Business & Technology
Online Oceans raises GBP £4 million in Seraphim deal
KAREN JOY BACUDO
Finance Editor
Online Oceans has raised £4 million to expand its autonomous surface vessel business in a funding round led by Seraphim Space.
The investment will support manufacturing, deployments and rising customer demand across defence and commercial markets. Other investors included Peter Rive, Co-Founder of SolarCity, Quantum Systems founders Frank Thieser and Florian Seibel, and Koro Capital.
Online Oceans builds autonomous surface vessels and fleet software for maritime surveillance and security. Its products are designed for governments and commercial operators seeking longer-duration monitoring of coastal waters, ports, borders, strategic chokepoints and subsea infrastructure.
The company was founded in 2025 by George Morton and Alistair Douglas. Morton leads the business, while Douglas oversees command-and-control software and fleet systems.
Fleet system
At the centre of its system is Scout, a compact solar-powered autonomous surface vessel. It is paired with Tether, a cloud-based command platform that allows operators to manage missions, monitor assets and review data in real time.
Online Oceans has designed the system for dense fleet deployment rather than occasional missions by individual vessels. It argues that existing maritime coverage often depends either on crewed ships with high operating costs or on autonomous systems that are too expensive to deploy at scale.
The funding comes amid growing concern over maritime security, including the protection of subsea cables, offshore energy assets, ports and coastal borders. Pressure on defence budgets has also increased interest in lower-cost systems that can stay at sea for longer.
Online Oceans says it is already working with initial customers in defence, maritime domain awareness and ocean data. It has also begun data sales, and its first months of production were sold out ahead of commercial deliveries.
Security use
The company is also in discussions about using its autonomous surface fleets for coastal and offshore security missions in the Gulf. Those talks include early warning of incoming aerial threats through acoustic and optical sensing, passive acoustic monitoring of the subsea environment to detect submarines and uncrewed underwater vehicles, and surface intelligence and surveillance tasks such as AIS spoofing detection and visual monitoring.
Online Oceans is part of a broader push in Europe to build defence and security technology closer to home as governments reassess vulnerabilities in critical infrastructure. Maritime surveillance has become a particular concern as attacks on subsea infrastructure and wider geopolitical tensions expose gaps in continuous monitoring.
Its approach is based on deploying larger numbers of lower-cost vessels connected to a central software platform. That differs from patrol models built around a smaller number of expensive assets, which can leave stretches of water monitored only intermittently.
Investor view
Seraphim Space is known for backing companies in the space and deep technology sectors. Its involvement adds to a group of investors with backgrounds in clean technology, aerospace and autonomous systems.
Online Oceans says it moved from first builds to a production ramp in little more than a year. That pace, along with early customer agreements, appears to have helped attract investors seeking defence technology with clearer paths to deployment.
Britain and other European countries have placed greater emphasis on maritime resilience as they assess the security of undersea energy and communications links. The issue has expanded beyond conventional naval defence to include surveillance of commercial infrastructure and the detection of covert activity near cables, pipelines and offshore sites.
For border agencies and coastguards, persistent monitoring is also tied to migration control, smuggling and illegal fishing. Autonomous fleets are appealing partly because they can extend surveillance without the crewing costs and maintenance burden of conventional patrol vessels.
George Morton, Co-Founder of Online Oceans, said: “Persistent maritime coverage has been too expensive for too long. That has limited what governments and operators can actually see, protect and respond to at sea. We built Online Oceans to change that. This funding allows us to scale production and support customers who need a far more practical way to monitor critical waters, protect infrastructure and maintain awareness over long periods.”
Haverty, Seraphim Space, said: “Online Oceans is building a category-defining company at the intersection of defence, maritime autonomy and data. The breakthrough here is not just a lower-cost vessel. It is a new coverage model: dense, persistent fleets that can monitor critical waters continuously rather than sporadically. What impressed us was not just the technical insight, but the speed of execution. In little over a year, the team has moved from founding to production ramp, early customer traction and first data sales. We believe they have the potential to build a global leader in this category.”
Business & Technology
Wipro & Rubrik launch enterprise resilience service
SOFIAH NICHOLE SALIVIO
News Editor
Wipro and Rubrik have launched Enterprise Resilience as a Service, aimed at enterprises facing cyber and operational disruptions.
The service combines Rubrik’s cyber and data resilience platform with Wipro’s WINGS delivery platform, part of the Wipro Intelligence portfolio. It is designed to move resilience beyond conventional backup and disaster recovery into a continuous operating model spanning technology, operations, and business processes.
The launch reflects growing demand from large companies for recovery planning that covers not only data restoration but also business continuity, identity protection, and responses to attacks that affect multiple systems at once. It also comes as organisations adopt more artificial intelligence tools, adding new operational and governance risks to existing cyber security concerns.
