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£5.75m investment for healthcare firm Functional Gut Group as it plans nationwide expansion

2025-12-02 10:29:39 By

Private equity firm Foresight Group is backing Manchester healthcare business Functional Gut Group (FGG)

A healthcare firm that helps patients with digestive health issues including irritable bowel syndrome (IBS) has secured a £5.75m investment.

Private equity firm Foresight Group is backing Functional Gut Group (FGG), which provides diagnostic testing services to patients suffering with pervasive conditions.

FGG was founded in 2014 by gastrointestinal clinical scientist Dr Anthony Hobson. It now operates three permanent clinics in Manchester, Cambridge and London, as well as several collaborative clinics in the UK and Ireland employing 35 people.

FGG provided testing for more than 12,000 patients last year across the private sector and the NHS.

Its clinics are inspected by the Care Quality Commission and the company says it is “the only independent GI physiology service in the UK to receive an Improving Quality in Physiological Services accreditation”. FGG also operates free online health and education portal Tummy MOT.

The company plans to use the Foresight investment to expand to other parts of the UK, to grow its team and to introduce new tests to the market. Experienced healthcare executive, Arif Ahmed, will join the board as chair, while Phil Clarke, formerly at Vein Centre, will join as finance director.

Other healthcare companies in Foresight’s portfolio include Clearview Endoscopy Limited, teleradiology provider Hexarad, and Homelink, a provider of “hospital at home” and virtual ward services.

Foresight recently announced its exit from Hospital Services Limited and in 2024 exited ABL Health, a community-driven healthcare services provider, saying it generated a 4.1x return on investment.

Dr. Anthony Hobson, CEO and founder of FGG, said: "It was key to find an investment partner that shared FGG’s ethos and understood the immense opportunity available to us. All of us at FGG feel that we have found that in Foresight, and are excited about the potential to improve healthcare outcomes in the years to come."

Samir Rea, investment manager at Foresight Group, said: "FGG provides a valuable service, improving the lives of thousands of private and NHS patients through its innovative diagnostic testing methods. Anthony and his team have already developed an excellent reputation in the market, and we look forward to supporting them in their next chapter of growth."

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Tech

Healthtech firm SiSU Health aims for European and Manchester growth with £1.25m investment from Praetura Ventures

2025-12-02 10:29:39

A healthcare firm that aims to help reduce inequalities by helping people detect and treat health conditions early has won a £1.25m investment to grow across the UK and Europe. SiSU Health has secured the support from Praetura Ventures to grow its team and expand the reach of its digital health services. The company, led by CEO Samantha Fay, has its operations and logistics business in Manchester. It also plans to use the funding to grow its presence in the city, expanding the manufacturing of its SiSU Health Stations, and is working with the Department for Business and Trade to find a larger home. SiSU Health aims to help people detect risk factors, such as high blood pressure and obesity, so they can make lifestyle changes. The company’s work also generates anonymised population health data that can be used to inform public health strategies. The company already has clients including Aldi, Jaguar Land Rover, The AA, Workday and a range of councils and NHS trusts, with 20,000 people using its services each month. It wants to grow to have a network of more than 600 health stations by the end of 2026. SiSU Health has secured the investment from the GMC Life Sciences Fund By Praetura, which brings together Bruntwood SciTech, Greater Manchester Combined Authority and Enterprise Cheshire and Warrington. Investment has also come from NPIF II – Praetura Equity Finance, managed by Praetura as part of the Northern Powerhouse Investment Fund II. This is the fourth deal on which the funds have co-invested in the past year. The company has created the SiSU Health Station, where people can do a self-service digital health check in five minutes that can offer personalised health insights and calculate the risk of chronic conditions such as heart disease and diabetes. Users can then access a companion platform to help them understand their results and find treatment. SiSU’s platform can be integrated with existing healthcare systems. The company says it particularly wants to offer its services in areas of deprivation, or those where access to healthcare services is more limited, so it can “tackle barriers to access for underserved communities”. SiSU Health says it has delivered more than a million health checks to date. It has found that over 70% of platform users have not had a recent blood pressure check, even though high blood pressure is a leading risk factor for cardiovascular disease that can be successfully treated. It has worked on the Department of Health and Social Care-funded CVD (cardiovascular disease) Workforce Health Check Program and itself plans to launch a new public health proposition this year. Samantha Fay, CEO at SiSU Health, said: “We’re building a future where everyone has the tools and confidence to take control of their health — wherever they are. This funding allows us to scale our digital platform, extend our reach into new communities, and strengthen our collaborations and integrations across employer, public health and primary care. Prevention has to be proactive, accessible and data-informed — and that’s exactly what SiSU Health delivers.” Sim Singh-Landa, head of the GMC Life Sciences Fund By Praetura, said: “SiSU Health is bringing health into the modern age by helping individuals to take a health test at a time that’s convenient to them without judgement and the costs that can be associated with health checks. They are critically providing connected collaboration between the corporate world and public health systems, encouraging self-care and health awareness for individuals with supported follow-up and interventions, which has significant benefits for the NHS and public health. “This latest co-investment between the GMC Life Sciences Fund By Praetura and NPIF II also shows the power of two well-established regional funders working together to help propel great companies in the region.” Dr Kath Mackay, chief scientific officer for Bruntwood SciTech, said: “The GMC Life Sciences Fund By Praetura was set up to grow the region’s life sciences footprint to new levels of widespread recognition and give support to innovative businesses like SiSU Health who are tackling challenges like public health and the need to reach underrepresented demographics. We’re looking forward to seeing what the future holds for the SiSU Health team, as they scale the business’s manufacturing and logistics output from right here in the North West.” Sue Barnard, senior investment manager at British Business Bank, said: “A key aim of the Northern Powerhouse Investment Fund II is to invest in businesses that are paving the way in innovation and creating valuable solutions for the people it serves. It’s clear that the UK needs new solutions for healthcare issues and now, with the help of NPIF II funding, another great Northern business has secured the financial support it needs to help make this possible.”

