding: "Knowing the inclusive values the BBC holds as an organisation, it was no surprise to me when the team was extremely accommodating around the use of my pronouns. I hope this encourages more members of the LGBTQ+ community to pursue their ambitions in business." Ultimately, they struck a deal with Peter Jones, who offered £100,000 for a 15% share, with an agreement to reduce it to 12.5% if the investment is repaid by 2025. Zara said: "It was an unforgettable moment to be in that room, presenting something we've worked so hard on. Then to receive three investment offers from some of the UK's top entrepreneurs was just incredible. The night before our pitch, I had a dream that Peter offered us a deal, so when that happened in reality, I couldn't believe it. We're very grateful to the show and the opportunity it gave us." During filming, Steven commented on how excited the pair were to be there, whereas Sara was impressed by them being a collaborative married couple. Post-filming, Choppity and Peter Jones mutually agreed not to proceed with the deal, a scenario not unusual post-filming, reports Chronicle Live. Nonetheless, the founders maintain their enthusiasm for the future post-show, as they prepare to enhance their platform with new editing functions aimed at extending its utility and appeal. Choppity serves as an automated web-based video editor targeting social media, sales, and training videos, simplifying the editing process for businesses and individual creators. Already used by prominent companies, Choppity is seen as an innovative tool in the market. The founding pair have a long history of product development together, with Zara’s background combining computer science, maths, and automation competencies, and Aaron’s expertise spanning computer science, video editing, and graphic design.

Vodafone sees revenue growth and completes share buyback amidst market challenges

Vodafone, the FTSE 100 telecoms behemoth, has announced a surge in operating profit today, maintaining its financial forecast for the year following a series of asset sales. The firm informed the market this morning that revenue for the first half of its fiscal year had increased by 1.6 per cent to €18.3bn (£15.2bn), with growth in service revenue partially offset by unfavourable foreign exchange movements, as reported by City AM. Overall, service revenue rose by 1.7 per cent to €15.1bn on a reported basis and 4.8 per cent organically. Vodafone's German division saw the most significant slowdown, with revenue falling 6.1 per cent in the second fiscal quarter. Meanwhile, revenue at Vodafone's business arm grew four per cent in the second quarter, while organic growth at its African business reached 9.7 per cent. The FTSE 100 company reported an overall operating profit of €2.4bn in the first half, up 28.3 per cent, primarily due to a €0.7bn gain from the sale of an 18 per cent stake in Indus Towers. Adjusted earnings before interest, tax, depreciation, amortisation and adjusted lease liabilities (EBITDAaL) on an organic basis rose by 3.8 per cent to €5.4bn. The company attributed this growth to service revenue growth and reduced energy costs in Europe. Vodafone reaffirmed its full-year guidance for adjusted EBITDAaL of €11bn and adjusted free cash flow of at least €2.4bn. The telecommunications behemoth announced the near completion of its second €500 million share buyback programme, having repurchased 1.2 billion shares for a total cost of €1 billion by 11 November 2024. Vodafone's CEO Margherita Della Valle remarked: "We continue to make good progress on our strategy to change Vodafone. The approval processes for our transactions in the UK and Italy are nearing conclusion. These will complete our programme to reshape the group for growth. We are also investing in Germany to strengthen our market position and taking steps to expand our B2B capabilities." Della Valle added, "As we move through this year of transition, our results in the first half have been consistent with our expectations and we are reiterating our full year guidance. We grew service revenue by 4.8 per cent and adjusted EBITDAaL by 3.8 per cent. We delivered good performances across our markets, with the exception of Germany, where we have been impacted as expected by the TV law change." She concluded with confidence, "I am confident that the actions we are taking will deliver growth for Vodafone this year and a further acceleration into FY26." In a difficult environment where competition is fierce, Richard Hunter, Head of Markets at interactive investor, has acknowledged Vodafone's initiatives towards asset disposals and cost reduction, but notes the company has significant strides to make to assure the market of its recovery trajectory. Richard Hunter commented: "For Vodafone, years of underperformance are being addressed, with a major transformation of its business well underway. Even so, turning around a super tanker is never an easy task, especially when the company is in the midst of a highly competitive arena." He further noted: "There is little to catch the eye of the bulls in this release, with the end game still some way off, and the share price has reacted accordingly. The decline adds to a drop of 4 per cent over the last year, which compares to a gain of 10.4 per cent for the wider FTSE100 and the not so steady decline the shares are down by 70 per cent over the last ten years and by 54 per cent in the last five leaves the price languishing at multi-decade lows."

Mid Wales cyber firm SudoCyber looking to scale-up on £1m equity injection

Gamified cyber-security learning platform venture, SudoCyber, has secured a seven-figure equity investment to support its growth plans. The Brecon-based firm has received a £1m investment from the £130m Investment Fund for Wales, which was launched in November 2023 by the economic development bank of the UK Government, the British Business Bank. The £50m equity element of the fund is managed by Foresight Group, which has made its fourth investment and its first in Mid Wales. SudoCyber founders Jason Davies, Marc Del-Valle and John Davies have all served in the armed forces. he investment bolsters its growth plans for their gamified training which is used by the military, police, academia and industry. Established three years ago, the business began by training military personnel and has expanded to train cyber-crime police officers. Last year it won a three-year contract to train officers across all UK forces and the UK’s 10 regional organised crime units. The firm also services most universities in Wales, including Cardiff, Wrexham and south Wales. In its first funding round, SudoCyber said it will enable its 11-strong team to expand and recruit to further develop services, build the sales and marketing team, as well as expand internationally. As part of Foresight’s investment, the SudoCyber team will be supported by Geraint McGrath, senior investment manager at Foresight, who has been appointed to the board. A military background has been crucial to the team’s success. Mr Del-Valle, chief executive of SudoCyber, has more than 20 years of experience creating and delivering bespoke tactical and strategic communication instruction as part of his role within the British Army. He said: “With the ever-evolving landscape of cyber threats, it is essential that organisations maintain a knowledge of cutting-edge cybersecurity. We have equipped soldiers with the necessary skills to counter nation-state threats and this previous experience, insight and expertise has contributed to our success. “From very early conversations with Foresight, we realised that we were aligned in driving the issue of cyber security forward.” SudoCyber chief executive and co-founder Mr Davies, said: “We’re excited at the prospect this equity investment presents. We have ambitions to further develop the gamified elements of our learning platform, and to expand our client base in the UK and internationally. “This includes reaching out to more universities where lecturers in cyber security appreciate being able to outsource some modules to benefit from our expertise.” Bethan Bannister, senior investment manager, nations and regions investment funds at the British Business Bank, said: “The Investment Fund for Wales was established to provide the financial backing that innovative and ambitious companies like SudoCyber so often need, and we are particularly pleased to support their growth plans as they continue to scale. “The SudoCyber team is expert within this specialist and increasingly vital sector, and they have established an impressive roster of clients. “We look forward to tracking their success following this significant investment.” Mr McGrath said: “We are very pleased to support SudoCyber with this significant £1m investment, marking our first investment in mid Wales and underscoring our commitment to supporting the growth of dynamic Welsh businesses. “With this investment, SudoCyber is poised to enhance its capabilities, expand its team, and broaden its market reach. We look forward to partnering with Jason, Marc, and John on their exciting growth journey.” Mr McGrath said: “We are very pleased to support SudoCyber with this significant £1m investment, marking our first investment in mid Wales and underscoring our commitment to supporting the growth of dynamic Welsh businesses. “With this investment, SudoCyber is poised to enhance its capabilities, expand its team, and broaden its market reach. We look forward to partnering with Jason, Marc, and John on their exciting growth journey.” Advisers Foresight: SME financial advice by FosterDenovo Dynamic Portfolios Legal advice by Blake Morgan SudoCyber:

UK fintech funding races ahead of Europe as sector looks for 2025 rebound

New figures reveal that the UK's fintech sector trailed only the US in total investment last year, despite a significant decline in funding compared to 2023 levels. While global fintech investment decreased by 20% to $43.5bn (£35.2bn), the UK secured $3.6bn (£2.9bn) in funding, surpassing the combined total of the next five European countries, data from Innovate Finance shows, as reported by City AM. Despite the downturn in new capital, industry experts anticipate a rebound in 2025. "When we've been speaking with investors, they're positive about 2025," Janine Hirt, CEO of Innovate Finance, commented to City AM. "There was a bit of dry powder there waiting, and now going forward, there's a lot more clarity as we're in a post-Budget, post Mansion House environment. There is certainty around the government, both here and in the US. " Although the UK maintained its second-place position globally, its funding decline outpaced the worldwide average, closely followed by India, which reported $2.2bn (£1.8bn) in fintech investments for the year. In 2024, major UK deals included a $621m funding round for Monzo and $267m for Zepz. However, female-led fintechs experienced a stark 78% drop in investment, garnering just $120m (£97m), or 3.3% of all UK funding. "It is a clear indication that we need to be doing more, because that is a hugely disappointing number, and we have to take action to try and increase that," Hirt stated.

