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The Venture Codex

MD One Ventures

1 Connaught Place, London, England, W2 2ET, United Kingdom

Overview

The Venture Capital team dedicated to supporting National Security Innovation for the UK and Allies.

Total investments
8
Lead investments
0
Investments · 12mo
1
Active investors
0

Sector focus

  • National Security
  • Venture Capital
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Investment portfolio

  • Milvus Advanced

    Participated · Seed · Oct 2025

    Milvus Advanced is an Oxford-based deep-tech startup that designs nanoalloy materials capable of matching or exceeding the properties of platinum-group and other critical metals. Its proprietary, independently validated alloys offer superior durability and performance in electrochemical and optoelectronic systems while relying only on abundant elements. Operating on a B2B model, the company targets sectors such as clean energy, transport, chemical manufacturing and electronics, where cost, performance and sustainability intersect. By removing dependence on geopolitically fragile and expensive raw materials, Milvus aims to stabilize supply chains and lower environmental impact. Early pilots are underway with global electrolyser OEMs and chemical manufacturers, showing initial commercial traction. Armed with fresh capital, the firm intends to scale production, grow its team, enter the U.S. market for manufacturing and partnerships, and expand R&D into additional material systems. No revenue or user metrics have yet been disclosed, but management positions Milvus at the forefront of a new materials revolution that underpins the energy transition.

  • Pimloc

    Participated · Equity · Jul 2025

    Pimloc’s core product, Secure Redact, uses AI to automatically detect and anonymise sensitive content across video, audio, screens, and imagery and is delivered via SaaS, APIs, and private cloud. The platform is deployed across sectors including law enforcement, healthcare, education, insurance, transport, and retail, and has integrations with Microsoft, Eagle Eye Networks, Milestone Systems, and Rhombus Systems. Adoption is scaling rapidly, with the company reporting over 120% year-on-year growth in platform adoption, and the platform has anonymised nearly half a billion instances of personally identifiable information (PII). Pimloc is expanding its channel partner network and positioning Secure Redact as privacy-first infrastructure for organisations handling sensitive visual data. Future plans highlighted in the articles include geographic expansion into new regions, deeper sector penetration in privacy-sensitive industries, strengthening ecosystem partnerships, and accelerating adoption in screen redaction, creative content compliance, and fintech workflows. Investors are positioned to provide strategic support across AI, cybersecurity, national infrastructure, and other domain areas to back Pimloc’s next phase of commercial growth. Pimloc builds AI software to quickly anonymize video, automating the blurring of faces and licence plates and offering a suite of visual search services. Its Secure Redact product is sold as a SaaS or delivered via APIs and containers to integrate into local video workflows, and is used by entities that must provide video evidence compliant with GDPR and CCPA. The company serves customers across sectors including transportation, manufacturing, retail, warehousing, education, health, autonomous vehicles, facilities management and law enforcement. Pimloc declined to disclose customer numbers, though CEO Simon Randall said the company has large numbers of users across Europe and the U.S. The startup raised $7.5M in seed funding and previously raised $1.8M in October 2020; the new funds will be used to scale across Europe and the U.S. and to build out sales, marketing and R&D teams. Pimloc plans to expand its product roadmap with a focus on video privacy and compliance, tracking evolving data legislation and public opinion and is in talks with companies about anonymizing visual data to prioritize worker privacy. Pimloc is a U.K.-based computer vision company that builds AI tools to search, classify and redact visual content. It launched a photo classifier called Pholio in 2017 and has since pivoted to focus on visual data protection and search for large image and video collections. Its Secure Redact product automatically detects personal data (faces, bodies, ID cards, tattoos, phone screens) in video and provides an editable, auditable layer for users to review and apply redactions. The company supports multiple deployment models, offering a SaaS solution and on-premise installations to accommodate different data-processing requirements. Pimloc cites use cases across law enforcement (anonymizing bodycam footage), academic research (anonymizing egocentric video datasets), and enterprise customers in mobility, insurance, health and security. It reports over 100 users signed up for the SaaS service and has begun setting up on-premise implementations.

  • Labrys Technologies

    Participated · Series A · Jun 2025

    Labrys builds Axiom, an end-to-end, military-grade command and control platform tailored to humanitarian, defence, and logistics users. Axiom combines biometric identity verification, encrypted communications, geo-tagged task tracking, and built-in audit trails, and includes stablecoin-based payments for areas with limited banking. The company was founded in 2023 by Royal Marine veteran August Lersten and former British Army officer Luke Wattam. Labrys targets large NGOs, defence contractors, peacekeeping agencies, and crisis response units that have historically relied on fragmented tools like email and unsecured messaging. The business has raised $25.5M to date, including a $20M Series A, and plans to use the new capital to expand AI-driven features, stablecoin payment functionality, and customer deployments. Planned product enhancements also include deeper identity infrastructure and stronger access controls to reduce fraud, impersonation, and operational risk. Labrys builds Axiom C2 and Axiom Communicator, a platform that combines encrypted messaging, KYC/e-verification, task management, real-time geolocation and digital payments (via crypto stablecoins) for coordinating teams in high-risk and humanitarian environments. The offering is described as a Slack-meets-location-meets-payments solution designed to replace ad-hoc tools like WhatsApp by enabling verified identities, networked coordination trees and integrated payments. The company says its platform has been used in the field, including assisting evacuations in Afghanistan (claiming 5,000 people helped) and supporting Ukrainian State Emergency Services during the Kakhovka Dam breach. Labrys is veteran-owned; co-founders include CEO August Lersten and COO Luke Wattam, who bring military and government field experience. The startup plans to use new funding to expand development and R&D teams and to build out a commercial sales team. There is no revenue or other financial metric disclosed in the article beyond the recent seed financing.

  • Bifrost AI

    Participated · Series A · Oct 2024

    Bifrost builds a 3D data generation platform that creates simulated 3D worlds to train computer vision and robotics perception models, enabling teams to adapt models to new objects, tasks and surroundings faster. The platform is designed so AI engineers can generate training data without a dedicated 3D team, positioning it as an alternative to tools that require specialized 3D operators. Bifrost is currently in closed beta with select heavy-industry partners and plans a public launch in the coming months while hiring to speed product development. Its primary users are AI developers focused on robotics, computer vision and perception across sectors including robotics, aerospace, defense, maritime, geospatial and industrial automation; target customers include large industrial companies, government organizations and growth-to-late-stage startups. The company sells its platform via an annual subscription model and has 22 staff across the U.S. and Singapore. Founders Charles Wong and Aravind Kandiah started Bifrost in 2020; Wong previously worked on perception at Nutonomy and Kandiah built a medical AI system for detecting diabetic retinopathy.

  • Hefring Marine

    Participated · Equity · May 2024

    Hefring Marine builds a hardware-enabled Software-as-a-Service platform that uses Machine Learning and IoT to give vessel operators decision-making support and monitoring insights for safety, fuel efficiency, and maintenance planning. The company serves multiple maritime segments including search and rescue, defence, crew transfer, fishing, piloting, and tourism and leisure. Its team combines software, mechanical and electrical engineering, condition and vibration monitoring, Machine Learning and AI, plus boat building, business development and product teams. Hefring positions itself to enable an intelligent future fleet capable of safer, more efficient, and more autonomous operations. The startup plans geographic expansion, including opening an office in Portugal, funded in part by a recent investment. The new funding will also support expansion into other markets and further development of its IMAS System.

Team

No current team members are available.