Participated · Seed · Sep 2023

Microplate Dx has developed a prototype point-of-care diagnostic platform that can confirm the presence of bacteria and rapidly identify which antibiotics will be effective, enabling clinicians to prescribe the optimum antibiotic in minutes. The platform uses a cartridge-based workflow: a urine sample is added to a cartridge which is inserted into the device, with results expected within an hour. The company will initially target urinary tract infections (UTIs) and has completed several successful clinical studies to date. With the product currently at prototype stage, Microplate Dx plans to continue clinical trials through 2024/25 and move toward commercial launches across European pharmacies while exploring entry into the US market. Spun out from the University of Strathclyde in 2022 and based at the university, the firm is led by CEO Dr Stuart Hannah and employs 12 staff, with plans to grow headcount by about 25% over the coming year. Microplate Dx was also selected for the AI Accelerator Programme run by the Bayes Centre and Edinburgh Innovations.

Participated · Equity · Jul 2023

Thalia provides the Amalia platform, which incorporates AI and machine learning to enable semiconductor companies to reuse existing intellectual property for new technologies and applications. The platform aims to let customers quickly diversify and monetize existing design portfolios while freeing in-house engineers to focus on new product development. Founded in 2011 by CEO Sowmyan Rajagopalan, the company is based in Cwmbran, Wales, and also has an office in Chippenham. Thalia employs 26 people, has completed over 50 projects since its first sale in 2015, and sells to clients worldwide. The company has increased revenue by over 300% in the past two years and has recently started a sales drive in Europe, Israel, and China. It plans to use the new funds to broaden operations, further develop its AMALIA software suite, strengthen its board with industry experts, and expand its engineering team by about 20 hires in the next 12 months.

Participated · Equity · May 2023

IbisVision's refractive technology allows optometrists to run standard eye tests and generate full optical prescriptions remotely over the internet. The company received a Food and Drug Administration (FDA) listing in March 2023. It has raised £4.5M and plans to use the funds to double its workforce and open a US office in Fort Lauderdale, Florida. IbisVision is targeting the US market—where about 110 million eye tests occur annually—and is also eyeing expansion into the European Union. The funding round was led by Compiler VC with participation from Deepbridge and Scottish Enterprise through Scottish Growth Investments. Compiler VC is Miami-based and described as an optical sector specialist that developed and sold the For Eyes retail optician business with 150 US locations.

Participated · Series A · Mar 2023

GenoME Diagnostics is a spin-out from Queen’s University Belfast built on over a decade of academic research at the Patrick G Johnston Centre for Cancer Research. Its lead product, OvaME, is a novel blood test designed for earlier and more accurate detection of ovarian cancer. The company plans to extend its pipeline and underlying technology to other cancer types and potential non-cancer applications. GenoME’s team includes founders Prof Paul Mullan, Dr James Beirne and Dr Laura Feeney, with Dr Shannon Beattie as CEO and Chris Mosedale as Chief Business Officer. The startup says its first commercial markets are disease monitoring and diagnosis, with a longer‑term ambition to enter public screening programmes. Recent funding will support completion of lab testing, regulatory filings in the EU, and expansion of its regulatory approach to the UK and North America. The company previously raised a £300k pre-seed round in 2021.

Participated · Seed · Jan 2022

Aegiq develops a quantum photonics platform that produces single-photon semiconductor components intended for quantum-secure networking, sensing and information processing. Its devices emit indistinguishable photons for use in quantum key distribution to protect data from quantum computers. The company is working to embed these single-photon sources into communication fibers, satellite uplinks and other systems. Aegiq says it aims to become the backbone of the photon-based quantum technologies market and will use new funds to "unlock new opportunities" for customers. The leadership team (CEO Dr Max Sich, CTO Dr Scott Dufferwiel and CFO Andrii Iamshanov) spun the company out of the University of Sheffield in 2019 and bring over two decades of quantum expertise. Aegiq is an alumnus of the Sheffield City Region’s Growth Hub programme, Y Accelerator.