The UK ranks 4th in the Global Innovation Index as a centre for research, but is currently rated only 24th for commercialisation of this research [1]. Until now, vast amounts of innovation have remained stagnant within research labs.
Cambridge Future Tech’s unique hands-on approach bridges the gap from lab to market, spinning out cutting-edge tech from universities and corporate research groups to create market-leading ventures. By leveraging their commercial expertise and extensive network, Cambridge Future Tech co-founds ventures with technical and commercial founders; guiding them from pre-incorporation to pre-seed with the tools they need to succeed.
Owen Thompson, CEO and co-founder of Cambridge Future Tech, said:
“This investment is testament to the huge and growing significance of DeepTech startups for the national industrial strategy, supporting the UK's ambition to bridge the critical gap between scientific discovery and market-ready innovation as a science and technology superpower.
“Cambridge Future Tech is poised to continue expansion with our corporate and academic partners, with the long-term stability needed to begin the creation of a sister VC arm, further strengthening our venture building capabilities.”
Rapidly Scaling
The $5m funding will bolster CFT’s venture building activities, driving the next wave of DeepTech innovation for real global impact. Working with leading universities and tech transfer offices, CFT will co-found eight new companies in 2024 - ahead of target to co-found a further 40 DeepTech ventures within five years.
CFT will build an additional eight ventures each year with their corporate partners. Recent work has included industry giants AngloAmerican plc, and a partnership with CERN; the home of the Large Hadron Collider.
Since its launch in 2022, CFT has co-created 10 DeepTech ventures across the UK with several more currently in the build phase; generating over 80 highly skilled jobs and raising over $10 million in external funding. These ventures have been awarded over $4.5 million in grants, supporting vital research and development efforts. With an aggregate valuation surpassing $50 million at pre-seed, CFT has successfully guided six ventures through their pre-seed rounds in the past year.
CFT's innovative approach makes the route to market a reality; rapidly scaling, along with their ventures, to positively shape and evolve industries.
Colin Hillier, CEO, Mission Decisions - a Cambridge Future Tech Portfolio Company said:
"The team at CFT is impressive. Not only do they bring their own experience and considerable domain knowledge of the startup world to our challenges, they also do it with unbridled enthusiasm and positivity. Because they've lived the journey, they are uniquely placed to support startups to grow and thrive."
Dr Ghina M. Halabi, Programme Lead at Cambridge Judge Business School Entrepreneurship Centre, said:
“Cambridge Future Tech's latest successful round is a powerful endorsement of their bold vision and steadfast commitment to DeepTech innovation. By fostering a diverse and inclusive entrepreneurial ecosystem, especially supporting women founders, they are not only driving cutting-edge advancements but also ensuring that the brightest minds are empowered to solve the tough problems facing our world today.”
Recently, CFT expanded its board by welcoming Michael Beer and Jem Davies. Michael has held various senior finance positions in Silicon Valley, raising $1bn in startup funding between his last two companies, including FreeWire Technologies. Jem Davies’ career spanned 18 years at Arm, where he held various leadership positions including founding GM of the Machine Learning division.
CFT’s key ventures include:
Literal Labs, Mimicrete, Autopickr, NeuroXR, CamAI, Mission Decisions, SAIF, and GitLife Biotech
Literal Labs (formerly Mignon): Spun out of the lab of world-leading researchers from Newcastle University and led by former executives at Arm, it pioneers energy-efficient AI with systems up to 10,000 times more energy-efficient than current neural networks, significantly reducing the carbon footprint of AI operations.
Mission Decisions: A data intelligence company leveraging AI, machine learning and collaborative data environments to unlock true potential in Defence.
AutoPickr: Cambridge-based advanced robotics platform with multiple use cases across agriculture. Now with over $2m in grant funding, commercial traction and field trials with asparagus farmers, moving into the cut flowers and vineyard markets.
Cambridge Future Tech’s groundbreaking approach to venture-building, combined with its unwavering commitment to sustainability and diversity, positions it as a frontrunner in the DeepTech landscape. This latest funding round will propel CFT’s efforts to unlock the UK’s tech potential, fostering innovation that promises to shape industries and positively advance society.
For more information, please visit cambridgefuturetech.com.
