• Tue. Apr 23rd, 2024

Revolutionizing Deep Science Ventures: Empirical Ventures Secures £8.25m for S/EIS Fund to Support Early-Stage Startups

BySamantha Nguyen

Apr 4, 2024
Empirical Ventures Secures £8.25M Funding for Deep Science

Empirical Ventures, founded by Bristol spinout Ziylo alumni, has secured £8.25m in funding for its deep science fund, S/EIS. The ultimate goal is to reach £10M in funding to provide more support to early-stage deep science startups. The products supported by Empirical range from brain implants to robotic crop harvesters to vaccine temperature management.

The firm aims to elevate the UK’s deeptech landscape by leading due diligence on potential investments in deep science, thereby reducing risk for their investors and co-investors. The British Business Investments Regional Angels Programme awarded £5M to the fund, with the remaining £3.25M coming from other investors. Co-founders and experienced investors Dr. Jonathan Matlock and Dr. Ben Miles have a history of scaling and investing in deep science in the UK. They initially met at Ziylo, where they were part of the core scientific team before it was acquired by Novo Nordisk in a deal worth over $800 million in 2016.

Dr. Johnathan Matlock expressed excitement about the raise, emphasizing the importance of supporting innovative startups that address future challenges such as climate change and healthcare accessibility. Dr. Ben Miles highlighted the focus on new technologies driven by fundamental research and the role of Empirical Ventures in validating and funding novel technologies from the early stages to help founders navigate their journeys towards success.

Empirical Ventures’ deep science criteria cover various fields such as life sciences, advanced materials, photonics and quantum hardware, robotics and automation, agchem/tech, and deeptech. The firm aims to invest in companies that have a strong foundation in these areas but may need additional support to scale up their operations or bring their products to market.

With this new funding round, Empirical Ventures can continue its mission of identifying promising deep tech startups and providing them with the resources they need to succeed. By leading due diligence on potential investments, the firm helps reduce risk for its investors and co-investors while also ensuring that these companies receive the support they need to tackle some of society’s most pressing challenges.

Overall, Empirical Ventures’ S/EIS fund is an exciting development for UK’s growing deep tech scene. As more venture capitalists recognize the potential of these innovative technologies, it’s likely that we’ll see even more investment opportunities arise in this space moving forward.

In conclusion

By Samantha Nguyen

As a content writer at newsqwe.com, I am passionate about crafting engaging and informative articles that captivate our audience. With a background in journalism and a keen eye for detail, I strive to deliver content that is not only well-researched but also adds value to our readers' lives. From breaking news stories to in-depth features, I take pride in my ability to tell compelling stories that resonate with our diverse audience. When I'm not typing away at my keyboard, you can find me exploring new cafes, practicing yoga, or getting lost in a good book. I am thrilled to be a part of the newsqwe.com team and look forward to sharing my love for writing with all of our readers.

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