News
Digital identity platform Yoti has raised £8m in an equity funding round, which has seen the startup’s valuation rise to £65m.
The startup drew support from existing angel investors and two of its three founders, Robin Tombs and Noel Hayden.
Yoti, based in London, will use the cash injection to grow its consumer network, aiming to reach 2 million users throughout this year.
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Tech, media and telecoms (TMT) remain as fascinating as ever in 2018. Many milestones will be reached this year. Progress will be exponential in some fields. But in other areas the way in which we live and work may shift imperceptibly. Discover what TMT trends we predict will have the biggest impact in 2018 and beyond.
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HubBox, a retail tech startup, has raised $1.6m in pre-Series A funding.
Venture capital fund KM Capital (KMC), Angel Tech Investors (ATI), Nexus Investment Ventures (NIVL) and Alan Halsall, the ex CEO of Silver Cross Prams, are among the startup’s backers.
Founded in 2015, HubBox has created proprietary technology to enable retailers to implement a local Click and Collect option through a network of 3,500 collection points.
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Redwood Technologies Group has received a £25m funding boost from Scottish Equity Partners (SEP) in exchange for a minority stake in the business.
Redwood, a provider of communications technology and cloud contact centre solutions, was founded in Berkshire in 1993 by siblings Sean and Martin Taylor.
This marks the first time Redwood has raised externally and the money will be used to expand across Asia Pacific. The firm is set to open a regional office in Tokyo in Q1.
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eSafe Global Limited, a Salford, UK-based safeguarding software specialist, received a £1.95m investment.
The round was led by Maven Capital Partners. The transaction is being jointly funded by Maven’s Venture Capital Trusts and the Greater Manchester Loan Fund (GMLF), which are investing £1.6m and £350k respectively.
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Chinese retail giant Alibaba has developed an artificial intelligence model that’s managed to outdo human participants in a reading and comprehension test designed by Stanford University. The model scored 82.44, whereas humans recorded a score of 82.304.
The Stanford Question Answering Dataset is a set of 10,000 questions pertaining to some 500 Wikipedia articles. The answer to each question is a particular span of text from the corresponding piece of writing.
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Microsoft researchers have created technology that uses artificial intelligence to read a document and answer questions about it about as well as a human.
It’s a major milestone in the push to have search engines such as Bing and intelligent assistants such as Cortana interact with people and provide information in more natural ways, much like people communicate with each other.
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Goodlord, a London PropTech startup which seeks to make the property rental process easier, has appointed serial entrepreneur and investor William Reeve as its new CEO.
The news comes after TechCrunch reported last week that co-founder Richard White had stepped down from the role, following a company restructure which reportedly resulted in 40 people losing their jobs.
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what3words, a London, UK-based provider of global addressing system that allows people to find & communicate a location, received an investment from Daimler AG.
With the investment, whose amount not disclosed amount, Daimler acquired a share of around 10% in the company. In addition, Mercedes-Benz will integrate what3words’ three-word address system and make it available to its customers.
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It’s sometimes hard to believe the iPhone was launched a little over 10 years ago, paving the way for a smartphone revolution where it seems we have ported our entire lives onto mobile.
With 10 billion connected devices in the world today – expected to rise to 50 billion by 2020 – this is only going to accelerate. This is likely to change commerce more in the next five years than it has in the last 50.
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