Bite-size news and insight from UK business and tech – including funding, deals and appointments
Published: May 18, 2026 at 10:48 pm
The last time I was in the States I was 21 years of age and known as Coach Jonathan.
A quarter of a century on, I’ve exchanged soccer camps for a technology convention – but the hot wind that hit me when I stepped out of the airport in Las Vegas yesterday took me right back.
All checked in at The Venetian and ready to check out the world-famous Strip, I was stopped in my tracks by the mother of all dust storms and had to retire back into the hotel!
Luckily hotels here are not like anywhere else so there was no danger of becoming bored: the resort contains bars and restaurants, a pool complex, shopping mall, a huge casino and even gondolas moving through waterways. The sight from my hotel room of a golden Trump Tower rising against the backdrop of the desert and mountains was another reminder of the excess of the place.
The sense of scale continued this Monday morning when I entered the immense convention centre – again, within the confines of The Venetian – where Dell Technologies World is taking place.
Joining Michael Dell, founder and CEO of Dell Technologies, on stage for the ‘Unleash the Future’ keynote were leaders at several world-leading companies that are working directly with Dell to harness the power of AI.
But it was the arrival of Jensen Huang on stage which really got the packed main stage audience buzzing. Huang is the founder and CEO of chipmaker NVIDIA, which started out making graphics chips for PC games but is now the world’s most valuable company. It is the partner for Dell’s AI Factory solution now used by more than 5,000 customers worldwide.
In his trademark leather jacket, Huang said the top software engineers of today are working with an AI agent to generate code before validation and deployment at a speed which would have been unthinkable a few years ago – but the engineers of the future will orchestrate entire teams of AI agents to unlock insights across every workload.
Published: May 18, 2026 at 4:54 pm
Climb26, the flagship business festival created by ClimbUK, is returning to Leeds in July.
The event will return to the Royal Armouries Museum and Leeds Dock on July 1 and 2, bringing together thousands of entrepreneurs, investors and business leaders.
Now in its fourth year, the festival has built a reputation for doing things differently.
Rather than relying on celebrity keynote speakers, Climb26 puts experienced founders, operators and investors on stage to share honest insights and practical lessons from building and scaling businesses.
The festival was created to tackle some of the biggest challenges facing UK entrepreneurs, including unequal access to investment and networks.
Gordon Bateman, founder of ClimbUK, said: “We created ClimbUK because we believed ambitious businesses outside London deserved better access to investment, expertise and opportunity.
“Too many business events feel predictable and inaccessible, with the same speakers and the same audiences year after year.
“ClimbUK was designed to be different and our goal is simple: for every attendee to leave with new ideas, valuable connections and greater confidence to take the next step in their business journey.”
Published: May 18, 2026 at 4:30 pm
NatWest Group has announced a £20bn funding commitment over the next 10 years to drive economic growth across the North of England.
The commitment, announced today by NatWest Group’s CEO Paul Thwaite at the Great North Investment Summit, forms part of the bank’s Growing Together plan to drive UK economic growth by backing powerful regions.
The £20bn ambition will support investment in areas that underpin regional growth and resilience, including energy, transport, infrastructure, regeneration and housing.
NatWest Group will do this by providing direct funding, sharing risk with partners and helping bring in investment from other sources.
Paul Thwaite, CEO of NatWest Group, said: “This commitment reflects our confidence in the North as a growth engine for the UK.
“We can see the strength of ambition across the region, and the scale of projects coming forward in housing, transport, energy and infrastructure.
“NatWest Group has deep roots in the North and an on-the-ground presence across its many communities, so we understand both the opportunity and what it takes to deliver it.
“Our role isn’t just to provide finance, it’s to connect capital with local ambition – working in partnership with combined authorities, business and investment partners to accelerate growth.”
Published: May 18, 2026 at 4:18 pm
Siemens has appointed Brian Holliday as its new chief executive officer (CEO) for the UK and Ireland.
Holliday succeeds Carl Ennis and will take up the role on June 1st.
