Welcome to The Week in Tech, your roundup of the past week’s top technology news stories. We filmed this episode from the office of UK FinTech firm GoCardless. This week, we have more than £21m in investment, the Spring Budget, a crisis at Facebook and a pair of trainers that can quell your pizza cravings. Read on or watch the video for all this and more.
First up, in UK tech investment news, London-based AI company LoopMe secured $10m. The firm, which uses AI in brand advertising, received funds from Impulse VC, Harbert European Growth Capital Fund and existing investors.
Garrison Technology Limited closed a £12m Series A round led by Touchstone Innovations. Touchstone contributed £3.85m, with other participants in the round including BGF Ventures and NM Capital.
Oinky, a London-based savings app, raised $1m in Seed funding. The company also recently received regulatory approval from the Financial Conduct Authority.
Best of British
Chancellor Phillip Hammond delivered the Spring Budget, revealing £270m has been earmarked for disruptive tech. The funds will be spent on R&D involving technologies such as AI and robotics.
The government’s 5G Strategy was also revealed. We’re to get a new national 5G Innovation Network to trial and demonstrate 5G applications.
Innovate Finance CEO Lawrence Wintermeyer steps down
Facebook is to be questioned by MPs over its failure to remove sexualised images of children. This follows a BBC investigation that found posts reported under its own guidelines were not being taken down.
Our Download of the Week is Rolo. The makers describe it as “a calendar for people who don’t use calendars”. It has a circular face, enabling you to see a day, a month or a full year at a glance. You can also see how how much of your life is dedicated to work and leisure activities.
And finally, you can now order pizza via your shoes thanks to a new gimmick from the folk over at Pizza Hut.
Called Pie Tops, the shoes sync via bluetooth to a mobile device with the company’s app. When a user squeezes the right tongue, it places an order for whatever style of pizza the wearer has saved in the app.