Under the service, companies identify critical systems, define the level of disruption the business can tolerate, and set recovery priorities. Those assessments then shape system architecture, governance models, and recovery playbooks.
Rubrik’s role centres on the underlying resilience platform. The service includes immutable protection, rollback of AI-driven changes, rapid identification of clean recovery points, threat-aware recovery, and protection for critical identity systems.
Wipro’s WINGS platform is intended to automate recovery workflows and support continuous assessment of a company’s resilience posture. The approach is designed to shift resilience from an activity triggered by incidents or periodic reviews into an ongoing management process.
Business focus
Satish Yadavalli, Global Business Head – Cloud, Infrastructure, and Security Services at Wipro, outlined the company’s position on the service.
“Where most resilience engagements start with technology, Wipro’s starts with the business use cases, and that distinction is what makes ERaaS stand out,” said Satish Yadavalli, Global Business Head – Cloud, Infrastructure, and Security Services at Wipro. “Together with Rubrik’s Zero Trust recovery capabilities, ERaaS will identify critical systems, map impact tolerances, and quickly establish recovery priorities. Leveraging our consulting capabilities, we will work closely with clients to translate these insights into resilience-by-design architectures, governance frameworks, and recovery playbooks.”
The companies are positioning the service as a consulting-led offering rather than a standalone software product. That suggests Wipro is seeking to tie cyber recovery more closely to broader transformation and risk programmes, while Rubrik extends its reach into larger enterprise accounts through service partners.
The partnership also highlights how cyber recovery has become a more prominent part of enterprise technology spending. Businesses have traditionally separated backup, disaster recovery, cyber security, and operational continuity into different teams and budgets. Vendors and services firms are now trying to bring those strands together as attacks become more disruptive and boards seek clearer accountability for recovery.
Recovery strategy
Rubrik described the joint service as part of a wider resilience agenda that treats recovery as a core operating requirement rather than an emergency measure.
“Together with Wipro, we are helping customers operationalize cyber recovery as a core part of a broader enterprise resilience strategy,” said Alok Agrawal, Chief Solutions Officer at Rubrik. “Moments of disruption are inevitable, which is why this joint offering is critical for safe, confident, agile recovery.”
Wipro employs more than 240,000 people across 65 countries and has been expanding its AI-related services through the Wipro Intelligence portfolio. Rubrik, which focuses on data protection and cyber resilience, has been building its position around securing and recovering data, identities, and workloads across cloud environments.
The launch adds to a crowded market for managed cyber resilience and recovery services, but the companies are drawing a distinction through continuous assessment and business-led design. In practice, customer uptake is likely to depend on whether enterprises are prepared to embed recovery planning more deeply into day-to-day operations rather than treat it as a compliance exercise or an insurance policy.
Rubrik’s platform in the new service also supports recovery of data, infrastructure, and identities while aiming to reduce downtime and business risk.
Business & Technology
Cotswolds pub and England’s oldest inn up for £950,000 sale
The Shaven Crown, believed to be among the oldest licensed inns in the country with a history of serving pints to patrons dating back to 1384, is up for sale to new owners.
The village pub in Shipton-under-Wychwood, between Burford and Chipping Norton, is currently closed and not trading, and has now been brought to the market by agent Colliers.
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Available freehold with vacant possession, the grade II listed property comprises eight guest bedrooms, a range of distinctive public trading areas, a commercial kitchen, a courtyard and gardens, customer parking, and spacious three-bedroom owners’ accommodation.
The pub is one of England’s oldest licenced inns, pouring pints since 1384 (Image: Colliers)
It’s most unique feature is the medieval Great Hall, a stunning space at the heart of the building that showcase it’s heritage with high ceilings, Cotswolds stone walls and open fireplace.
Peter Brunt, Director in the Hotels Agency team at Colliers, said: “The Shaven Crown is a truly special property and one that I know exceptionally well.
“I was fortunate to be involved in its sale in both 2013 and 2019 and then acted on the letting of the business in 2023.
“Over that time, I have come to appreciate not only the quality of the building itself, but also the affection in which it is held by guests, local residents and operators alike.
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“Having welcomed travellers for more than six centuries, The Shaven Crown has an extraordinary story behind it.
“We are pleased to have been entrusted once again with its sale and are confident that it will attract buyers who recognise both its commercial potential and its importance as one of the region’s most significant historic inns.”
The landmark hotel and pub was refurbished by previous owners Evelyn and Phil Roberts, who invested £600,000 after they bought the property in 2013 and before they sold it on in 2019.
Previous owners Evelyn and Phil Roberts (Image: Simon Williams)
Originally constructed as a hospice for the monks at nearby Bruern Abbey, the aptly named inn still has many of its original medieval features, including its Tudor door, cobbled floors and period features like mullioned windows.
As a hotel it reportedly once hosted Queen Elizabeth I and wartime fascist leader Oswald Mosley.
