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Innovate UK

Government fund

London · Pre-Seed–Seed

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Investment thesis

Innovate UK is the UK's government-backed innovation agency operating under UK Research and Innovation. It supports innovative deep tech businesses in the UK's priority sectors, aiming to help companies grow and drive national economic and technological development.

Source: firm website, verified Aug 3, 2026.

Stage
Pre-Seed–Seed
HQ
London, GB
Instruments
Debt · Grants
Last 12 months
8 investments
Tracked investments
47
Acquisitions
1

Founder mafia

2 people who came through Innovate UK went on to found or lead other companies.

What they invest in

from 45 of 47 portfolio companies

AI & Machine Learning ×19Cleantech ×11Biotech ×10Deep Tech ×10Healthtech ×10SaaS ×10New Materials ×9Digital Health ×8

HQs:United Kingdom×27Colombia×1Italy×1Kenya×1Tanzania×1United States×1

Investments · 47 tracked

founders shown can be your intro path

By year:2026 · 72025 · 12024 · 32023 · 22022 · 12020 · 22016 · 117 dated

Aflo Analyticsafloanalytics.comin𝕏✓ verified

Aflo develops a smart inhaler device that teaches patients correct inhalation technique and monitors their usage patterns alongside air quality data to support respiratory condition management.

AI & Machine LearningDigital HealthHealthtechMedical DevicesBelfast, GB

Dr Susan Kelly(CEO and Co-founder)Prof Liam McDaid(R&D Head and Co-founder)

Co-investorsQUBISAngel AcademeClarendon Fund Managers Ltd.

Albothermalbotherm.comin✓ verified

Albotherm develops a heat-activated coating for adaptive glazing that changes transparency in response to temperature, validated in commercial greenhouse trials and in development for the built environment, energy, and mobility surfaces.

AgTechCleantechClimate TechDeep TechNew MaterialsBristol, GB

Siân Fussell(Co-founder & CTO)inMolly(Co-founder & CEO)

Co-investorsCambridge Angels groupOxford Investment Opportunity Network (OION)Sustainable VenturesBristol Private Equity ClubGreen Angel VenturesSeedrs

Cellularagriculture.Cocellularagriculture.co.ukin✓ verified

Cellular Agriculture Ltd develops hollow fibre bioreactor technology for sustainable, scalable cell culture across cultivated food, biopharmaceuticals, cosmetics, and animal health applications.

BiotechDeep TechFoodTechCorsham, GB

Illtud Dunsford(Founder)Prof. Marianne Ellis(Co-founder & CTO)

Co-investorsAgFunder

Emteq Labsemteqlabs.comin𝕏✓ verified

Emteq Labs develops wearable technology that monitors and translates facial expressions to measure emotional and behavioral responses in real-world settings.

AI & Machine LearningDigital HealthHardwareHealthtechBrighton, GB

Dr Charles Nduka(Chief Science Officer (CSO) and founder)

Co-investorsNCL Technology Ventures Ltd.

Fieldwork Roboticsfieldworkrobotics.comin✓ verified

Fieldwork Robotics develops autonomous robotic systems for harvesting raspberries at commercial farms, addressing labor shortages and rising costs for berry growers worldwide.

AgTechAI & Machine LearningHardwareRoboticsCambridge, GB

David Fulton(CEO)in

Co-investorsElbow Beach CapitalAugust One

Figura Analyticsfigura-analytics.co.uk✓ verified

Figura Analytics develops platform technology for the characterisation of nanomaterials, biomarkers, pharmaceuticals, and environmental pollutants.

AI & Machine LearningBiotechDeep TechNew MaterialsUK, GB

Dr Mark Platt(Co-founder)in

Co-investorsSFC CapitalOxford Investment Opportunity Network (OION)

Holly Healthhollyhealth.ioin𝕏Dec 2023✓ verified

Holly Health develops a mobile app combining psychological principles with behavioral coaching to help users achieve lasting changes in physical and mental health.

Digital HealthHealthtechMental HealthSaaSWellness & Fitness

Grace Gimson(Founder and CEO)in

Co-investorsVery Serious VenturesKima VenturesNorthInvestPlug and Play Ventures

Hublsofthublsoft.comin𝕏✓ verified

Hublsoft provides decision intelligence software that combines business data and AI-driven insights to help technology service providers optimize profitability and growth.

