BioTech company with links to Dolly the Sheep is set for a £50m Series B fundraise. 

Edinburgh-based Roslin Technologies partners closely with the Roslin Institute, creator of Dolly the Sheep, the first mammal cloned from an adult somatic cell. 

It was founded to help turn the scientific discoveries of the University of Edinburgh’s Roslin Institute and Royal (Dick) School of Veterinary Studies into marketable solutions for the agricultural and veterinary sectors. 

The planned funding, led by Milltrust International LLP and JBI Equity, two of the world’s leading AgriTech advisors and founding investors in the company, values the business at more than £55m. 

It will be used to invest in a wide range of cutting-edge AgriTech initiatives and build valuable relationships through its growing number of portfolio companies.  

CEO Glen Illing said: “The capital raise is a significant milestone for us, demonstrating our huge potential.  

“Our clients are eagerly embracing technology solutions that our scientists are making, and we’re confident that our new key initiatives in the fields of insect, shrimp and in cultivated meat technology will become large-scale commercial ventures that make a positive difference to world markets.  

“Building on this incredible work, we believe Roslin Technologies will become one of the world’s leading AgriTech venture businesses.” 

The company said that COVID-19 is “weighing on certain investments” but is likely to attract considerable interest due to its non-cyclical and defensive aspects, focused on improving food security and safety.  

Its sustainable qualities are also in demand — tackling the global food deficit and making agriculture more environmentally efficient. 

JBI Equity Partner Kristian Bennetsen said: “We are truly delighted to reach this important marker of a Series B raise.  

The venture building approach Roslin Technologies is taking is unique in the industry, and we expect to see the partnership with Edinburgh University continue to develop and grow.  

The new projects are truly cutting edge and we are excited to see a period of accelerated growth ahead.” 

Milltrust CEO Simon Hopkins said: “As one of the founding investors in Roslin Technologies, it is very exciting to help the company take its next key growth step. We always knew the commercial potential for a business working with these leading scientists was excellent, and the next compelling pipeline of projects, along with the current portfolio growth, is tremendous to see.  

I look forward to sharing what has to this point been a well-kept secret to the widest range of investors – institutions, pension funds, family offices – about the considerable potential of Roslin Technologies.”