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The sales agent added that ‘substantial investment’ has been made to revamp the fabric of the property, like its roof and building infrastructure, to preserve its historic character while enabling its future use as a hospitality destination.
The Shaven Crown’s bar seats about 30, with beamed ceiling and fireplace, a snug for around five or six guests and a breakfast room seating 12 to 18 diners.
It’s accommodation offers guests easy access to the Cotswolds, to favoured destinations such as Burford, Stow-on-the-Wold, Bourton-on-the-Water and The Slaughters, while Oxford, Cheltenham, Stratford-upon-Avon and Cirencester are all within comfortable travelling distance.
Business & Technology
UK homebuyers face unexpected costs in 95% of moves
PEXA has published research showing that 95% of recent UK homebuyers faced unexpected costs when moving home, highlighting growing uncertainty in the buying process.
The survey covered 1,050 UK homeowners who had moved in the previous 12 months and was supplemented by analysis of 34,207 homebuyer transactions. It found that 83% of respondents described the process as stressful, while the share reporting unexpected costs rose sharply from 62% in 2025 to 95%.
Just under two-thirds of those who faced extra charges said the costs were significant, and nearly half believed they could have been avoided.
The data suggests buyers are concerned not only about the size of the bill, but also about when costs emerge and how little visibility they have over the transaction. Respondents said they expected the period from offer acceptance to moving in to take around four months, but broader market data cited by PEXA indicates the full journey often lasts seven to eight months.
Cost pressure
Unexpected costs stood out even though many buyers said they understood the fees charged by the professionals involved in a transaction. The research found that 85% said conveyancer fees were transparent, compared with 79% for estate agent fees and 69% for mortgage broker fees.
The gap between fee transparency and overall surprise points to a wider structural problem. Costs may be visible in isolation, but buyers still face a process in which delays, repeated checks and fragmented communication can create extra expense as a purchase unfolds.
The study comes as the Government pushes ahead with its Home Buying and Selling Reform Roadmap, intended to improve how information moves across property transactions. Industry groups have increasingly focused on reducing duplication, improving access to verified information and cutting the uncertainty that can build as a sale progresses.
PEXA, which began in Australia and now operates in the UK, has been expanding its role in the British market. The group launched a refinancing product in the UK before introducing its sale and purchase offering.
Industry response
Krystle Kocik outlined the company’s view of the findings.
“Buying a home should be exciting, yet too many people are left dealing with unexpected costs and a lack of visibility over what’s happening and when. Our research suggests that improving certainty, not just speed, should be the defining objective of the next generation of UK property transactions, and will benefit estate agents, mortgage brokers, lenders and conveyancers. Achieving this certainty depends not only on better information, but on ensuring trusted property data, verified identities, the secure movement of funds and the transfer of legal ownership are connected throughout the transaction. As government and industry work together to modernise the process, we see a significant opportunity to remove surprises and give consumers more confidence in what is likely the biggest financial commitment of their lives,” said Krystle Kocik, UK co-CEO of PEXA.
Other industry bodies said the figures reflect concerns already being raised across the market.
“This report reinforces what our mortgage lender members are already telling us: uncertainty, not speed, is the real barrier to confidence, and better upfront information, reusable verified data and clearer visibility across the transaction are what will shift that. UK Finance is working with government, regulators and industry to ensure this momentum translates into a genuinely more connected homebuying experience, and this report is a helpful contribution to the discussion,” said Alison Verlander, director of mortgages at UK Finance.
Conveyancers, who remain central to property transactions, also pointed to pressure for clearer communication alongside legal due diligence.
“Conveyancers are central to helping people navigate one of life’s most important decisions, ensuring that the property they are buying is right for them and that there are no hidden problems. This research shows consumers continue to value professional expertise, while also expecting clearer communication, greater transparency and a more predictable experience. A modern conveyancing profession will combine legal expertise with efficient digital processes to deliver better outcomes for consumers,” said Stephen Ward, director of strategy and external relations at the Council for Licenced Conveyancers.
The debate over reform also extends to the use of data and digital identity across the property chain. Supporters argue that if buyers, sellers, lenders and legal representatives can rely on information that is verified once and shared securely, repeated requests and late-stage surprises could be reduced.
“This research reinforces that consumers are ready for a property market built around trusted, shareable data rather than repeated requests for the same information. As Smart Data, digital identity and trust frameworks become more widely adopted, buyers will benefit from greater certainty, fewer surprises and increased confidence throughout the home-moving journey,” said Maria Harris, chair of the Open Property Data Association.
“Consumers are asking for a homebuying process that is more connected, transparent and trustworthy. Government, regulators and industry are working together to enable trusted information to move safely between organisations, reducing friction while improving consumer outcomes. Success will be measured not simply by how digital the process becomes, but by how much certainty, confidence and efficiency it delivers for everyone involved,” said Leon Ifayemi, director of coalitions and research at the Centre for Finance, Innovation & Technology.
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