Innovate UK

Quantum information processing is slowly becoming a reality, ushering in a new technological era.

Quantum Computing

<div>
 
 D-Wave, a manufacturer of quantum annealers, is the world&rsquo;s first commercial supplier of quantum computers, as well as a frontrunner in quantum annealing technology. The company unveiled plans to build a 
 <a href="https://sp-edge.com/updates/5860">
 gate-model system
 </a>
 in October 2021, making it the first and only quantum computing company to offer both annealing and gate-model systems. However, the company has not revealed much about its progress on the gate-based systems yet.&nbsp;
 
 
 D-Wave introduced the world&rsquo;s first commercially available 128-qubit quantum computer using annealing technology in 2011. Over the years, the company has focused on increasing the qubits, with its latest annealer system launched in 
 <a href="https://sp-edge.com/updates/11170">
 June 2022
 </a>
 comprising 500 qubits. It also announced plans to launch a 7,000-qubit annealer by 2023&ndash;2024. D-Wave claims its quantum annealers can be used for accelerating and enabling new methods for solving complex optimization problems, artificial intelligence, machine learning, and simulation problems.&nbsp;
 
 
 The company&rsquo;s main competitive advantage comes from being the only player that offers commercially available annealing quantum computer systems, which can be installed on premises. However, D-Wave has yet to demonstrate the advantages of its annealing technology over classical computers despite being in operation for more than 20 years.&nbsp;
 
 
 
 
 
 Key customers and partnerships
 
 
 
 
 The company operates its own quantum cloud service to build and deploy quantum computing applications, also offering access to its hardware via cloud solutions from other companies like Amazon Web Services (AWS) and 1Qbit. Its quantum annealers are in commercial use by companies such as Volkswagen and Lockheed Martin.
 
 
 The company partnered with many quantum software and hardware companies including; 
 <a href="https://sp-edge.com/updates/26748">
 NEC
 </a>
 (February 2024- initially entered in 
 <a href="https://www.nec.com/en/press/202112/global_20211207_01.html">
 December 2021
 </a>
 ), to introduce two new quantum services in Australia to provide advanced computing solutions for commercial sectors, governments, and academic institutions; 
 <a href="https://sp-edge.com/updates/26472">
 Zapata AI 
 </a>
 (February 2024), to combine generative AI and quantum computing technologies to develop commercial applications;&nbsp; 
 <a href="https://sp-edge.com/updates/25861">
 Deloitte
 </a>
 (January 2024), to advance quantum computing applications within the Canadian government and local businesses as a part of the Canadian national quantum strategy;&nbsp; 
 <a href="https://sp-edge.com/updates/23134">
 QuantumBasel
 </a>
 (October 2023- initially entered in December 2022), to accelerate quantum and quantum-hybrid application development in Europe; and 
 <a href="https://sp-edge.com/updates/22644">
 Satispay
 </a>
 (October 2023), to build a quantum-hybrid application for optimizing customer rewards programs.
 
 
 
 
 
 Funding and financials
 
 
 D-Wave went public on the New York Stock Exchange (NYSE) in August 2022 via a
 <a href="https://sp-edge.com/updates/12168">
 special-purpose acquisition company 
 </a>
 (SPAC) merger.
 
</div>

<div>
 
 SeeQC is a quantum hardware startup spun out from Hypres, a leading developer of superconductor integrated circuits. SeeQC is developing a unique digital system-on-a-chip design that integrates classical and quantum circuits into a hybrid system in order to overcome quantum computers&rsquo; current challenges. The company owns and operates a state-of-the-art superconductive chip fabrication facility and provides foundry services for superconducting devices. It also has facilities in London, UK, and Naples, Italy.
 
 
 Through the hybrid approach, SeeQC believes it can reduce the cost of quantum computers by 1/400th, provide greater control, and reduce energy requirements significantly.
 
</div>

<div>
 
 Infleqtion (formerly ColdQuanta) is a developer of quantum computers based on the use of cold neutral atoms (similar to trapped ions, but cold atoms), which the company believes will help with scalability. Its current focus is on building hardware, but the company recently entered the software space with the acquisition of quantum software company 
 <a href="https://sp-edge.com/updates/10378">
 Super.tech
 </a>
 .
 
 
 ColdQuanta, which was a spin-off of the University of Colorado Boulder, started off as a supplier of various quantum instruments and systems, later venturing into building its own quantum computers. In 
 <a href="https://coldquanta.com/were-proud-to-announce-infleqtion/">
 November 2022
 </a>
 , a new umbrella brand, &ldquo;Infleqtion,&rdquo; was launched, under which ColdQuanta will operate as a dedicated quantum research branch. This restructuring reflects the company&rsquo;s aim of building an ecosystem of quantum technologies and commercial quantum products via acquisitions.&nbsp;
 
 
 The company operates in three lines of business: Quantum Computing, Devices and Machines, and Quantum Research-as-a-Service (QRaaS). The quantum computing division builds quantum computers, and in July 2021, it announced reaching 100 qubits in its cloud-based quantum system &ldquo;Hilbert.&rdquo; The devices and machines division provides hardware to other quantum computing companies and quantum lab environments.&nbsp;
 
 
 The company claims its key advantage is the core technology that has applications in a variety of hardware, ranging from accelerometers, spoof-proof GPS devices, radio frequency (RF) sensors, stealth communications, etc., which are carried out by the QRaaS division.&nbsp;
 
 
 Key customers and partnerships
 
 
 The company has received three contracts from the US Defense Department&rsquo;s Defense Advanced Research Projects Agency (DARPA): 1) to develop a scalable cold-atom-based quantum computing hardware and software platform to demonstrate quantum advantage, which was worth USD 7.4 million (April 2020); 2) to develop a Rydberg atom-based radio frequency (RF) sensor system, value undisclosed (
 <a href="https://sp-edge.com/updates/4981">
 August 2021
 </a>
 ); and 3) to accelerate the development of Coldquanta&rsquo;s atomic clock technologies, including sensing and quantum positioning systems (QPS, value undisclosed (
 <a href="https://sp-edge.com/updates/12517">
 August 2022
 </a>
 ). It also partnered with Israeli quantum software startup 
 <a href="https://sp-edge.com/updates/8114">
 Classiq
 </a>
 in January 2022 to jointly build 100-qubit quantum circuits, and Arizona-based space travel company 
 <a href="https://www.prnewswire.com/news-releases/infleqtion-and-world-view-launch-new-quantum-application-testing-solution-301728567.html">
 World View
 </a>
 to launch a faster and cost-effective quantum application testing solution (January 2023).
 
 
 Funding and financials
 
 
 In its latest 
 <a href="https://sp-edge.com/updates/14183">
 Series B
 </a>
 funding round led by LCP Quantum, Infleqtion raised USD 110 million in November 2022 to fund its commercialization initiatives. Prior to that, it secured 
 <a href="https://sp-edge.com/updates/14138">
 USD 29 million
 </a>
 from the Australian state of Victoria to establish a quantum tech facility in Australia. In the company&rsquo;s 
 <a href="https://sp-edge.com/updates/8202">
 performance update for FY2021
 </a>
 , it reported a 140% increase in contract bookings. 
 
</div>

<div>
 
 Multiverse Computing is focused on offering quantum software solutions for companies in the financial sector. Its key focus areas are financial optimization, fraud detection, and artificial intelligence. Multiverse has offices in Donostia (Spain) and Toronto (Canada). By 2027, it forecasted generating an annual revenue of EUR 100 million (USD 116 million) and aimed to expand its staff to 100.
 
 
 Key customers and partnerships
 
 
 The company was exploring new partnerships across the European region to expand its footprint. It partnered with several companies&mdash;the most recent being with UK-based IT solutions provider 
 <a href="https://sp-edge.com/updates/12738">
 Objectivity
 </a>
 (August 2022) to deploy quantum solutions to companies in the European, Middle Eastern, and African (EMEA) region. This was following a partnership with multinational chemical company 
 <a href="https://sp-edge.com/updates/12602">
 BASF
 </a>
 (August 2022) to develop a quantum-assisted foreign exchange (forex) optimization solution and 
 <a href="https://sp-edge.com/updates/11891">
 Bosch
 </a>
 (July 2022) to build a digital twin (a digital replica) of a manufacturing facility.
 
 
 The company also partnered with fellow quantum computing startups 
 <a href="https://sp-edge.com/updates/12516">
 IQM
 </a>
 (August 2022) to develop application-specific quantum processors as well as 
 <a href="https://sp-edge.com/updates/8250">
 Xanadu
 </a>
 (February 2022) and 
 <a href="https://sp-edge.com/updates/6637">
 IonQ
 </a>
 (November 2021) to develop quantum-based finance solutions.&nbsp;
 
 
 In September 2022, Multiverse joined an industrial electric vehicle 
 <a href="https://sp-edge.com/updates/12822">
 consortium
 </a>
 led by Renault to advance the technology around autonomous, electric, and connected vehicles in Spain. The company has also been part of the 
 <a href="https://sp-edge.com/updates/4628">
 Strangeworks
 </a>
 Quantum Syndicate since July 2021.&nbsp;
 
 
 Funding and financials
 
 
 In December 2021, Multiverse raised a EUR 12.5 million (USD 12.4 million) investment from the 
 <a href="https://sp-edge.com/updates/7435">
 European Innovation Council 
 </a>
 accelerator program established by the European Commission in 2021. The investment consisted of a EUR 10 million (USD 11.3 million) equity investment and EUR 2.5 million (USD 2.8 million) in the form of a grant. The proceeds were earmarked for advancing and further developing its Singularity platform and other solutions as well as expanding its team and market base.
 
</div>

<div>
 
 UK-based Riverlane is a quantum software company spun out of the University of Cambridge. The company&rsquo;s flagship product Deltaflow.OS, is a quantum operating system that can run on different types of quantum computing hardware. The company also offers Deltaflow-VL, a quantum control system, and Anian, a software solution for developing chemical applications.
 
 
 Key customers and partnerships
 
 
 Riverlane is a part of the government's USD 9.3 million Industrial Challenge Strategy Fund to deploy an innovative quantum operating system. This funding requires Riverlane to work together with other quantum startups in the UK and deliver its operating system to every quantum computer in the country.&nbsp;
 
 
 In August 2021, The company secured its first sales contract of the UK's National Quantum Computing Centre (NQCC)&mdash;which is funded by the UK Research and Innovation body&mdash;to supply quantum software products.
 
 
 Funding and financials
 
 
 In April 2023, the company raised GBP 15 million (USD 18.7 million) in a Series B funding round led by Molten Ventures, which brought Riverlane&rsquo;s total funding to USD 43 million. The funds from the round were earmarked to fuel the development of Riverlane&rsquo;s operating software Deltaflow.OS.&nbsp;
 
</div>

Artificial intelligence is identifying and testing new therapies faster than ever.

AI Drug Discovery

<div>
 
 Optibrium is based in the UK and provides software solutions to support drug discovery. The company has three products in its portfolio. Its flagship product, Stardrop, is a software platform for small molecule design, optimization, and data analysis. It launched Cerella, an artificial intelligence (AI) software platform for drug discovery that uses advanced deep learning methods in October 2020. This can be deployed on-premise as well as via cloud computing. It processes sensitive information on-premise and encrypted and anonymized data through the cloud. The company claims this provides both data security and scalability. 
 
