Funding raised by UK tech companies in January reached a six-month high, brought on by a surge in AI investments, fresh figures from UKTN have found. 

Across January, UKTN tracked £794.3m worth of funding rounds for British tech firms, almost double the average amount raised across the previous six months (£433.7m). 

The encouraging numbers were heavily driven by major funding rounds in the generative AI sector, with the record for British generative AI valuations broken twice in the same month. 

AI avatar company Synthesia closed a £146m Series D round on 15 January at a valuation of $2.1bn then, two weeks later, AI voice cloning firm ElevenLabs closed a Series C round of the same size that valued it at $3.3bn. …