Raspberry Pi reported a 6% drop in half-year revenue to £100 million and a 7% decline in adjusted EBITDA to £14.4m, though gross margin improved to 25%.

The Cambridge-based company, which os behind low-cost miniature computers used extensively in education, launched seven new products in the period and, for the first time, sold more semiconductors than boards.

CEO Eben Upton said momentum is building, with a strong order backlog and unchanged full-year profit expectations supported by higher anticipated volumes in the second half.

London-based WalkSafe has launched Pro Prevent – a new anonymous reporting tool to help employers tackle workplace harassment before it escalates.

The app enables staff to raise concerns discreetly, giving HR teams early warnings while helping companies comply with the Worker Protection Act.

Founder Emma Kay said the tool empowers employees to report harassment without fear and turns compliance into a genuine staff benefit.

The launch follows research showing 84% of UK workers want employers to introduce a safety app at work.

Author: Patrick Killeen

Amazon has announced plans to close 14 Amazon Fresh stores in the UK, with five of those set to be converted into Whole Foods Market outlets.

If approved, the changes will bring the Whole Foods Market network to 12 UK locations by the end of 2026.

The global giant says the move follows a review of its operations and reflects the much stronger growth opportunities in online grocery delivery, where it is rapidly expanding partnerships and services.

A consultation has begun with affected employees, and the company says it will aim to redeploy as many staff as possible.

Country manager John Boumphrey stressed that Amazon remains committed to the UK, a country it recently pledged to invest £40 billion in, despite the proposed closures.

Author: Patrick Killeen

Revolut has opened its new global headquarters in London’s Canary Wharf and announced a £3 billion investment in the UK over the next five years.

The commitment is part of a wider £10bn global growth plan, which will create 10,000 jobs and expand operations across Europe, the US, Latin America, APAC, Africa and the Middle East.

CEO Nik Storonsky called the HQ “the launchpad for our future” as Revolut targets 100 million customers by mid-2027, up from its current 65m.

The FinTech also revealed its business arm has hit £1bn in annualised revenue.

Lancashire startup Universal Atmosphere Processing (UAP) has secured six-figure backing from angel syndicates through the Seed Enterprise Investment Scheme, alongside support from institutional and public investors.

The funding will accelerate production of its Mk1 Atmospheric Processor, which captures CO2 and high-value noble gases directly from air.

The business has also won a research grant from CERN’s Venture Connect programme and was named among the world’s top 100 startups by global tech summit SLUSH.

Founder Brendan Cornthwaite said the raise marks a shift from concept to execution, supported by new head of engineering, Dr James Myers, and growing international recognition.

Sports bra firm boobydoo has partnered with Brarista, the pioneering AI bra-fitting technology company based in Manchester and London.

boobydoo will integrate Brarista’s advanced AI solution into its online platform, delivering 24/7 instant fitting guidance, personalised recommendations, and breast health education, to ensure women can access support anytime.

For 20 years, boobydoo has provided women and girls with support to pursue their exercise goals, free from concerns about breast movement. Noticing that sports bras and the crucial education surrounding their importance were often overlooked in both school settings and elite-level sports, it also developed a professional fitting service, which has since been adopted by elite sports teams and leading educational institutions.

Accountancy and advisory firm BDO has welcomed 53 new trainees across its North West offices in Manchester and Liverpool – and 600 nationally.

The trainees, which join the firm’s 8,000 strong workforce across its four core business areas – audit, tax, deals and consulting, risk & outsourcing – are a combination of school leaver apprentices, university graduates and students undertaking a 12-month industrial placement.

In their first week, the trainees are attending a two-day induction at Wembley Stadium where they’ll gain insight into the firm’s culture and values, while also having the opportunity to network and collaborate with their new colleagues.

InsurTech Zego has reported strong results and launched a new consumer insurance product.

The firm significantly strengthened its financial position in 2024, cutting its net loss to £4m – a substantial improvement from £34m net loss the previous year.

The company returned to monthly profitability by year-end and has maintained strong momentum into 2025, setting the stage for continued growth and innovation.

Alongside profitable underwriting performance and improved customer outcomes, Zego also expanded into the personal car insurance market, giving more drivers greater control over their premiums and making insurance more accessible.

UK Export Finance, the UK’s export credit agency, and Lifted Ventures have launched the UKEF Female Founder Export Accelerator in Partnership with Lifted Ventures.

The ‘first-of-its-kind’ collaboration is designed to support women-led and women-owned businesses from diverse backgrounds to expand globally, scale faster and access the finance and tools needed to succeed beyond the UK.

Commencing in January 2026, the UKEF Female Founder Export Accelerator is a four-month programme, comprising both in-person and virtual accelerated learning workshops along with mentoring and coaching. The programme is designed to equip female founders with the insight, support and funding pathways they need to scale internationally with confidence.

Author: Chris Maguire

JP Morgan has upgraded its outlook on online retailer THG.

The Manchester-headquartered group returns to the FTSE 250 tomorrow (September 24) on the back of positive half-year results.