</div>

<div>
 
 UK-based Kuano is a drug discovery company that leverages the power of&nbsp; AI, quantum physics, and medicinal chemistry to generate enhanced enzyme inhibitors which the company says are required for the creation of superior drugs. Its discovery platform performs enzyme modeling through quantum mechanical simulations to generate enzyme inhibitors that have strong binding at the quantum transition state, are highly selective, and can withstand mutations that cause loss of enzyme function.&nbsp;
 
 
 
 
 This approach is based on simulating quantum transition states in silico and does not rely on structure based drug discovery (SBDD) which uses ligand binding data. The company says SBDD is a time consuming and costly process and is based on an imperfect model of ligand-enzyme interactions.
 
 
 
 
 Key customers and partnerships
 
 
 The company&rsquo;s platform is used for the company&rsquo;s own therapeutics pipeline and with collaborative programs with academic partners, including Alzheimer&rsquo;s Research UK and the University College London Drug Discovery Institute.
 
 
 In June 2021, the company was awarded a grant by the UK Government under the &ldquo;InnovateUK - Business-led innovation in response to global disruption&rdquo; initiative to build a combined AI and modeling service for rapid response drug design to tackle the Covid-19 pandemic. The company is also a part of the Covid-19 High Performance Computing Consortium, working with Amazon Web Services (AWS) on accelerating the development of therapeutics to treat the virus.&nbsp;
 
 
 
 
 
 Funding and financials
 
 
 Founded in 2020, the company raised GBP 1.8 million (~USD 2.4 million) in a seed funding round led by Mercia Ventures 
 <a href="https://sp-edge.com/updates/21806">
 in September 2023
 </a>
 . The proceeds were used to support the growth and validation of Kuano's platform for enzyme-targeted drug discovery. 
 
</div>

<div>
 
 Based in Israel, Eleven Therapeutics develops RNA interference (RNAi) therapeutics for a variety of therapeutic areas including respiratory diseases. It leverages its proprietary drug discovery platform that combines AI and combinatorial chemistry to design small interfering RNAs (siRNAs) and interpret the structure-activity relationship (SAR) of siRNAs, thereby silencing disease-causing genes.&nbsp;
 
 
 The company is building a database of the activity profiles to map a massive scale of siRNA molecules according to a number of components including safety, efficiency, and duration of effect. It uses big data and a deep learning framework to screen the best combinations of the molecules to identify therapeutics. Founded in 2020, the company also has operations in the UK and US.
 
 
 Key customers and partnerships
 
 
 The company partnered with Dong-A ST in January 2024 to develop an RNA-based gene therapy to treat fibrosis diseases. Further in
 <a href="https://www.prnewswire.com/news-releases/eleven-therapeutics-announces-research-collaboration-with-novo-nordisk-to-discover-cell-specific-carriers-of-nucleic-acid-therapeutics-301878265.html">
 July 2023
 </a>
 , the company had partnered with Novo Nordisk to discover cell-specific carriers of nucleic acid therapeutics.&nbsp;
 
 
 Funding and financials
 
 
 In August 2022, Eleven Therapeutics raised 
 <a href="https://sp-edge.com/updates/12081">
 USD 22 million
 </a>
 in seed investments from a number of investors including USD 9 million from the Bill &amp; Melinda Gates Foundation comprising USD 5 million in future equity investment and USD 4 million as a non-dilutive grant. The proceeds were earmarked for developing its ​​AI-powered platform and establishing its therapeutic pipeline.
 
</div>

<div>
 
 Based in the UK, Lab Genius uses a combination of AI, robotic automation, and synthetic biology to develop protein therapeutics. The company&rsquo;s smart robotic platform, EVA, is capable of designing, conducting, and learning from its own experiments to discover and characterize new molecules with a particular focus on antibody discovery for cancer and inflammatory diseases. This platform technology intelligently navigates the design space using an iterative process called &ldquo;active learning,&rdquo; significantly increasing the likelihood of identifying high-performing antibodies more quickly than conventional methods.
 
 
 Key customers and partnerships
 
 
 LabGenius has entered notable partnerships to enhance its research capabilities and leverage its ML-driven platform. In July 2021, the company announced a multi-year research collaboration with 
 <a href="https://labgeni.us/news-1/pressrelease-sanofi-atzg7">
 Ablynx
 </a>
 , a Sanofi company, to optimize drug candidates focused on inflammation. The company also partnered with 
 <a href="https://www.tillotts.com/news-events/pressrelease/tillotts-pharma-ag-and-labgenius-enter-development-agreement-in-inflammatory-bowel-diseases/">
 Tillots Pharma AG
 </a>
 in March 2019 to discover and develop durg candidates to treat inflammatory bowel diseases (IBD).
 
 
 Funding and financials
 
 
 In October 2022, LabGenius secured a 
 <a href="https://sp-edge.com/updates/13649">
 grant
 </a>
 from InnovateUK via its highly competitive GBP 25 million (USD 28 million) SMART program to advance the company&rsquo;s AI platform. In October 2020, the company raised USD 15 million in a 
 <a href="https://www.maddyness.com/uk/2020/10/30/labgenius-closes-15m-series-a-extension-led-by-atomico/">
 Series A
 </a>
 funding round led by Atomico to develop its platform and product portfolio.
 
</div>

Sustainably solving the food shortages of the future

Smart Farming

<div>
 
 Based in the UK, Breedr offers a livestock management platform that uses predictive analytics to transform data such as genetics, weight, health, and medication into actionable insights to help farmers grow and manage cattle. Data can be recorded digitally on smartphones via a semi-automated process using integrated sensors or tags or can be entered manually. Breedr also offers a livestock trading marketplace that integrates its data platform to provide better transparency to buyers on the animals sold and allows sellers to charge higher prices. Breedr has also launched a new product 
 <a href="https://sp-edge.com/updates/9298?industryIds=50">
 “Breedr Cashflow,”
 </a>
 a financing facility for farmers, where they can borrow using their livestock as collateral. 
 
 
 The company also claims that by using its platform, its top customers can make precise feeding decisions to prevent overfeeding and feed wastage and produce beef with a 28% lower carbon footprint compared to the industry average. Farmers using Breedr are also claimed to save 1.8 tons of feed per cow and reduce finishing time (the process of feeding cattle to prepare them for slaughter) by 5 months. 
 
 
 The platform comes in both free and paid versions. The paid version, “Benchmark,” costs GBP 29.5/month and comes with additional features such as management of both cattle and sheep, onboarding support, and phone support services. Farmers using the free version will automatically upgrade to Benchmark for free if they trade 20 animals. Breedr also generates its revenue from its trading platform by charging sellers a service fee of 1%–3% of the selling price. As of March 2022, Breedr had registered 160,000 animals, is used by 1,100 farms, and had traded 6,000 animals recording GBP 4.5 million (USD 5.91 million) in transactions completed (from January 2021).
 
 
 Breedr has also integrated its platform with Cattle Tracing Systems (CTS) such as British Cattle Movement Services (BCMS) in the UK and ScotEID in Scotland to allow farmers trace their cattle across the supply chain by entering information such as birth date.
 
 
 
 <a href="https://sp-edge.com/updates/9298?industryIds=50">
 In March 2022,
 </a>
 Breedr raised GBP 12 million (~USD 15.8 million) in Series A funding led by Investbridge Capital. The funds would support the launch of its new finance product.  
 
</div>

<div>
 
 Based in the UK, Drone Ag is a reseller of agricultural drones and developer of automation software for agricultural operations. The company offers two drone models from Chinese drone manufacturer DJI: “DJI Agras” for automated chemical spraying and seeding and “DJI Phantom 4 RTK” for field mapping. It also offers an in-house developed mobile app called “Skippy Scout” that can be paired with existing drones to automatically fly, capture field maps, and create reports of the farm. The reports include information on green area index, number of emerging plants, and weeds. The company also provides training courses for its users and offers AI-based software for insights and recommendations. 
 
 
 The company offers Agras and P4 RTK drones starting from GBP 8,000 and GBP 4,500, respectively. Skippy Scout is subscription-based service starting from GBP 50 per month and also has an enterprise option with custom pricing. As of February 2022, the company had 150 users across 500 farms and 18 countries and claimed to have saved more than 785 hours of labor for its UK users in the prior season. 
 
 
 In February 2022, the company raised more than GBP 650,000 (~USD 771,000 ) from 934 investors from its campaign on crowdfunding platform Crowdcube. The company also received a GBP 145,000 (~USD 172,000) grant from Innovate UK, completing a GBP 795,000 (~USD 943,000) funding round in the month. The funds were earmarked for staff expansion, development of soil sampling functions for its drones, and development of an Android-compatible version of Skippy Scout.
 
 
 
</div>

<div>
 
 Crover offers automated robotic solutions to monitor and record information on harvested grains such as wheat and barley. The company’s robotic device can “swim” into a bulk of granular grains, monitor their condition, and provide information on spoilage and drops in quality to farmers or grain storekeepers. The robotic systems can be operated remotely to reach every corner of the bulk of grains and also comes equipped with temperature and moisture sensors to provide real-time information to avoid crop loss. 
 
 
 
 Crover’s robot is offered through a hardware-as-a-service business model, priced at GBP 3,000 (USD 4,000) per robot per year for both the hardware and software. According to the company, farmers require one robot per silo. In 2020, the company reported that it piloted its robot in Scotland and England and claimed that it has also received interest from companies in Italy and Spain. 
 
 
 
 In July 2021, UK-based Crover raised GBP 321,833 (approx. USD 448,000) via a crowdfunding campaign on the Crowdcube platform. The campaign was launched at the end of June with a target of GBP 150,000. The funds are expected to be used to scale production and run pilot projects in the UK, and Europe, and, potentially in the US by 2022. The company also expects to further develop its precision technology for crop analysis and automated sampling features. 
 
</div>

Fieldwork Robotics is a UK-based company that develops autonomous berry harvesting robots. The company's technology is characterized by its adaptability and modular design, allowing for efficient performance in different crop types and field conditions. The company's products include the Raspberry Picking Robot, which is equipped with precision sensors, advanced algorithms and four picking arms using 3D cameras to accurately identify and harvest ripe berries.The company has developed the Vertical Harvester and Horizontal Harvesting robots for operations in both vertical farms and traditional fields. The company has worked with Bosch to develop its autonomous raspberry harvesting robot, called “Alpha.” Alpha has been harvesting crops on farms in Portugal and the fruits picked are sold in UK supermarkets including M&amp;S, Sainsbury's, and Waitrose.Funding and financialsIn <a href="https://sp-edge.com/updates/20958">August 2023</a>, Fieldwork Robotics raised a secured GBP 1.5 million (~USD 1.9 million) in a fundraising led by Elbow Beach Capital, with participation from existing investors including Frontier IP and a family office. The funding was raised through a Seedrs campaign and is expected to exceed GBP 2 million (~USD 2.5 million). Upon completion, the company intends to use the funds to help farms overcome labor shortages, minimize crop waste and combat food inflation with its robotic harvesting technology. In December 2023, the company was awarded a GBP 515,000 (~USD 652,000) grant from the Department of Food and Rural Affairs (DEFRA) and UK Research and Innovation (UKRI) to accelerate its GBP 1.1 million (~USD 1.4 million) BerryBot Project.

Additive manufacturing makes objects by systematically adding material via a CAD program

Additive Manufacturing

<div>
 
 British company Additive Manufacturing Technologies (AMT) offers post-printing hardware solutions targeting medical, consumer goods, automotive, aerospace, dental, electronics, and tooling use cases. The company offers a range of printers, some with patented technology for de-powdering, shot blasting, and chemical vapor smoothing for different use cases like low-volume prototyping, high-volume production as well as continuous automated production. AMT&rsquo;s post-processing solutions are said to increase mechanical properties of the printed part, improve surface quality and dimensional accuracy, seal against liquid and gas intake, enhance color, and reduce bacteria growth.&nbsp;
 
 
 In October 2023,&nbsp; AMT 
 <a href="https://sp-edge.com/updates/23370">
 introduced
 </a>
 a new desktop chemical vapor smoothing machine called PostPro SFX, designed to improve the surface finish and mechanical properties of parts produced by small-format powder bed 3D printers.
 