TSG continues year-on-year growth with turnover and profit hikes

IT firm Technology Services Group (TSG) is on the acquisition path, its CEO has said, on the back of further turnover and operating profit rises. The Gateshead-based firm, a specialist Microsoft Partner that provides a range of computing and AI services, has plans to make up to three acquisitions a year over the next three years, with due diligence work already under way on two opportunities following the purchase of an education-focused accountancy software firm last year. New accounts for the business - covering the year to the end of March 2024 - show the third consecutive year of more than 10% growth, with turnover rising more than 12% to £39.8m. Operating profits were up 49% to £4.64m, after charging £90,000 to the TSG Corporate Foundation which donates a percentage of the company's profits to charities and community initiatives each year. Bosses said the 280-strong business, which also has offices in London and Glasgow, had seen improved trading performance year-on-year, including 22% growth in project services revenue and 11% growth in revenue from recurring income streams. CEO Rory McKeand told BusinessLive: "The growth has come from work all over the UK and we've seen an additional 100 clients, which is brilliant. We have a really good retention rate of over 98% of our clients as well - which is great because technology is a competitive environment with lots of different providers out there in the landscape." Mr McKeand is now looking to grow TSG turnover to around £100m in the next few years, half of which is expected to come from organic growth. The results have been published following the multimillion-pound management buyout of TSG in July last year in which Mr McKeand and his leadership team were backed by private equity firm Pictet Alternative Advisors, which acquired TSG from founding shareholders Sir Graham Wylie and David Stonehouse. At the time, Pictet, which controls about £612bn of assets, said the firm had an attractive business model and that it saw the potential to expand TSG organically and through mergers and acquisitions. The first of those acquisitions came in November last year, when TSG snapped up Aylesbury-based multi-academy trust tech provider Dayta in an effort to strengthen its presence in the education market. That multimillion-pound deal was said to be ideal for TSG, which offers its Academy learning platform to clients so their teams can get the most from the technologies it provides. Subsequent deals in the Midlands and South East are now expected to follow with potential for another on home, North East soil. Mr McKeand has previously talked of his intentions to build on success of the company over the past two decades and strengthen TSG's position as the "UK's mid-market business tech partner". He also highlighted the introduction of an employee benefit trust set up so that all employees can become a shareholder in the business - a model that will be extended to employees of those companies TSG acquires.

Tech firm Mojo-CX vows to create ‘high-quality jobs’ after £2.25m investment through Northern Powerhouse Investment Fund

A tech firm that creates AI-based systems for contact centres has vowed to create “high-quality jobs” in Manchester after securing a £2.25m investment through the Northern Powerhouse Investment Fund (NPIF). Mojo-CX was founded by CEO Jimmy Hosang in 2018 and has developed a suite of tools, to help businesses analyse digital and voice conversations, with the results being used to help contact centres and call handling teams deal with customers. Those tools include an AI team leader called MO and an agent assistant called JO, Its CECE tool uses AI to analyse conversations – and Mojo says it can help reduce the time taken to find an answer to a question by as much as 99%. The funding round was led by NPIF II – Praetura Equity Finance, which is managed by Praetura Ventures. The £2.25m investment included £1m from the NPIF II, plus investment from River Capital’s fund:AI and Mojo’s existing investors the Greater Manchester Combined Authority (GMCA), and Foresight – from the Midlands Engine Investment Fund (MEIF). Mojo, which also has an office in Birmingham, plans to use the investment to develop its technology with new features, such as voice AI and automated quality assurance. It also plans to double the size of its sales and engineering teams. Jimmy Hosang, CEO of Mojo-CX, said: “With this new injection of capital and ideas, MOJO-CX will accelerate our vision of redefining customer contact, for customers, for brands and for employees through the use of AI. “As a proud northerner, this funding also allows us to deepen our commitment to the region by creating high-quality jobs and fostering a thriving tech community here in the North West. This is a pivotal moment for MOJO as a business and for the contact centre market, and I can’t wait to see what we can achieve in this space.” Michael Rees, investment manager at Praetura Ventures, said: “Businesses are looking for ways to stand-out against their competitors, and improving the experience for customers is a key way of doing this. Mojo’s tools are already having a significant impact by providing businesses with tangible data and insights to improve the quality of their customer service functions. “We’re proud to be backing another proudly northern company, which has identified a clear gap in the market for a suite of analytics, monitoring and training tools for contact centres, which are essential to every business’s consumer reputation and bottom line. We look forward to supporting Jimmy and the team with more than money as they explore new ways to grow and meet demand.” Sue Barnard, senior manager at British Business Bank, said: “The rollout of AI will transform the processes that businesses adopt and use as they grow, and it is brilliant to see companies like Mojo - delivering this technology transformation in the North West. Innovative companies are a key part of economic growth and we are looking forward to seeing more of these types of businesses emerge in the future.”

County Durham firm braves Dragons' Den in bid to secure investment

A County Durham couple will become the latest regional business to brave the Dragons’ Den this week. Zara Paul and Aaron Morris are the founders of Choppity, a Belmont Business Park company behind a web-based AI video editing platform which is set to appear on the new series of the BBC pitching programme on Thursday in a bid to secure investment for their start-up. The co-founders and married couple only launched Choppity in 2023 with a vision to simplify the video-editing process for podcasters and businesses. The platform, which was founded in Durham, is already used in production by companies including ITN, Autotrader, Turtle Bay, and Sonatype, with features including AI subtitles, in which Choppity instantly adds subtitles to podcast clips, and Magic Reframe, which instantly turns a landscape podcast into a portrait or square one to make sure every speaker’s face can be seen. Before taking on the Dragons, the pair said their number one target for investment was entrepreneur and host of one of the world’s most listened-to podcasts, Diary of a CEO, Steven Bartlett. Zara proudly represents the LGBTQ+ community as an openly non-binary contestant, and said the experience was “important and deeply personal”. Zara said: “It was an unforgettable moment to be in that room, presenting something we’ve worked so hard on. The setup felt incredibly stripped back - just the two of us and a screen in front of the five established entrepreneurs. It was both nerve-wracking and exhilarating. “The startup world, and the media more broadly, often feel bare of LGBTQ+ representation, especially for gender non-conforming and trans founders. I hope this moment inspires others to pursue their ambitions and know they belong here too.” In a LinkedIn post the firm said: “After months of secrecy, we’re so excited to finally reveal the news. Watch the episode this Thursday 16th January, 8pm on BBC 1 to find out what the Dragons thought of Choppity. For those that have been following our company’s journey for a while, I hope you have fun watching this episode! “We’re extremely grateful for the opportunity to showcase Choppity on a national stage. To all of our users, customers and supporters, thank you for helping us get here.”

Transport for Wales launches new high speed internet network

Transport for Wales has launched a new full fibre high speed internet network which was installed in tandem with the South Wales Metro rail electrification project. In a UK rail industry first the transport body of the Welsh Government said its wholesale network can be reached by one million people, through new subsidiary venture TfW Ffeibr. Alexia Course, chief commercial officer at TfW said: “We’re extremely proud and excited to be launching TfW Ffeibr, to provide a state-of-the-art high-speed network for companies to use and sell within Valley communities. “We’ve been carrying out huge infrastructure works in the Valleys, electrifying the railway line as part of the South Wales Metro and this presented us with an opportunity to also build the infrastructure for a high-speed core network. “The Metro project is about physically connecting people and TfW Ffeibr is about connecting people in the digital world. At TfW, we’re fully aligned to the Well-being of Future Generations (Wales) Act and this new subsidiary business reinforces our commitment to improving the lives of people in Wales.” Guy Reiffer, managing director at TfW Ffeibr, said:“This is an industry and UK first – a rail infrastructure project that has diversified and utilised its construction to also install a high-speed, full fibre internet capable network. “We’re excited to launch and we’re looking forward to working with teleco companies to provide big-bandwidth full fibre internet for communities that are harder to reach. “For people living in the Valleys, high-speed internet enabled by our core fibre offering will open up lifestyle and business opportunities.” As well as reaching around one million people, TfW Ffeibr is currently accessing the number of business that could utilise the network., which is though accessible to many of the region's business parks. TfW Ffeibr is currently talking to a range of internet service providers and telecommunication (telco) companies over commercial use of its wholesale network. It said: “This will be either to connect towns and villages where an internet service provider is building out those towns or to connect businesses for those internet service providers or telcos, We cannot comment on individual discussions at this stage.” For those using the network TfW Ffeibr will charge a connection fee and for the distance provided. It declined to comment on projected revenues in its first three years. TfW wouldn't disclose the cost of installing the fibre on the Metro network. The bill for electrifying the Core Valley Lines, along with part of the City Line and the Coryton Line in Cardiff, will come in at just over £1bn. Moreover, alternative full fibre teleco, Ogi, has installed a new full fibre leased line connection at Cariff City FC’s training centre at Hensol in the Vale of Glamorgan. The new infrastructure is already boosting the club’s ability to process performance data in real time during training sessions. Ogi is already a well-known name in sport, with Cardiff Rugby, Parc y Scarlets, and the home of Welsh rugby, the Principality Stadium, among its customers. It also has sponsorship deals with Haverfordwest County AFC and the community-owned Merthyr Town FC. Ogi’s chief executive, Ben Allwright, said: “As a big football fan, I’m delighted to see Ogi supporting our home city club, Cardiff City. There’s a real sense of community among City’s supporters – and this plays to our community-centric ethos here at Ogi too. “Bringing our connectivity to the Bluebirds’ training base has the potential to help the teams develop their game and I’m very excited to see how increased access to real time analytics plays out on the pitch.” Huw Warren, head of commercial at Cardiff City FC, said: “Ogi is a strong signing and welcome addition to the Cardiff City family. They’re a Welsh brand making huge strides across the country right now and the support they’ve given since our partnership started has been exceptional. “Ogi’s full fibre technology enables us to do things faster and more efficiently, accessing data in the split seconds that matter on the pitch.

Ex-Dragons' Den judge hails 'step in right direction' for UK AI action plan

Former Dragons' Den investor Piers Linney has thrown his support behind the UK's 'AI Opportunities Action Plan', recently unveiled by Keir Starmer but crafted under tech entrepreneur Matt Clifford's guidance. The government's strategy aims to harness AI for the UK's economic growth, as reported by City AM. Linney, in a LinkedIn update, commended the plan: "Falling behind will lead to global irrelevance and wealth destruction. Catching up in an exponential world is impossible." He added, "The global AI race is now on. Nations that act quickly will lead, and those that hesitate risk being left behind. This plan signals the UK’s intent not just to keep up but to set the pace." He also shared a video of Clifford from the department for science, innovation and technology (DSIT), describing it as "a step in the right direction". As executive chairman and co-founder of Implement AI, Linney has been vocal about the necessity for regulation and strategic planning, suggesting on X: "We need a UK Manhattan Project to plan for exponential future across all policy". While endorsing the initiative, Linney did raise concerns, particularly questioning who benefits from the new data centres and emphasising the importance of making data "accessible to all businesses, not just the big players" He also emphasised the necessity for more audacious strategies to tackle the issues faced by SMEs, which makeup 99 per cent of UK businesses. "The UK’s 5.6m SMEs must be supported to implement AI effectively. Applying linear plans to an exponential future will not work", he stated.

