Regulators Approve Evri–DHL eCommerce UK Merger

The Competition and Markets Authority has cleared the merger between DHL’s UK eCommerce arm and parcel delivery company Evri, allowing the deal to proceed without a further investigation.

Under the agreement, DHL Group will take a minority stake in private equity-backed Evri, with the combined business expected to handle around 1 billion parcels and 1 billion business letters annually. The move marks Evri’s entry into the UK business letter market, with DHL eCommerce UK set to operate under the “Evri Premium” brand.

Evri, acquired by US investment firm Apollo in 2023 for £2.7bn, will retain its core branding while expanding its international reach. The merger gives the group access to DHL’s global eCommerce network across Europe, the US, and key Asian markets such as India, offering faster cross-border shipping and a wider out-of-home delivery network of nearly 150,000 global access points.

The combined operation will bring together over 30,000 couriers and van drivers, 12,000 employees, and a fleet of 8,000 vehicles. Martijn de Lange, CEO of Evri, will lead the enlarged business, while Stu Hill, CEO of DHL eCommerce UK, will become Managing Director of Evri’s Premium DHL network.

Commenting on the deal, de Lange said: “By combining Evri’s scale, innovation and DHL eCommerce’s best-in-class premium van network, we are creating the pre-eminent parcel delivery group in the UK. This transaction will further expand our access into the European and global eCommerce markets.”

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Tom Hill Appointed CEO at Zyntrix

Zyntrix, the UK fintech unifying open banking, loyalty, and digital identity, has appointed Tom Hill as its new Chief Executive Officer. Hill joins the company following his role as Director of Digital at Poundland and Dealz, bringing over 20 years of experience across retail and hospitality, including operations, customer experience, business development, and digital transformation.

Zyntrix’s platform combines payments, loyalty, and ID verification into a single, seamless solution. Its open-banking payment system aims to reduce transaction costs, accelerate settlement, and enhance security through direct account-to-account payments. Integrated loyalty features allow retailers to reward customers instantly at the point of sale, while built-in ID verification ensures compliance with age-restricted sales and GDPR regulations.

Hill said: “Over the past 20 years, I’ve been fortunate to work with some of the biggest and best brands in retail and hospitality — leading operations, customer experience, business development and transformation strategy, across both physical and digital estates. Along the way, I’ve learnt a huge amount from some brilliant people — insights I look forward to leveraging as I enter this new and exciting chapter. At Zyntrix, we have a simple but ambitious mission: to unify Loyalty, Open Banking and Digital ID into one seamless customer experience.”

Under Hill’s leadership and with Matt Findel-Hawkins as commercial director, Zyntrix plans to leverage its technology to help businesses optimize existing loyalty programmes or launch new ones, streamline checkout processes, and improve customer engagement across sectors. The company’s mission is to reduce costs, strengthen loyalty, and simplify compliance - all through one unified platform.

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Phasecraft Secures  $34m Series B to Accelerate Quantum Computing Applications

Phasecraft, a leading quantum algorithms company, has raised $34 million (£25.3 million) in a Series B funding round co-led by Plural, Playground Global, and Novo Holdings’ Quantum Fund. The investment will support the company’s mission to turn quantum computing’s theoretical potential into practical, real-world applications.

Founded in 2019 by Professors Toby Cubitt, Ashley Montanaro, and John Morton, Phasecraft is developing hardware-agnostic quantum algorithms aimed at solving complex problems in materials science, chemistry, energy networks, and logistics optimization. By combining quantum and classical computing, Phasecraft enables today’s noisy intermediate-scale quantum (NISQ) devices to tackle problems that were previously out of reach.

Phasecraft is already collaborating with organizations including Johnson Matthey, Oxford PV, the UK’s National Energy System Operator (NESO), and BT, delivering early-stage quantum solutions that can optimize energy networks, accelerate material discovery, and support biological research.

“Our algorithms are delivering meaningful results now, from simulating the physics of complex materials to optimizing large energy networks,” said Ashley Montanaro, CEO of Phasecraft. “With the support of visionary investors like Plural, Playground Global, and Novo Holdings, we can accelerate the application of quantum computing in industry.”

The funding brings Phasecraft’s total raised to over $50M, including grants, and will further expand its R&D efforts and industrial collaborations. The company also recently opened a Washington D.C. office to strengthen its global R&D capabilities.