Now JP Morgan has raised THG’s stock from ‘underweight’ to ‘neutral’ – sparking a 4.5 per cent increase in the retailer’s share price.

Underweight means they expect the stock to perform worse than the overall market while neutral stock is predicted to perform in line with the market.

THG’s share price currently stands at just over 38p with a market cap of £532m.

The figures are up from 25p and £352m respectively at the start of June – but are still well down from THG’s IPO valuation of £5.4bn in 2020.

Author: Jonathan Symcox

Fast-growing online marketplace OnBuy has expanded into 12 European markets following its acquisition of iconic retail brand Comet this year.

OnBuy said it planned to relaunch the brand in Q4 2025 as part of its long-term growth strategy, and that the acquisition would shake up the UK’s £25bn consumer electronics sector.

It plans to inject over £10m into the Comet brand, resurrecting it as a marketplace ‘at the apex of eCommerce’.

Meanwhile, OnBuy has opened registration for retailers across Germany, France, Spain, Italy, the Netherlands, Belgium, Austria, Greece, Finland, Portugal, Ireland and Slovakia.

Author: Patrick Killeen

Sedgefield-based advanced communications specialist Filtronic more than doubled annual revenues and tripled profits on the back of major contract wins in the space and defence sectors.

The AIM-listed company grew revenues to £56.3 million in the year to 31 May 2025, a 121% increase.

Adjusted EBITDA surged to £17m from £4.9m, while operating profit rose to £13.4m from £3.6m the year before.

The major increases come in a record financial year in which the company agreed a landmark agreement with Elon Musk’s SpaceX, as well as contracts with Viasat, Airbus and the European Space Agency in the satellite sector.

Author: Chris Maguire

Hugh Campbell has joined the board of US EdTech Lingokids after Bullhound Capital led a $120m investment round in the firm.

Lingokids is the No 1 interactive app for kids aged between two and eight and is trusted by more than 185 million families worldwide.

Bullhound Capital is the investment management arm of GP Bullhound. Other investments include PLAYTOMIC, RavenPack, ConnexAI, HackerOne and MUBI.

 

 

Author: Patrick Killeen

London-based FinTech GoCardless is set to open a new office in Leeds, strengthening its UK footprint as it works towards profitability within the next 12 months.

The company, which processes direct bank payments for businesses of all sizes, will establish the new hub later this year in the city centre.

Around 50 roles across sales, partnerships, corporate services and operations are planned for the first 12 months, with headcount expected to grow rapidly in the coming years, replicating the expansion model of its existing bases in London and Riga.

The move has been applauded by Chancellor of the Exchequer, Rachel Reeves, and Mayor of West Yorkshire Combined Authority, Tracy Brabin.

A brand advocacy platform used by Lush, ELEMIS, Victoria’s Secret and Abercrombie & Fitch, has raised £12 million in Series A funding.

The round for London-based Duel was co-led by Molten Ventures and Bright Pixel, with backing from Mimecast founder Peter Bauer.

The firm helps retail brands build growth engines from their own fan and creator communities, turning everyday customers into advocates who drive referrals and sales, and funding will support expansion in the US and the development of new AI-driven enterprise tools.

Asset and wealth management software provider ZILO has raised £20m in a Series A2 round, led by Portage with participation from State Street, existing shareholders and management.

The funding, at an increased valuation from its 2024 Series A, will fuel global expansion and the rollout of new AI-powered tools.

The London-based FinTech’s platform has already won major mandates from two of the world’s top five custodians and a leading asset manager, alongside deals with Fidelity International and State Street.

PropTech platform Hubflow has raised £3.5 million from Whiterock’s Growth Capital Fund, which backs scaling companies with proven models.

The funding will accelerate Hubflow’s rollout across prime Zone 1 locations, adding to its existing sites in London and Belfast.

New flagship hubs are set to launch in the city, Midtown and West End from 2025–26.

The founder and CEO of social media powerhouse LADbible has backed Manchester startup Veridox in a £1 million funding round to combat fraudulent insurance claims with AI.

Solly Solomou invested through his Solo Investments Holdings vehicle, joining lead investor Outward VC in the round.

The InsurTech has developed AI software that analyses documents and images linked to insurance claims, flagging signs of possible manipulation that would otherwise require detailed manual checks.

The investment will support expansion in product and sales as the business prepares for general launch.

The advertising arm of Sky has extended its partnership with Manchester-based Regit, the ‘digital garage’ platform with insights on millions of UK car owners.

The partnership between Sky Media and the Macclesfield-based firm has proven especially effective for automotive and insurance advertisers, with campaigns delivering twice the effectiveness of other approaches.

One recent campaign directly drove 17k website visits and 37 extra car sales for a well-known brand.

To mark the renewal, Regit has also commissioned fresh research into motorists’ behaviour.

London-based sustainable finance data firm Connect Earth has acquired Stockholm-based ESG reporting platform Datia.

The move is part of its push to build a “Sustainable Finance Operating System” unifying compliance, emissions insights and green finance tools.

Connect Earth provides carbon and ESG data infrastructure for banks and asset managers.