 
 Key customers and partnerships
 
 
 AMT printers are compatible with technologies and materials offered by over 20 AM companies in the market including 3D Systems, hp, Markforged, Prodways, Roboze, Stratasys, and Ultimaker. The company sells through a network of distributors and resellers in North America, Europe, and the APAC region with offices in the US, the UK, and Taiwan.
 
 
 Funding and financials
 
 
 In October 2021, AMT raised USD 15 million in Series B funding, bringing the total to USD 25 million. The new funds were expected to be used to roll out new products and scale day-to-day commercial operations.
 
 
 
</div>

<div>
 
 Additive Manufacturing Solutions (AMS), a UK-based 3D printing company, offers support in material development, parameter optimization, testing, and reporting. This includes providing additive manufacturing (AM) samples in standard forms or prepared specimens, along with materials testing capabilities ranging from tensile to fatigue testing, microscopy, surface roughness analysis, and indentation plastometry. AMS is also engaged in developing powder manufacturing and cleaning solutions.
 
 
 AMS collaborates with accredited labs and uses the GranuTools suite for powder testing, offering services and quotes as it prepares for an online launch in 2024. Moreover, AMS extends support for AM adoption, assisting in strategic leadership, specification authoring, certification routes, and facility design to help clients implement their AM strategies. AMS planned to launch the Additive Manufacturing Academy in 2024.
 
 
 Key customers and partnerships
 
 
 In December 2023, 
 <a href="https://sp-edge.com/updates/24772">
 AMS partnered with the UK Ministry of Defence (MOD)
 </a>
 for research on reusing surplus defense materials in AM. The collaboration aimed to establish a domestic supply chain, initially focusing on trials for atomization, additive manufacturing feasibility, and future material exploration. This should progress to the material qualification and industrialization stages.
 
 
 
</div>

<div>
 
 Authentise is a provider of software solutions for additive manufacturing (AM). It uses a data-driven workflow management technology that helps to manage the manufacturing and production of prototypes and parts by following a process of production planning, digital parts library, monitoring, reporting, and KPI analytics. The company claims that its software helps reduce the processing time of orders by around 80% while reducing build preparation time by over 95%. In October 2022, Authentise launched the 
 <a href="https://sp-edge.com/updates/13852">
 &ldquo;Digital Design Warehouse&rdquo;
 </a>
 platform to enable users to share digital designs with ease. The platform allows users to upload any 2D or 3D file type with fully configurable additional parameters to create a personal library. The platform also allows users to share their designs with internal and external stakeholders including clients. It also announced the general availability of a rebranded workflow management suite for additive manufacturing named 
 <a href="https://sp-edge.com/updates/15305">
 FlowsAM
 </a>
 in December 2022. In June 2023, the company released 
 <a href="https://sp-edge.com/updates/19163">
 3DGPT,
 </a>
 a generative AI-based tool that allows users to ask questions on additive manufacturing.
 
 
 In February 2022, Authentise acquired a UK-based provider of self-serve workflow tools for manufacturing Elements Technology to offer customers a connected workflow management solution to manage their operations efficiently.
 
 
 Key customers and partnerships
 
 
 Authentise has partnered with several AM companies including Solukon (2021), Riven (2021), Hexagon (2021), Nebumind (2020), and Addiguru (2020) to improve its product offerings. Some of the company&rsquo;s customers include Boeing, Ricoh, 3M, Danfoss, and Carpenter Additive.
 
 
 Funding and financials
 
 
 In December 2021, an Authentise-led AM consortium was awarded a UK Research and Innovation (UKRI) grant to develop solutions that improve energy efficiency and material efficiency in ceramic and metal AM. The company has offices in Philadelphia, London, and Kyiv. 
 
 
 
</div>

<div>
 
 Based in the UK, AMFG offers a manufacturing execution system (MES) and workflow automation software for additive manufacturing (AM). Some of the use cases include rapid prototyping, spare parts, and serial production targeting automotive, industrial goods, consumer goods, and aerospace applications. The software includes several product modules including order management to automate and standardize order management workflows, centralized ordering platform, machine connectivity, post-processing and quality management, creating and managing digital inventory for AM applications, production planning, analytics, and reporting. AMFG operated in 30+ countries as of January 2024.&nbsp;
 
 
 Key customers and partnerships
 
 
 AMFG has partnered with several companies to optimize and standardize AM workflow including Sigma Labs (March 2022) and EOS (November 2019). In September 2021, the company partnered with AM company Stratasys&rsquo; GrabCAD software partner program to integrate AMFG&rsquo;s software with Stratasys FDM systems and GrabCAD software. In December 2020, AMFG partnered with HP to enable data streaming and connectivity for HP Multi Jet Fusion systems through AMFG&rsquo;s software.
 
 
 In November 2023, AMFG partnered with 
 <a href="https://sp-edge.com/updates/24215">
 Dyndrite
 </a>
 to use its automated nesting system in AMFG's software for an optimized pre-production process.
 
 
 Funding and financials
 
 
 In November 2022, AMFG raised 
 <a href="https://sp-edge.com/updates/14799">
 USD 8.5 million
 </a>
 led by Intel Capital to scale the company&rsquo;s AM processes and continue to expand business reach. 
 
</div>

A new industry proving that digital connectivity and mental health can co-exist.

Digital Wellness

<div>
 
 UK-based FitXR is a publisher of a VR-based fitness solution, which provides three main types of workouts relating to boxing, dance, or high-intensity interval training (HIIT)-related activities. The platform allows for users to exercise on-demand along with their friends and communicate with them. Dance-related workouts feature music from both prominent and indie labels. The platform publishes new workouts daily for users to partake in and has virtual workouts conducted by top celebrity instructors and athletes including Nicola Adams, an Olympic gold medallist boxer. 
 The company operates on a subscription basis, where users are charged USD 10 per month for complete access to the platform. The company also sells equipment and apparel through an online store.
 
 
 FitXR is the only Digital Wellness disruptor covered on the hub that specializes in VR based workouts.
 
 
 Funding and financials
 
 
 
 In July 2020, the company raised USD 7.5 million in a venture funding round led by Hiro Capital, bringing the total funding raised to USD 8.8 million. The round in July included a USD 1.2 million investment from Innovate UK as well. The new funds are expected to be used to explain operations within Europe and North America and to accelerate the launch of new products.
 
</div>

<div>
 
 UK-based Acurable is the developer of a wearable home sleep testing device that detects and monitors obstructive sleep apnea. Its device requires no additional medical knowledge and enables automated testing of patients at home. The device is a small sensor that is attached to the base of the user&rsquo;s neck to record sounds associated with respiratory and cardiac functions. The recordings are transmitted to a cloud platform which generates a diagnosis report which is share with healthcare professionals.&nbsp;&nbsp;&nbsp;
 
 
 The device, called the &ldquo;AcuPebble SA100,&rdquo; was launched in the UK and Spain in 2021 and has since received both CE certification in Europe and FDA 501(k) clearance in the US.&nbsp;&nbsp;
 
 
 Funding and financials
 
 
 In October 2022, the company raised EUR 11 million (USD 10.8 million) in a Series A funding round led by Kibo Ventures, along with participation from other investors. The funds were set aside to assist with scaling its operations in the UK and Spain while expanding internationally across Europe and North America. Additionally, a portion of the funds were allocated for the development of new devices for diagnosing and managing other conditions such as chronic obstructive pulmonary disease (COPD), asthma, and cardiovascular conditions. 
 
 
 
</div>

<div>
 
 Founded in the UK, Holly Health is an AI-powered digital coaching app that helps users with health issues related to sleep, stress, wellbeing, and weight management. Its treatment methods incorporate mindfulness, cognitive behavioral therapy, gamification, and nudge therapy. The virtual health coach app is developed based on over a thousand hours of clinical, psychological and end-user feedback. It aims to&nbsp; achieve a user base of five million individuals by 2025.&nbsp;
 
 
 The company operates a B2B2C through employers, clinicians, coaches/trainers, nutritionists, and offers services directly to users via the app as well.&nbsp;
 
 
 Key partnerships and customers
 
 
 In July 2022, the company announced a partnership with Age UK Lewisham and Southwark to run an 18-month pilot program, aiming to help 6,000 individuals between 50 and 70 years old to better manage their own health and wellbeing through Holly Health&rsquo;s app.
 
 
 Funding and Financials&nbsp;
 
 
 The company received its most recent investment in December 2023 when the company received a combined equity and grant funding of GBP 650,000 (USD 815,685). The funding round was contributed by Innovate UK, Innovation SuperNetwork, Plug and Play Ventures, and Modality Partnership. Holly Health did not disclose what the funds would be used for. 
 
</div>

Earth-friendly biotech solutions for the textile, packaging and construction industries.

Bio-based Materials

<div>
 
 Xampla is a British sustainable plastic materials company. The company was founded as a spinoff from the University of Cambridge. Xampla has developed its patented technology after 15 years of research led by experts in the field. The company manufactures cutting-edge material developed from sustainable natural sources, which serves as a direct, high-performance substitute for plastic. These materials are versatile and can be tailored for food-related applications, using various food-grade plant proteins and other natural ingredients. The company claims that it has the world&rsquo;s first technology that protects fortified beverages by encasing vitamins and nutrients in an edible plant-protein layer, ensuring they remain intact during shipping in clear, recyclable bottles.
 
 
 
 
 In September 2023, the company launched a consumer brand called &ldquo;Morro,&rdquo; which aims to rid the world of single-use plastics. Morro materials are high-performing, sustainable, and biodegradable in the natural environment. They are also stated to be edible and soluble, making them suitable for use in food packaging. As of October 2023, the company noted that it is exploring the use of proteins derived from agricultural waste, including leguminous crop leftovers, for potential applications.
 
 
 
 
 Key customers and partnerships
 
 
 
 
 The company works with global brands such as Gousto, a leading meal kit company, and Britvic, a prominent soft drink manufacturer. The company partnered with Gousto in 2021 to produce the first-ever edible plant protein stock-cube wrapper, a sustainable alternative to plastic, offering the required shelf-life stability. In 2022, it signed a GBP 1 million (~USD 1.2 million) packaging innovation partnership with Britvic.&nbsp;
 
 
 
 
 Funding and financials
 
 
 In January 2021, the company raised GBP 6.2 million (~USD 7.5 million) in a seed funding round spearheaded by the investors behind Zoom to expedite the introduction of its advanced plastic alternative. 
 In January 2024, Xampla and the 2M Group of Companies were awarded the 
 <a href="https://sp-edge.com/updates/25289">
 Innovate UK Smart Grant
 </a>
 to scale up Morro production to several tons per day at the Milton Keynes site.
 
 
 
</div>

<div>
 
 Kelpi, based in England, is a biotech company that creates biopolymers from seaweed to create bioplastics for compostable food packaging. As a result, the company claims that each piece of packaging reduces fossil fuel demand and carbon dioxide emissions. According to the company, its bioplastic technology is marine-safe, carbon-neutral, and resistant to water, oxygen, grease, and acid.
 
 
 
 
 Kelpi is currently leading a collaborative R&amp;D project to create a specialist compostable bioplastic film with a strong oxygen barrier that outperforms fossil fuel plastics even in boiling water at high pressure.
 