Tech

Hull tech firm launches wearable band to help hospitality workers manage tips

2025-12-02 10:29:39

Fintech start-up thankyü has launched a wearable tipping service that it says will help hospitality and service workers, musicians and gig workers to earn more tips and get paid faster. The concept involves a wristband - called a TipTap - worn by the server and an app installed on customers' phones. Customers then tap to tip and the money goes to the server's personal wallet. Hull-based thankyü has developed the idea using payments tech providers viva.com and Mastercard Move. It provides a downloadable financial record of tips which the firm says can help hospitality and service staff fill in self-assessment forms and use as a credit reference for loans. The tech was developed in response to legislation that came into force last year, which requires employs to share tips, gratuities and service charges fairly and transparently with employees. Staff can choose from two options: a pay-as-you-go system where they pay 5% of each tip transaction, or a version where they pay the equivalent cost of a tip per month and get cashback on their platform charges, a free TipTap band and a discounts card. Gerard Toplass, the entrepreneur behind thankyü, said: "This is a tough time for the hospitality and service industry. Rising National Insurance and reduced business rates relief will make it harder for businesses and an increasingly cashless society means there’s less money for physical tips that go straight to staff, which can account for 40% of their income. But surveys show over 80% of customers want to tip using their cards or integrated wallets but want to make sure the person serving them actually gets the tip. "That’s why we created thankyü. We want to ensure staff have the ability to keep up to 100% of their tips so they can earn more money and get paid faster. We want to treat hospitality and service staff as the key workers they are. Thankyü will allow staff to share their tips with co-workers, bandmates, family or friends and choose how they spend or save. We’ve even introduced a free weekly prize draw that will help to top up their tips. "For employers, thankyü is safe and secure and compliant with HMRC and the Tipping Act. It reduces the administrative burden of managing cash tips, will help staff recruitment and retention and saves them paying National Insurance as the tips go straight to the server. Thankyü will ensure staff finally get the credit they deserve for their excellent service.” Anna Lamb, founder and owner of the Nibble Café in Hull, where the platform has been trialled, said: “Currently we take tips through the handheld PDQ machine and people can add a percentage or a custom amount. We then add that up every day and like collectively add it up at the end of the week, which is then declared through payroll and it goes into the wages.