He will lead Siemens’ strategy and engagement across the UK and Ireland, where the company employs 12,000 people and generated £4.6bn in revenue in the 2025 financial year.
Holliday has worked for Siemens for more than 32 years in a variety of technology and leadership roles.
He has worked with companies across the industrial spectrum to create value through technology.
He will continue as managing director of Siemens Digital Industries and builds on more than 10 years as a member of the UK and Ireland senior leadership team.
Holliday said: “I’m honoured to take up this position at a time of significant change, where technology and talent can make a real difference.
“I’ve always been proud of our people and inspired by the commitment and sense of purpose across our UK and Ireland organisation, so I’m genuinely excited to lead this strong team.
“With global leadership in industrial technology and AI, as well as the partnerships we’ve developed, Siemens is well placed to help our customers improve their competitiveness, resilience and sustainability.”
Published: May 18, 2026 at 11:10 am
Searchable, the AI performance marketing platform helping businesses compete in AI-driven search, has raised $14m (£10.5m) in funding led by global venture capital firm Headline.
The latest funding round values the company at $85m (£63.75m) and comes just 10 months after it was incorporated.
Searchable has achieved annual recurring revenue of $2.6m (£2m), and the new investment from Headline follows a $4m funding round led by Freestyle in December 2025.
The company has reached $100,000 in monthly recurring revenue, onboarded more than 500 paying customers, and converted five blue-chip companies from incumbent SEO platforms within 60 days.
Serial entrepreneur Chris Donnelly, who sold SEO agency Verb for $25m and scaled Lottie.org to a nine-figure valuation, said: “Search is going through a once-in-a-generation reset. When an AI assistant recommends your brand, customers arrive with more intent, more trust and a shorter path to purchase.
“Based on our own data, customers convert at three times the rate when they arrive from ChatGPT and other LLMs. If you aren’t visible in those answers, you’re giving ground to competitors every day.”
The company operates across New York and London.
Published: May 18, 2026 at 9:02 am
Ojan Rohani has joined fast-growing environmental consultancy Contollo Group as its new chief financial officer.
Ruth Percival founded NorthEdge-backed Contollo Group in 2024 and has already grown it to 230 staff and £35m turnover through a string of acquisitions.
The business has ambitious plans to double in size by the end of 2026, and the appointment of Rohani as CFO further strengthens Contollo’s senior leadership team.
Contollo Group CEO Ruth Percival said: “Ojan brings exactly the blend of technical expertise, transaction experience and strategic leadership we need as we continue to scale at pace.
“His track record in building finance functions, integrating acquisitions and supporting high-growth organisations will be invaluable as Contollo enters its next stage of expansion.”
Contollo has completed multiple acquisitions to date, including Abacus, MBA, TACE, ESP and KAM.
Rohani brings a strong blend of Big Four audit training, private equity experience and hands-on operational leadership in high-growth, multi-division organisations.
Published: May 18, 2026 at 8:49 am
Serial entrepreneur Ranjan Singh, founder of HealthHero, says people need to be careful whose advice they listen to.
He’s come up with four truths he thinks every founder needs to know before starting a business.
Singh wrote: “None of this is a reason not to do it. Building something meaningful is one of the most worthwhile things a person can do with their working life.
“But go in clear-eyed about what it really requires, not what the conference circuit claims it does.
“The advice around entrepreneurship is loud, sometimes inauthentic and almost always delivered by people trying to impress.
“It’s time we had quieter conversations grounded in reality, conversations that are reflective and honest.
“To succeed as early-stage entrepreneurs, we need role models we can relate to, not people we simply aspire to become.”
Published: May 18, 2026 at 8:41 am
A mix of established names and rising stars have been named as regional finalists in the 2026 EY Entrepreneur of the Year Awards.
A total of 110 entrepreneurs from 90 companies have made the list across five regions: London, South, Midlands, North and Scotland.
They include Marisa Poster, Teddie Levenfiche and Levi Levenfiche, co-founders of viral matcha brand PerfectTed, which has been backed by Dragons’ Den star Steven Bartlett.
