Wave Ventures, Europe’s largest Gen Z-run VC fund, has announced its third fund, which is €7 million ($7.8 million), tripling the size of its previous fund. The fund is supported by a diverse group of investors, such as Slack, Bolt, Skype, Supercell, Wolt, Silo AI, and Smartly.io, as well as European early-stage VCs, and family offices, according to a press release. The fund comes at a crucial time for early-stage investing across the Nordics and Baltics. The quick advancement of generative AI, no-code tools, and open-source technologies makes entrepreneurship more
Nearly half of the facial recognition in London last year occurred in areas with a higher proportion of Black residents than the city’s average, The Voice Newspaper reports. Researchers from a political group in London circulated figures highlighting live facial recognition (LFR), which was used 180 times in 2024. More than half of these occurrences were in places with a larger Black population than the city’s average. How many faces were scanned? Across London, around two million people had their faces scanned, but only 804 arrests were made, which is
The Trump administration is urging some large companies in the EU to comply with executive orders to end DEI programs. Government officials have allegedly sent letters to companies in France and the European Union with US government contracts, stating that they should ban DEI initiatives if they want to hold on to their contracts, according to The Financial Times. “Department of State contractors must certify that they do not operate any programs promoting DEI that violate any applicable anti-discrimination laws and agree that such certification is material for purposes of
CEO and co-founder Eric Collins of Impact X Capital Partners announced the final close of its latest fund. Illumen Capital, a BIPOC-led investment firm based in Oakland, California, and Basecamp Fund, a fund of funds investing in upcoming managers from London’s Phoenix Court, supported the fund, as stated by the Voice. This fund will help Impact X fulfill its commitment to tackling systemic barriers in venture capital by assisting underrepresented entrepreneurs in high-growth industries such as technology, healthcare, and targeted creative sectors. “This fund close is about more than capital—it’s
Cashflow management platform Lenkie has secured £49 million ($62 million) in Series A funding to transform how UK small businesses access capital. The funding round was led by a large US private credit fund focused on supporting lenders internationally. It also included a £4 million ($5 million) equity and a £45 million ($57 million) debt facility, according to a press release shared with POCIT. How does Lenkie support SMEs? Lenkie specializes in payables financing. Instead of waiting weeks or months for payments to process, Lenkie steps in to pay suppliers upfront, helping
British police forces are using AI crime prediction tools that disproportionately target Black and racialized communities, a new report from Amnesty International UK has revealed. According to Amnesty, nearly three-quarters of UK police forces rely on predictive policing, which uses past crime data to estimate where crimes might happen or who might commit them. The 120-page report, “Automated Racism – How Police Data and Algorithms Code Discrimination Into Policing,” argues that these predictive systems reinforce racial bias instead of improving public safety. “These systems have been built with discriminatory data
Tech workers union Prospect is asking UK lawmakers to examine the diversity efforts of US multinational companies operating in the UK to ensure they comply with UK regulations and values. It has written to Parliament’s Women and Equalities, asking them to review American businesses rolling back DEI efforts. “Prospect represents thousands of UK tech workers, including in companies like Meta, and we have been alarmed to see how these companies have acted since Donald Trump’s inauguration as President,” the letter stated. It added “Not only have the CEOs of many
Deloitte recently shared that it would scrap its diversity goals and urged government contract employees to remove gender pronouns from their email signatures. However, in the UK, Deloitte’s senior partner and chief executive Richard Houston informed staff in an email that diversity “remains a priority” despite the US firm’s plans for DEI. Deloitte US rolling back on DEI efforts. The Financial Times reported that the firm told consultants to remove pronouns highlighting their gender from external emails to align with emerging government client practices and requirements,” as stated by people with
Solar tech startup GRYD has secured £1 million ($1.2 million) in pre-seed funding, according to Tech Funding News. GRYD was created in 2023 by Mohamed Gaafar, Scott Whiteside, and Tom Jordan to make solar energy accessible to everyone by allowing solar-as-subscription to newly built homes. The trio met at the Antler accelerator program, where they devised the idea for a company that would provide homeowners with zero-cost residential solar systems as energy costs continue to rise in the UK. The pre-seed round saw investments from SFC Capital and Black Seed
The UK startup Domna has secured a £70 million ($87 million) majority investment from private equity firm Leon Capital, according to Tech Funding News. The company is one of the leading home energy efficiency and retrofit services, and it has now received one of the biggest first-time raises for a female founder team in Europe. The team plans to improve home energy efficiency and support sustainability initiatives. Their outlook on home energy efficiency examines the UK’s retrofit challenge by combining advanced software with practical expertise. Now that Domna has the
