Zego becomes first UK insurtech to secure unicorn status March 10, 2021 Motor insurance startup Zego has secured unicorn status with a valuation of more than $1bn after its latest funding round. The London-based company provides insurance to gig economy workers and claims to be the UK’s first insurtech unicorn. It follows a $150m round led by DST Global with backing from General Catalyst, whose founder and [...]
First Deliveroo backers now have stake worth 431 times original investment March 10, 2021 The investors who piled into Deliveroo at its earliest stages will be rubbing their hands as the takeaway giant prepares for its bumper London listing. The investors who bought into the takeaway back in 2013 will now have a stake worth £646, around 431 times their original investment according to data from MarktoMarket. In September [...]
UK regulators unveil ‘joined-up’ approach ahead of Big Tech crackdown March 10, 2021 Three major UK watchdogs have outlined their “joined-up” approach to digital regulation this morning as authorities prepare to crack down on Big Tech. The Digital Regulation Cooperation Forum (DCRF), which includes Ofcom, the Competition Markets Authority (CMA) and the Information Commissioner’s Office (ICO), today unveiled its first annual plan for co-ordinating new regulation across online [...]
Monzo backer Passion Capital opens doors to retail investors March 10, 2021 One of the earliest backers of fintech favourite Monzo is opening its doors to crowd investors with the launch of its third fund. Passion Capital’s £45m fund will be open to any investors who self-certify as “high net worth” or “sophisticated” and are registered and qualified by the crowdfunding platform Seedrs. It will give retail [...]
Money mule criminals increasingly target cash-strapped youth during Covid lockdown, report finds March 10, 2021 Money mule criminals use fake online job adverts to target cash strapped youngsters
Microsoft hack: Biden sets up emergency taskforce as EU banking regulator hit March 9, 2021 US President Joe Biden has launched an investigation into a widespread cyber attack on Microsoft’s email services that may have compromised tens of thousands of businesses. The attack, which was first uncovered last week, has taken advantage of previously undiscovered vulnerabilities in Microsoft’s mail server software to potentially gain access to swathes of organisations in [...]
Video game maker Tinybuild debuts in record £340m Aim listing March 9, 2021 Video game maker Tinybuild has become the largest ever US company to list on Aim after its shares debuted on London’s junior index this morning. The Seattle-based company, which owns a portfolio of more than 40 PC game titles, secured a market capitalisation of £340m following its float this morning. This marks the largest ever [...]
We need a humanitarian vision for AI and robotics March 9, 2021 | City Talk Robotics and artificial intelligence are beginning to transform a broad spectrum of industries, and I believe that in time, given its near-endless applications, omnipresent AI will contribute $150 trillion to the global economy. I also believe that humanitarian efforts all over the world will be greatly advanced by emerging artificial intelligence and robotics technologies as [...]
For the continued growth of esports, local and accessible venues are key March 9, 2021 | City Talk In the summer of 2020, a monumental deal for the wider esports space was announced, and whilst it made some noise in financial, esports and gaming circles, it went by largely without much fanfare. The acquisition of Belong by GAME by esports infrastructure company Vindex, and the associated news that the US-based firm plans to [...]
Technology on stage: How becoming bionic will boost my acting career March 9, 2021 | City Talk We are often told how brand-new technology is changing humanity, but we rarely hear enough about how it is impacting individual humans. In December 2020 I joined a unique club of individuals who have been fitted with a 3D-printed bionic arm. The robotic arm is designed and manufactured by Bristol-based Open Bionics and mine was [...]