Peter Cliff and Jos van der Steen, co-founders of Manchester-based CONDUCTR, have also made the list. The startup has grown turnover to £26m and staff numbers to 100 in four years, and Cliff and van der Steen recently shared their story on The Naked Founder podcast.
Amy Knight, founder of Must Have Ideas, has reached the regional finals in the South. She launched one of the UK’s fastest-growing ecommerce retailers in 2018, and it now serves more than 10 million customers.
The UK finalists will be announced in October, with the awards evening taking place in November
Last year’s UK winner was GLAS founder Mia Drennan, who will represent the UK at the EY World Entrepreneur of the Year later this month.
Published: May 15, 2026 at 9:14 am
Iceotope Group, a leading provider of precision liquid cooling technology solutions, has closed a £20 million Series B funding round.
The investment was led by Two Seas Capital and Barclays Climate Ventures along with participation by existing investors Edinv, ABC Impact, Northern Gritstone and British Business Bank.
The Sheffield firm will use the funding to advance product and engineering development, expand its patent portfolio and accelerate ecosystem partnerships that will bring solutions incorporating Iceotope technology to market.
Published: May 15, 2026 at 9:05 am
Multiverse has raised around £52 million in primary funding to drive growth across Europe.
The London firm, which achieved unicorn status in 2022 after securing a valuation of around £1.4 billion in a funding round, is valued at £1.57bn by the new strategic investment, which was led by Schroders Capital.
Originally launched as a business focused on matching people without university degrees to employers offering apprenticeships, the firm has evolved significantly in recent years.
Its core focus is now on retraining and upskilling employees already in work – many of them mid-career professionals – with a particular focus on AI and tech adoption.
Participating in the latest round were existing investors including General Catalyst, Lightspeed Venture Partners, D1 Capital Partners, Index Ventures, Bond and StepStone Group.
The investment will accelerate Multiverse’s expansion across Europe. It completed the acquisition of Berlin-based data and AI training company StackFuel in January 2026.
Published: May 15, 2026 at 7:32 am
AI founders feature throughout The Sunday Times 40 Under 40 Rich List for 2026.
This year’s 40 Under 40 list showcases British talent across fashion, business and technology as well as music, sport and entertainment – and a third of them built their fortunes through AI startups.
For example, ElevenLabs, the synthetic voice developer backed by the Hollywood star Matthew McConaughey, is now worth £8.1 billion — three times as much as 12 months ago — pushing the Polish techies Piotr Dabkowski and Mati Staniszewski, both 31, into joint third.
Making the top 10 are Alex Kendall, founder of driverless car tech firm Wayve, which is worth $9bn after raising more than $1.5bn recently and this week signed a Government contract; and Herman Narula, founder of virtual worlds firm Improbable.
Wayve co-founder Amar Shah is 18th, while Victor Riparbelli and Steffen Tjerrild of Synthesia are 25th. Barney Hussey-Yeo, founder of FinTech Cleo, features in 30th.
Daniel Knight, founder and game director of Southampton-based Kinetic Games – the independent studio behind the hit horror game Phasmophobia – and now Kinetic Publishing is worth £160m.
Guest BBC Dragon Susie Ma of Tropic Skincare re-enters the list with a £100m fortune.
Published: May 14, 2026 at 1:58 pm
Cybersecurity software vendor AppCheck has secured a minority investment from private equity investor LDC, part of Lloyds Banking Group, to support its organic growth journey.
Headquartered in Leeds, AppCheck provides dynamic application security testing and a vulnerability discovery solution that helps businesses to detect and resolve cybersecurity issues before hackers can exploit them.
Its product scans web applications, APIs and IT infrastructure for vulnerabilities on live systems – identifying security gaps that traditional tools miss and allowing businesses to fix problems proactively.
Published: May 14, 2026 at 11:46 am
A listed AdTech company has plunged into administration.
The virtual in-content advertising technology company, founded in 2015, failed to secure emergency funding while a US joint venture has failed to perform.
