This UK cyber security startup just landed $65m July 6, 2016 A UK-founded cyber security startup backed by Mike Lynch, who sold his previous business to HP for billions, has landed millions of pounds in new funding from investors. Cambridge and San Francisco-based Darktrace has closed a $65m (£50m) round of funding lead by Wall Street private equity giant KKR. TenEleven Ventures and SoftBank's SB ISAT fund are new investors [...]
More still needs to be done to help public protect themselves from fraud and cybercrime July 5, 2016 People are still not being given the tools they need to protect themselves from fraud and cybercrime, a report out today has found. The study from the Fraud Advisory Panel raised concerns that many of the shortcomings in fraud prevention 10 years ago still prevailed today. In particular, the report took issue with poorly resourced police departments, [...]
Post-Brexit passporting questions hang over fintech too July 5, 2016 The question of passporting hangs over fintech startups as well as banking in a post-Brexit world. Half of fintech firms in the UK stand to lose access to the European market handed to them by passporting. A snap survey of around 100 members of industry body Innovate Finance following the referendum result found half are authorised [...]
European Commission approves new cyber security initiative and funding July 5, 2016 The European Commission wants EU member states to work together on cyber security. The European Union's executive body has signed an agreement that'll have member states funding and working together with private groups to prevent cyber attacks. There have been repeated warnings over the vulnerability of both private and public institutions in recent months. And it seems we're [...]
iPhone builder plans float for cloud unit that could raise $1bn as demand for data transfer products soars July 5, 2016 The builder of Apple's iPhone has filed to float its cable and connector unit in Hong Kong in a deal that's thought could raise as much as $1bn (£765m). Taiwanese firm Hon Hai Precision Industry – known as Foxconn Technology Group – assembles most of Apple's iPhones and many of the other smartphones in use around the world. The planned initial public offering [...]
Could AI halt blindness? DeepMind and this London hospital are finding out July 5, 2016 DeepMind, the pioneering British artificial intelligence company owned by Google, is researching how the technology may help save people's sight in a new partnership with leading London eye hospital Moorfields. The firm's machine learning technology, which has already demonstrated its ability to beat humans at the chess-like game Go, will be used to analyse two [...]
More people are searching for Irish family ties after Brexit July 5, 2016 If you've considered trying to track down some long lost family from the Emerald Isle in the past week or so, you're certainly not the only one. In the wake of the Brexit vote, one website specialising in tracking down your roots has experienced a spike in searches for Irish heritage since 23 June. Membership of Ancestry.com [...]
Apple supplier Imagination Technologies swings to biggest ever loss July 5, 2016 The shine has worn off Imagination Technologies after swinging to its biggest ever loss in a tough market just months after being courted by tech giant Apple. The figures The chip maker swung to an pre-tax loss of £61.5m for the year to the end of April, down from a £5.7m loss the previous year. Revenue slipped 23 per cent to £120m [...]
Multinationals warned over risk of cyber attacks July 5, 2016 Large multinationals are being warned over their preparations against cyber attacks. Companies have admitted to feeling constrained by regulation, resources, and dependence on third parties, with only a fifth of IT decision makers confident they are able to deal with the growing threat of cyber-criminals. Research from KPMG and BT found that almost half (47 [...]
Crowdcube is eyeing a massive new round of investment via crowdfunding July 4, 2016 Crowdcube is defying the Brexit jitters raising its own new round of funding via, where else, but its own round of crowdfunding. One of the early pioneers of the equity crowdfunding concept, the site has revealed ambitious new plans to raise more than £5m from investors. “In just five short years we have firmly established our position as [...]