Tech

Nvidia loses $273bn in market value as Trump tariffs bite

2025-12-02 10:29:39

Nvidia's shares took a significant hit on Thursday, with an almost eight per cent drop wiping $273bn off its market value. This was triggered by the introduction of steep new tariffs and concerns over potential new export restrictions unsettling the markets, as reported by City AM. The leading chip manufacturer saw its stock close down 7.8 per cent following US President Donald Trump's announcement of comprehensive import duties. Since peaking in January, Nvidia's stock has now plummeted 32 per cent, reducing its market cap to $2.48 trillion from $3.66 trillion. The tariff package includes a standard 10 per cent duty on all imports, along with targeted tariffs of 34 per cent on Chinese goods, 46 per cent on Vietnamese products, and 26 per cent on imports from India. Although semiconductors are currently exempt, investors remain cautious due to the possibility of retaliatory measures and wider supply chain implications. Mary Ann Bartels, Chief Investment Strategist at Sanctuary Wealth, commented: "This was the worst-case scenario for tariffs, and it wasn't priced into the markets". She added: "If the S&P 500 can't hold the 5,500 level, we may be looking at another 5-10 per cent downside." Over half of Nvidia's revenue is generated overseas, and the tech giant's supply chain is heavily linked with Asia-Pacific manufacturing. Specifically, its most advanced chips are manufactured by the Taiwan Semiconductor Manufacturing Company (TSMC). Adding to the pressure, the US is considering imposing new restrictions on Nvidia exports to China – particularly its H20 chip. This model is a lower performance variant, specifically created to align with former export controls. While discussions are still in their initial phase, a potential prohibition of the H20 could severely impact Nvidia's revenue from China, which currently represents about 20% of their overall sales. Bernstein's senior analyst Stacey Rasgon commented on the possibility, arguing that such a decision would be illogical and counterproductive, as it would essentially surrender the burgeoning AI chip market in China to competitors like Huawei. News regarding tariffs sent shockwaves through financial markets. Consequently, the Nasdaq plummeted by 6%, the S&P 500 declined by 4.8%, and the Dow Jones Industrial Average saw a decrease of roughly 4%. It marked the grimmest day on the markets since the initial stages of the Covid-19 outbreak. Market sentiment was further dampened by analysts forecasting an incoming earnings downturn with companies grappling with rising costs and diminishing profits. "Margin expectations for 2025 still look far too optimistic," expressed Charles Swab's chief investment strategist Liz Ann Sonders.

Tech

Quickline’s Project Gigabit rolls out to additional 6,000 homes and businesses

2025-12-02 10:29:39

Rural broadband provider Quickline is to take its full fibre broadband to thousands more hard-to-reach homes and companies on the back of multimillion-pound funding. The Willerby-based infrastructure specialist is extending its Project Gigabit rollout, resulting in connection for 6,000 additional businesses and homes across Yorkshire and Lincolnshire. The expansion is backed by an additional £11m in public funding, which it said ensures Government investment is directed where it’s needed most. Project Gigabit is a UK Government funded programme allowing hard-to-reach communities to access fast, reliable, gigabit-capable broadband, reaching parts of the UK that might otherwise miss out on upgrades to next-generation speeds. The newly added premises are spread across all Quickline’s existing Project Gigabit network including in West Yorkshire and the York area, North Yorkshire and East Riding of Yorkshire and Lincolnshire. The adjustment ensures that public funding is used effectively, targeting areas with some of the greatest need for improved connectivity based on the latest data. The expansion brings the total public investment in Quickline’s full fibre rollout to more than £300m, covering more than 170,000 premises. The rollout is moving across the whole of Yorkshire and majority of Lincolnshire, with rural communities across all contracts gaining access to broadband from Quickline every week. Dan Hague, project delivery director for Quickline, said: “This is great news for people in underserved areas across Yorkshire and Lincolnshire. By refining our plans with the more recent data, we can extend our reach and connect even more homes and businesses to full fibre broadband where it’s needed most. As a trusted regional delivery partner for the UK government, we’re proud to play a key role in ensuring no community is left behind.”