AI & Machine LearningEnterprise SoftwareSaaS

Nick Cowlenin

Co-investorsMaven Capital PartnersNorthEdge

Hypetexhypetex.comin𝕏✓ verified

Hypetex develops FlaxTex, a coloured natural flax fibre technology that serves as a sustainable, biodegradable alternative to carbon and glass fibre for manufacturing applications.

Advanced ManufacturingCircular EconomyCleantechDeep TechNew MaterialsLondon, GB

Marc Cohen(CEO)in

Co-investors24 HaymarketOxford Investment Opportunity Network (OION)

iFASTifastdiagnostics.comin✓ verified

iFAST Diagnostics develops rapid antimicrobial susceptibility testing (AST) technology that delivers susceptibility test results in under 3 hours, significantly faster than the standard 40-hour process.

BiotechHealthtechMedical DevicesWhiteley, GB

Toby King(CEO)in

Co-investorsMeridian Health VenturesCambridge Capital GroupRaw VenturesFuture Planet CapitalUK Innovation & Science Seed Fund

MatAlyticsmatalytics.comin✓ verified

MatAlytics develops real-time AI software that provides physically-based information to power operators for operational decision-making.

AI & Machine LearningDeep TechEnergyEnterprise SoftwareNottingham, GB

Co-investorsMomenta Ventures

Matohamatoha.com✓ verified

Matoha develops infrared sensor and AI-based devices that identify the composition of textiles, plastics, and flooring materials.

AI & Machine LearningHardwareNew Materials

Martin Holicky(Founder)inJames Kung(Founder)in

Co-investorsBritish Design FundConduit Connect

Milbotixmilbotix.comin✓ verified

Milbotix develops technology to help people with dementia and other conditions that impair communication of distress.

AI & Machine LearningDigital HealthHardwareHealthtechIoTMedical DevicesBristol, GB

Dr Zeke Steer(Founder)

BoardJohn Major(Non-Executive Director)

Co-investorsBritish Design FundTwo Magnolias

Minimassminimass.netin✓ verified

minimass™ is a patented family of prefabricated concrete structural elements (beams, frames and slabs) that combines 3D concrete printing with post-tensioned steel to cut material use, cost and embodied carbon versus conventional concrete or steel structures.

CleantechClimate TechConstruction Tech

Andy Coward(Founder & CEO)inSarah Blake(Commercial Director & Co-founder)in

Co-investorsSustainable Ventures

Naturbeadsnaturbeads.comin𝕏✓ verified

Naturbeads develops biodegradable cellulose microspheres to replace microplastics in consumer products such as cosmetics and paints.

Circular EconomyCleantechNew MaterialsItaly, IT

Janet Scott(Co-founder)Davide Mattia(Co-founder)inGiovanna Laudisio(Co-founder)in

Co-investorsCDP Venture CapitalEos AdvisoryRegeneration.VC

Neurolieve Biosciencesneurolievebiosciences.comin✓ verified

Neurolieve is a life-science company developing therapeutics for neuropathic and chronic pain, with expertise in neuroscience, clinical pain medicine and drug development.

BiotechDeep TechHealthtechMedical Devices

Co-investorsNLC

Peripearperi-pear.com✓ verified

Peripear is developing a wearable medical device that applies gentle warmth to the perineum during vaginal birth to reduce the risk of tearing, pain and episiotomy.

FemTechHardwareMedical Devices

Nina van Schaick(Midwife and Co-founder)inEviatar Natan(Co-Founder and CEO)in

Co-investorsSie VenturesHERmesaSyndicateRoom

Ruaha Energyruahaenergy.comAug 2016✓ verified

Ruaha Energy delivers village-scale renewable energy infrastructure and digital financial services to underserved communities in rural Tanzania, enabling small business growth and improved living standards.

CleantechEnergyImpact & Social GoodDar Es Salaam, TZ

Salim Zagar(Director)Antony Butler(Director)Pete Hemingway(Executive Officer, Director)Karl Obergh(Executive Officer)Mike Bess(Director)Ken Pratt(Executive Officer)

Synnefasynnefa.ioin𝕏✓ verified

Synnefa is a B2B and B2B2C agritech company that combines physical infrastructure and digital tools to raise incomes for smallholder farmers, selling integrated farming systems to cooperatives, agribusinesses, NGOs, and government institutions.

