• Sun. Apr 21st, 2024

Empirical Ventures Secures £8.25M for Deep Science Fund, Reaches Goal to Support Early-Stage Startups in UK’s Growing Deeptech Landscape

BySamantha Jones

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

Empirical Ventures, founded by alumni of Bristol spinout Ziylo, has secured £8.25m 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’s 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 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. 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 the University of Bristol spinout Ziylo in 2016, where they were part of the core scientific team.

Ziylo was later acquired by Novo Nordisk in a deal worth over $800 million, marking one of the largest acquisitions of a UK spinout company. 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 aims to lead due diligence on potential investments in deep science by conducting extensive analysis of each company’s business plan, financial projections, market potential, competitive landscape and legal considerations before making an investment decision.

The British Business Investments Regional Angels Programme awarded £5M to the fund

By Samantha Jones

As a content writer at newsnnk.com, I weave words into captivating stories that inform and engage our readers. With a passion for storytelling and an eye for detail, I strive to deliver high-quality and engaging content that resonates with our audience. From breaking news to thought-provoking features, I am dedicated to providing informative and compelling articles that keep our readers informed and entertained. Join me on this journey as we explore the world through the power of words.

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