Tech

SkinBioTherapeutics on firmer footing after acquisitions boost revenues

2025-12-02 10:29:39

Skin health innovator SkinBioTherapeutics is focussing on the launch of a new product in partnership with chemicals firm Croda as it reports a jump in revenue. The Newcastle-based life sciences firm says it has grown revenues to £1.58m and narrowed losses by 25% to £1.04m in the six months to the end of September, as it made a number of mergers and acquisitions to drive growth. The 10-year-old firm is poised to launch its SkinBiotix lysate product at a major cosmetics show in Amsterdam next month, having carried out successful trials with Croda - which makes ingredients for some of the world's biggest consumer brands. Shareholders are likely to see the impact of the work with Croda in the firm's full year end results, but bosses say the firm is already in a much stronger financial position thanks to two acquisitions in the past year. SkinBioTherapeutics bought St Ives-based Dermatonics in January last year, followed by Bio-Tech Solutions Ltd (BTS) in October. Together, the deals have boosted the Newcastle business' expertise and headcount. In the case of BTS, there was said to have been strong revenue increase since the acquisition. Directors say they are continuing the merger and acquisition strategy with an eye out for targets that could bring significant revenue and profit growth. Stuart Ashman, CEO of SkinBioTherapeutics plc, said: "Last year represented a drive for growth through the original corporate platform plus the acquisition of value-added businesses (the M&A strategy) to bring scale and synergies. The commercialisation by Croda of the SkinBiotix lysate has begun and we look forward to sharing the marketing information with shareholders upon its official launch in April. "AxisBiotix, targeting symptoms of psoriasis, continues to have a strong customer retention and we are focused on finding the best commercial form for our acne product, which received very positive feedback in the company's consumer study. "We also completed our second acquisition of the manufacturing and packaging company, BTS. The team's expertise in the health, hygiene and personal care products provides not only new sources of revenue and cash, but also offers an opportunity as a future development platform for our own topical products. With our first acquisition Dermatonics, integration is now complete and we are seeing traction for sales via the Umesh Modi Group partnership.

Tech

Nvidia, Apple, and Tesla stocks soar as Trump halts new tariffs, offering respite to tech giants

2025-12-02 10:29:39

The so-called 'magnificent seven' tech stocks, including Nvidia, Apple, Tesla, and Microsoft, added more than $1.8tr in market value on Wednesday after an unexpected pause in new tariffs by Donald Trump, providing a rare moment of relief amidst an escalating trade war that had unsettled big tech. Shares of these tech giants surged between eight and 19 per cent – with Nvidia alone gaining over $440bn in value, as reported by City AM. This rally propelled the Nasdaq to a historic 12.2 per cent jump – its biggest one-day gain since January 2001 – while the S&P rose 9.5 per cent. In other developments, the Dow increased nearly eight per cent. The US tech sector had been impacted by recently imposed global tariffs from Donald Trump's aggressive trade policies earlier this week. Starting with an initial unilateral 10 per cent tariff on a wide array of goods, Trump's announcement triggered severe market reactions. Moreover, it erased billions of dollars off the market value of the Magnificent Seven tech giants in just a few days. Within two days, these firms collectively lost over $1.8 trillion in market value. The Nasdaq composite posted its worst weekly performance since the onset of the pandemic, and officially entered a bear market. Nvidia and Tesla led the sell-off, with shares of both dropping by over six per cent. These firms, with extensive supply chains in Asia, are particularly vulnerable to the tariff hikes. Apple, the tech giant boasting the title of the world's most valuable company, experienced a sharp decline in its market value as shares fell over six per cent as trading commenced on Monday. "Big tech's AI ambitions require enormous capex, cross border talent, and complex hardware dependencies," commented Michael Ashley Schulman from Running Point Capital. "Tariff and trade clarity are critical to removing layers of uncertainty from budgeting decisions." In what could be considered a breath of fresh air for the big tech industry, the recent reversal in tariffs indicated a significant change in stance from former President Trump, who declared a 90-day moratorium on most new tariffs alongside introducing a significantly reduced reciprocal rate of 10 percent levied on imports from numerous countries. Come Wednesday, Alphabet, Google's parent company, publicly confirmed its commitment to invest $75bn in expanding data centres – an act reflecting a strong belief in their competitive edge within the AI sector despite the unpredictability of international policies. Tesla's performance, albeit down over 28 percent for the year, saw a remarkable uplift, skyrocketing by up to 23 percent during intra-day trading. Other tech behemoths also fared well with Apple recording a rise of over 15 percent and Microsoft inching upwards by 10 percent. On the retail front, US shoppers appeared to scramble for Chinese-manufactured electronics, spurred by concerns over potential price surges. Apple's physical retail outlets registered an increase in customer flow, with one staff member relaying to Bloomberg: "almost every customer asked me if prices were going to go up soon." "For the tech stocks this was much needed relief and pulls stocks and the market from the edge of the cliff," remarked Dan Ives, an analyst at Wedbush Securities. "Although China remains the biggest X factor, especially for Apple and the broader supply chain." Despite this mild reprieve for technology equities, the White House has concurrently hiked tariffs on Chinese goods from 104 percent to 125 percent, maintaining pressure on the world's second-largest economy and its predominantly tech-oriented export sector.