Newcastle firm Opencast makes list of Europe's fastest growing companies

A North East technology company has been included on a list of Europe’s fastest-growing firms. Newcastle firm Opencast, which provides digital transformation for Government departments and other organisations, is ranked 365th on the FT1000 list, which brings together fast-growing companies from around Europe. Rankings are based on compound annual growth rate between 2020 and 2023, with Opencast seeing 76.2% growth over that period, as well as more than tripling its headcount. The company recently released accounts in which its turnover for 2023 came in at £49.9m, and has announced a £32m contract win with the Department for Work and Pensions. The FT1000 list – which has previously highlighted North East companies including END Clothing, Everflow and hedgehog lab – was topped this year by Menlo Electric, a Polish supplier of photovoltaic panels and inverters, followed by UK fintech company Allica and German advertising business Almedia. More than 100 UK firms are on the list, including chicken chain Wingstop and hot chocolate cafe firm Knoops, both of which have recently opened in Newcastle. The FT1000 list also has strong representation from Germany, France and Italy. Opencast CEO Tom Lawson said: “To be featured in the FT1000 ranking among companies from across Europe reflects a period that saw our business transform and our people count grow from 117 to 431 in 2023. More than 80% of our people with us today, joined the business during this time. “Like many businesses, we faced a tough economic and trading environment last year, but we’re starting to see positive signs for 2025 which I hope others are experiencing too. We’re working hard to return to the strong, profitable growth that this ranking recognises, as we see demand return from our key clients and partners, and we help them deliver social impact through better, more inclusive, digital services for all. “The FT1000 news is testimony to the massive efforts of our whole team to keep us on our sustained growth trajectory, even as the sector has faced tough times. A huge thank you to everyone at Opencast for their role in making us the business we are today, as well as our clients and partners for their continued commitment to working with us.”

NASA deal for Cornwall’s Blue Abyss to support astronaut training and space research

The Cornish company developing the world's deepest indoor pool has announced a partnership with NASA that could help astronauts train for missions to the Moon and Mars. Blue Abyss has signed a Space Act Agreement with NASA’s Glenn Research Center that it says will “ bolster the development of next-generation infrastructure and capabilities for human spaceflight, astronaut training, and the simulation of extreme environments”. The agreement will see NASA and Blue Abyss work together to work on research and training to address challenges faced by astronauts in environments from low-earth orbits to the surfaces of the Moon and Mars. Blue Abyss specialises in extreme environment research, training, and development. Its operations are designed to help people and companies operating in settings from underwater to space. It is planning to build a £150m pool in Cornwall to be used for training and research, which will be 50m deep and will be the deepest indoor pool of its type in the world. Blue Abyss is currently developing a research centre in Cleveland, Ohio, near NASA's Glenn Research Center. Work under the new partnership will include carrying out research on human performance, robotics, and scientific experiments under “extreme gravity conditions”. The organisations will also work on understanding what facilities are needed to help simulate conditions in space – potentially including underwater training, parabolic flights that create zero-gravity conditions, and augmented reality technology. NASA will provide technical support and share insights from its decades of work in space, as Blue Abyss works to develop its own commercial facilities and services for astronaut selection and training. The initial phase of the partnership will see Blue Abyss carry out a study of the market to understand the need for infrastructure over the next decade. Those results will be shared with NASA so the agency can better understand what commercial capabillities it will be able to use in future. John Vickers, chief executive officer at Blue Abyss, said: "This Space Act Agreement with NASA’s Glenn Research Center represents a pivotal milestone for Blue Abyss. As we develop next-generation infrastructure, including our proposed facilities in the US and UK, it helps position the UK as a significant player in the space sector, supporting industry growth, consultancy, training, and infrastructure development that will attract international clients and foster innovation within the UK space industry.” Ross Hulbert, head of engagement at Spaceport Cornwall added, "We're thrilled to welcome Blue Abyss to our Space Systems Operations Facility at Spaceport Cornwall. It's fantastic to have such an innovative team join us, especially at this exciting time. “We’d like to extend our huge congratulations to everyone at Blue Abyss on their new partnership with NASA's Glenn Research Center. This collaboration not only showcases their incredible capabilities but also solidifies the UK's role in advanced space and subsea training.” In an update in December on progress of its Cornish pool plans, Blue Abyss CEO John Vickers said: "While the development of our Cornwall facility has faced hurdles due to local and regional political dynamics, we have secured £600,000 in matched funding to support the UK site pre-development costs. "This funding highlights the strategic alignment of our projects with the UK’s renewable energy priorities. Despite challenges, we remain steadfast in our commitment and while we are also exploring alternative locations in the region to ensure the success of this critical project. The South West remains central to our vision for subsea innovation and energy resilience."

Zoo Digital predicts return to Ebitda profit but likely to miss full year expectations

Subtitling and dubbing services provider Zoo Digital says 2025 revenues and earnings are likely to fall miss market expectations, despite a rise on last year. The Sheffield-based provider of 'localisation' services to Hollywood studios and streaming platforms says full-year performance will fall short of expected $55m revenue and £2.75m Ebitda. In a trading update, Zoo said it hopes to return to Ebitda profit of at least $1m compared with last year's $13m loss. It follows a turbulent time for the global operator which was severely impacted by the US screenwriter and actor strikes in 2023. The action stalled new productions and interrupted what had been a growth trajectory for the firm. In its wake, Zoo - which uses digital technology and a pool of more than 12,000+ freelancers to carry out its work - has been making cost savings. Bosses said those efforts have results in a 20% fall in fixed costs during the year, with expectations that blended gross margins will improve to 36%. Zoo said it had been closely managing its cash position as part of a move towards cash breakeven - and now expects a balance at the end of the 2025 financial year of more than $1m, with invoice discounting facilities of $3m and £2m that are not expected to be used. The firm's trading update said: "Whilst the company's order book has improved in recent months through the addition of several high value projects, these are not included in the company's current expectations for FY25. The timing of revenue recognition for these projects is uncertain as commencement for much of this work is dependent on the supply of original assets from licensors. In addition, some projects in the FY25 pipeline relate to titles that customers have either delayed or cancelled.

Biotech firm HistoCyte Laboratories expands at Newcastle business park

A Tyneside biotech business is set to launch a recruitment drive after doubling the size of its Newcastle base. HistoCyte Laboratories, which develops medical testing products, has grown to a team of 20 staff since first moving to Newcastle’s Quorum Park in 2019. The company has now doubled its floor space within Quorum’s Neon building to help accommodate its growth. The firm has signed a new lease with landlord Shelborn Asset Management for a new 4,000 sqft space which will enable HistoCyte to expand production capacity and take on 10 additional staff. The firm is also installing two large tissue culture laboratories, a cold room and expanding its storage space. HistoCyte’s CEO Colin Tristram said: “We are very excited to be increasing our floor space here at Quorum Park. Since moving here in 2019 our sales have grown by approximately 30% each year and while our headcount has grown with demand, the premises haven’t, until now. “Our new large tissue culture laboratories are where we will grow the cells for our products. There will be a cold room for raw materials but also for our finished stock as we will create our packaging and distribution point here. There will be a write up area for our scientists as well as histology space where we will process the cells and cut material on to microscope slides. “The team at Quorum have been very accommodating in providing space for a biotech company in what are effectively buildings for offices. There is a burgeoning biotech sector in Newcastle but we don’t have to be located in the city centre where it is comparatively much more expensive to operate.” Mark Rabinowitz, director of Shelborn Asset Management, added: “At Shelborn we have gained a wealth of experience in providing organisations who work in the life sciences and biotech sectors with office space solutions and we see it as a big growth sector in the UK.

Coding school to create new edtech jobs in Birmingham

More than 100 new edtech jobs are set to be created in Birmingham after a software training business announced it was expanding into the city. Wolverhampton-based School of Coding & AI has struck a deal to launch a new hub in Livery Street from where it plans to teach the next generation of tech and digital professionals. It said it expected to create at least 100 new higher education roles over the next three years. Founded in 2017, the company works with schools, colleges and businesses to boost digital skills by delivering courses in STEM subjects (science, technology, engineering and maths), computer science, AI and cyber security. It has formed a new partnership with University of Wolverhampton to open a 12,000 sq ft hub in Livery Place in Birmingham’s business district and plans to open five further campuses across the country in 2025. Email newsletters BusinessLive is your home for business news from across the West Midlands including Birmingham, the Black Country, Solihull, Coventry and Staffordshire. Click through here to sign up for our email newsletter and also view the broad range of other bulletins we offer including weekly sector-specific updates. We will also send out 'Breaking News' emails for any stories which must be seen right away. LinkedIn For all the latest stories, views and polls, follow our BusinessLive West Midlands LinkedIn page here. The new higher education centre will contain an AI learning lab and deliver a range of degrees and higher education courses. Around 300 students are set to enrol in January. The business also expanded into India earlier this year with new offices in Hyderabad and Chandigarh where it provides UK students with fully funded placements and the chance to experience a new culture while developing their skills in software development. In a separate announcement, SI Group, which specialises in performance additives, process solutions and chemical intermediates, is creating 15 roles by relocating its European R&D base from Greater Manchester base to Four Ashes, near Wolverhampton. The new facility will focus on the development of new products and the creation of data for existing products, as well as providing analytical support for R&D, manufacturing and supply chain functions. Its move to the West Midlands will create new roles in the fields of chemistry, polymer science and materials science and the lab will also offer summer internships for local students. The West Midlands Growth Company supported both investments by providing School of Coding & AI and SI Group with consultancy ahead of the moves. Manny Athwal, chief executive of School of Coding & AI, said: "We’re extremely excited to be collaborating with the University of Wolverhampton for this next chapter in our growth journey. "From our new Birmingham campus, we look forward to equipping a new generation of students with the specialist knowledge and expertise to embark on exciting and rewarding careers in tech." Cllr Stephen Simkins, leader of City of Wolverhampton Council, said: "Yet again, Wolverhampton is demonstrating it is a leader in digital technology and innovation. "School of Coding & AI is a beacon for the city and SI Group’s lab relocation shows the region is the place to invest when it comes to R&D. "Both companies are making a real difference to our residents and those beyond the city by creating jobs that align with our skills agenda."