 
 
 
 Key customers and partnerships
 
 
 
 
 In March 2021, the company collaborated with the University of Bath to leverage research facilities and expertise to accelerate the testing of its biopolymer composite materials. In addition, the company works closely with Innovate UK, the HM Government, EU European Regional Development Fund, and the West of England Combined Authority.
 
 
 
 
 Funding and financials
 
 
 
 In 
 <a href="https://sp-edge.com/updates/16153">
 February 2023
 </a>
 , the company raised more than GBP 3 million (~USD 3.7 million), led by Science Creates Ventures and Green Angel Syndicate, to conduct manufacturing pilots for its proprietary coatings for paper and cards. The round includes a GBP 665,000 grant funding from Innovate UK&rsquo;s Combined Investor Partnership.
 
</div>

<div>
 
 FlexSea is a British biotech startup that develops seaweed-derived bioplastic. FlexSea&rsquo;s bioplastic materials derived from seaweed are completely biodegradable in marine and soil environments and are also home-compostable within eight to 12 weeks. The use of seaweed allows a fast material turnover and efficient and sustainable raw material transformation. FlexSea claims that its thorough formulation allows it to produce materials cost-effectively when compared to other bio-based or biodegradable plastics.
 
 
 The company notes that a seaweed plant can achieve a growth rate of up to one meter per day, sustaining its growth throughout the year. As such, a complete cultivation cycle for FlexSea only requires approximately 45 days, whereas using ingredients like sugar cane would take more than a year, while corn and beetroot demand many months.
 
 
 The company's products are meant to be used in both dry food and non-food applications and offer a sustainable alternative to traditional plastics. As of October 2023, the company has yet to commercialize its products. The company is looking to initially commercialize its products in the UK and Portugal.&nbsp;
 
 
 Key customers and partnerships
 
 
 In October 2023, British American Tobacco (BAT), via its venture capital investment in FlexSea, was looking to cooperatively explore how FlexSea's technologies and methods could enhance BAT's supply chain.
 
 
 Funding and financials
 
 
 In October 2023, the company raised 
 <a href="https://sp-edge.com/updates/22422">
 EUR 2.3 million
 </a>
 (~USD 2.4 million) in an equity seed funding round led by Indico Capital Partners.&nbsp;
 
 
 
</div>

Leveraging personal data for custom-fit diagnosis and treatment

Precision Medicine

<div>
 
 NRG Therapeutics is a neuroscience company developing small molecule therapies to slow or halt the progression of neurodegenerative disorders such as Parkinson&rsquo;s and amyotrophic lateral sclerosis (ALS). It primarily targets the mitochondrial permeability transition pore (mPTP) inhibitors. Mitochondria are the batteries of cells and are important for maintaining cell health. The company claims it is the first to discover orally bioavailable and CNS gene mPTP inhibitors.&nbsp;
 
 
 The company&rsquo;s pipeline includes multiple drug candidates in the preclinical stage, which target the mPTP inhibitor that occurs when mitochondria fail to produce enough energy for the body to function properly. The company had plans to collaborate with pharma companies to develop and commercialize the drug candidates upon its Investigational New Drug (IND)-enabling studies.&nbsp;
 
 
 The company is built on its founder&rsquo;s 20 year expertise in the pharma industry including at GSK Singapore.&nbsp;
 
 
 Key Customers and Partnerships
 
 
 The company&rsquo;s key partners for R&amp;D include research institutes Domainex (since June 2022), evotec, and Pharmaron. In December 2021, the company partnered with medical research institute WEHI to undertake the research for its drug candidate targeting the mPTP to treat ALS.&nbsp;
 
 
 Funding and Financials
 
 
 The company raised USD 16 million in November 2022 via a Series A funding round led by Omega Funds. The new funds were allocated toward advancing the company&rsquo;s pipeline of small-molecule drugs to treat chronic neurodegenerative disorders that affect the central nervous system through IND-enabling studies.
 
 
 
</div>

<div>
 
 GenoMe Diagnostics specializes in developing and providing diagnostic solutions for the early detection and monitoring of cancer. The company uses genomic technologies and bioinformatics to provide diagnostic tools that can improve patient outcomes. The diagnostic tools can also be used as companion diagnostics for patient selection and stratification.&nbsp;
 
 
 The company&rsquo;s lead product is OvaMe, which is a blood test used to detect early-stage ovarian cancer. The company claims it would enhance the accuracy of the current blood test CA125, which is only elevated in approximately 50% of early-stage ovarian cancers.&nbsp;
 
 
 Key customers and partnerships
 
 
 Spun out of Queen&rsquo;s University Belfast, the company collaborates with researchers and clinicians from the university to advance its technology and research.
 
 
 Funding and financials
 
 
 The company raised GBP 1.4 million (USD 1.7 million) in March 2023 via 
 <a href="https://sp-edge.com/updates/16931">
 private and public funding
 </a>
 . The funds were used to develop OvaMe, to support regulatory filings in the UK, US, and the EU, and to increase its human resources. 
 
</div>

<div>
 
 ThirtyFiveBio is a biotechnology company that is focused on developing first-in-class small molecule inhibitors of G protein-coupled receptor 35 (GPR35) for the treatment of gastrointestinal (GI) diseases. The company claims it has built its drug discovery platform in less than two years and leveraged it to identify potential GPR35 inhibitor targets.&nbsp;
 
 
 In March 2023, the company presented data from its first-in-class small molecule inhibitors of the GPR35 antagonist program at the American Association for Cancer Research Annual Meeting 2023. The company's focus on GPR35 inhibition is based on preclinical data, which demonstrates that hyperactive genetic mutations within GPR35 contribute to a range of GI disease processes, including inflammatory bowel disease and GI cancers.
 
 
 Funding and Financials
 
 
 In March 2023, the company emerged from 
 <a href="https://sp-edge.com/updates/17473">
 stealth
 </a>
 and stated it had raised USD 20 million in a seed funding round since its inception in 2021 by M:M Bio, in partnership with Canaan Partners.&nbsp;
 
</div>

Empowering sustainable food innovation through food engineering tech

Novel Foods

<div>
 
 Headquartered in the UK, Beta Bugs is an insect genetics company that develops and distributes black soldier fly breeds to insect farmers. The company uses a combination of biotechniques and genetic breeding programmes to create breeds of black soldier fly optimized for industrial needs. Beta Bugs has established the UK's first program for selective breeding and an egg production facility for the black soldier fly, which serves as an alternative protein source in aquaculture, pork, and poultry feed, with the flexibility of being reared on diverse waste streams, including agricultural and food waste.
 
 
 Beta Bugs cater to three main segments; operators who want improved genetics, operators who solely desire eggs, and new market entrants wanting to get up and running. All its products are supplied in the form of eggs from The Multiplier&trade;, the company&rsquo;s dedicated multiplication and egg production center. Its product range includes Hiper-Fly (its elite black soldier fly product), Just fly (its standard black soldier fly product), Just fly starter pack (kit is designed for novices who have a keen interest in insect farming), and Beta Frass (sustainable fertilizer).
 
 
 Key customers and partnerships
 
 
 Beta Bugs was backed by Deep Science Ventures in 2017, followed by additional investments from seasoned agri-food entrepreneurs in 2020 and 2021. The company has also received funding from sources like InnovateUK, the H2020 EIC Accelerator, and the Scottish Government&rsquo;s Unlocking Ambition program.
 
 
 Beta Bugs is part of the 
 <a href="https://agri-epicentre.com/agritech/beta-bugs-takes-flight-with-agri-epi-centre-support/">
 Agri-EPI Centre
 </a>
 , which has delivered collaboration, funding, and access to new market opportunities for Beta Bugs.&nbsp;
 
 
 Funding and financials
 
 
 In its latest funding round in 
 <a href="https://www.betabugs.uk/beta-bugs-secures-1-72m-to-scale-up-sustainable-insect-farming/">
 October 2023
 </a>
 , Beta Bug secured GBP 1.72 million (~USD 2.1 million) in a venture round led by The Tricapital Syndicate LLP. The funding was to be used to scale up production and for the sale and supply of its black soldier fly eggs and larvae to insect farmers.
 
 
 
</div>

Founded in 2022, Clean Food Group is a UK-based Food Tech company developing sustainable oils and fats solutions for the food and cosmetics industries. Using a proprietary technology platform developed over eight years of research, Clean Food Group leverages scalable yeast strains and fermentation technology. The company expects to validate its technology and build a commercial-scale manufacturing facility in 2024.Funding and financialsIn <a href="https://sp-edge.com/updates/27997">March 2024</a>, Clean Food Group secured GBP 2.5 million (~USD 3.16 million) from the Clean Growth Fund to accelerate the commercial launch of its non-GMO yeast-based palm oil alternative by 2025.&nbsp;In <a href="https://sp-edge.com/updates/24669">December 2023</a>, the company was awarded GBP 1 million (~USD 1.3 million) funding from the UK Government's Novel Low-Emission Food Production Systems: Industrial Research Grant. The funding was to help the company expand its manufacturing capabilities and develop microbial oils in collaboration with the University of Bath. Further, in August 2023, the company raised GBP 2.3 million (~USD 2.9 million) in a 'pre-Series A' funding round for the development of its sustainable oils and fats technology. The capital raised was intended to accelerate the scale-up of the company's technology platform and advance regulatory and commercial pathways.

Nukoko is a UK-based company that produces 100% cocoa-free chocolate peanuts made from locally sourced fava beans using a biotransformation and precision fermentation process. It also uses a microbial library of cocoa flavors to match chocolate in terms of flavor, thickness, and texture.As of October 2023, the company had opened a limited product launch and sold out the first batch of cocoa-free chocolate nuts, with a full launch planned for 2024. The company claims to produce 90% less carbon emission per kg than conventional chocolate.&nbsp;Key customers and partnershipsIn 2023, Nukoko secured a development agreement with Swiss retailer Coop Group.Funding and financialsIn <a href="https://sp-edge.com/updates/27836">March 2024</a>, Nukoko raised USD 1.5 million in seed funding led by Oyster Bay Venture Capital, with participation from SOSV and The Mills Fabrica, along with a grant from Innovate UK to advance its technology to manufacture cocoa-free chocolate from fava beans. In April 2023, the comapany secured GBP 525,000 (~USD 637,500) in a pre-seed round from IndieBio to support product development.&nbsp;&nbsp;

RNA Therapeutics

<div>
 
 PepGen empowers nucleic acid therapeutics to go the distance. PepGen's ambition is to unlock the potential of nucleic acid therapeutics by leveraging the drug delivery capabilities of their innovative product engine. PepGen's initial focus is on the application of this technology to the efficacious delivery of antisense oligonucleotides, and they are advancing novel conjugate therapeutics to the clinic.
 
</div>

<div>
 
 Evox Therapeutics is a privately held, Oxford-based biotechnology company focused on harnessing and engineering the natural delivery capabilities of extracellular vesicles, known as exosomes, to develop an entirely new class of therapeutics. Backed by leading Life Sciences Venture Capital groups and supported by a comprehensive intellectual property portfolio, Evox&rsquo;s mission is to positively impact human health by creating novel exosome-based therapeutics for the treatment of various severe diseases with limited options for patients and their families. Evox has created substantial proprietary technology to modify exosomes using various molecular engineering, drug loading, and targeting strategies to facilitate targeted drug delivery to organs of interest, including the brain and the central nervous system. Exosome-based drugs have the potential to address some of the limitations of protein, antibody and nucleic acid-based therapies by enabling delivery to cells and tissues that are currently out of reach using other drug delivery technologies. Evox is leading the development within this emerging therapeutic space.
 