On 29th April 2026, Mirriad Advertising plc announced the appointment of administrators to its UK operating subsidiary Mirriad Limited.
It has since become apparent that a number of key supplier and employee contracts are held by Mirriad plc rather than Mirriad Limited: the directors of Mirriad plc have therefore resolved to place Mirriad plc into administration ‘in order to protect and preserve value for creditors and stakeholders’.
Philip Reynolds of FRP Advisory and Robert Ferne of Begbies Traynor have therefore been appointed as joint administrators of the company.
Published: May 14, 2026 at 9:34 am
Future plc has reported a startling drop in profits in its half-year results as revenue also fell.
The Bath-headquartered media firm said for the six months ended 31st March 2026, group revenue was £349.1 million, down 8% on the corresponding period a year earlier.
Profit before tax dropped 67% from £56.6m to £18.4m.
The FTSE-listed owner of titles spanning tech, gaming, homes and lifestyle – which owns TechRadar – promoted former CTO Kevin Li Ying (pictured) to the top job in March 2025 months after CEO Jon Steinberg said he would leave the role.
Later in the year, chair Richard Huntingford announced that he would step down after the annual general meeting in February 2026, ending an eight-year stint leading the board.
In January it announced that it had acquired women’s fashion and lifestyle publisher SheerLuxe Ltd and BLUSH Talent MGMT in a £39.9m deal.
Published: May 14, 2026 at 9:07 am
A UK company aiming to build a chip to deliver exponential performance improvements for AI models has raised £160 million funding.
Fractile, which in 2024 exited stealth with £12m in seed funding, was founded in 2022 by artificial intelligence PhD Walter Goodwin.
It has developed a radically different approach to the design of chips for AI inference that it claims can deliver transformational improvements in performance for frontier AI models in deployment.
Published: May 14, 2026 at 8:47 am
A London AI firm has emerged from stealth with a mammoth £480 million funding round which values it around £3.5 billion.
Recursive Superintelligence, founded in 2025, is a team of former research leaders from OpenAI, Google DeepMind, Meta AI, Salesforce AI and Uber AI.
The secretive company, which has no associated members on LinkedIn, confirmed the funding deal on the social media platform. It said the round was led by GV (Google Ventures) and Greycroft, with major participation from AMD Ventures and NVIDIA.
Published: May 13, 2026 at 1:16 pm
Palatine-backed fulfilmentcrowd, a tech-led global fulfilment provider, has acquired Fulfilment.nl, a high-growth Dutch eCommerce logistics specialist.
The deal accelerates the group’s expansion in the fast-growing EU omnichannel eCommerce market.
The transaction is expected to enhance margins through economies of scale, cost synergies and shared technology. The combined network will span seven fulfilment centres across the EU, increasing capacity and operational efficiency.
Published: May 13, 2026 at 1:10 pm
Procentia, a provider of pension administration software and technology, has announced the appointment of Jen Tippin as group CEO.
Tippin will join Procentia at the beginning of September, succeeding Liam McGrath, who is stepping down at the end of June.
She most recently worked at NatWest Group as group COO, delivering major strategic change, strengthening customer focus and championing innovation across the bank.
Tippin has also held a number of senior roles at Lloyds Banking Group, including group director, people and productivity.
She brings strong governance experience through her roles on the boards of Morgan Sindall and HMRC.
Published: May 13, 2026 at 12:57 pm
A San Francisco FinTech has swooped for London-based AI firm Rossum.
Coupa, a platform for autonomous spend management, has acquired Rossum, behind intelligent document processing solutions.
Rossum, founded by three university AI dropouts from Prague, raised £72 million in 2021.
Published: May 13, 2026 at 12:41 pm
A listed investor in THG and NCC Group is to raise funds for new investment opportunities.
Kelso, listed on the main market of the London Stock Exchange, holds stakes in publicly traded companies and has previously raised four tranches of investment.
It intends to raise fresh funds equal to 5% of its issued share capital at a placing price of 3 pence per share, equivalent to £650,000.
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