Startup tackling fake news with artificial intelligence Factmata nets funding to expand March 8, 2018 A startup using artificial intelligence (AI) to tackle the proliferation of fake news and extremist content online will expand after closing a $1m (£720,000) seed funding round that attracted major US backers. London-based Factmata’s funding round was led by tech entrepreneur Mark Cuban, but also attracted high-profile investors such as Twitter co-founder Biz Stone, internet [...]
Meet the seven startups joining Facebook’s London incubator LDN_LAB February 22, 2018 A gym where users also help their community and an app for mums are just two of the seven up-and-coming startups to join Facebook's startup incubator in London which opens its doors this week. Goodgym and Mush will be joined by Olio, a startup connecting neighbours and local shops to share surplus food, and Teacherly, [...]
Microsoft opens Shoreditch startup space Reactor February 22, 2018 Microsoft is the latest company eyeing up London's hot shot startups with a $20m (£14.3m) investment in a new space in Shoreditch, opening today. Reactor will host the Silicon Valley tech giant's accelerator for scale-ups, along with a space for events such as hackathons to help grow the capital's startup ecosystem. Read more: Robot bookworms? [...]
UK startups are growing by nearly a third every year February 21, 2018 The 500 most successful startups created in the UK over the past six years have grown at an annual rate of 30 per cent a year, according to new research. Those that went on to IPO grew at an even faster rate of 43 per cent, the analysis by SyndicateRoom and Beauhurst reveals. But it [...]
Digital challenger bank Tandem has launched its first product – a credit card February 20, 2018 Fintech startup Tandem is launching its first product to the public – a credit card. It's also the first digital challenger bank to offer a credit card, with others such as Monzo and Starling initially diving into current accounts. Read more: Bob Diamond's private equity firm is eyeing up digital challenger Tandem The card will [...]
A new fintech accelerator is launching in London as Investment Association plans VeloCity February 19, 2018 London is getting a new tech accelerator that will focus on fintech, in particular startups looking to shake up the asset management industry. VeloCity will be launched by the Investment Association later this year to bring innovation to the industry. Read more: Maybe it’s time we ditched fintech? Members of the group, which represents more [...]
Transport for London to crackdown on Uber and private hire licence with new rules February 15, 2018 London's transport regulator has promised to get tough on Uber and other ride-hailing companies, admitting that current rules are failing to keep up with technological developments. New plans could include women-only car sharing options and forcing innovative companies to share their data, as well as granting permission to operate only for limited periods of time. [...]
The $13bn investment firm Varde Partners has just taken a stake in London proptech startup funder Pi Labs February 15, 2018 The London property tech, or proptech, scene is grabbing attention across the globe, as the $13bn (£9.4bn) US investment firm Varde Partners has today scooped a stake in venture capital firm Pi Labs, City A.M. can reveal. London-based Pi Labs, which closed its second $10m fund last year, focuses on scaling up early-stage proptech firms [...]
Digital Innovators: Q&A with BenevolentAI founder and chairman Ken Mulvany February 13, 2018 BenevolentAI is a tech company which applies AI to accelerate scientific discovery. Last year BenevolentAI was identified as one of 50 of the freshest and most inspiring digital companies using technology and innovation to shake up their sectors in our Digital Innovators Power List. Following a public vote and after careful consideration by supporting partners [...]
A new fintech bank led by a former hedge fund boss has just raised £70m through a float on the London Stock Exchange February 13, 2018 Trufin, a niche technology-enabled bank run by a former hedge fund boss, has just floated on the London Stock Exchange this morning to raise £70m. The fintech-focused business has three divisions including DFC, a short-term lender focusing on financing supply chains, Oxygen Finance, which helps provide early payments to the UK public sector, and Satago, [...]