AgTechHardwareImpact & Social GoodIoTNairobi, KE

Co-investors54 CollectiveLivelihood ImpactMulago FoundationFounders Factory AfricaP4G

Versedversed.aiin𝕏✓ verified

Versed AI provides supply chain analytics and visualization software that maps multi-tier supplier networks, enabling companies to gain visibility across their entire supply chain infrastructure and integrate these insights into their existing technology systems.

AI & Machine LearningData & InfrastructureEnterprise SoftwareLogistics & Supply ChainSaaS

Simon Baker(Research Associate)inPascal Wichmann(PhD student)in

Co-investorsFounders FactoryUniversity of Cambridge EnterpriseY CombinatorWorking Capital FundCherry VenturesGradient Ventures

Waylandadditivewaylandadditive.comin✓ verified

Wayland Additive develops electron beam additive manufacturing technology for metal production, leveraging decades of expertise from the semiconductor industry.

Advanced ManufacturingDeep TechHardwareNew Materials

Will Richardsonin

Co-investorsLongwall Venture Partners LLP

AMFGamfg.aiin𝕏

AMFG builds quoting, order intake, and production software for high-mix, low-volume manufacturing, used by machine shops to generate quotes faster and manage their shop floors.

Advanced ManufacturingAI & Machine LearningEnterprise SoftwareSaaS

Keyvan Karimi(Founder)in

Co-investors2050 CapitalD&FG ElementsInnvotec Ltd.Intel Capital

Biabia.appin𝕏Aug 2020

Bia is a technology-driven electricity retailer in Colombia that lets businesses switch their energy provider and replace traditional meters with its proprietary BiaMonitor smart meter.

CleantechEnergyIoTBogota, CO

Sebastian Ruales(Founder)inGuillermo Plaza Roche(Director)Leonardo Velazquez Florez(Director)Juan Sebastian Ruales Duque(Director)Jaime E. Zunzunegui(Director)in

BoardNicolas Berman(Director)in

Co-investorsRA CapitalBBVA SPARKIDB LabKaszek VenturesMarathon VenturesNazca+4 more

Bia Analyticalbia-analytical.comin𝕏Aug 2020

Bia Analytical combines spectroscopy, chemometrics, and cloud technology to analyze scientific data and verify the authenticity of commodities such as herbs and spices across the supply chain.

AgTechAI & Machine LearningData & InfrastructureDeep TechFoodTechBelfast, GB

Chris Elliott

Co-investorsClarendon Fund Managers Ltd.QUBIS

Black Bull Biocharblackbullbiochar.cominDec 2025

Black Bull Biochar develops a platform to enable carbon removal at scale through biochar production.

AgTechCircular EconomyCleantechClimate Tech

Co-investorsTSP VenturesOld College Capital

Butterfly Airbutterfly-air.comin

Butterfly Air makes indoor air quality (IAQ) monitoring devices — including the Morpho, Antenna, Sapho sensors and Chrysalis hub — that display air quality through colour-changing "gloWING" interfaces and a companion app with AI-driven personalised tips.

CleantechHardwareIoTChester, GB

Co-investorsDeepbridge Capital

Claimerclaimer.comSeed · Sep 2022 · $4M

Claimer provides an AI-driven software platform that helps UK R&D tax advisors and accountancy firms assess claim eligibility, draft HMRC-compliant technical narratives, gather R&D financials, and submit Additional Information Forms.

AI & Machine LearningFintechSaaS

Co-investorsMoonfire VenturesProject A VenturesTrueSight Ventures

Dia Beta Labsdiabetalabs.cominDec 2024

Dia Beta Labs is a drug discovery and development company focused on diabetes and obesity research.

BiotechDigital HealthHealthtechLongevityMedical DevicesBelfast, GB

Dr. Ryan Lafferty(Founder, CEO)Prof. Peter Simpson(Executive Chair, Co-Founder)Prof. Nigel Irwin(Academic Director, Co-Founder)Prof. Peter Flatt(Scientific Committee, Co-Founder)Prof. Finbarr O'Harte(Scientific Committee, Co-Founder)Prof. Victor Gault(Scientific Committee, Co-Founder)

Co-investorsDSW VenturesQUBISClarendon Fund Managers Ltd.Innovation UlsterInvest Northern Ireland

Dragonflydragonfly.xyzin𝕏Aug 2026

Dragonfly is a crypto-focused investment firm comprising Dragonfly Ventures, Dragonfly Liquid, and Metastable (an acquired crypto hedge fund), which invests in blockchain and digital asset companies.