</div>

<div>
 
 VaxEquity is a biotechnology company that develops RNA therapeutics and vaccines. It utilizes saRNA to provide greatly enhanced protein expression, combining better tolerability with slower release and thermostability.
 
</div>

Automation and robotics are finally creating solutions for the complexities of doorstep deliveries.

Last-mile Delivery Automation

Oxa <a href="https://sp-edge.com/updates/18936">(formerly Oxbotica) </a>is a UK-based developer of autonomous vehicle software using computer vision and machine learning technologies. Its product portfolio includes “Oxa Driver,” a full-stack autonomy system that can be integrated into any sensor, vehicle, or platform; “Oxa Hub,” which connects autonomous vehicles with customers’ existing fleet management platforms; and “Oxa MetaDriver,” a system to synthesize simulated scenarios and validate customer environments. The company pitches its software to multiple B2B applications including shared passenger transportation, cargo transportation, energy, and mining.Key customers and partnershipsOxa has product partnerships with companies including 1) AppliedEV, a modular vehicle solutions provider, to retrofit Oxa’s software into AppliedEV’s electric vehicle modular platform <a href="https://sp-edge.com/updates/5351">(September 2021);</a> 2) <a href="https://sp-edge.com/companies/788807">Goggo Network</a> to retrofit Oxa’s autonomous driving software into Goggo Network’s ADVs <a href="https://sp-edge.com/updates/17297">(March 2023);</a> and 3) Google Cloud to scale up autonomous software deployment <a href="https://sp-edge.com/updates/17346">(March 2023).</a>Funding and financials<a href="https://sp-edge.com/updates/15599">In January 2023, </a>Oxa raised USD 140 million in a Series C funding round to accelerate commercial deployments. The company also received an undisclosed amount of funds from Google <a href="https://sp-edge.com/updates/22506">in October 2023, </a>as a part of its Series C round.

UK-based Skyfarer develops drones primarily for applications such as inspection and surveillance, mapping, and emergency response. The company is also trialing drone-based medical deliveries. Its drones can deliver organs, medical samples, blood pharmaceuticals, vaccines, and aseptic equipment.&nbsp;Key customers and partnershipsSkyfarer was engaged in the drone-based delivery space by 1) leading a consortium to build a medical drone delivery network in Midlands, UK (July 2020); 2) leading another consortium to create a medical drone delivery network in the UK (March 2021); 3) partnering with National Health Services (NHS) to begin trial medical supply deliveries in Warwickshire, UK (September 2020); 4) joining a consortium to trial medical deliveries in Coventry, UK (May 2021); and 5) partnering with Medical Logistics UK to trail drone-based deliveries between hospitals in Warwickshire and the UK (October 2022; trial completed in December 2023).

More important now than ever, telehealth will long outlast the pandemic that drove its growth.

Telehealth

<div>
 
 Current Health is a B2B remote patient monitoring platform, offering at-home health care services. The company provides patients with a pre-configured home kit that includes its own US Food and Drug Administration (FDA) cleared biosensor, OmniVitals, to record patient vitals. The company claims the wearable device can monitor vitals with the same accuracy as an ICU monitor. The information is available for review by doctors via the platform and if any abnormalities are detected, Current Health&rsquo;s 24/7 triage team will determine the appropriate steps to be taken which could include a telehealth visit with the patient&rsquo;s doctor. 
 
 
 In addition, Current Health offers hospital-at-home programs to manage high-risk patients by incorporating remote monitoring, AI-based smart alerts, and integrated telemedicine to avoid hospitalization. Once the patient recovers, the at-home kit is collected from the patient, recycled, and delivered back to the hospital. The company also launched a range of in-home services in August 2021 together with Workpath for blood draws and ScriptDrop for medication delivery. Current Health plans to collaborate with other startups to expand its offering to include services such as transportation and in-home infusion therapy.&nbsp;
 
 
 Founded in 2015, Current Health specializes in pre and post-surgery, chronic conditions, oncology, and Covid-19. Current Health&rsquo;s key customers include leading health systems and pharmaceutical companies, such as Mayo Clinic, Mount Sinai, National Health Service, Baptist Health, AstraZeneca, Geisinger, Massachusetts General Hospital, and Amgen. The platform has partnered with medical device manufacturers Dexcom, VivaLNK, MIR, and Omran to deploy in specific clinical areas. 
 
 
 The company concluded an oversubscribed Series B funding round in April 2021, which will be used to expand its geographic footprint across the globe. In October 2021, global consumer electronics retailer Best Buy announced its plans to acquire Current Health. It plans to combine Current Health's portfolio of services with its existing products and services, offering a holistic approach to senior care delivery. Following the acquisition, Boston and UK-based Current Health will benefit from access to Best Buy&rsquo;s sizable physical footprint, tech support, and logistics.
 
</div>

<div>
 
 AccuRx is a telehealth platform that enables patients to communicate with general physicians via text and video consultations. The company also provides other tools such as patient triage, questionnaires on symptoms, digital documents, and Covid-19 vaccine booking. The platform has facilitated more than 40 million patients for more than 7,000 general practices, as of September 2021.
 
</div>

Generating, collecting, and analyzing enterprise data will never be the same.

Edge Computing

IOTech provides open and vendor-neutral software platforms and tools to build, deploy, and manage IoT edge applications. The platforms cater to multiple industries, including building and industrial automation, oil and gas, smart energy, and retail, among others. IOTech is part of Linux’s EdgeX Foundry (vendor-neutral open source IoT project) to further its goal of building a common framework for the edge. The company is also backed by Dell Technologies Capital.In June 2020, the company launched “Edge XRT” (which was announced in 2019), primarily to simplify the development of time-critical IoT systems at the edge. Furthermore, in December 2020, it partnered with the leading security company, RSA, to enhance its platform’s security monitoring.In February 2021, IOTech released its “Edge Xpert” platform, to deliver IoT edge capabilities which mainly rely on vision related data, such as those from camera devices. It enables software models which rely on object detection, classification, and recognition. Accordingly, the platform caters to a range of industries, including retail, manufacturing, transportation, and venue management.<a href="https://sp-edge.com/updates/23900">In November 2023,</a> the company introduced “Edge Central,” an open data platform, which is designed as a one-stop-shop solution, to help businesses utilize their edge data without running the risk of vendor lock-in. Key functionalities of Edge Central include connectivity and control with devices and sensors at the edge, innate data processing, data flow to and from diverse cloud systems, and a modular, open architecture. Moreover, it is flexible and can operate on any device, including IoT gateways, industrial PCs, or edge servers.Key customers and partnershipsThe company expanded its partnership with Google Cloud to offer both IOTech’s platforms for Google Cloud’s enterprise customers in November 2021. Users will be able to use IOTech’s platforms to deploy smart, no-code, and integrated edge-cloud solutions to extract and process data from a range of OT devices.In recent years, IOTech has formed several partnerships to drive innovation. In January 2024, the company partnered with SHIFT Energy to focus on enhancing energy efficiency in building heating and cooling systems and partnered with Advantech in September 2023 to provide advanced edge data processing solutions for smart manufacturing and industrial automation. Additionally, in January2023, IOTech collaborated with LATERAL.systems to accelerate innovation in the emerging smart farming markets.Funding and financialsIn August 2023, IOTech <a href="https://sp-edge.com/updates/21366">raised an undisclosed amount of growth funding</a> in a round led by Dell Technologies Capital. Along with the funding, the company announced its expansion in the North American market. Accordingly, the funds were earmarked for investments in accelerating product development and supporting go-to-market activities in the region.

Ori Industries is a UK-based technology company offers a platform for developers to deploy edge applications across multi-cloud, telco edge, and enterprise edge environments.&nbsp;Ori allows developers and enterprises to deploy containerized workloads closer to users by applying intelligent management and orchestration technologies. The platform caters to several industries, including healthcare, gaming, manufacturing, telcos, and retail, through multiple use cases including predictive maintenance, smart manufacturing, smart cities, and mobile gaming.&nbsp;In December 2022, Ori acquired Multy, an open-source provider allowing developers to build infrastructure configurations that can be instantly replicated across any cloud.Key customers and partnershipsThrough its offering for telcos, the company claims to facilitate next-gen capabilities by delivering immersive applications 50x faster than traditional networks. In October 2021, the company enhanced its offering by partnering with VMware, a cloud computing company owned by Dell. The solution enables telcos and communication service providers (CSPs) to offer multi-access edge computing (MEC) capabilities to better monetize their 5G offering. Prior to that, Ori partnered with Altran in April 2020, to launch federated MEC solutions to enable service providers to offer developers the same 5G services across regions and carriers.&nbsp;In February 2020, Ori partnered with EdgeConnex to extend its global cloud footprint in Europe, where Ori deployed its global edge platform at three EdgeConneX Edge Data Centers in Amsterdam, Munich, and Warsaw.Funding and financialsIn January 2021, Ori raised USD in 10 million a Series A funding round. The round saw participation from Silicon Roundabout Ventures, Episode 1, Capital Lab Ventures, Clay Point Investors, and others.

New data privacy regulations have opened up space for a new wave of compliance-focused startups.

Digital Privacy Tools

<div>
 
 Cufflink offers a platform that allows consumers to store personal data and control how it is shared. The company’s mobile app also allows users to share personal information with other individuals and companies while controlling how much and what gets shared. All personal data is stored within the customers’ devices, with encrypted cloud storage available as an option for users. Cufflink also offers a Software-as-a-Service (SaaS) solution enabling organizations to use consumers’ personal data without storing any of it themselves, effectively outsourcing the storage of personal data and reducing the risk of data breaches. This also results in compliance with privacy regulations such as GDPR and CCPA. As of February 2021, the mobile app was currently in the beta testing phase, and the SaaS offering is still under development. Cufflink’s mobile app is offered free of charge, while its SaaS offering is subject to a cost.
 
 
 
 
 In February 2021, Cufflink raised GBP 500,000 (approximately USD 690,000) in funding, led by the Development Bank of Wales and a group of London-based angel investors. The company has also secured a grant from Innovate UK.
 
</div>

<div>
 
 UK-based Glimpse Protocol provides a secure platform for advertisers to serve targeted advertisements to users without having to rely on third-party cookies. The platform—founded by former British Army technical intelligence and cyber warfare professionals—allows businesses to handle their users’ personal data in compliance with privacy regulations including GDPR. Glimpse Protocol uses a combination of edge processing and cryptographic methods to ensure the non-traceability of consumer data.
 
 
 
 
 The company raised EUR 1.4 million (USD 1.7 million) in seed funding in January 2021 to grow its engineering team and iterate on its successful 2020 pilot programs.
 
</div>

Making meat sustainable over the long term.

Cell-cultured Meat

Multus, a spin-off of SOSV’s IndieBio program, is a biotechnology company that specializes in the development of growth media solutions for cellular agriculture applications. Its portfolio includes serum-free FBS alternatives (Proliferum M and Proliferum LSR) and solutions that support cell adhesion (rh-Vitronectin) during the cultivation process.Multus leverages MediOp, a growth media formulation design platform, to develop its solutions. According to the company, this technology allows optimizing solutions using automated data analysis and insights. Multus also uses this platform to provide contract manufacturing services for custom formulation design and food-safe manufacturing compliant with ISO22000 to customers in North America, Europe, and Asia-Pacific.In <a href="https://sp-edge.com/updates/25572">January 2024</a>, the company unveiled what it claims to be the first large-scale production plant making serum-free growth media in the cultivated meat industry.Key customers and partnershipsIn <a href="https://sp-edge.com/updates/24911">December 2023</a>, the company partnered with New Wave Biotech, a bioprocess optimization software company, under a project funded through an Innovate UK Engineering Biology grant. Through this partnership, Multus planned to use New Wave Biotech’s AI software to optimize its process of developing precision-fermented ingredients for cell cultivation.Funding and financialsIn <a href="https://sp-edge.com/updates/15702">January 2023</a>, the company raised GBP 7.9 million (~USD 9.6 million) in a funding round led by Mandi Ventures with participation from SOSV, Big Idea Ventures, and others. The funding from this round was earmarked for the development of its animal-free growth media production facility in London.