Investors emphasised Phasecraft’s potential to reshape the quantum landscape. “Phasecraft’s hardware-agnostic approach and world-class team are creating algorithms that are millions of times more efficient, helping to solve real-world problems from material discovery to energy network optimization,” said Ian Hogarth, partner at Plural.

Peter Barrett, general partner at Playground Global, added: “Phasecraft’s work brings us closer to a world where quantum-enhanced design in chemistry, materials, and medicine becomes a reality.”

Novo Holdings’ Jeroen Bakker highlighted the company’s potential impact on life sciences, noting that quantum algorithms could significantly reduce drug development timelines and enable healthcare breakthroughs.

Phasecraft continues to partner with major quantum hardware providers including Google Quantum AI, IBM, Quantinuum, and QuEra, aiming to bring quantum advantage to practical applications sooner than anticipated.

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Cyted Health Secures $44M Series B to Accelerate US Expansion

Cyted Health, a diagnostics firm founded by experts from the University of Cambridge, has raised $44 million (£32.5 million) in a Series B funding round to accelerate its international growth and expand its cutting-edge gastrointestinal molecular diagnostics platform into the US market.

The Cambridge-based company with Marcel Gehrung at the helm (CEO), has already deployed its technology in over 35,000 NHS tests and aims to leverage the funding to consolidate existing UK contracts while expanding its presence across the Atlantic. The recent launch of its diagnostics platform in the US marks a major milestone in the company’s mission to detect esophageal diseases earlier and improve patient outcomes.

“This Series B financing marks a defining moment for Cyted as we continue to deepen our commitment to detecting esophageal diseases at the earliest possible stage,” said Marcel Gehrung, co-founder and CEO of Cyted Health. “This investment will help us strengthen our leading position in the market, expand our US footprint, and bring new life-saving innovations to our advanced diagnostics portfolio.”

The round was led by EQT Life Sciences, Advent Life Sciences, and British Business Bank, with additional participation from Morningside and BGF.

“Cyted is an excellent example of the high-impact businesses we aim to support,” said Carmine Circelli, Director of Life Sciences at British Business Bank. “Their innovation has the potential to transform early cancer detection and create lasting health outcomes in the UK and globally.”

UK Science Minister Lord Vallance also welcomed the announcement: “I am pleased to see the British Business Bank supporting Cyted – a company that demonstrates how world-class life sciences research from our universities can be translated into successful commercial opportunities with real potential to improve lives. Life sciences remain a critical part of this government’s ambitions for both the economy and healthcare, and through our Life Sciences Sector Plan, we will continue to support the industry’s growth and success.”

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Norwegian AI Firm Nscale Launches London Base, Plans to Hire 100 Specialists

Norwegian AI company Nscale has opened a new London office and announced plans to recruit 100 AI specialists over the next 12 months, reinforcing its commitment to European growth and the UK’s AI ambitions.

Described as an “AI hyperscaler,” Nscale develops advanced technology platforms alongside its own energy-efficient, AI-focused data centres. The Mayfair office is set to become a strategic hub for the company’s European operations, supporting both private and public sector adoption of AI.

“London is a natural anchor for this vision,” said Josh Payne, CEO of Nscale. “As one of the world’s most dynamic hubs for technology, finance, and policy, it connects us to customers, partners, and policymakers across the continent. It also gives us a base from which to deepen collaboration and accelerate the adoption of AI across industries and public life.”

Nscale plans to deploy 10,000 NVIDIA Blackwell GPUs at the London site by 2026. The facility will be designed to train and serve the next generation of large language models, scientific AI systems, and real-time intelligent applications.

“Europe has always been more than a market,” Payne added. “It is a proving ground for how technology can serve society — balancing innovation with responsibility, and ambition with trust. From pioneering research to forward-looking regulation, Europe is helping to define the next era of AI. At Nscale, we see this as a once-in-a-generation opportunity: to build the infrastructure that ensures Europe can lead on its own terms, with sovereignty, sustainability, and scale at the heart of progress.”

With David Power at CTO, the launch of the London hub underscores Nscale’s ambition to be a major player in the European AI ecosystem, while advancing the development of energy-efficient AI infrastructure for business and research.

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