The Rundown: Edition 29 – Greenland, Times Tech 100, and digital IDs
Revealed: UK’s 100 fastest-growing tech companies
The Times Tech 100 list features a range of fast-growth firms from Carmoola, the digital car finance platform, to Skyrora, a space launch provider, to Veremark, an employee screening company. The businesses have combined revenues of £3.7 billion and have created 11,600 new jobs over the past 3 years. Times
Balderton Capital wins big with early Revolut bet
Balderton Capital has cashed out roughly $2 billion from its stake in the fintech startup after contributing £1 million to a £1.5 million round in 2015. Balderton subsequently led Revolut’s Series A round the following year. FT
UK VC investment grows for the first time in four years
Analysis by HSBC Innovation Banking UK and Dealroom revealed that $23.6 billion of VC investment went into UK startups and scaleups in 2025, representing a 35% increase from 2024. The research also highlighted a resurgence in late-stage rounds, with 36 rounds raising over $100 million. UKTN
Starmer U-turns on plans for compulsory digital ID
The U-turn follows faltering public support due to concerns about privacy and accessibility for older adults. The Prime Minister has made the case for the scheme’s potential upsides, such as making it easier to open bank accounts, vote, and book GP appointments. Times
Parloa hits $3bn valuation with Series D raise
Parloa, an agentic AI startup based in Berlin, has announced a $350 million Series D round led by General Catalyst, with further investment from EQT Ventures, Altimeter Capital, Durable Capital, and Mosaic Ventures. TechCrunch
Robotics firm Skild AI raises $1.4bn Series C
Skild AI, which develops software to help robots learn to complete tasks, has raised $1.4 billion at a $14 billion valuation. The funding round was led by SoftBank, with participation from Nvidia, Macquarie, 1789 Capital and Bezos Expeditions. Bloomberg
Biodiversity VC Superorganism closes $25.9m debut fund
New York-based Superorganism, which claims to be the first venture capital firm focused on biodiversity, has closed its first fund at $25.9 million. The firm invests up to $500,000 in pre-seed and seed-stage companies and donates 10% of its profits to future conservationist efforts. Venture Capital Journal
Cyb3r secures $5.4m round led by Octopus Ventures
London-based business Cyb3r Operations, which aims to replace fragmented corporate risk management processes, has secured funding from Octopus Ventures, with additional investment from existing backer Pi Labs. UKTN
Scottish small satellites for all to see
Glasgow produces the most small satellites in Europe, led by Skyrora, the first British rocket company to receive a UK launch licence. Alan Thompson, Director of Government Affairs, explains how Skyrora’s launch vehicle would ‘act as a “space tug” for satellites, refuelling, manoeuvring and then removing them from space’. FT
AI to help reduce LinkedIn trawling
AI won’t replace human recruiters, but it will greatly reduce their need to scroll through LinkedIn to find and review candidates’ CVs, according to Saaras Mehan, Co-founder of recruiter Jack & Jill. Times
Shrinking data centres
Smartphones will eventually replace large, costly data centres, as people will soon be able to use AI tools integrated into their phone hardware, according Aravind Srinivas, CEO of Perplexity. BBC
Apple’s “Plan B” – work with Google
The tech giant is looking to revamp its virtual assistant, Siri, in the age of AI. One solution is collaborating with Google and its Gemini AI to build a custom version of Google’s model that runs on Apple’s servers. Bloomberg
What does sustainability look like in 2026?
Among the experts sharing their sustainability predictions this year are Mike Smeed, Managing Director of InMotion Ventures; David Delfassy, Investment Director at TDK Ventures; Sam Hill, Investment Analyst at TDK Ventures; and Juliette Devillard, Founder and CEO of Climate Connection. TechRound
From AI to the EU. This week it emerged that the EU is demanding a ‘Nigel Farage clause’ as part of Brexit reset talks. The bloc will impose financial penalties if a future government withdraws from the planned reset deal by PM Sir Keir Starmer. At present, the EU and UK are working on a “veterinary agreement” to remove red tape and ease border friction for British food and drink exporters. Yet, Farage’s Reform has promised to overturn the deal and not pay any fines, citing that “No parliament may bind its successor, we will not honour any clause. If Starmer signs this, it is a democratic outrage.”
In some other news, the hunt for critical materials and minerals continues. Europe’s drive to cut reliance on China is set to benefit Poland’s biggest recycling company, Elemental Group. The company will use $800 million for the Polvolt projects, with most funding a copper smelting and refining facility, and the remainder an EV battery metals refinery. The projects have secured EU and Polish government grants. Elemental Group’s factory is a joint venture (JV) with US-based Ascend Elements, while American Critical Metals is exploring a separate JV with Saudi Arabia to refine rare earth materials from Greenland. Definitely one to watch, if US President Donald Trump’s threats against the territory are anything to go by.