Fintech unicorn Zopa to double office space as it launches in Canary Wharf

Fintech heavyweight Zopa is poised to double its office space as it plans a move to a new headquarters in Canary Wharf. The upcoming office, situated at 20 Water Street, will sprawl across 44,000 square feet and accommodate Zopa's existing workforce of 900, as reported by City AM. The British digital bank, established in 2020, announced the relocation as part of its preparations for the public launch of its flagship current account and a GenAI proposition designed to "bring humanity and warmth into banking". The fintech firm will be rubbing shoulders with several banking giants already based in the business district, including HSBC, JP Morgan, and Barclays. Iain Kendrick, Chief People Officer, described the move as a 'statement of intent', saying: "Our relocation to a brand-new headquarters at 20 Water Street in the heart of Canary Wharf marks a major milestone in Zopa's growth journey. "This move is more than just a change of address-it's a statement of intent as we change the face of banking in a location previously dominated by the UK's established banking players. "As we continue to scale, investing in a best-in-class workspace reinforces our ambition, culture, and commitment to attracting and retaining top talent." Zopa also revealed plans to install its own neon sign atop the 13-storey building, which boasts an impressive BREEAM sustainability rating. The company's rapid expansion over recent years culminated in it turning a profit in December 2023. The fintech's most recent endeavours saw it teaming up with energy behemoth Octopus to penetrate the energy market, and with retail giant John Lewis to provide personal loans to its 23 million customers.

Newcastle marketing group Fortuna Gaming helps launch new website Ivy Casino

A Newcastle gaming group has developed and launched a new casino website, designed to offer UK players with a “luxury gaming experience”. Ivy Casino has been developed by Mark Good, chief commercial officer, and the team at Fortuna Gaming, a Newcastle city centre online gaming and betting marketing and technology development specialist. The firm said the website aims to deliver a luxury, player-focused gaming experience with “top tier” games, and that the firm is focussed on growing the brand in a competitive, crowded market. Mr Good said: “Launching Ivy Casino has been an exciting journey, but like any ambitious project, it hasn’t been without its challenges. We have had to navigate the complexities of entering the highly competitive UK online casino market – one of the most regulated and competitive markets in the world. “One of the key challenges was ensuring that Ivy Casino not only met but exceeded the high expectations of UK players. This required building a state-of-the-art technology stack from the ground up to deliver exceptional performance, speed and reliability while maintaining full compliance with UK Gambling Commission regulations. “Another challenge was differentiating Ivy Casino in a crowded marketplace filled with established competitors. By leveraging many years of experience managing successful online gaming brands, the team identified a clear opportunity to deliver a premium, player-first experience that blends innovative game content with elegant design and tailored promotions.” The launch follows growth at the Blandford Square business which has seen a number of jobs created, with more to follow. Jason Bolton, chief operating officer at Fortuna Gaming, said: “Ivy Casino is proud to contribute positively to the local area in Newcastle, and the wider North East region, through the creation of new job opportunities at Fortuna Gaming, the driving force behind the brand. “So far, roles in marketing, affiliate management, UX and UI design, development, compliance and more have been established, and we anticipate further growth as the brand evolves. “As we grow, we aim to not only establish Ivy Casino as a leader in the UK iGaming market but also as a brand that makes a meaningful difference in Newcastle’s business and community landscape.”

Wise's customer numbers soar as fintech makes big deals with financial giants

Fintech platform Wise has reported a 20% increase in customer numbers over the past year, bolstered by strategic partnerships with leading financial institutions. In its latest quarterly trading update, the money transfer company disclosed that cross-border volumes had leapt by 24%, or 27% on a constant currency basis, reaching £37.8bn. Additionally, Wise account balances saw a 26% growth to £16.2bn, while the broader uptake of the firm's accounts contributed to a 39% rise in card and other revenue, as reported by City AM. Wise anticipates an underlying income growth of 15-20% for the full financial year on a constant currency basis, although it expects reported growth to be at the lower end of this range due to foreign exchange headwinds. "This quarter saw us take another step closer to achieving our mission, most notably through extending the availability of Wise to even more customers," commented Kristo Käärmann, co-founder and CEO of Wise. During the quarter, Wise expanded its services in Brazil, initially from individual customers to now also encompass micro-businesses, as it aims to integrate with Brazil's payment system, PIX. Furthermore, last month, Wise announced a significant agreement to manage foreign exchange payments for Morgan Stanley’s corporate clients, marking Morgan Stanley as the first major investment bank to offer "high speed cross border" payments via Wise's platform. The agreement marked an effort by the fintech to secure more prominent financial clients, in addition to its conventional money transfer service, which enables individuals and businesses to transmit money internationally.

Fast-growing tech firm appoints new chief operating officer as it looks to expand

A fast-growing technology company in South Gloucestershire has appointed a new chief operating officer as it looks to expand its presence across the region. Victoria Parker has joined Almondsbury-based IT firm WestSpring following a 20-year career at a specialist technology recruitment company in Swindon where she rose to director level. WestSpring IT works with brands including cosmetics company The Somerset Toiletry Co and professional services firm ForrestBrown. Ms Parker said it had taken "an amazing opportunity" to tempt her away from a job she’d enjoyed since she was in her early 20s. "My vision for my new role is to ensure WestSpring operates efficiently and to create a stable operational platform upon which the business can grow," she said. "The team have done a brilliant job so far – we have happy customers, virtually all new business comes from referrals and (probably most importantly) everyone cares about the work they are doing and the success of the company as a whole." Executive chairman James Phipps said: “We are delighted we have been able to attract the calibre of leader in Victoria to WestSpring. We are a high-growth business and as we continue to grow the experience and leadership Victoria will bring will be indispensable to us being able to continue that growth. Our shared values and focus on the community is a key reason for her joining us as this exciting time.” In the last year alone, WestSpring has seen growth of more than 30 per cent and revenue for the year will be close to £4m. The business, which was founded by Jase Small and Phil Cater, is planning to open a satellite office in Swindon later in 2025. Mr Cater said: “We're very excited to have Victoria come and join the team and as we continue to focus on our service and technology offering to our clients we are ensuring that we have the best talent in the South West to facilitate that.”

London holds on to crown as tech capital of the world as New York closes in

London has retained its position as the world's tech capital, according to a highly-regarded league table, while New York is inching closer to reclaiming the top spot. The Z/Yen Smart Centres Index, which ranks 77 global commercial hubs based on their ability to innovate, develop and implement technology, revealed that London continues to hold the first place, a title it has maintained since surpassing New York last May, as reported by City AM. In the most recent edition, New York regained second place after falling behind Zurich six months prior. The gap between London and New York has shrunk by six points since May, with London's score recently decreasing by seven. San Francisco ascended four places to secure fourth place, trailing Zurich. Oxford and Cambridge, recognised as influential global tech hubs, dropped by four and one places in the ranking respectively. The new UK government has positioned Britain’s tech industry at the heart of its pledge to attract more international investment and foster a supportive environment for start-ups. At Labour’s flagship investment summit last month, US companies CyrusOne, Cloud HQ, CoreWeave and ServiceNow committed a combined £6.3bn in funding for the UK’s data centre industry to cater to the nation’s growing demand for AI and machine learning. Jersey was the only location in Z/Yen’s top 20 to witness an increase in its score over the past six months, with the average rating across the index falling 1.07 per cent. According to recent numbers, confidence appears to be waning in global technology centres, a trend that Z/Yen attributes to the ongoing geopolitical tensions and economic instability. Commenting on the current state of sentiments, former Lord Mayor of the City of London and Z/Yen chair Michael Mainelli said: "The latest results in the SCI show a slight dip in confidence in the strength of centres, and confirmation that strengths in AI, digital, and computing skills will have a major impact on centres’ performance."

Tech firm Olsen Actuators & Drives plans 'significant growth' after securing £700k investment through Northern Powerhouse Investment Fund

A Cheshire tech firm whose products are being used in prototype flying taxis is planning “significant growth” after securing a £700,000 investment. Olsen Actuators & Drives, of Daresbury and Runcorn, was founded in 2004 by mechanical and manufacturing engineer Piers Olsen and today supplies high performance advanced electro-mechanical systems to sectors including aerospace, defence and robotics. Its custom projects have included developing manned primary flight controls for aircraft – including for the prototype VX4 Vertical Aerospace fully electric air taxi. Now it has secured a £700,000 investment through NPIF II – FW Capital Debt Finance, which is managed by FW Capital as part of the Northern Powerhouse Investment Fund II The company says the investment will help it to fulfil a number of new contracts “with blue chip names”, and will also help to create six jobs. Ian Walch, managing director at Olsen Actuators & Drives said: “The NPIF II funding from FW Capital is helping us to fulfil a significant number of new contracts, expand our engineering team and invest in key research and development projects. Areas where we’re seeing the biggest growth include custom solutions for aerospace, subsea, defence, and marine markets. “The increased demand for our actuator solutions is seeing us work directly with some global blue-chip names and prime contractors. The aero market, particularly the eVTOL (electric Vertical Take-Off and Landing) and heavy lift drone market, continues to be a rapidly expanding sector for Olsen and one where we are seeing great opportunities. We’re excited for the future and this investment will be instrumental in supporting our future growth and has enabled us to add six new roles to our team.” Laura Rees, senior investment executive at FW Capital said: “Olsen Actuators & Drives operate in a niche market, bringing a high level of expertise and innovation. The projects they are working on are impressive and we’re delighted to provide funding to support this work. It’s also another great example of how NPIF II funding is helping to drive growth in the local economy with the creation of new jobs as a result of their new business wins.” Sue Barnard, senior manager at the British Business Bank, said: “There has been increased investment in electric vehicles over recent years as businesses look for ways to swiftly move to a more sustainable way of working. This is a great example of a business that is environmentally focused, which aligns well with the NPIF II objectives, and it’s exciting to see a Northern business using NPIF II to unlock their next stage of growth in the region.” As part of the Northern Powerhouse Investment Fund II, FW Capital will provide debt finance options from £100,000 to £2million to businesses based in the North West.