Bio-Sustainable Future (BSF) Enterprise is a British company that adopts an acquisition-led growth strategy in the cell-based tissue engineering sector. In <a href="https://sp-edge.com/updates/10590">May 2022</a>, the company successfully completed a reverse takeover of 3D Bio-Tissues Ltd. (3DBT), a Newcastle University spin-off, for GBP 1.25 million (~USD 1.56 million).As a wholly-owned subsidiary of BSF, 3DBT develops a patented animal-free cell growth agent (serum-free media), City-mix. This patent-protected IP can be used to culture skin, muscle, and fat cells, which it uses to develop lab-grown meat and also supplies it to other cultivated meat producers.In <a href="https://sp-edge.com/updates/16095">February 2023</a>, the company announced it has produced what it claims is the world’s first 100% cultivated pork steak filet made solely with pig cells without using any plant-based scaffolds, blends, or fillers. In <a href="https://sp-edge.com/updates/21734">September 2023</a>, 3DBT expanded internationally with a new office in Hong Kong, aiming to introduce its flagship cell-boosting media supplement, City-Mix, to the Chinese cultivated meat market.Key customers and partnershipsIn <a href="https://sp-edge.com/updates/14869">November 2022</a>, the company partnered with growth medium company Qkine, to expedite the development of cost-effective lab grown meat. Further, in <a href="https://sp-edge.com/updates/24765">December 2023</a>, BSF partnered with CellRev to form the joint venture (JV), Cultivated Meat Technologies Limited. The JV planned to leverage the 3DBT’s City-Mix and CellRev’s cell processing platform to scale up the production of cultivated meat.In <a href="https://sp-edge.com/updates/27450">March 2024</a>, the BSF partnered with Ivy Farm Technologies, a cultivated meat company, to help the latter with fundraising, production, and broadening of cell-based meat in China.Funding and financialsIn July 2019, BSF went public on the London Stock Exchange (LSE) after a GBP 1.75 million (~USD 2.18) placement at 7.37p a share.In <a href="https://sp-edge.com/updates/21875">September 2023</a>, 3D Bio Tissue (3DBT), BioBetter, and LenioBio received a total of EUR 1.8 million (~USD 1.9 million) for winning EIT Food and the Good Food Institute (GFI) Europe's Cultivated Meat Innovation Challenge. The funding was earmarked for research efforts to create cost-effective cell-cultured meat for cultivated meat production, with a focus on enhancing cell growth and yields.

Reinforcing recycling, rerouting refuse, and reducing wasteflows

Waste Recovery & Management Tech

British company Provenance is a&nbsp; blockchain-based company offering a software solution that helps businesses provide consumers with transparency within their supply chain. The company provides its services under five areas such as climate, waste, nature, workers, and communities. Under the waste segment, Provenance provides software solutions and a platform that allows companies to maintain a set of standards in conducting operations and in packaging goods. In addition, the company also provides recycling solutions to businesses in the packaging sector.As of March 2022, the company's platform was operational in 18 markets worldwide, including Europe, North America and Asia Pacific, serving clients such as Cult Beauty, Douglas, GANNI, Napolina, Arla and Unilever.&nbsp;Key customer and partnershipsI<a href="https://sp-edge.com/updates/7262">n December 2021</a>, Provenance partnered with Valpak, an environmental consultancy provider, and Waste and Resources Action Program (WRAP), a British recycling charity, to launch a tool called “Recycle Router” to help consumers find out ways and places to recycle specific types of packaging by entering the postcode. In June 2022, the company partnered with its first US retail partner, Beauty Heroes. To expand in Europe, the company partnered with Douglas, the European e-commerce platform for beauty and health, in August 2022. In September 2023, the company partnered with Dotdigital, a marketing automation platform, to jointly support brands in communicating their sustainability efforts.Funding and financialsIn March 2022, Provenance raised USD 5 million led by Working Capital Innovation Fund and Nordic Eye to develop its software product development and supercharge the brand and its shopper reach.

<div>
 
 Recyclus (a subsidiary of Technology Minerals) is a UK-based end-to-end recycler of batteries. In addition to recycling lithium-ion batteries for black mass and lead acid batteries for its materials, Recyclus also develops the LiBox, a solution for the safe storage and transportation of lithium-ion batteries. The LiBox is a pallet-sized, steel-fabricated box layered with Lithium Battery Fire Protection Pillows. The box is UN-certified, ADR-compliant, and has a 20 kWh power rating. Also, it claims to be capable of containing thermal conditions of up to 2,000 degrees of Celsius.&nbsp;
 
 
 
 
 Recyclus aims to support electrification in the UK by establishing a stable supply of key battery materials by recycling batteries into their constituent parts. The company claims it is the first UK company to recycle Li-ion and lead-acid batteries on an industrial scale.
 
 
 
 
 In January 2022, the company opened its first plant to recycle lead-acid batteries in Tipton, West Midlands. The plant was estimated to have a recycling capacity of 16,000 tonnes in the first year of production, projected to scale up to 80,000 tonnes by 2027. In July 2023, Recyclus established its first lithium-ion recycling plant in Wolverhampton, West Midlands, which is reported to be licensed to recycle up to 22,000 of lithium-ion cells per year.
 
 
 
 
 Key customers and partnerships
 
 
 
 
 In December 2021, the company collaborated with the University of Warwick (WMG) to create an Engineering Doctorate program focusing on addressing the development of the UK capability to safely recycle lithium-ion batteries to &ldquo;black mass&rdquo; and look upon the contemporary industrial and technical challenges across the sector. In March 2023, Recyclus partnered with the University of Birmingham (UOB) to create a mobile battery recycling system that is capable of safely handling any type of lithium-ion battery. The company expects to build a compact prototype mobile recycling truck that will come in three size options ranging from 7.5 to 16 tonnes and can process between 500 and 2,000 kg of lithium-ion batteries per hour. In 
 <a href="https://sp-edge.com/updates/26808">
 February 2024
 </a>
 , the company partnered with Servicesure Autocentres to recycle used EV batteries.
 
 
 
 
 Funding and financials
 
 
 
 
 In March 2023, Recyclus Group secured GBP 1.96 million (~USD 2.5 million) from Innovate UK to create a mobile battery recycling system in partnership with the University of Birmingham.
 
 
 
</div>

Tech solutions for achieving global anti-wastage targets

Food Waste

<div>
 
 Based in the UK, Better Origin focuses on upcycling food waste into animal feed. The company offers AI-powered insect mini-farm units that are designed to collect local food waste from supermarkets. The units recreate the conditions found in nature where food waste turn into insects such black soldier fly larvae. The process takes  7-14 days to grow larvae depending on the type of feed required, with the conversion process being monitored using cameras, sensors, and AI. All features combine to inspect the insects’ health as they become fit to be fed to the farm’s animals. Better Origin has launched one version of its plug-and-play container farm—called the X1—which can produce feed in 1 sqm space that is equivalent to feed produced on 1,500 sqm of soy plantations.
 
 
 
 
 The company offers its farm on a subscription basis. The subscription fee depends on the size of the system, the size of the farm, and the type of waste used. Having commercially launched its business in 2020, by early 2021, the company has five X1 mini-farms in operation and also reported that it has signed a deal with Morrisons UK to supply 10 X1 mini-farms to feed chickens at the latter’s egg farms by September 2022. Upon success, the plan is to deploy the X1 at all 60 of Morrisons’ farms.
 
 
 While currently focused in the UK, Better Origin is also looking to expand internationally with an aim to enter Europe this year. In addition, the company plans to expand its focus beyond poultry to serve other new livestock areas and potentially produce upcycled human food.
 
 
 In April 2022, Better Origin raised over EUR 14.6 million (~USD 16 million) in a 
 <a href="https://sp-edge.com/updates/9656">
 Series A
 </a>
 funding round led by Balderton Capital.
 
 
 
</div>

<div>
 
 UK-based Mimica develops the temperature-sensitive Mimica Touch indicator cap and labels to measure food freshness and predict when spoilage by measuring bumps on the surface of the product. The company claims that its technology extends the shelf-life of foods and reduces waste. 
 
 Mimica Touch is expected to be used on juices, milk bottles, and packaged meats. Since 2018, Mimica Touch has been used on a trial basis by the Danish dairy company Arla. As of April 2020, Arla was in the final phases of testing its product.
 
</div>

Technologies bringing about a new reality

Extended Reality

UK-based FitXR is a developer of VR- and AR-based fitness apps. The company’s first game BoxVR, available on platforms such as Meta Quest, Steam, and PlayStationVR, is a fitness-focused rhythm boxing game designed to achieve fitness goals. The platform also provides full-body daily workout routines curated by fitness experts in five distinctive categories - boxing, dancing, high-intensity interval training (HIIT), body sculpting and combat-inspired workouts. The latter two categories were added in January 2023, with the Sculpt studio focused on body conditioning while the Combat studio emphasized workouts which utilized different streams of martial arts.The company claims to have developed the first ever virtual fitness club and also has a multiplayer feature that allows competing with other Meta Quest players. In March 2023, FitXR added a new pop music collection under its workout studios, and made its fitness content available for the Pico 4 and Pico Neo 3 VR headsets. In November 2023, the company added a Zumba Studio to its VR workouts, available on Quest heads. Furthermore, in <a href="https://sp-edge.com/updates/24822">December 2023</a>, the company launched its mixed reality gaming studio titled “Slam”, featuring proprietary algorithms that transform a room into a 3D game, utilizing floors, walls, and ceilings for interactive fitness.FitXR operates a subscription-based model charging USD 13 per month.In 2023, the company surpassed 1,000 classes available on its platform, with users having collectively spent 33.5 million minutes working out on the platform.Key customers and partnershipsFitXR’s partnerships include that with Zumba in October 2023 to offer immersive Zumba classes with new instructors, a new environment and improved avatar models.Other partnerships include that with subscription platform for connected fitness, Strava (March 2023, to provide FitXR members with additional insights of their fitness journey through shared data), influencers Katie Sturino and Hannah Bronfman (January 2023, to launch its Sculpt Studio).Previous partnerships include that with professional differently-abled athlete Zion Clark, who was to create a series of workouts to promote fitness inclusivity and Dr. Brendon Stubbs, Ph.D., a leading exercise researcher, to contribute to product development and innovation.

FourPlus, a UK-based company, specializes in immersive technology applications within the life sciences sector. This includes VR experiences for workforce management, 3D asset visualization for marketing and training, facility visualization, laboratory training for bioscience students, and data visualization.The company offers VR training for Good Manufacturing Practice (GMP) operators, allowing trainees to learn protocols in a virtual environment modeled after a real manufacturing facility. The VR tools are designed to aid in recruitment, selection, and motivation of the workforce and can be customized or used off the shelf. They provide training modules to build competency and understanding of risks and are suitable for staff or trainees at any level.Additionally, the company has developed Proteus, a VR software designed to support recruitment, engagement, and outreach for companies and educational institutions. Proteus introduces students to advanced therapies manufacturing, linking biology lessons with roles in the life science sector. It can be used at recruitment fairs or in classrooms as an immersive educational experience.Funding and financialsIn <a href="https://sp-edge.com/updates/19965">July 2023</a>, FourPlus raised GBP 1 million (~USD 1.3 million) in funding from Innovate UK. The funding was to be used to create a mixed reality training platform with multiplayer capabilities for the pharmaceutical and healthcare sectors. Specifically, the platform would provide training for individuals in manufacturing roles within cell and gene therapy and in biopharmaceutical and broader life sciences sectors.

