The Rundown: Edition 30 – Starlink, Davos, and drones
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SpaceX lines up Wall Street giants for IPO
Elon Musk’s SpaceX has held meetings with Bank of America, Goldman Sachs, JPMorgan Chase and Morgan Stanley to discuss an IPO potentially as early as this year. The IPO would likely surpass the previous largest ever public listing set by Saudi Arabia’s Aramco, which raised $29bn in 2019. Forbes
Treasury appoints City execs as ‘AI Champions’
City executives Harriet Rees and Dr Rohit Dhawan – from Starling and Lloyds Bank, respectively – have been appointed to oversee the safe adoption of AI technology in the financial sector. Treasury officials have stated that around three-quarters of UK finance firms already use the technology. UKTN
Bezos’ Blue Origin announces Starlink rival
The Washington-based space tech firm has announced plans to launch more than 5,400 satellites to create a new communications network. Blue Origin said it will start launching satellites for its new communication network, TeraWave, by the end of 2027. BBC
Snapchat introduces new parental controls
Days after settling a lawsuit which claimed it was causing social media addiction and mental health issues, Snapchat has introduced controls which allow parents and guardians to see children’s screentime and new friends. TechCrunch
Optalysys raises £23m Series A extension
The Leeds-based firm announced a new funding round led by Northern Gritstone, with support from the National Security Strategic Investment Fund. Optalysys will use the cash to accelerate the commercialisation of its photonic computing technology. Times
Wrisk adds Allianz as strategic investor
Wrisk, a specialist platform offering insurance for the automotive sector, has added industry giant Allianz to its shareholder register. Allianz, which is investing an undisclosed sum, joins Wrisk following the startup’s recent £12 million Series B round led by Alma Mundi Ventures and Opera Tech Ventures. Fintech Global
Elyos AI secures £10m Series A
Elyos AI, which has developed a platform that automates customer communications, booking, dispatch and follow-ups for tradespeople including plumbers and electricians, has raised a £10 million round led by Blackbird Ventures, with investment from Y Combinator and Pi Labs. UKTN
Legaltech Antidote completes $5m Seed round
Antidote, a provider of AI-based billing compliance software for global law firms, has announced a $5 million Seed round led by Lakestar, with participation from Concept Ventures and The LegalTech Fund. Tech.EU
Europe vs. the US
Before President Donald Trump’s climbdown on Greenland, Martin Jacob, Professor at IESE Business School, said that more Europeans are “willing to pay an economic price if a trade war breaks out” over the territory. Wall Street Journal
Rockets no longer in retirement
Space company Skyrora is spearheading renewed interest in the UK’s space ambitions by reviving the legacy of the 1960s Black Arrow rocket, the only British launcher to ever put a satellite into orbit. Derek Harris, Director of Business Development & Communications, explains how Black Arrow forms the basis of Skyrora’s Skylark rocket. Express
AI in Switzerland piques interest
A wave of Swiss AI startups are poised to break through this year, according to Edouard Chavassieu, Associate at InMotion Ventures; Valentin Antoine, Investment Analyst at TDK Ventures; and Philippa Allen, Investment Manager at Calm/Storm Ventures. Sifted
UK tech incorporations hit all-time high
2025 marked a record-breaking year for new UK tech companies: 56,615 tech businesses were incorporated. This is up 17% from 2024, and 47% from five years ago. While London remained the dominant tech hub, regions such as Wales and the West Midlands grew at more than double the rate of the UK’s capital. Tech Founders
Is it a bird, is it a plane? No, it’s a drone. If you’re in South West London, you might hear more buzzing overhead than usual, as the NHS is set to expand its use of drones to the area. The new service from Apian will carry urgent pathology samples from Nelson Health Centre in Merton to St George’s Hospital in Tooting, cutting transportation times by up to 85%. Perhaps we’ll all see drones with NHS supplies flying across the UK under regulation changes. However, one place where the Ministry of Justice wants to see fewer drones is in prisons. As part of the 100 Year Partnership, Deputy Prime Minister and Secretary of State for Justice David Lammy was in Ukraine to see how anti-drone measures used against Russian forces can be applied to UK prisons. Counter-drone tactics can be utilised to combat organised crime gangs’ use of drones to smuggle drugs. Leading the charge is Kvertus, a Ukrainian electronic warfare (EW) company that has developed life-saving anti-drone technologies. It just might offer the specific military-to-civilian pathway the Ministry of Justice seeks.
Unfortunately, the UK job market still isn’t looking up. While 102 startups across Europe – including the UK – doubled their headcount last year, unemployment in Britain is at a near five-year high of 5.1%, according to the Office for National Statistics (ONS). It is especially tough for youngsters, who are facing the “great graduate job drought“, thanks to economic uncertainty and the proliferation of AI. But, to put an optimistic spin on things, it is in difficult times that innovation often thrives.
Slightly further afield, China’s renewable energy revolution might be the solution people are looking for. The nation’s cheap and rapid production of solar panels and wind turbines could help end energy poverty and fossil-fuel dependence – something that seemed unfeasible two years ago, let alone a decade. But is it too good to be true? As a result of the “energetic over-supply”, a lot of solar energy gets wasted, and there is a huge knock-on effect on the commodities market. Silver is used in a paste to create electrical contacts in panels, which is driving the price of the precious metal to skyrocket. What happens next is yet to be seen. You know what else can’t be seen? China’s wind farms, according to Donald Trump at Davos, even though China has the world’s largest wind farm…