Filtronic triples revenue and profits as SpaceX relationship blossoms

Radio frequency tech specialist Filtronic has significantly boosted revenue and profitability as its relationship with Elon Musk's SpaceX continues to strengthen. First half results for the Sedgefield-based firm, which also has operations near Leeds and Cambridge, show revenue grew to £25.6m in the six months to the end of November 2024, compared with £8.5m in the same period the year before. Operating profit was £6.8m during the period, following a £400,000 first half loss in 2024. Filtronic told investors there is still further growth potential in the low earth orbit market - which is projected to be worth $310bn by 2031 - and has hinted that further collaboration with SpaceX could be in the pipeline, amid the firm's work on components for the Starlink constellation. Last year's agreement with SpaceX, which gave the US rocket giant options to acquire a stake in Filtronic, has led to a series of multimillion-dollar orders, and brought about expansion at Filtronic's NETPark home in County Durham. Having installed two new production lines in the North East and opened a new design centre in Cambridge, the firm says it is looking to ramp up output. That comes ahead of a move into larger premises at NETPark later this year. In the next year, Filtronic expects to complete a project with the European Space Agency which will bring revenues in 2026. Other customers Almagest Space Corporation and XDLINX Space Labs have also taken the firm's mmWave technology into space. Jonathan Neale, Filtronic chairman, said: "We are pleased to communicate these strong set of interim results. Robust order intake has resulted in the improved revenue and profit outlook in H2 which we communicated in market upgrades in December 2024 and January 2025. Investing in the business to underpin the orderbook has been timely and effective and we look forward to being able to communicate more about the next financial year as things develop during H2." He added: "We have an exciting technology roadmap, developing semiconductor and passive technologies in the millimetre-wave spectrum for both the ground station, payload and platform systems and components. These are supported by leading edge global semiconductor foundry technologies. The developments relating to these are progressing well and we still expect to deliver against critical timelines.

Apple faces £3bn legal challenge from Which? over alleged Icloud competition breaches

Consumer rights organisation Which? has lodged a £3bn lawsuit against Apple, accusing the tech giant of breaching UK competition law with its iCloud services. Which? alleges that Apple has been favouring its own iCloud storage services and making it challenging for customers using Apple devices to utilise alternative data storage providers, as reported by City AM. The claim, submitted to the Competition Appeal Tribunal, suggests that customers are effectively locked in as Apple does not permit them to store or back-up all their phone's data with a third-party provider. Consequently, iOS users have to pay for the service once they exceed the free 5GB limit. Which? argues that this lack of competition results in consumers being overcharged annually on their monthly iCloud subscription fees. The lawsuit points out that Apple has increased the price of iCloud for UK consumers by between 20 per cent and 29 per cent across its storage tiers in 2023. Which? is now seeking damages for affected Apple customers who have used iCloud services since 1 October 2015. The group estimates that individual consumers could be owed an average of £70 depending on the duration they have been paying for the services. Anabel Hoult, chief executive of Which?, has claimed that Apple customers are due nearly £3 billion due to the tech giant's imposition of its iCloud services on consumers and stifling competition from rival services. "By bringing this claim, Which? is showing big corporations like Apple that they cannot rip off UK consumers without facing repercussions." she stated. A similar case against Apple regarding this issue is already underway in the US, but it has not yet reached a conclusion. In response to the claim, an Apple spokesperson defended the company's practices: "Apple believes in providing our customers with choices. Our users are not required to use Icloud, and many rely on a wide range of third-party alternatives for data storage."

Newcastle property firm iamproperty to create 100 jobs over coming months

A major recruitment drive has been opened up by Newcastle's iamproperty as it plans to create 100 jobs over the next 18 months. The Gosforth-based provider of technology for online property auctions says it will initially focus the expansion on its residential conveyancing arm, Medway Law. It is part of a move to capitalise on continued rises in auction transactions. To begin with, 20 roles are being advertised across its conveyancing and business support services. In February and March, more than 20 roles will be available for auction specialists. Bosses say the move comes on the back of demand for iamproperty's auction solution driven by buyers and sellers looking for fast sales ahead of the Stamp Duty Land Tax deadline in April. That is when the threshold band on residential properties will reduce from £250,000 to £125,000. Iamproperty, which employs 700 people, is said to be the UK's largest online residential auctioneer and reports that the number of properties sold by auction was up by 28% in December last year, compared with the year before and bidding activity was up 64%. The firm says that auctions can offer 56-day completion timescales from receipt of draft contracts, based on a standard property. Ben Ridgway, co-founder at iamproperty, said: "We’re pleased to be expanding our 150-strong team within Medway Law with these new legal roles. We know some redundancies were faced in the industry before Christmas and are keen to hear from people with experience who want to be part of modernising the property market and driving innovation. "We’re committed to making the moving process better, faster, and more secure for everyone involved, and we’re in it for the long term. We’re looking forward to welcoming successful candidates who share our vision. "The market conditions mean that auction is helping support buyers with quick sales to make Stamp Duty savings and is the current focus of our recruitment efforts. However, we will be creating opportunities in multiple areas of the business as we continue to realise our ecosystem vision to drive real change in the property market." Plans to increase headcount at iamproperty follow several years of the growth, including 2023's investment from private equity backer Perwyn in a deal believed to have topped £100m. Iamproperty was founded by Jamie Cooke and Ben Ridgway in 2009 as they spotted a gap in the market for a property auction service that benefited estate agents and buyers.

'Let's build an industry that reflects diversity': Tech leaders speak out on International Women's Day

There’s still some way to go for women in tech despite the progress of recent years – that’s the message from tech leaders in the North West and beyond ahead of this year’s International Women’s Day. Dr Andrea Cullen, CEO and co-founder at Manchester-based cyber skills company CAPSLOCK, said: “After 30 years in the tech sector, I’ve seen progress in breaking barriers, but challenges remain. “When I studied computer science, I was often one of the only women in the room, and that lack of representation made it hard to envision a clear career path. Today, many women still face this struggle. “Confidence, not ability, remains one of the biggest barriers, with women often feeling unheard and undervalued. I’ve seen how men of all ages often push themselves forward while equally capable women hesitate. This isn’t about skill, it’s about how the industry perceives and supports women in tech. Without strong female role models at every level, breaking into and advancing in the field remains difficult. “While diversity is now part of the conversation, real change requires action. We need diversity at all levels, from schools to leadership positions, and recruiters must rethink hiring practices to ensure they’re accessible and not biased towards traditional university routes. An inclusive sector means creating an environment where women are heard, supported and empowered to lead. “Beyond policy and incentives, organisations need practical steps to drive change. Many want to improve diversity but don’t know where to start, so taskforces providing resources on inclusive hiring and workplace culture can make a difference. We must move beyond conversation and amplify women’s voices, break down barriers and build an industry that reflects diversity.” Linda Dotts, chief partner strategy officer at Warrington-based IT enterprise giant SS&C Blue Prism, said International Women’s Day offered a great opportunity to reflect on the state of women in the technology sector and to plan a more inclusive and equitable future. She said: “Fewer than a third of science, technology, engineering and maths (STEM) jobs (29%) are currently occupied by women. The statistics on female representation in the tech industry can be aggressively improved with better career mentoring in our schools and encouragement from leaders in all aspects of education and business. “Despite the remarkable advancements in AI, data and process automation, cloud computing, and a global talent shortage, we continually see so many talented women leaving the tech industry due to lack of career progression opportunities, female role models or company culture. As AI and other technologies continue to influence the business models enterprises create, a broad mix of developer talent representing the enterprises’ customer base will become even more important. “The barriers preventing women from accessing opportunities in science, technology, engineering, and math are not due to a lack of skills, but rather to persistent misconceptions and biases. The challenge lies in building a culture that values and supports the success of women in these fields. It is about creating an environment where women can excel in various roles, from research and development to leadership and innovation and take risks that drive high rewards of achievement. “As the landscape of IT evolves, embracing a new era for sustainability, it is crucial to recognise the skills required are not bound by gender. Women possess a diverse range of talents essential for driving scientific advancements. This year’s UN assembly’s theme for International Women’s Day is ‘Accelerate Action’, which should prompt us to consider how we can increase momentum and urgency in addressing the systemic barriers and biases that women face, specifically in science and technology.” Senior leaders at Manchester e-commerce giant THG Ingenuity also met ahead of International Women’s Day to discuss what can be done to "accelerate action” and to promote gender equality in the workplace. Hannah Pym, chief brand and marketing officer, said: “It’s about consistency, making small and positive change habitual within the workplace. It’s great to use IWD to shine a spotlight on the importance of gender equality, but the critical action is to champion it every day.” Alex Felton-Crawford, VP of alliances & partnerships, said fostering networks and a sense of community “helps women to connect outside of their day-to-day interactions, both cross-functionally and across levels of seniority. These connections break down silos and barriers to build coalitions that can advocate for change and establish safe spaces where women can discuss challenges and share success strategies.” Cat Mellor, director of creative services at THG Studios, said men needed to step up and use their voices to advocate for women. She said: “Whether it’s putting their name forward for big opportunities, backing them in key meetings, or ensuring they’re included in leadership conversations, these actions make a real difference. Training on unconscious bias, inclusive hiring, and workplace behaviour should go beyond theory and lead to real, actionable changes in how decisions are made.” Jo Drake chief information officer at THG Ingenuity, said companies needed to be steadfast in their support for inclusion. She said: “We need to anchor DEI initiatives and policies into business outcomes. Companies with diverse teams consistently outperform those without, so making the business case for inclusion is essential. The key is to integrate DEI into business strategy and not treat it as a standalone initiative that is seen as someone else’s problem.” Chief commercial officer Lucy Cooper said: “We must fuse individual passion with organisational backing. It starts with speaking candidly about the inequalities we see – calling them out without fear – and then championing practical fixes like inclusive hiring panels and continuous leadership development for underrepresented groups. Momentum thrives on results we can see and replicate.”