Information to create a more efficient, cleaner and safer way to travel in the city of the future

Smart Mobility Information

<div>
 
 Based in the UK, where its manufacturing center is located, Vivacity Labs uses proprietary AI sensors that gather anonymous visual real-time data on road networks and cycle lanes, which is then coupled with machine learning to provide insights on traffic signal management and transport and city planning. Vivacity&rsquo;s video analytics platform applies trained algorithms and provides users with tools for live traffic monitoring and insights on cycle, pedestrian, and road usage. The firm also provides a smart junction control to autonomously control traffic signals in response to changing conditions. 
 
 
 The firm has a strong focus on privacy and in keeping citizens' data safe, where its systems are fully compliant with GDPR. Vivacity uses edge technologies to process all data collected from its sensors locally, anonymizes all data feeds, and discards all video footage. The firm claims that none of its clients can use its technologies to gather any kind of personal data or for enforcement purposes. Reflecting this, in May 2020, Vivacity was awarded a grant by Innovate UK for its work in support of monitoring anonymous social distancing via camera feeds across 16 towns and cities in the UK. 
 
 
 Key customers and partnerships
 
 
 
 The firm partners with national and regional government bodies and local councils in the UK, including the Department for Transport, Transport for London, Hertfordshire, Greater Manchester, and Oxfordshire. The firm's data can also be applied to private enterprises in a variety of use cases including at airports, sports arenas, railway stations, and retail malls for footfall and traffic management. 
 
 
 Funding and financials
 
 
 In February 2023, the company raised 
 <a href="https://sp-edge.com/updates/16481?industryIds=66">
 GBP 7 million (~USD 8.4 million)
 </a>
 led by EnBW New Ventures, Foresight Group, and Gresham House, bringing its post-investment valuation to USD 42 million. It planned to use the funds to broaden its suite and expand into North America. The round follows its 
 GBP 5 million (~USD 7 million) Series A round of funding in February 2021 led by Moebius Equity Partners, to drive its international expansion as well as double its headcount by expanding roles across the firm including in research &amp; development (R&amp;D). In line with this, in August 2021, the firm expanded to Australia where it installed its sensors in the City of Port Phillip to measure bike rider, pedestrian, and motor vehicle movements.
 
</div>

<div>
 
 UrbanThings is a UK-based MaaS company that provides solutions for commuters, transport operators, and businesses. It offers three main products:
 
 
 Bus Checker: 
 The largest independent bus times app in the UK, which enables passengers to plan their journeys, get real-time information from operators, and book and pay for their tickets. The app supports all major payment methods, such as debit/credit cards, Apple Pay, Google Pay, and PayPal. The operators can register for free and the app charges a commission based on the tickets sold. The app also enables the operators to get insightful monthly reports in their inboxes.&nbsp;
 
 
 UrbanHub for cities and operators:
 A smart transport platform that enables passengers to plan journeys, book and pay for their tickets, receive real-time information, and access GPS solutions and Base, a back-office platform that collects mobility data. It is also offered on a website for customers without smartphones.
 
 
 Urban Hub for workplaces: 
 A smart transport platform that encourages work staff to use shared transport and transform commuting habits toward net zero. Some of the features provided include a branded employee app, the ability to track and book private shuttle bus services, bicycle and scooter e-booking integration, electric vehicle charge point locations and tracking, and reports.
 
 
 In August 2023, UrbanThings added new features to its passenger apps, such as app-wide alerts, the ability to hide disruption messages, quicker access to live departure times, and improvements to its existing vehicle markers.&nbsp;
 
 
 In 2022, UrbanThings was acquired by Paragon ID, a global provider of identification solutions for e-ID, transport, and smart cities.&nbsp;
 
 
 Key partnerships and customers
 
 
 As of September 2023, UrbanThings&rsquo; technology supports over 130 million passenger journeys per year.
 
 
 In November 2023, the company 
 <a href="https://sp-edge.com/updates/24356">
 partnered with Littlepay, 
 </a>
 a transit payments processing specialist, to enable transport operators to offer Card Not Present (CNP) mobile payments in passenger apps, with Littlepay as the payment service provider (PSP).
 
 
 
 
 
 Funding and financials&nbsp;
 
 
 In November 2021, the firm raised USD 777,000 in a seed funding round, followed by a grant from Innovate UK. 
 
</div>

Electrifying passenger and commercial travel

EV Economy

<div>
 
 Ev.energy is a UK-based EV charging software platform. The company has developed a cloud-based, end-to-end platform that optimizes the charging of EVs daily by charging vehicles at optimum times for the grid. The platform provides features such as scheduled charging, charging statistics and insights, zero-cost solar charging, and more to curb EV charging costs.
 
 
 Key customers and partnerships
 
 
 Ev.energy has won over 30 national, regional, and municipal utility contracts and is used by over 100,000 drivers.
 
 
 Notable partnerships of the company include Volkswagen, Siemens, E.ON, AvanGrid, and UK Power Networks, among others.
 
 
 Funding and financials
 
 
 Ev.energy&rsquo;s latest funding was in&nbsp;
 <a href="https://sp-edge.com/updates/20512">
 July 2023
 </a>
 , when it raised USD 33 million in a Series B funding round led by National Grid Partners with participation from Aviva Ventures, WEX Venture Capital, InMotion Ventures, and others. The funds were to be used for global expansion efforts and continued growth initiatives across the UK and North America.
 
 
 
</div>

Addionics, a British next-gen battery-tech company, develops smart 3D electrodes for EV batteries by optimizing AI-based algorithms. The company states that its tech could improve the cost and performance of any EV battery. The company collaborated with leading automotive OEMs and suppliers in the US and Europe to integrate its technology with lithium-nickel-manganese-cobalt-oxide (NMC), lithium iron phosphate, silicon, lithium polymer battery chemistries, and solid state batteries.In <a href="https://sp-edge.com/updates/27236">February 2024</a>, Addionics reported a planned USD 400 million investment into its US manufacturing facilities to expand domestic EV battery production in the country. The new facilities will produce 3D copper foils to support 90 GWh of battery capacity, annually. The company’s first factory is set to begin production in 2027, with additional plants expected to come online in 2032.Key customers and partnershipsIn June 2022, Addionics <a href="https://sp-edge.com/updates/11083">partnered </a>with Blitz Motors, an Israel based smart electric moped manufacturer, to provide smart 3D electrodes and develop Li-ion batteries. In August 2021, Addionics partnered with the Center of Process Innovation (CPI) and the University of Warwick’s WMG to improve lithium-ion battery cell performance and manufacturing processes. In April 2021, Addionics also partnered with Saint-Gobain Ceramics, a manufacturer of materials for construction, mobility, healthcare, and other industrial segments to develop high-power, high-capacity solid-state batteries for EVs.Funding and financialsIn January 2022, the company raised USD 27 million in Series A funding. The proceeds were to be used to redesign existing battery architecture with Addionics’ Smart 3D Electrodes. The company planned to commercialize its solution by 2024.

Pushing the envelope in MedTech with emerging technologies

Next-gen Medical Devices

<div>
 
 Lightpoint Medical is an early-stage medical device company founded in 2012. The company is developing a breakthrough intraoperative imaging technology called Cerenkov Luminescence Imaging (CLI). CLI has the potential to detect cancer in real-time during surgery, and thereby reduce the likelihood of cancer recurrence and the need for reoperation.
 
</div>

<div>
 
 Oxehealth secures world-first medical device certification for software enabling a digital video camera to remotely detect pulse and breathing rate, with the potential to transform care for elderly and vulnerable people in rooms where staff cannot always be present. 
 
 Measure pulse rate and breathing rate totally contact free, be alerted to risky activities (for example a dementia patient getting out of bed) and review objective data on activity and vital signs to inform care planning.
 
 Oxehealth gives you more time for hands on care.
 
 We are the first company in the world to certify software as a medical device which enables a secure optical sensor to measure vital signs from right across a room. 
 
 Our Digital Care Assistant is paying attention to every room when you can't be there. 
 
 This Software as a Service solution generates the alerts and reports clinicians, caregivers and custodians need, seamlessly slotted into their existing workflow. 
 
 The Digital Care Assistant is helping hundreds of staff in mental health, police, prison care home, acute hospital and home care settings.
 A spin out from Oxford University's Department of Engineering, Oxehealth’s technology can measure pulse & breathing rate and human activity & behaviour using proprietary algorithms which harness deep learning, computer vision and signal processing techniques.
 
 We are growing fast and always on the look out for talented team mates to join us across research, engineering, operations, sales and marketing. Take a look at www.oxehealth.com - we’d love to hear from you.
 
</div>

Novel therapies to reboot cells and organs

Cell & Gene Therapy

<div>
 
 Oxford BioMedica is a cell and gene therapy developer that manufactures and develops therapeutics for the treatment of diseases related to oncology, genetic diseases, immunology, and neurology. In addition to developing its own therapeutics, the company also manufactures therapeutics for third parties. As of August 2023, the company developed and commercialized therapeutics for AstraZeneca and Novaratis. The company is listed on the London Stock Exchange, under the symbol OXB.&nbsp;
 
 
 
 
 As of August 2023, the company had 20 therapeutics it was producing as part of its contract development and manufacturing organization (CDMO) operations. These included therapeutics for Novaratis, Bristol Myers Squibb, Orchard Therapeutics, Beam, Arcellx, Cabaletta Bio, Immatics, and Boehringer Ingelheim. Additionally, the company also had five gene therapeutics in development as of the same date, targeting leukemia, several undisclosed liver indications, and Parkinson&rsquo;s disease. All of its gene therapeutics were in pre-clinical stages, except for its Parkinson&rsquo;s disease treatment candidate, which was in Phase II of clinical trials.&nbsp;
 
 
 
 
 Key customers and partnerships
 
 
 
 
 As a part of its CDMO operations, the company has signed several partnerships over the years. In June 2020, the company had also secured a partnership with non-profit Vaccines Manufacturing and Innovation Centre (VMIC) to manufacture viral vector-based vaccines. Through the partnership, Oxford would receive manufacturing equipment for two new manufacturing suites at Oxford&rsquo;s manufacturing center, which could also be used for other viral vector vaccine candidates.&nbsp;&nbsp;
 
 
 
 
 Prior to this, Oxford BioMedica announced it had signed two deals in February 2022, expanding its existing partnership with biotechnology provider Orchard Therapeutics and securing a new partnership with an Unnamed CAR-T drug developer. Through the agreements, Oxford would provide its platform to Orchard to create high-performing candidate clones while providing non-exclusive rights to its LentiVector program to the unnamed drug developer via a license and supply agreement.&nbsp;
 
 
 
 
 In December 2022, the company partnered with three unnamed US-based biotechnology companies, making its Adeno-associated virus vector-related partnerships to four at the time. Through the partnership, Oxford provided its full platform to support the unnamed company's pre-clinical gene therapy programs.&nbsp;
 
 
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
 
 
 
 
 Funding and financials
 
 
 
 
 The company last raised funds in September 2021, when the Serum Institute of India acquired 3.9% of the company for a consideration of GBP 50 million (USD 68 million). The funds were earmarked to develop a manufacturing facility to produce COVD-19 vaccines.
 
