UK Tech
Aug 3, 2026
UK Chip Startup Olix Raises $312M at $3.3BN Valuation
Olix, a two-year-old UK chip startup, has closed a $312M Series B at a $3.3BN valuation — more than tripling its worth since February. The company is developing an optical digital processor designed to displace Nvidia's generalist chips with specialised silicon for AI inference workloads.
AI
Hardware
Startups
Jul 27, 2026
UK Pension Giants Back £1bn Scale-Up Tech Fund
A consortium of UK pension funds, including Railpen and Nest, is working with the British Business Bank to launch a £1bn Scale-Up Fund aimed at backing homegrown tech companies. The move comes amid growing pressure to reduce British startups' dependence on foreign late-stage capital — and just weeks after France moved to block UK access to the EU's rival €5bn Scaleup Europe Fund.
Venture Capital
Startups
UK Tech
Jul 20, 2026
Bezos, UK Sovereign Fund Back CuspAI's $450M Series B
Cambridge-based CuspAI has closed a $450M Series B co-led by Kleiner Perkins and NEA, with notable participation from Bezos Expeditions and the UK government-backed Sovereign AI Fund. The round values the two-year-old materials discovery startup at $2.6B — a five-fold jump in under a year. Founding partners of its new AI Materials Foundry include Nvidia, Meta, Samsung, and Hyundai.
AI
Funding
Startups
Jul 6, 2026
Thought Machine Lands $41M, Crosses $100M Revenue
UK cloud banking fintech Thought Machine has quietly secured £80M in total funding — including £30M from an unnamed Tier 1 bank client — while crossing $100M in annual revenue for the first time. CEO Paul Taylor says an IPO is at least two years away and argues revenue is a better success metric than valuation.
Fintech
Funding
Cloud Banking
Jul 2, 2026
BidScript Tops $1M Pre-Seed for AI-Powered Tendering
UK-based BidScript has closed an $800,000 funding round, pushing its total pre-seed capital past $1 million. The AI-native platform helps businesses find, manage, and submit bids for public and private sector contracts — with early customers reporting win rate improvements of up to 50%.
AI
Funding
govtech