Phlux Technology, a spinout from the University of Sheffield, has raised £9 million in Series A funding to accelerate its entry into new markets. BGF led the funding round, which also included contributions from Octopus Ventures, Northern Gritstone, and Foresight.

The investment will help Phlux build on its breakthrough antimonide-based semiconductor technology, which delivers highly efficient, low-noise infrared sensors. These sensors are poised to revolutionise optical communications, enabling up to five times faster data rates and enhanced sensitivity compared to current devices. The funding will also drive expansion into industries such as industrial automation, defence, vehicle safety, and gas sensing.

With its first engineering samples showing notable performance improvements, Phlux plans to scale production, expand its engineering and commercial teams, and launch two new product ranges targeting optical communication and sensing systems. Already serving customers across Europe, Asia, and North America, the company is set to deepen its global presence and collaborate further with industry leaders.

Phlux CEO Ben White highlighted the significant market demand for high-speed optical communication systems and stated that this funding will help address long-standing technology bottlenecks.

With funding from the York and North Yorkshire Combined Authority, City of York Council and its partners will reimagine York’s historic city centre and develop a ‘city centre spatial plan’ known as ‘Reimagining York Streets, to tell a new story about the city centre’.

Leeds-based cloud services provider virtualDCS has been acquired by private equity firm MonacoSol, securing a majority stake in an undisclosed deal. MonacoSol’s acquisition is part of its broader strategy to expand its portfolio, which includes investments in sectors like construction software, fintech, and B2B services.

Key leadership changes accompany the deal. Co-founder Dan Nichols returns as Chief Technology Officer (CTO) after a decade-long tenure at Sleek Networks, Secura Hosting, and WebContractor. Former CTO and co-founder John Murray takes on the role of solutions director. Kieran Brady has been appointed Chief Revenue Officer, bringing experience from major companies such as BT, Capita, and Deutsche Telekom.

MonacoSol’s backing is expected to help accelerate virtualDCS’s growth. The company will focus on enhancing its offerings in data protection, cyber resilience, and technological capabilities. The company aims to modernise its services and expand its resilience-driven solutions to better meet businesses’ growing data security demands.

A recent protest across Lincolnshire, involving a flotilla of canal boats and cruisers, highlights growing concerns over the lack of government funding for the UK’s inland waterways, posing a potential business risk for industries reliant on them. The protest, organised by Fund Britain’s Waterways (FBW), draws attention to the urgent need for increased investment in maintaining the nation’s canals and rivers, contributing significantly to the UK economy.

Waterways generate £2.5 billion annually through water-based tourism, while also offering vital social, health, and environmental benefits. However, the FBW, a coalition of groups representing hundreds of thousands of users, warns that rising maintenance costs and climate change challenges threaten to undermine the sector’s sustainability.

For businesses that depend on waterways for logistics, tourism, and recreation, the risk of reduced government funding could result in deteriorating infrastructure and diminished operational capacity. While the Canals and Rivers Trust currently receives £740 million in government grants through 2027, future funding remains uncertain, with reduced support expected beyond that period.