Tech

Aelius Biotech scientists raise £750,000 to expand overseas presence

2025-12-02 10:29:39

A Newcastle biotech company is set to expand its overseas presence after raising a further £750,000. Aelius Biotech’s laboratory gut model is used to trial new drugs and foodstuffs without the need for animal testing, with its model showing how substances will be digested by the body, helping its customers to de-risk product development and improve formulations. Now the firm has raised the six-figure sum from the North East Venture Fund, supported by the European Regional Development Fund and managed by Mercia Ventures, which it will use to expand its presence in the US and European markets and complete work on its new laboratory in Newcastle’s Blandford Square. Aelius’s model is the only one of its type that can simulate all three stages of the digestion process, providing testing services for consumer health, pharmaceutical and ‘functional food’ companies including Huel. The business was founded in 2018 by Dr Peter Chater, Dr Matt Wilcox and Professor Jeff Pearson based on their research at the University of Newcastle and the company received initial £1.25m funding from Mercia Ventures and the North East Venture Fund in 2023. Since then it has increased staff from five to 15 and brought in new food clients, including a number of alternative protein and lab-grown meat manufacturers. It also doubled its revenue in 2024. Dr Chater, the company’s CEO, said: “Over the last year we’ve demonstrated the market for novel and improved in vitro testing methods, and expanded our customer base as well as the Aelius team. Along with our move to our new premises, this latest funding will enable us to accelerate our growth in international markets, particularly in the US.”

Tech

Sheffield sensor start up Phlux Technology seals £9m investment deal

2025-12-02 10:29:39

Yorkshire connectivity specialist Phlux Technology is poised to create jobs and boost production capacity after sealing a £9m fundraise. The infrared sensor startup, founded in 2020 as a spin-out from the University of Sheffield, has secured the significant sum in a Series A funding round led by BGF, and existing investors Octopus Ventures, Northern Gritstone and Foresight. Phlux Technology’s work is focused on the next generation of fibre broadband connectivity, and the funding will drive its expansion into the optical communications and sensing markets, based on its antimonide-based semiconductor technology. The company’s infrared sensors are more sensitive than current alternatives while requiring less power, enabling faster, more efficient connectivity for applications like fibre-optic broadband, as well as advanced sensing for vehicles and industrial applications. The technology has the ability to boost data transmission speeds by up to five times, with data rates as high as 50 gigabits per second. Phlux has already built a global supply chain and serves customers across Asia, Europe, and North America and it now plans to scale its team, increase production capacity, and strengthen commercial partnerships to meet growing international demand. Ben White, CEO of Phlux, said: “This funding comes at a pivotal moment as demand for high-speed optical communication systems is growing enormously. By developing world-class, high-performance infrared sensors, we are enabling industries to push the boundaries of connectivity, sensitivity and efficiency by removing a technology bottleneck that has persisted for over 20 years.” Luke Rajah, partner at BGF, said: “Phlux has developed a game-changing technology in a sector that’s long overdue for disruption. With strong academic roots, early commercial traction, and a compelling roadmap, the team is well-positioned to lead in infrared sensing. Backed by BGF’s deep tech investment experience, we’re excited to support Phlux in scaling globally across the sensing and telecommunications markets.” Owen Metters, investor at Octopus Ventures, said: “When we first invested in Phlux, we were impressed with both the team’s expertise in developing novel semiconductor materials, and their ambition to revolutionise infrared sensing. We’ve been delighted with their progress to date and are excited to see this funding deployed to grow the team and bring two exciting new product ranges to market.”

