The Venture Codex

Participated · Seed · Nov 2024

Laennec AI develops a mobile platform that transforms smartphones into AI-driven digital stethoscopes to detect, prevent, and manage asthma exacerbations at home. Founded in 2022 by Dr. Jase John and Dr. Arathy Varghese, the company embeds advanced algorithms into a user-friendly app to enable remote monitoring and clinician oversight. Its product supports virtual consultations, continuous remote monitoring, and guided self-care aimed at reducing emergency hospital visits and improving chronic disease outcomes. Laennec positions its technology to improve access in underserved areas and reduce healthcare inequalities by making diagnostic tools more affordable and portable. The company has begun commercial and development activities backed by a recent funding round and grant support to accelerate device development and scale deployment. It is actively engaging healthcare providers, clinicians, and research institutions for partnerships to advance remote monitoring and patient-led care.

Led · Grant · Dec 2018

Transcend Packaging produces environmental packaging solutions for the foodservice and beverage sectors, including paper straws used by McDonald’s and a recently developed premium polyethylene-free cup. The company was launched in 2017 and is headquartered in Ystrad Mynach, employing 290 people across three locations. Its product roadmap emphasizes R&D and production innovation supported by intellectual property. Transcend serves blue-chip customers and has positioned itself as a disruptive player in sustainable packaging. Management says the business will use new capital to accelerate innovation, expand R&D capabilities and scale operations in the Cardiff Capital Region. Transcend Packaging produces fully compostable, paper and fibre-based alternatives to plastic using digital printing techniques and speciality paper coatings. Over the past two years it has established itself as Europe’s leading producer of paper straws and recently launched a home-compostable, CE-certified face visor and PPE. The company counts McDonald’s as a client and pivoted during the COVID-19 crisis to supply millions of visors to NHS Wales, elderly care centres, schools and private industry. Transcend began production at its plant in South Wales and was founded in late 2017; it now employs over 150 people. Its mission is to eliminate single-use plastics and to capture demand created by UK and EU bans on single-use plastic items. Financially, Transcend completed a combined £10 million equity and debt investment to support growth and expand its sustainable product range. Transcend Packaging develops environmentally sustainable packaging products — most notably paper straws — for food & drink, hospitality, confectionery and health & beauty customers. The company was formed by Lorenzo Angelucci with LLEX Partners (Justin Bailes and Gabriel Fysh) and built a team of around 20 people. Transcend pursues a strategy of higher‑end, speciality and eco‑focused products, targeting shorter run sizes and customers underserved by larger converters. Its profile rose after being selected as one of two suppliers of paper straws to McDonald’s UK and Ireland, and it plans to begin in‑country straw production in the coming months. The business reports a clear sales pipeline of over £800k and aims to expand its range of sustainable packaging beyond straws. Transcend also says it will create jobs in Ystrad Mynach as it scales production.

Participated · Grant · Apr 2011

Delyn Packaging Ltd is a South Wales-based food packaging manufacturer that supplies an extensive range of recyclable rPET food packaging to an increasing number of UK-based food manufacturers and retailers. The company is led by Managing Director Mike Keenor. It received a £295k third-round investment from Finance Wales and a £275k grant from the Welsh Assembly Government. Delyn intends to use the funds to grow through acquisition, purchase new capital and office equipment, and recruit additional staff. The investment has already enabled the company to relocate to new 53,000 square-feet manufacturing facilities at Ystrad Mynach.

Led · Series A · Nov 2010

SenseLogix develops energy measurement and control products and an enterprise energy-management platform that includes metering solutions, M&T software, energy and carbon reporting tools and energy dashboards to drive behavioural change. Its control system targets electrical waste from IT systems and other small power items across commercial, education and public-sector customers. Customers named in the article include Gwynedd Council, Wolseley UK, University of Derby, Tallent Automotive and Helix Property Management. The company was established in 2009 and is led by CEO Jonathan Luke. SenseLogix currently employs 10 staff and plans to expand its team to over 45 by 2015. It intends to use new capital to accelerate commercialization of its technology and establish a new head office in Cheshire. SenseLogix provides hardware and software solutions to measure and manage electricity in commercial businesses, the public sector, education and other office-based environments to eliminate electrical waste. Its core products combine metering hardware with software to identify and reduce unnecessary energy consumption. The company says the new capital will help accelerate growth and support new technology developments. SenseLogix plans to create more than 12 new jobs over the next 12 months. It raised £1m in a Series A financing round backed by Beringea (via its ProVen VCT and ProVen Growth & Income VCT) and North Star Equity Investment Partners acting on behalf of the Finance for Business North East Accelerator Fund. The Welsh Assembly Government also supported the company, and Stuart Veale of Beringea was appointed as a non-executive board member.

Participated · Equity · Aug 2010

Orthos develops proprietary orthobiologic products focused on skeletal defect repair and spinal fusion, and is bringing a mouldable βGel synthetic bone substitute to market. The βGel product is formulated for treating spinal bone defects, can be moulded by hand and is designed to minimise infection risks associated with bone implant surgery. The company also plans to enter the vertebral compression fracture market. Orthos was founded by Alan Rorke in 1998 and recently relocated to Wales from Bristol. Management has been strengthened with the appointment of Robert Welsh as Chief Executive and Professor Christina Doyle as a Non-Executive Director.