Newcastle volunteering app onHand seals £750,000 investment deal

Tyneside volunteering app onHand has secured a £750,000 investment to help companies to improve their corporate responsibilities through its social impact platform. The onHand app was launched five years ago by Sanjay Lobo and has been described as ‘Uber for volunteering’, offering firms a way to engage and support employee wellbeing. It has been used by a number of businesses around the UK to help employees complete thousands of sessions to help local communities. Now Northstar Ventures has led a £750,000 investment round into the social impact platform, with £325,000 invested by the North East Innovation Fund supported by the European Regional Development Fund and £175,000 from Northstar’s EIS Growth Fund, alongside investment by 24 Haymarket. Total investment in OnHand to date now tops over £5m, including two lots of backing from Shazam’s co-founder Dhiraj Mukherjee. Since Northstar Ventures’ initial investment in 2021, the business said it has acquired a diverse array of clients and it has just scooped 22nd place on Deloitte’s Fast50 of fastest growing tech businesses for 2024. CEO and founder Sanjay Lobo recently appointed CFO Will Turner, a proven expert in scaling SaaS metrics, having played a key role in growing Amplience from £3m to £25m in annual recurring revenue. Mr Lobo said: “Delighted to have the continued support of Northstar Ventures, who invested in OnHand at such an early stage, and 24 Haymarket following their initial investment. The next stage for us is helping even more enterprise businesses deliver incredible social impact in their local communities and building a culture of purpose at work.” Naomi Allen Seales, investment manager at Northstar Ventures, said: “It’s no surprise that OnHand is thriving, thanks to their exceptional leadership team. Our investment will support technical improvements to enhance the platform’s gamification and expand user options even further. It will also help the company achieve their ambition of breaking into the enterprise market. We are thrilled to support such an exciting, innovative company, as we recognise the value of corporate volunteering.”

5 South West companies to watch in 2025

The West of England has long been plagued by age-old stereotypes when it comes to its economic contribution to Britain. Of course the region has a thriving food and drink sector and tourism generates billions for the local economy, but it is also a hotbed of innovation and cutting-edge technology. Giants of aerospace, such as Airbus and Rolls-Royce, are major employers in the West Country while there are high-tech start-ups emerging from the universities at rapid rate. Industries such as nuclear, mining, space and marine tech are also flourishing alongside more traditional sectors, such as financial services and law. The South West is also home to nationally significant schemes such as Gloucestershire’s planned cyber development Golden Valley; Somerset’s Hinkley Point C power station and Bridgwater's Gravity campus, where the UK’s biggest gigafactory is being built; and Plymouth and South Devon Freeport. And then there’s Cornwall’s Goonhilly Earth Station and the Spaceport at Newquay Airport, where the UK attempted the first launch of a satellite from British soil last year. Innumerable business success stories have started in the South West, with many big-name companies choosing the region for their headquarters. Among them are ethical bank Triodos and investment firm Hargreaves Lansdown in Bristol; cosmetics brand Lush in Poole; and engineering company Renishaw in Gloucestershire. The region must be celebrated for its achievements in farming, food and hospitality, there’s no doubt, but it’s got so much more to offer as well. With that in mind, here we take a look at five companies we think are worth keeping an eye on this coming year. In no particular order… The North Somerset robotics company has patented technology to automate wire laying processes for anything from fighter jets to cars to washing machines. The firm was founded in 2018 and its tech is used in areas of manufacturing that are still largely carried out manually. Earlier this year, Q5D secured £500,000 from a top private equity firm as part of a £2m investment round. It has used the cash to expand its testing hub in Portishead and support the delivery of contracts. In November, bosses Chris Elsworthy and Simon Baggott picked up the Manufacturing Innovation award at the Robotics and Automation Awards ceremony in London. This B Corp biotech organisation has developed compostable packaging made from seaweed. The company was founded by Bath University professor Chris Chuck and entrepreneurs Neil Morris and Murray Kenneth, and is now based at the Science Creates incubator in Bristol. The business, which has created a coating that can be applied to paper and card, replacing plastic packaging, raised £4.3m in 2024. It is planning to take its product to market this year. The firm said at the time it would use the investment to recruit more scientists, engineers and commercial staff to conduct large-scale pilots of the material it spent three years developing in the lab. This historic Cornish company’s trailblazing approach to heating homes has caught the attention of Westminster. The family-run firm, which operates across Cornwall, Devon, Somerset, and Dorset, has been supplying a hamlet in Cornwall with hydrotreated vegetable oil (HVO) as an alternative fuel for heating for the last four years. A government select committee visited Kehelland last year where the trial is taking place. HVO is made from waste material similar to cooking oil but it is currently taxed at a higher rate than fossil fuels. Mitchell & Webber is hoping to engage further with the government to highlight the benefits of HVO as an alternative renewable fuel. The Exeter company has developed an AI-powered platform to help businesses hire more diversely. It raised £2.1m in a funding round last year which it said would support job creation and the overall growth of the business. The company’s technology helps firms recruit candidates based on their skill set rather than educational background - as well as hybrid and flexible working. It was founded by Sara Hill in 2019 and was named on a list of 10 early-stage companies considered “at the forefront of technology” across the UK in 2021. Since then, it has gone on to receive backing from major investors.

Quartet of Midlands tech companies named among UK's fastest growing

A quartet of Midlands firms has been named among the UK's fastest-growing tech companies. The Sunday Times 100 Tech listing is published today and in this weekend's newspaper and ranks Britain's fastest-growing private technology companies. To qualify, firms must be independent, privately owned and headquartered in the UK and either sell their own proprietary technology or have developed proprietary technology essential to delivering products or services. Among those included is Warwick-based Moasure whose motion-based device allows customers to measure and draw simultaneously across all dimensions, connecting to an app that calculates perimeter, area, elevation and volume. Founder Alan Rock set up the company in 2014 after inventing a small device which aimed to replace traditional methods of measuring a large outdoor space such as a garden or irregularly shaped swimming pool. It now has 12 international websites and ships to nearly 100 countries. It posted revenue of £12.2 million over the past year and enjoyed annual sales growth of 102.91 per cent over the last three years. Moasure was also named in our annual 'Ones to Watch' poll earlier this month which canvasses the opinions of West Midlands business leaders on which companies they expect to be making headlines in the months and years to come. Also in the list is Birmingham-based nutrition firm Rem3dy Health which produces gummy stacks containing a mix of seven different vitamins and minerals based on a customer's individual requirements. Founded by American entrepreneur Melissa Snover in 2019, its main brand is Nourished and it operates from a factory in Digbeth which uses the firm's own patented 3D printing technology. The company posted revenue of £7.6 million in its latest accounts and growth of 100.04 per cent over the past three years while enjoying a foothold in markets such as the US, Japan, Greece, France and Italy. Ms Snover said: "We are thrilled to be included on this prestigious list. It recognises the huge growth we have achieved since we started, just over five years ago. "We have evolved from a previously untried nutrition concept into a truly international company that has a unique place in the wellness sector. "Personalised nutrition is fast gaining popularity among consumers, particularly younger generations and is set to grow by more than 16 per cent a year globally by 2030." Nottingham-based workforce learning platform Thrive is the third highest-ranked Midlands company, posting turnover of £7.3 million in its latest accounts and growth of 80.73 per cent over the last three years. Email newsletters BusinessLive is your home for business news from across the West Midlands including Birmingham, the Black Country, Solihull, Coventry and Staffordshire. Click through here to sign up for our email newsletter and also view the broad range of other bulletins we offer including weekly sector-specific updates. We will also send out 'Breaking News' emails for any stories which must be seen right away. LinkedIn For all the latest stories, views and polls, follow our BusinessLive West Midlands LinkedIn page here. Completing the region's line up is pipe cleaning technology Hygienic Pigging System, also based in Nottingham, whose latest annual revenue is £7 million and sales growth of 28.49 per cent over the past three years. The research found the 100 companies generated sales of £3.2 billion, up by £2.6 billion in the last three years. In total, they employ 20,700 people and have created 11,200 new jobs over the last three years while 82 companies said they planned to make additional hires over the coming 12 months, totalling 4,200 jobs. However, the Midlands region has one of the smallest representations in the list, with only Scotland (three), Northern Ireland (two) and Wales (one) securing fewer spots. Perhaps unsurprisingly, London made up more than half of all entrants (56). Seventeen of the businesses are founded or led by women while 61 were launched within the last decade. Sunday Times business editor Jim Armitage said: "The Government has pledged to kick start economic growth in 2025. "The Sunday Times 100 Tech shows that Britain's technology entrepreneurs are already making progress, creating high-value jobs and delivering cutting-edge goods and services. "These businesses are proof that Britain remains a powerhouse for innovation. The rapid development of AI represents one of the biggest economic opportunities since the internet. "We have seen the Government embrace AI this week but we still need the right support structures put in place to help the entrepreneurs who are harnessing AI to thrive."