Tech

Cardiff digital agency Spindogs delivering new GP surgery solution in England

2025-12-02 10:29:39

Cardiff-based digital agency Spindogs has secured a six-figure contract for NHS England to develop a new website solution for surgeries. The two-year project, the first of its kind in the UK, is part of a wider strategy to reduce the number of incoming patient calls and on-site drop-ins being experienced at doctors’ surgeries, encouraging members of the public to instead use online booking systems as a first port of call. More than 60 GP practices have now adopted Spindogs’ new digital platform is optimised for both mobile and desktop. To date, a 44% increase in online patient registration and a 66% increase in online appointment making has been reported across sites where the new websites have been implemented. Spindogs is aiming for this number to rise over the next year, translating to long-term cost savings through reduced staffing needs, improved efficiency, and better patient management. The project comes as local GP surgeries face an uphill battle to manage communications and ensure the effective treatment of patients within the context of a growing and aging population. To help ease the burden, NHS England is aiming for 25% of all appointments to be booked online. Liam Giles, managing director of Spindogs said: “A lack of confidence in the digital offerings of GP practices is causing patients to bypass GP websites entirely - favouring more traditional communication methods like telephone calls and in person visits - resulting in more work for staff and an inefficient system. “With so many GP surgeries at bursting point, creating or refining a website simply isn’t a priority in terms of time or financial resources for many of them. However, without an effective website in place, patients understandably turn to calling or visiting instead, which blocks phone lines and increases workload unnecessarily as many of their requests could be dealt with easily online.” Spindog hopes that the project will be rolled out across other parts of England, as well as Wales. Mr Giles said “This project has been more successful than we could have ever imagined, with many of the surgeries we’ve worked with reporting a significant drop in caller numbers, helping to streamline and improve patients’ experiences, reducing pressures on surgeries, and freeing up time for GPs and other staff.

Tech

Newcastle body clock tech innovator Circadacare secures £500k investment

2025-12-02 10:29:39

A healthtech business that uses knowledge of people's natural body clock and neuroscience has landed £500,000 of investment. Circadacare, which moved into The Catalyst building at Newcastle Helix last year, has secured further backing from Northstar Ventures via £250,000 from the North East Innovation Fund, which is supported by the European Regional Development Fund. There was also investment from new and existing angels, as well as a grant from Innovate UK's North East digital launchpad scheme. The five-year-old firm's flagship product, Heleos, combines circadian lighting technology with monitoring capabilities and is intended to support independent living and reduce care costs. It comes in response to the country's ageing population, and the pressure that puts on the health and social system. Circadacare has identified that standard lighting used in homes, hospitals and supported living facilities can negatively impact the body's natural rhythm, which in turn effects patients' sleep, mood and cognition. That can increase the risk of falls. Heleos is an easy-to-install smart lamp that gathers data about movement and sound, determining when an intervention may be required and providing feedback to clinicians, carers and families. Circadacare is now working with local authorities, domiciliary care providers and care home operators and was awarded a grant from the Longitude Prize in Dementia in 2023, along with several healthy ageing grants from Innovate UK. Tom O’Neill, investment manager at Northstar Ventures, said: "We’re delighted to support Circadacare with further investment which will be used to deepen commercial partnerships with key customers and improve the quality of care received by users. Congratulations to Tallie and the wider Circadacare team." Tallie Bush, COO, Circadacare, said: "This funding comes at the perfect time for Circadacare. It enables us to accelerate our development roadmap and expand Heleos' capabilities based on the valuable feedback we've received from our early adopters. We're passionate about refining the technology that's already making a difference in elderly care settings. With Northstar Ventures' support, we can enhance our offering, building on our strong foundation to create even more powerful tools for older adults and their carers." The latest injection of funding from the North East Innovation Fund follows last year's £1.3m fund raise by Circadacare. That came alongside additional grants of £358,000 from Innovate UK through the Healthy Ageing Innovate UK grant and £80,000 that came from the Longitude Prize in Dementia.