DeepTech venture builder Cambridge Future Tech has closed its latest round at around £4 million.

The UK ranks fourth in the Global Innovation Index as a centre for research, but is currently rated only 24th for commercialisation of this research, with vast amounts of innovation remaining stagnant within research labs.

Cambridge Future Tech’s hands-on approach bridges the gap from lab to market, spinning out cutting-edge tech from universities and corporate research groups to create market-leading ventures. 

By leveraging their commercial expertise and extensive network, Cambridge Future Tech co-founds ventures with technical and commercial founders; guiding them from pre-incorporation to pre-seed with the tools they need to succeed.

“This investment is testament to the huge and growing significance of DeepTech startups for the national industrial strategy, supporting the UK’s ambition to bridge the critical gap between scientific discovery and market-ready innovation as a science and technology superpower,” said Owen Thompson, CEO and co-founder of Cambridge Future Tech.

“Cambridge Future Tech is poised to continue expansion with our corporate and academic partners, with the long-term stability needed to begin the creation of a sister VC arm, further strengthening our venture building capabilities.”

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Working with leading universities and tech transfer offices, CFT will co-found eight new companies in 2024 – ahead of target to co-found a further 40 DeepTech ventures within five years. 

CFT will build an additional eight ventures each year with their corporate partners. Recent work has included industry giants AngloAmerican plc, and a partnership with CERN; the home of the Large Hadron Collider.

Since its launch in 2022, CFT has co-created 10 DeepTech ventures across the UK with several more currently in the build phase; generating over 80 highly skilled jobs and raising over $10 million in external funding. 

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Colin Hillier, CEO, Mission Decisions – a Cambridge Future Tech portfolio company – said: “The team at CFT is impressive. 

“Not only do they bring their own experience and considerable domain knowledge of the startup world to our challenges, they also do it with unbridled enthusiasm and positivity. Because they’ve lived the journey, they are uniquely placed to support startups to grow and thrive.”

Dr Ghina M. Halabi, Programme Lead at Cambridge Judge Business School Entrepreneurship Centre, said: “Cambridge Future Tech’s latest successful round is a powerful endorsement of their bold vision and steadfast commitment to DeepTech innovation. 

“By fostering a diverse and inclusive entrepreneurial ecosystem, especially supporting women founders, they are not only driving cutting-edge advancements but also ensuring that the brightest minds are empowered to solve the tough problems facing our world today.”

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