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The Venture Codex

UK Research and Innovation

Polaris House, North Star Avenue, Swindon, Wiltshire, SN2 1FL, United Kingdom

Overview

UKRI intends to be an outstanding organisation that ensures the UK maintains its world leading position in research and innovation.

Total investments
12
Lead investments
9
Investments · 12mo
1
Active investors
8
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Investment portfolio

  • OXCCU

    Led · Grant · Nov 2025

    Founded in 2021, OXCCU is developing proprietary catalysts and reactor designs that directly hydrogenate CO₂ to create hydrocarbon syncrude branded as OXFUEL, which can be refined into jet-fuel-grade SAF. Its single-step, iron-based Fischer-Tropsch process eliminates the RWGS stage and reduces hydrogen demand, promising lower capital and operating costs than competing e-fuel pathways. The company operates from Begbroke Science Park and London Oxford Airport, where its OX1 demonstration plant was validated in 2024. OXCCU is positioning OXFUEL to help the UK meet its target of 10% SAF in jet fuel by 2030 and is now researching how its fuel can limit non-CO₂ warming effects such as soot-induced contrail formation. Financially, the start-up secured €20.6 million of initial funding in June 2023, followed by a €23.7 million round in September 2025, and most recently obtained a €2 million grant from the ATI Non-CO₂ Programme. These funds support technology scale-up, commercial deployment and climate-impact validation, underscoring OXCCU’s emergence as a leading UK climate-tech innovator.

  • RoboK

    Led · Equity · Jan 2025

    RoboK develops computer-vision software that upgrades conventional CCTV into proactive tools for real-time hazard detection and operational insights at ports and warehouses. The company was spun out of the University of Cambridge and was founded by Hao Zheng in 2017. Its PALLETS project blends AI with existing surveillance to identify risks, optimise workflows, and build trust in automated solutions. Early results from partner sites such as the Port of Dover and Bristol Port have been described as very positive. RoboK aims to lower barriers to AI adoption in logistics by delivering ethical, reliable systems under the UKRI-backed programme. The PALLETS initiative runs through March 2025 and involves a consortium of industry and academic partners. RoboK develops proprietary, privacy-preserving computer vision software that unlocks value from existing industrial CCTV cameras to deliver actionable insights for safety, productivity and throughput. The company is focused on industrial infrastructure use cases—starting with ports—and works with large critical infrastructure operators. Its solution is positioned as cost-effective, configurable, and capable of providing robust AI insights at scale. RoboK plans to use new funding to accelerate commercial expansion, expand its presence in industrial sites including ports, and hire additional commercial and product roles. The company has also secured grants from InnovateUK and the Department for Transport to support its work. To date RoboK has raised a total of $4.0M.

  • TOPOLYTICS

    Led · Equity · Feb 2023

    Topolytics offers WasteMap, a data analytics platform that uses mapping and machine learning to trace waste movements, improve materials recovery, and make waste and resource management more transparent and efficient. Its WasteMap platform enables organizations to track waste, reduce carbon footprints, validate ESG and carbon reporting, and identify circular-economy revenue opportunities. The company also highlights WasteChain insights to support greater materials recovery and reduced emissions. Topolytics said it will use the new funds to launch its WasteMap solution more broadly and support UK and international expansion. The business was founded by Michael Groves and operates at the intersection of waste industry operations, circular-economy strategy, software engineering, and data science. In February 2023 the company secured fresh funding of £1.5M, alongside a grant from UK Research and Innovation, to support these plans.

  • onHand

    Led · Series A · Jan 2023

    onHand provides an employee volunteering and sustainability platform that connects employees with a network of charities and tracks CO2e reductions. The platform facilitates engagement across sustainability actions, poverty and homelessness support, befriending phone calls, simple tasks to support the elderly, youth mentoring and crisis support. Led by CEO Sanjay Lobo (MBE), onHand gives businesses real-time impact and social value data while helping increase employee purpose, wellbeing and talent retention. The company intends to use the £3.3M Pre-Series A to accelerate growth of its business development, technology and impact teams, expand abroad and fuel further product expansion. onHand is now available worldwide. onHand is an on-demand volunteering app that helps businesses engage employees by matching them with community activities. Led by CEO Sanjay Lobo and based in London, the service was set up in collaboration with the U.K.'s largest charities. The app connects employees with tasks such as food-waste and homelessness initiatives, befriending phone calls to tackle loneliness, shop drops to support older adults, youth mentoring in BAME communities, and eco clean-up missions. The company recently launched a partnership with Trainline. onHand raised £1m in funding to further invest in its technology, expand its reach across the U.K., and introduce additional volunteering opportunities for employees.

  • Mykor

    Participated · Grant · Oct 2022

    Founded in 2021, Mykor develops construction systems that convert agricultural and industrial waste into low-carbon building materials using engineered mycelium, green chemistry, and industrial manufacturing processes. The company positions itself as a technology and process platform that enables contractors and manufacturers to integrate biomaterials into existing production lines and construction systems rather than operating solely as a materials manufacturer. Its first commercial product, MykoSIP, is a prefabricated partition wall system designed to reduce embodied carbon while maintaining comparable thermal and acoustic performance to conventional alternatives. Mykor says its panels use significantly less water and electricity during production compared with polystyrene-based systems. The company reports active construction projects and large offtake agreements with contractors across the UK and Europe and plans to use new funding to scale production and expand into additional markets.

Team

  • Dame Ottoline Leyser

    CEO

  • George MacGinnis

    Healthy Ageing Challenge DirectorHealthy

    LinkedIn
  • Disa L.

    Assessor

    LinkedIn
  • Dario Canale

    Head of UKRI Creative Services (JRS)

    LinkedIn