Crypto & Web3

Co-investorsMetastableMirana VenturesDreamcraftPortfolio Ventures

Elasmogenelasmogen.comJan 2026

soloMER anti-inflammatory drug designed to be delivered to specific sites in the body.

Aberdeen, GB

Professor Caroline Barelle MBA(Founder & Chief Executive Officer)Professor Andy Porter FRSB, FRSE(Co-founder & Chief Technical Officer)Dr Obinna Ubah(Founding member; Autoimmunity/Immunology Lead)

Co-investorsDeepbridge CapitalScottish National Investment BankScottish EnterpriseScottish Investment Bank

eTEUeteu.co.ukin𝕏

eTEU provides software and digital services for international supply chain and logistics operations.

Enterprise SoftwareLogistics & Supply ChainMobility & TransportationSaaSLondon, GB

Eduard Oboimov(CEO)inKristian Volohhonski(COO)inMarkkus Millend(CTO)inValentyne Kutateladze(CBDO)inMykhaylo Lepekha(Head of Sales)in

Co-investorsJenson VenturesTechstars

Gnosis Healthgnosishealth.aiJun 2026

Gnosis Health builds longitudinal clinical intelligence tools that provide continuous, individualised care between medical appointments, focused on chronic disease management.

AI & Machine LearningDigital HealthHealthtechNewcastle upon Tyne, GB

Co-investorsNorthstar VenturesSFC Capital

Kuboskubos.cominAug 2023 · $2.1Macquired by Xplore

Xplore operates a low Earth orbit satellite constellation that delivers remote sensing data, edge computing capabilities, and satellite operations software.

Data & InfrastructureIoTSaaSSpace TechDenton, US

Marshall Kulpepper(Executive Officer, Director)Dave Sims(Executive Officer)Tyler Browder(Executive Officer)Jesse Hamner(Executive Officer)

Co-investorsBatshit Crazy VenturesAutochrome VenturesDevelopment Bank of WalesDraper AssociatesDraper DragonGGV Capital+1 more

Mesenbiomesenbio.netin

Mesenbio develops extracellular vesicle (EV) therapeutics derived from mesenchymal stem cells, using its FT-01 platform to enable scalable, GMP-ready EV manufacturing for regenerative medicine.

BiotechHealthtechLongevity

Dr. David Kuntin(Chief Executive Officer)Prof. Paul Genever(Chief Scientific Officer)inAnita Adams(Finance Director)in

BoardDr. David Simpson(Chair)Jason Goldstein(Director)

Co-investorsDSW Ventures

MGB Biopharmamgb-biopharma.comin𝕏

MGB Biopharma is a biopharmaceutical company focused on drug development, with expertise spanning clinical practice, medical science, and the transition from preclinical to clinical development for biologics and small molecules.

Biotech

Dr Miroslav Ravic(Chief Executive Officer, Chief Science Officer & Chief Medical Officer)Raymond Spencer(Chief Financial Officer)Chris Wardhaugh(Chief Business Officer)

Co-investorsArchangel

Mocean Energymocean.energyin

Mocean develops offshore renewable power systems that combine wave, solar, and energy storage to deliver clean electricity for subsea assets, serving operators in offshore energy and carbon capture and storage (CCS) sectors.

CleantechClimate TechEnergyEdinburgh

James Cameron McNatt(Director)Andrew Coleman(Director)

BoardChristopher Heinz Retzler(Director)Torger Skillingstad(Director)Iain Sinclair(Director)Lynne Ross(Director)

Co-investorsEquity GapOld College CapitalScottish Investment Bank

Neuronosticsneuronostics.comin𝕏Jul 2026

Neuronostics develops BioEP, software that applies digital analysis of background EEG to generate biomarkers supporting epilepsy diagnosis for clinicians and neurology services.