Onbuy quits Bournemouth and blames local council in scathing statement

Technology firm Onbuy has decided to leave its Bournemouth base, with the CEO criticising the local council for a lack of industry support. Cas Paton announced on LinkedIn that the company will now primarily operate from London and New York, as reported by City AM. He stated that although Onbuy "will always" maintain an office in the south, it is "no longer a Bournemouth company". Previously headquartered at Dean Park Crescent in Bournemouth, Onbuy is now registered at an address on Great Portland Street in London. The company's latest accounts for 2023 show a revenue increase to £21.5m from £11.7m, and a reduction in pre-tax loss from £10.7m to £8.7m. In the post, Paton said: "As a tech founder, be careful where you setup your business. Not all cities and towns are equal – and some are working against you at every step. We are saying goodbye to Bournemouth." "Bournemouth we tried, but the journey has come to an end and we have to part ways. We really tried to keep Bournemouth our HQ and believed in BCP Council’s vision for Bournemouth and ‘Silicon Beach’ but the truth is, Bournemouth is an under-invested, council-destroyed destination; high streets that are completely deserted, major homeless drug user problem worse than the streets of London or Manchester, a transportation nightmare, and the opportunity cost is just too great." "There is no support for tech here in Bournemouth. The ‘Silicon Beach’ dream was a lie. We say goodbye to Bournemouth. We say hello to London and New York." "We will always have a satellite office in the south, but we are no longer a Bournemouth company. Was fun while it lasted. We will miss the good old days." Cllr Richard Herrett, portfolio holder for destination, leisure and commercial operations, BCP Council, commented: "We know confidence is flowing back into Bournemouth town centre – evidenced by new businesses coming into the town. Just before Christmas we saw the opening of the high-end restaurant The Ivy, and soon we will welcome The Botanist & JD Gyms amongst others, so it’s a shame OnBuy didn’t speak to us, as we’d have been able to share all this positive information with them." "The town has clearly turned a corner, with footfall over Christmas up 12.5% compared to the previous year. We’ve secured a local operator for next year’s Christmas events and activities demonstrating there is a real belief in Bournemouth." "Empty shop units are being brought back into action as we attract more investors into the town centre. At the former Beales and House of Fraser stores we are seeing a mixed use of retail, workspace and accommodation take shape which highlights Bournemouth’s commitment to growth and modernisation. These developments not only enhance the town’s appeal but also creates job opportunities and fosters a thriving local economy." "We are also fortunate to have a thriving and growing creative and digital community in the area, which the Council continues to nurture and support, along with our partners at the universities and college." "Many of these businesses are based in offices in and around the town centre. Together with the success of co-working spaces in Bournemouth such as This Workspace and the recently arrived Patch, as well as The Foundry in Poole, the office community bring further footfall and spend into Bournemouth Town Centre." "We are aware of the challenges facing every high street in the UK, but as a council we are determined to make sure we continue to do our part in supporting our local businesses. We recently awarded £358,000 to make the town centres of Bournemouth, Christchurch and Poole more attractive with projects such as enhancing street lighting additional planters, artwork and events."

IT services firm strikes Birmingham City deal

An IT services company has struck a new deal with Birmingham City FC. Intercity has become the club's official IT support partner for the next three years. The Birmingham-based company will be responsible for upgrading the club's IT systems and cloud servers, providing matchday stadium support and enhancing network connectivity at the training ground among other work. A support engineer from Intercity will also be on site to provide technical support. Intercity has doubled its workforce to 325 over the last five years. This latest deal with League One Birmingham City follows similar tie ups with Warwickshire County Cricket Club and their home of Edgbaston stadium. Chief executive Charlie Blakemore said: "We are incredibly proud to partner with Birmingham City FC, a cornerstone of our local community. "This strategic partnership represents a great synergy between two Birmingham-based organisations with deep and passionate roots in the city. "Our focus will be on helping the football club with its digital transformation, a critical journey that will boost operations and allow them to focus on their performance both on and off the field. "We have always prioritised building strong partnerships within the community and adding Birmingham City to our roster is not only a tremendous honour but a fantastic vehicle for doing good in the local areas we operate in. "There is a real vision and desire from the owners to use football to regenerate places and lives and we will ensure they can do that through the most appropriate use of technology and by driving shared connections in the city." Birmingham City chief executive Garry Cook added: "We took over 18 months ago and the focus was on fixing and building the football club.

Stock rise sees Nvidia challenge Apple for world's most valuable company title

Nvidia's shares climbed 3.4% on Tuesday to $149.43 (£118.95) per share, putting it on par with Apple following a series of product launches at the CES event in Las Vegas. The tech giant unveiled an array of new offerings, including gaming chips, a personal AI supercomputer, and AI models for robotics and self-driving cars, as reported by City AM. Post-announcement, Nvidia's valuation soared to $4.66 trillion (£3.7 trillion), positioning it as the world's second-most valuable company, just behind Apple. Nvidia's CEO Jensen Huang highlighted the company's AI ambitions and potential growth in robotics, gaming, and autonomous vehicles, referring to robotics as a "multi-trillion dollar opportunity" in his keynote speech. This development follows Nvidia's brief stint as the world's most valuable company last year when its market capitalisation reached $3.43 trillion (£2.66 trillion) in November, surpassing Apple's $3.38 trillion (£2.62 trillion). Microsoft currently holds third place. Central to Nvidia's success is the introduction of the RTX 50 series, part of the Blackwell family, announced by Huang. These new gaming chips promise unparalleled performance and are expected to hit the market this month. Analysts at AJ Bell have emphasised the significance of this launch, stating: "The RTX 50 series will use Nvidia’s Blackwell AI technology to support highly detailed, hyper-realistic graphics." "This launch is a reminder that Nvidia is not just about AI; the business’ success was founded on gaming technology, and RTX 50 implies it remains on top of its ‘game", they said. Another significant announcement from Nvidia's CEO Jensen Huang was the unveiling of Project Digits, a desktop AI supercomputer priced from $3,000 (£2,387). Equipped with the new Grace Blackwell Superchip (GB10), Project Digits offers processing power previously exclusive to large-scale data centres. It can manage AI models with up to 200 billion parameters, expandable to 405 billion when two systems are connected. "AI will be mainstream in every application for every industry. With Project Digits, the Grace Blackwell Superchip comes to millions of developers", Huang declared. The compact design, similar to a Mac Mini, aims to make Project Digits accessible to data scientists, researchers, and students. Analysts predict this could significantly speed up AI adoption across sectors from healthcare to manufacturing. "Nvidia has unveiled something that promises to be faster and better than what’s already on offer", commented AJ Bell analysts. Nvidia also revealed advancements in robotics, including AI models for humanoid robots and a partnership with Toyota to incorporate its self-driving car technology. Huang, the CEO of Nvidia, has forecasted that robotics will become "the largest technology industry the world has ever seen", with a market for humanoid robots alone projected to reach $48bn (£38bn) within the next two decades. By utilising its AI chips and software, Nvidia aims to transform robotics in smart factories, warehouses, and autonomous vehicles. Huang declared that the robotics industry had reached a "technological turning point" due to advancements in AI that allow robots to learn more efficiently by simulating and analysing vast amounts of real-world data. Nvidia also launched foundational AI models on its Cosmos platform, which have been trained on 20 million hours of video data.

Virgin Media O2 announces £700 million mobile network upgrade

Virgin Media has unveiled plans for a £700m investment this year aimed at enhancing mobile reliability and speed for its UK clientele. This funding will also enable the broadband behemoth to bolster its 4G and 5G coverage in rural regions, as reported by City AM. As part of its mobile transformation strategy, the company intends to implement thousands of upgrades, including new mobile masts and small cells in urban areas where customers grapple with weak signals. Virgin Media O2 is directing its investment towards locations where connectivity is paramount and where customers have long demanded enhancements. This encompasses rail travel and motorways, with the aim to improve signal strength at stations and reduce dead zones for drivers utilising GPS or streaming on the move. The investment will also extend to live events, stadiums, and city centres, increasing capacity to prevent slow speeds when large crowds are online. The commitment to invest £2m daily will result in fewer dropped calls, quicker downloads, and superior performance in these areas. Virgin Media O2 is also phasing out any obsolete 3G networks that are no longer effective, freeing up bandwidth to enhance faster, more energy-efficient 4G and 5G networks. The firm has also revealed its use of artificial intelligence (AI) to boost efficiency, ensuring customers enjoy a consistently reliable and stronger mobile experience in the forthcoming years. This £700m upgrade to the mobile network forms part of Virgin Media O2's broader £2bn investment in connectivity for 2025, encompassing both mobile and broadband services. The announcement comes in response to a significant surge in mobile network demand, which has hit an unprecedented high, with traffic more than doubling over the past five years. Jeanie York, Chief Technology Officer at Virgin Media O2, stated: "We know how frustrating patchy signal can be, so we're making sure our customers get the reliable, high speed mobile service they expect – whether they're commuting, working, or just streaming on their sofa." She further added, "This investment isn't just about upgrades, it's about creating a network that's ready for the future". In contrast, the government unveiled a £23m investment in telecoms research and development on Monday. Since its £31bn merger in 2021, Virgin Media O2 has emerged as one of the nation's largest and most innovative telecom providers. Coupled with O2's mobile network, the company is now a key contender in fixed and mobile connectivity, vying directly with BT, EE, Vodafone, and other major providers.

Cirata boss hails improvements but admits disappointment at headline figures

The boss of data tech firm Cirata says the business has improved on "almost every metric" but has admitted the turnaround has taken a toll on staff. Stephen Kelly, who was brought in to rescue the business in 2023, said he believed much of the hard work had been done and that FY2025 heralded a growth phase. A trading update for the final quarter of last year shows Cirata bookings of $3m (£2.4m) at their strongest since Q2, 2022 thanks to a new contract with a "top three" US bank customer. The Sheffield company's partnerships were now said to be on a stronger commercial footing, and its engineering team now better aligned with the demands of customers. Data integration work, which constitutes 66% of the 2024 bookings total, is thought to be the future of the business with Q4, 2024 bookings of $2.3m (£1.87m). Mr Kelly highlighted some disappointment around establishing greater sales predictability, and slippage on contract closure. Weaker than planned performance in Cirata's international and DevOps businesses resulted in a "disappointing headline outcome for Q4 and the full year". Cash overheads were reduced by about $4m (£3.2m) at the end of the first quarter, 2025. Looking ahead, the firm wants to strike a balance between preservation of long-term working capital and growth initiatives. Mr Kelly said: "This management team came together to drive value creation for shareholders. Phase 1 in FY23 was a company rescue phase. Phase 2 in FY24 was the recovery phase and with the recent cost reductions, this phase is completed. "With FY25, the company is moving into it's growth phase. Q4FY24 brings to a close a year in which we have done much to rearchitect, restabilise and reposition Cirata for more predictable, sustainable growth. The business is improved on almost every metric. We are driving growth in our key Data Integration product on a significantly reduced cost base.

