The Infection Innovation Consortium (iiCON) has launched its second phase to accelerate infection innovation, backed by £6 million in funding from UK Research and Innovation (UKRI). The consortium aims to advance pioneering solutions in the infection space through this new phase of activity. The UKRI grant will support iiCON's continued work in developing innovative approaches to tackle infectious diseases.

PANTA, a London-based fintech founded in 2024, has launched an AI-powered index operating system and raised £3 million from Fuel Ventures and Innovate UK. The platform targets the $22 trillion index industry, which still relies heavily on manual processes and legacy technology. The system uses conversational AI to allow financial institutions to build and test index methodologies in minutes using plain English instructions, replacing weeks of manual work. The AI layer generates working methodologies and performance commentaries whilst maintaining a deterministic calculation core for regulatory compliance and auditability. PANTA has formed a strategic partnership with Rimes to expand across the index value chain. The company, founded by industry veterans with 125 years of combined experience, has received two FStech Awards for technological innovation. Chief executive Tobias Sproehnle said the AI closes the gap between idea and tested index whilst maintaining rigour underneath.

KVector, a University of Birmingham spin-out, has raised £3.8 million from Midlands Mindforge, Midlands Engine Investment Fund II through Mercia Ventures, UK Innovation & Science Seed Fund, and the university. The round includes £950,000 from Innovate UK. The company develops beam-steered antennas using engineered metamaterial surfaces for radar and satellite communications. The technology aims to match active electronically steered array performance whilst reducing weight, cost, and power consumption. KVector's approach replaces thousands of individually controlled electronic components with metamaterial surfaces within an electro-mechanical architecture. The antenna can be manufactured at scale through UK and European supply chains and tuned across various frequencies. Founded by Executive Chair Henry Nurser with Dr James Churm and Professor Alexandros Feresidis, KVector is currently working with selected partners in radar and satellite communications sectors. The funds will support recruitment and product development with defence sector partners.