Northern Gritstone
Nexus Discovery Way, Leeds, LS2 3AA, United Kingdom
Overview
Northern Gritstone is an investment firm focused on investing in advanced materials, energy, health technology and cognitive computation.
- Total investments
- 35
- Lead investments
- 21
- Investments · 12mo
- 10
- Active investors
- 1
Sector focus
- Financial Services
- Funding Platform
- Venture Capital
Investment portfolio
- Cytix
Led · Series A · Aug 2026
Cytix offers a change risk management platform that continuously monitors software changes, analyses the security and business risks those changes introduce, determines appropriate security responses, and validates that risks have been addressed. The platform generates evidence of how individual changes were handled to support regulatory and compliance requirements. Cytix positions itself between customers’ software development lifecycles and their risk, security and compliance functions to give security teams visibility into what changed and the associated business risk. The company aims to serve enterprise customers and organisations in regulated industries and delivers its platform directly or through managed-service partnerships with NCC Group and KPMG. Cytix raised $7 million in a Series A led by Northern Gritstone with participation from Auriga Cyber Ventures and NPIF II – PXN Equity Finance to scale product rollout and expand adoption in target markets. The company cites increasing AI-assisted development and continuous delivery as drivers of elevated change-related security risk, referencing research that 62% of security leaders see risk shifting to an immediate issue and 38% strongly agree their organisations are prepared for AI-generated code.
- Pixel-Flo
Led · Seed · Jul 2026
Pixel-Flo is commercialising semiconductor photonics and display-industry research from the University of Sheffield to develop manufacturing technology for MicroLED displays. Its core process, called Continuous-Flow Mass Transfer, is based on fluidic self-assembly and is intended to enable higher-throughput production while reducing processing costs and material use. The company aims to address key manufacturing barriers that have limited broader adoption of MicroLED technology, which offers advantages in brightness and energy efficiency. Pixel-Flo plans industrial scale-up, team expansion, new lab and office facilities, and international growth following its seed raise. The company was founded by Dr Rick Smith, Dr Suneal Ghataora and Simon Jones and secured £5.25M in seed funding to support these plans.
- Silveray
Participated · Equity · Jun 2026
Silveray designs and manufactures flexible, ultra-thin X-ray film intended to make imaging sharper, less rigid and more comfortable. Its technology is used in industrial radiography—such as testing pipe integrity in oil and gas and detecting faults in aerospace and automotive components. The company is expanding into healthcare, targeting uses including more accessible, portable and affordable X-ray scans, breast cancer screening, radiotherapy and dental imaging. Silveray plans to scale up production and commercial relationships supported by the £5m raise. The firm intends to grow its team by 50% over the next two years to support this expansion.
- Imperagen
Participated · Seed · May 2026
Imperagen develops a platform that combines quantum physics-based simulation, bespoke AI models, and robotics-driven experimental automation to predict and optimize enzyme variants. The company’s approach uses physics simulations to explore millions of mutations in silico, translates those results into AI models trained on specific enzyme problems, and closes the loop with automated experiments that generate data to refine the models. Founded in 2021 and spun out of the Manchester Institute of Biotechnology, Imperagen recently appointed Guy Levy-Yurista as CEO to scale its AI strategy and commercial partnerships. Financially, the startup has raised £8.5 million to date, including a £5 million seed round announced in this financing. Imperagen plans to deploy the fresh capital to hire AI talent, expand R&D and lab capabilities, and build a go-to-market team over the next two years. The company positions its technology as a way to make enzyme development faster, more reliable, and more commercially accessible for industries such as pharmaceuticals, food, biofuels, and agriculture.
- Iceotope
Participated · Series B · May 2026
Founded in 2005, Iceotope develops chassis-based precision liquid cooling systems that replace traditional air cooling to improve efficiency and reduce energy and water usage in data centres, AI infrastructure, HPC, and edge environments. Its technology is purpose-built for demanding cooling constraints across core data centers and distributed edge deployments. The company holds more than 200 granted and pending patents covering its liquid cooling approach. Iceotope plans to scale product and engineering efforts, expand its patent portfolio, and grow ecosystem partnerships following its recent fundraise. Financially, the company secured a $26 million Series B to support these initiatives; the article does not disclose revenue or other operating metrics.
Team
Duncan Johnson
Chief Executive Officer
LinkedIn