Empirical Ventures Secures £8.25M Funding for Deep Science

Rising to the Challenge: Empirical Ventures and their Quest to Support Deep Science Startups in the UK

In 2016, two alumni of Bristol spinout Ziylo founded Empirical Ventures with the goal of providing funding and support to early-stage deep science startups. The firm has secured £8.25m in funding for its S/EIS fund, with the ultimate aim of reaching £10M to help founders navigate their journeys towards success. The products supported by Empirical range from brain implants to robotic crop harvesters to vaccine temperature management, and 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.

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 British Business Investments Regional Angels Programme awarded £5M to the fund, with the remaining £3.25M coming from other investors. Co-founders 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 in 2016, where they were part of the core scientific team that was later acquired by Novo Nordisk in a deal worth over $800 million.

Dr. 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. 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.

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.

Empirical Ventures aims to provide more support to early-stage startups working on cutting-edge technologies through its S/EIS fund.

The British Business Investments Regional Angels Programme awarded £5M to the fund with an additional £3.25M coming from other investors.

Co-founders Dr Jonathan Matlock and Dr Ben Miles have a history of scaling up successful businesses in UK’s technology sector.

Ziylo was acquired by Novo Nordisk for over $800 million after being acquired by another company marking one of largest acquisitions of UK spinout companies.

Dr Matlock expressed his excitement about raising funds saying that it is crucial for supporting innovative startups that tackle future challenges such as climate change accessibility while highlighting how vital it is for these companies to have proper guidance from experts like Empirical Ventures who are experienced in leading due diligence on potential investments in deep science thus reducing risks for their investors and co-investors.

Dr Miles emphasized how important it is for these startups working on new technologies driven by fundamental research to get proper validation before investing any large sums into them which is what Empirical Ventures plays a vital role in doing by funding these projects from an early stage until they become successful enough for further investment or exit strategy development.

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