Cambridge Future Tech's $5 Million Raise Marks Major Boost for UK Tech Economy

Cambridge Future Tech (CFT), a DeepTech venture builder, has announced the successful close of its latest round, raising $5 million to unlock the UK’s tech potential ahead of a crucial election for national industrial strategy.

The UK ranks 4th in the Global Innovation Index as a research hub but is currently rated only 24th for commercialisation of this research. Vast amounts of innovation have remained stagnant within research labs.

Cambridge Future Tech’s unique 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.

Owen Thompson, CEO and co-founder of Cambridge Future Tech, said: “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.”

The $5 million funding will bolster CFT’s venture building activities, driving the next wave of DeepTech innovation for real global impact. 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, 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's innovative approach makes the route to market a reality; rapidly scaling, along with their ventures, to positively shape and evolve industries.

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.”

Recently, CFT expanded its board by welcoming Michael Beer and Jem Davies. Michael has held various senior finance positions in Silicon Valley, raising $1 billion in startup funding between his last two companies, including FreeWire Technologies. Jem Davies’ career spanned 18 years at Arm, where he held various leadership positions including founding GM of the Machine Learning division.