AI & Machine LearningDigital HealthMedical Devices

John Terry(Founder)in

Co-investorsNew Wave VenturesThe FSE GroupAscension VenturesBritish Business BankEmpirical Ventures

Oceaniumoceanium.worldin𝕏Oct 2024

Oceanium develops proprietary seaweed-based ingredients for food, health, and materials using innovative biorefinery and green chemistry processes.

BiotechCircular EconomyClimate TechFoodTechNew Materials

Karen Scofield Seal(Founder)inDr. Charlie Bavington(Founder)

Co-investorsGreen Angel VenturesRegeneration.VC

Phastphast-tech.cominJul 2026

Phast produces PHA (polyhydroxyalkanoate) materials through natural fermentation that are bio-based, biodegradable, and break down without leaving microplastics, targeting high-value applications in dental and personal care products.

Circular EconomyCleantechNew Materials

Andrea Mele(Founder)in

Co-investorsCambridge Angels group

Plantseaplantsea.co.ukinFeb 2026

PlantSea develops seaweed-based packaging materials as an alternative to single-use plastics.

Circular EconomyCleantechClimate TechNew Materials

Rhiannon Rees(Co-Founder & CEO)inAlex Newness(Co-Founder & COO)

Co-investorsSustainable VenturesSFC CapitalAngels Invest Wales

Polyboxpolybox.appinJul 2026

PolyBox is an AI-assisted marketing reporting platform that connects to over 700 data sources (including Google Ads, Meta Ads, Google Analytics, and HubSpot) to automatically generate interactive reports with pre-built KPIs, forecasts, and performance summaries.

AI & Machine LearningMarketing TechSaaSNewcastle, GB

Rojin Yar(Founder)in

Co-investorsNorthstar Ventures

ReactWisereactwise.comin𝕏Sep 2024 · $3.4M

ReactWise develops AI tools for chemistry and chemical engineering, enabling researchers and engineers to accelerate molecular discovery and reaction optimization.

AI & Machine LearningBiotechDeep TechDeveloper ToolsEnterprise SoftwareLondon, GB

Alexander Pomberger(Founder)inDaniel Wigh(Founder)in

Co-investorsY Combinator

Signapsesignapse.aiin

Signapse builds AI sign language translation software that generates photo-realistic British Sign Language (BSL) and American Sign Language (ASL) video from text, including real-time train announcements and post-production video content.

AI & Machine LearningImpact & Social GoodSaaSGuildford, GB

Ben Saunders(Founder)in

Co-investorsSoulmates VenturesThe FSE GroupDeeptech Seed FundEmpirical Ventures

Srotassrotas.healthin𝕏

Srotas Health develops an AI platform to match patients with suitable clinical trials and help trial sites and sponsors manage recruitment.

AI & Machine LearningDigital HealthHealthtechUK, GB

Vikram Parimi(Founder)inSuman Bhaskaran(Founder)in

Co-investorsClarendon Fund Managers Ltd.SFC Capital

Traitseqtraitseq.comin

TraitSeq provides a computational platform that integrates omics data, machine learning, and AI to help agricultural R&D teams translate field performance variations into mechanistic insights, accelerating the development of biological products.

AgTechAI & Machine LearningBiotechNorwich, GB

Felicity Knowles(Founder)in

Co-investorsDeeptech Seed Fund

Vector Homesvectorhomes.co.uk

Manchester-based cleantech company building low-carbon modular homes from recycled materials enhanced with graphene and nanomaterials.

Co-investorsGC Angels

Voxshellvoxshell.comin𝕏

Voxshell develops meshing software for computer-aided engineering (CAE) and computational fluid dynamics (CFD), using a new algorithm to speed up 3D data pre-processing.

Advanced ManufacturingDeep TechDeveloper ToolsSaaS

Co-investorsDSW Ventures

Exits · 1

1 acquisitions

Kubosacq. by Xplore

Portfolio news

latest coverage across their companies

Frequently asked questions

How many investments has Innovate UK made?
Innovate UK has 47 tracked investments, 1 of which have exited, including 10 dated in the last 24 months.
What stage does Innovate UK invest at?
Innovate UK invests at the Pre-Seed, Seed stages.
What sectors does Innovate UK focus on?
Innovate UK focuses on Advanced Manufacturing, Climate Tech, Deep Tech, Energy.
Where is Innovate UK located?
Innovate UK is headquartered in London, GB.

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