Grimsby's Card Industry Professionals acquired by US-based tech firm Shift4

Payments tech firm Card Industry Professionals has been acquired by New York Stock Exchange-listed Shift4 in an undisclosed deal. The Northern Powerhouse Investment Fund (NPIF)-backed business has become part of Shift4's global operation which processes $260bn of transactions annually. The deal represents an exit for Mercia Ventures, which backed the firm in 2022 to the tune of £850,000 using NPIF and Midlands Engine Investment Fund money. Card Industry Professionals was launched in 2017 by young entrepreneur Ciaran Savage, who was joined by his month, Lyn Savage as operations director and John Selby as sales director. The Aylesby-based firm now employs 20 people and has a network of more than 150 sales agents, and processes more than £60m of transactions each month. Ciaran Savage, founder and managing director, said: "We are excited to be joining the Shift4 family. We are committed to upholding the company values and best-in-class service customers have come to expect from us and are confident that this acquisition will allow us to improve upon those service levels, while offering even more value in the form of new benefits, incentives and product offerings." Maurice Disasi of Mercia Ventures added: "We’re delighted to have supported CIP on its growth journey. Ciaran and the team have built a business with first-class customer support and Shift4 now has the benefit of adding a strong and well-respected team here in the UK as part of their global operations. We wish the team continued success."

Vodafone's share price drops 6% despite revenue growth as firm faces challenges in Germany

Vodafone shares have taken a hit of over six per cent in early trading today, following the release of the FTSE 100 giant's third-quarter results. Despite reporting an overall service revenue growth of 5.2 per cent for the quarter, surpassing the average analyst estimate of 4.2 per cent, the company noted that the migration of 1&1 customers in Germany has been slower than anticipated, as reported by City AM. The telecoms heavyweight reported a 2.2 per cent increase in adjusted EBITDA to €2.8bn (£2.3bn) for the quarter and reiterated its full-year guidance for an adjusted EBITDA of approximately €11bn and an adjusted free cash flow of at least €2.4bn. Vodafone's CEO, Margherita Della Vale, commented: "With service revenue growth accelerating to 5.2 per cent, we are making good progress in our transformation." Matt Britzman, senior equity analyst at Hargreaves Lansdown, observed: "The signal’s getting stronger at Vodafone, with service revenue growth exceeding expectations, thanks to dialled-up performance in the UK, Africa, and Turkey. But Germany remains a dropped call, weighing on overall performance." He added: "The €8bn Italy sale is in the bag, and the UK merger with Three has the green light, setting Vodafone up for a network-wide reboot with scale and cost synergies." "With €2bn in share buybacks on speed dial and over €2.4bn in free cash flow expected for the year, the case for good returns is still alive and well – but investors will want to keep an ear out for static from Germany’s ongoing struggles," said a spokesperson regarding Vodafone's UK merger. "The approval of the UK merger", she continued, marked "a significant reshaping of our portfolio", Della Vale added. In December 2024, the UK’s Competition and Markets Authority (CMA) gave the green light to the merger of Vodafone UK and Three UK. The transaction, which is anticipated to be completed in the coming months, will result in the UK’s largest mobile operator. Vodafone will retain a 51 per cent stake, with CK Hutchison, parent company of Three UK, owning the remaining 49 per cent. Albie Amankona, analyst at Third Bridge, commented ahead of today’s results: "The Vodafone-Three merger unlocks significant cost efficiencies through network integration. By consolidating infrastructure, the new entity can reduce maintenance expenses and strengthen its competitive position against BT-EE and Virgin Media O2." However, he noted that "Vodafone’s lack of exclusive content remains a weakness, as rivals continue to leverage proprietary entertainment services to drive customer retention". Despite these strategic moves, Vodafone continues to face pressure in an increasingly competitive market. Its share price has struggled over the past decade, and while progress is evident, analysts remain divided on its long term outlook. Vodafone's share price has seen a significant drop of 54.76% over the past five years, yet it has shown stability in the last year with an increase of 4.39%. Richard Hunter, head of markets at Interactive Investor, commented: "Vodafone’s transformation is well underway, but turning around a business of this scale takes time."

Lab firm BioGrad hopes women's health centre could find treatments for 'neglected' conditions like endometriosis and PCOS

A Liverpool lab firm says its pioneering new women's health centre could help researchers find treatments for often-neglected conditions like endometriosis and PCOS that have historically seen a lack of research and investment. Lab testing firm BioGrad has opened Europe’s first private women’s health research tissue bank as part of a £25m investment -- and says the site could be a "gateway to revolutionising women’s health" and in tackling inequalities in healthcare. The site aims to carry out research into women’s health issues including polycystic ovarian syndrome (PCOS), endometriosis, menopause and certain types of cancers. BioGrad says: “Historically, women’s health research has been underfunded. This has led to an underrepresentation of women in scientific research meaning women’s diseases have been notably neglected or misdiagnosed. In the case of more general diseases that impact both men and women, men are also more likely to receive more advanced diagnosis, with women also experiencing significantly longer diagnostic delays compared to men.” The centre will be led by an all-female team of experts, led by Dr. Sherin Pojar, who will also work with local hospitals including Liverpool Women’s Hospital as part of their sample collection work. The 10,000 sq ft facility will collect and store menstrual blood, peripheral blood, umbilical cord tissue, and umbilical cord blood. Now the centre is calling on women in the Liverpool city region to take part in the research by donating samples. The move to tackle health inequalities has been backed by governments past and present. Launching the Women’s Health Strategy in 2024, former health secretary Victoria Atkins said: “We are breaking historical barriers that prevent women getting the care they need, building greater understanding of women’s healthcare issues and ensuring their voices and choices are listened to.” Labour’s health and social care secretary Wes Streeting has also discussed the need to tackle health inequalities, saying the UK needs to ensure women are no longer “treated like an alien species with rare conditions when they turn up with things like menopause, PCOS and endometriosis.” Dr Natalie Kenny, chief executive at BioGrad, said: "For far too long women’s health has been an afterthought in scientific research. At BioGrad, we are proud to be leading the charge in changing this narrative. By opening Europe’s first dedicated private women’s health research tissue bank, we are not only addressing a critical gap in medical research but also empowering women to play a direct role in advancing healthcare and patient outcomes. "For many, women’s health is an enigma - it is a complex maze articulating the difficulties women encounter in communicating and confirming their pain as well as understanding the intricacies of illness such as endometriosis and PCOS, and often the institutional disregard for health issues that directly affect women. "Our mission is to challenge this, creating research that improves health outcomes for women, closing the gender gap and establishing the UK as a global superpower in science and technology by 2030." Lynn Greenhalgh, medical director at Liverpool’s Women’s Hospital, said: "Liverpool Women's Hospital is delighted to support BioGrad in the creation of the Women's Health Research Tissue Bank. The tissue bank will create a resource for the North of England for researchers in Women's health which will allow quicker access to samples for research. This will enable more women to benefit from a greater understanding and potentially new treatments for women's health problems that affect such a large part of the population.”

Sheffield data specialist Cirata seals $2m deal to support major US bank

Sheffield data firm Cirata has announced a deal worth around $2m with IBM which will support a top three US bank – its biggest contract since the firm restructured last year. The business – which also has offices in Newcastle, Belfast, California, China and Japan – said the live data migrator (LDM) contract is the biggest of its kind with IBM to date, and will start on December 31. Cirata said it sees the contract as the “next step” in its ability to provide long-term support to the banking customer as it builds out its data architecture and implements Cirata’s product “into one of the most demanding enterprise environments”. The firm said: “The LDM contract also represents the first transaction completed under the terms of the new OEM agreement to integrate Cirata’s LDM technology inside IBM’s Big Replicate solution, previously announced on 2 October 2024. This will be the largest value contract for LDM since the restructuring of the company in March FY23, the largest LDM contract to date in financial services and the largest implementation through the IBM Big Replicate platform. Following the deal announcement Cirata said it had withdrawn its financial year 2024 bookings guidance, due to some major customers opting for one-year terms rather than multi-year terms, as well as movement of pipeline opportunities and bookings from the end of this financial year into the first half of 2025. New guidance will be issued in its regular quarterly trading update. Stephen Kelly, CEO of Cirata, said: “Cirata has set itself the challenge of delivering its LDM product to meet the needs of the most demanding enterprise technology environments. The announcement of the LDM contract through IBM Big Replicate proves Cirata is well positioned to meet those needs. We look forward to shaping a long-term relationship with this top 3 US bank as they build out their data architecture in response to the rapidly changing AI and Machine Learning landscape. “The recent renewal of our OEM agreement with IBM set the stage for the closure of this LDM contract, and so the win itself is doubly important. It is not only the largest transaction in the Company’s history for LDM within financial services, it is also the largest implementation of LDM for Big Replicate through our highly valued partner IBM. “While today’s announcement is a clear signal of our technology’s capabilities and our own ability to build commercial trust, it is also a reminder that large contracts can make our business lumpy and that forecasting has indeed proved challenging. In parallel with the announcement of this new contract, Cirata withdraws its FY24 bookings guidance. This is mainly due to the LDM contract and one other contract being of a one-year rather than a multi-year term and the movement of pipeline opportunities and bookings expectations from Q4 FY24 to H1 FY25, which has caused a sufficiently wide variation to expected outcomes for bookings. Our focus continues to be on the long-term potential of our support for this top US bank, our partner IBM and our other customers. “I thank our colleagues for getting us towards the end of the recovery phase of the company. We inherited a broken business from a peak annualized cost base of $45m per annum to a company exiting FY24 with a cash overhead of circa $20m per annum. Our cash burn in Q1FY23 was an unsustainable $11m per quarter and as we exit Q4, Cirata will be on a path towards cash flow breakeven. "That adjustment has involved more than halving the workforce, with all the trauma that entails. However, our colleagues are responding to that challenge by building and hardening a differentiated product and selling successfully into one of the most demanding environments in IT. The Data Integration product performance has improved from -87% decline in Q1FY23 to 180% growth in the last reported quarter, Q3FY24.