• Sat. Apr 20th, 2024

Empirical Ventures Secures £8.25m for Deep Science Fund, Setting Sights on Supporting Early-Stage Innovations

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 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 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 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 firm is committed to providing resources and support to early-stage startups that are working on groundbreaking technologies that have the potential to make a positive impact on society.

Dr. Jonathan Matlock stated that he believes that Empirical Ventures has an important role to play in shaping the future of technology by supporting innovative startups that are addressing some of our most pressing challenges.

Dr. Ben Miles added that he is excited about this new opportunity for Empirical Ventures to continue validating and funding novel technologies from their early stages through until they reach commercialization.

Overall, Empirical Ventures aims

By Samantha Jones

As a dedicated content writer at newszxcv.com, I bring a passion for storytelling and a keen eye for detail to every piece I create. With a background in journalism and a love for crafting engaging narratives, I strive to deliver informative and captivating content that resonates with our readers. Whether I'm covering breaking news or delving into in-depth features, my goal is to inform, entertain, and inspire through the power of words. Join me on this journey as we explore the ever-evolving world of news together.

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