By Tech.eu
Cambridge Future Tech has raised $5M to support deeptech startups between pre-incorporation and pre-seed stages develop their businesses to attract Venture Capital.
CFT is based in Cambridge, and is led by CEO Owen Thompson and COO Xavier Parkhouse-Parker. They work closely with leading UK universities, scientists, and inventors to commercialise scientific discoveries and technological innovations. Recent work has included industry giants AngloAmerican plc, and a partnership with CERN; the home of the Large Hadron Collider.
The company has committed to building 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. These ventures have been awarded over $4.5 million in grants, supporting vital research and development efforts. With an aggregate valuation surpassing $50 million at pre-seed, CFT has successfully guided six ventures through their pre-seed rounds in the past year.
CFT-supported startups include Literal Labs, Mimicrete, Autopickr, NeuroXR, CamAI, Mission Decisions, SAIF, and GitLife Biotech.
CEO and founder Thompson commented: “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.
“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.”