</div>

<div>
 
 UK-based 4D Biomaterials is a biotechnology company that develops and commercializes novel biomaterials that can change shape and properties in response to specific stimuli, such as temperature, light, or pH. 4D Biomaterials&rsquo;s main therapeutics are 4D hydrogels that can be used as scaffolds, carriers, or patches for tissue engineering, drug delivery, or wound healing. 4D Biomaterials&rsquo;s therapeutics are intended to treat diseases such as osteoarthritis, chronic wounds, diabetic ulcers, and corneal injuries.
 
 
 The company has launched several products that are based on its proprietary 4D hydrogel technology. These products include 4Degra, a thermoresponsive hydrogel that can be injected as a liquid and solidifies at body temperature to form a scaffold for cartilage regeneration, 4Deliver, a photoresponsive hydrogel that can be crosslinked by light to form a carrier for controlled drug release, and 4Derm, a pH-responsive hydrogel that can be applied as a patch to accelerate wound healing and reduce scarring.&nbsp;
 
 
 Key customers and partnerships
 
 
 4D Biomaterials partnered with microscale 3D printing systems provider Boston Micro Fabrication (BMF) in December 2021 to develop bioresorbable materials using micro 3D printing. Through the partnership, BMF&rsquo;s innovative projection micro stereolithography technology was combined with 4D Biomaterials&rsquo; 4Degra resin inks to develop solutions to design and biocompatibility issues for medical device manufacturers.&nbsp;
 
 
 Funding and financials
 
 
 4D Biomaterials last raised funds in July 2021, when it secured GBP 1.6 million (~USD 2.0 million) in a seed funding round led by DSW Ventures, along with participation from other venture capital firms. The raised funds were set aside to expand its team and for its development of products through partnerships with medical device companies.
 
 
 
</div>

Automation in clinical diagnostics to improve speed and accuracy in patient diagnosis and treatment.

Clinical Decision Support Systems

<div>
 
 Perspectum delivers&nbsp;cutting-edge&nbsp;digital technologies that help clinicians provide better care for patients with liver disease,&nbsp;diabetes,&nbsp;and cancer.&nbsp;With a strong focus on precision medicine using advanced imaging and genetics, our vision is to empower patients and clinicians through quantitative assessments of health enabling early detection, diagnosis, and targeted treatment.&nbsp;With a diverse team of physicians, biomedical scientists,&nbsp;engineers,&nbsp;and technologists, Perspectum offers a way to manage complex health problems at scale.
 
</div>

<div>
 
 At Kheiron, we are going where only a few have gone before; seeking a new understanding of cancer and how to detect it using artificial intelligence and human insight. We’ve made significant breakthroughs with our breast cancer screening product Mia but this is just the beginning of our journey. Ultimately we want to radically improve the outcomesfor cancer patients by pioneering a new era of, what we call, precision radiology. While this all sounds very serious and it is, we believe in having fun along the way. Karaoke is our favourite sport. We also have an incredible crew from more than twenty different countries and offices in London, Budapest, Amsterdam and San Francisco. Giving every woman a better fighting chance against cancer.
 
</div>

Simplifying the insurance experience for businesses using technology

Commercial InsurTech

<div>
 
 London-based insurtech building the world's first fully digital insurance company for connected and autonomous commercial vehicles
 
</div>

<div>
 
 In a world of global pandemics, financial crashes, natural catastrophes and increasingly complex business risks, it is essential for Insurers, brokers and corporates to have real-time risk insight and mitigation. The Intelligent Risk Management Platform provides actionable insight to protect your business.
 
 
 Our AI Risk Report Analyser automatically turns unstructured risk reports into real-time dashboards to accelerate risk mitigations programmes for corporate clients and lower claims for brokers and Insurers. Analyse lengthy risk reports in seconds to deliver unparalleled risk insight.
 
 
 Whilst 5% of the larger sites will often have a detailed Risk Survey, Insurers and their clients are often blind to the risks across 95% of sites. Intelligent AI have developed Digital Twin of risk, based on 300 separate items of risk data, to deliver intelligent risk profiles of 100% of your portfolio.
 
 
 The SurveyRisk service from Intelligent AI enables Insurers, brokers and corporate customers to easily undertake regular short online surveys of a wide range of sites, in order to both gather risk data and to aid in training on risk reduction. SurveyRisk has been designed to maximise completion rates.
 
</div>

Targeting complex diseases with complex molecules

Large-molecule Therapeutics

<div>
 
 DJS Antibodies is developing novel therapeutics to treat chronic inflammatory diseases. DJS does this through the discovery and development of novel therapeutic monoclonal antibodies against GPCRs. The company's breakthrough technology enables its to produce first-in-class antibody therapeutics to previously intractable disease targets.
 
</div>

<div>
 
 LabGenius is a biopharmaceutical company developing protein therapeutics using a machine learning-driven evolution engine. Its protein engineering platform integrates several bleeding-edge technologies from the fields of machine learning, synthetic biology, and robotics.
 
</div>

Using real-time data to create dynamic virtual representations of the real world

Digital Twin

<div>
 
 Dexory, formerly known as BotsAndUs, is a London-based company that offers robotics and data intelligence solutions for the logistics industry. The company leverages technologies like digital twins to offer autonomous robots that can navigate warehouses, measure goods, track inventory, and locate items without disrupting workflows. Additionally, Dexory offers a 
 <a href="https://sp-edge.com/updates/16113">
 supporting robot
 </a>
 that autonomously scans warehouses using 3D cameras and sensors, which it claims is the tallest to date (12 meters).
 
 
 The company's warehouse 
 <a href="https://sp-edge.com/updates/16113">
 digital twin platform
 </a>
 , DexoryView, seamlessly integrates real-time data, offering intuitive insights and enabling businesses to reduce costs, save time, and enhance operational efficiency. Key tasks performed by its solutions include occupancy analysis, gap analysis, and stock taking.
 
 
 Key Customers and Partnerships
 
 
 Dexory serves a diverse customer base that includes organizations such as Maersk, Menzies Aviation, Huboo, and Denso.&nbsp;
 
 
 &nbsp;
 Funding and Financials
 
 
 <a href="https://sp-edge.com/updates/19733">
 In June 2023
 </a>
 , the company raised USD 19 million in a Series A funding round led by Atomico, a European venture capital firm. The funds were earmarked for scaling its platform into new geographic markets, including the US, Germany, and the Netherlands.
 
</div>

<div>
 
 Sensat is a UK-based maintenance and monitoring company focused on supporting physical infrastructure companies map and visualize projects by combining data inputs from multiple sources.
 
 
 The company&rsquo;s proprietary platform enables project managers to remotely monitor progress in real-time, along with being able to visualize progress vs building plans. The platform makes collaboration between stakeholders simpler and maintains a project overview for reference. Customers can also opt-in for additional platform modules that monitor sites using drone technology (Sensat Continuous) and that can scan sites to ensure the accuracy of recorded data such as site plans (Sensat Certified).
 
 
 From an industry perspective, Sensat&rsquo;s clients include railways, highways, real estate, and the energy sector.&nbsp;
 
 
 Key Customers and Partnerships
 
 
 As of November 2022, the company&rsquo;s client base includes British Land, the National Grid, Heathrow Airport, and Network Rail.
 
 
 Funding and Financials
 
 
 The company raised USD 20.5 million in Series B funding in October 2022, led by National Grid Partners. The proceeds are to be used for geographic expansion into new markets and product development focused on automation.
 
</div>

Reinventing how computers think based on biological neural networks

Neuromorphic Computing

<div>
 
 We provide next-generation computer vision and neuromorphic AI to increase efficiency, lower costs and improve sustainability.
 
</div>

<div>
 
 Intrinsic Semiconductor Technologies is established to develop silicon-oxide-based RRAM technologies. Intrinsic's technology is fully air-stable and inherently CMOS compatible. Intrinsic's core technology can be configured as non-volatile memory, multilevel memory, hardware acceleration for Machine Learning, and neuromorphic devices.
 
</div>

Redefining hospital care with the comfort of home

Hospital-at-Home

<div>
 
 Binx Health is creating new categories of healthcare solutions that deliver on-demand testing to people where they need it most. With its proprietary, desktop, PCR-based point-of-care testing platforms and consumer mobile offerings, the company is redefining &ldquo;convenient care&rdquo; for the modern consumer
 
</div>

<div>
 
 Current Health help healthcare reduces risk &amp; cost by monitoring, managing, and engaging patients at home.
 
</div>

New technologies are opening up mental health services to previously overbooked and underserved populations.

Mental Health Tech

<div>
 
 ieso provides an AI-powered assessment tool and DTx for treating mental health conditions such as depression and anxiety. The platform, offering text-based therapy, is available to nearly 20 million individuals through its network of more than 600 therapists, partnering with healthcare organizations, including the UK National Health Service (NHS) as of November 2021. ieso’s DTx is built on more than 460,000 hours of therapy-related data and has treated over 86,000 individuals. 
 
 
 In November 2021, the company raised GBP 39 million (USD 53 million) in a Series B funding round to develop autonomous text therapy systems and expand its geographic footprint into the US. ieso also plans to seek regulatory approval for its tools across the US and UK, as well as grow its team to 200 by 2022.
 
 
 
 
 
</div>

A new wave of meat, fish, and poultry alternatives are driving this hyper-growth industry into the mainstream.

Plant-based Meat

<div>
 
 Adamo Food is a UK-based food tech company developing plant-based whole-cut meats using proprietary fermentation technology combined with mycelium. According to the company, it uses less than eight all-natural ingredients in its production process. The company planned to pilot launch its Adamo steak and fillets in 2023 at select locations in Europe in collaboration with food influencers, social media gurus, and PR experts.
 
 
 Funding and financials
 
 
 In 
 <a href="https://sp-edge.com/updates/19537">
 June 2023
 </a>
 , raised GBP 1.5 million (~USD 1.9 million) in a mixed funding round, consisting of pre-seed funding from SFC Capital and two grants from Innovate UK. The funding was to be used to develop and scale products, including enhancing the nutritional benefits of mycelium and increasing production to a pilot scale as the company gears up for product launch.
 
</div>

The tools that power remote work are define the next generation of enterprise software.

Remote Work Tools

<div>
 
 Gravity Sketch is a UK-based collaborative 3D design platform. It was one of the earliest design platforms to use VR and it uses gestural interaction as the primary input method to collaboratively sketch 3D designs and communicate ideas in real time. The company’s VR-based 3D design tools are used in a wide range industries such as transportation, industrial design, education, footwear, eyewear, and concept art by brands such as Reebok, Ford, and HP. As of April 2022, 70% of Gravity Sketch’s customers are US based.
 
 
 In its most recent funding round (
 <a href="https://sp-edge.com/updates/9821?industryIds=10">
 April 2022
 </a>
 ), the company raised USD 33 million in Series A funding led by Accel. The round followed a 4x revenue growth in the previous 12 months. The fresh funds were earmarked for platform development, which includes the expansion of LandingPad, a collaborative feature for “non-designer” users to view and provide feedback on the design process. A part of the funding will also be used to expand its sales, customer success, and onboarding teams.
 
</div>

Membership-based, non-insurance healthcare companies helping maintain a steady state of well being.

Preventive Healthcare

<div>
 
 GripAble is a neurological and musculoskeletal (MSK) care management startup operating out of the UK. It offers a digital platform that delivers rehabilitation programs to individuals, consisting of a hand-held sensor and mobile app with gamified training activities as well as data services to support home-based rehabilitation.&nbsp;
 
 
 The firm operates a B2B2C business model and has partnered with nearly 1,000 healthcare providers as well as served more than 8,000 individuals as of April 2022.
 
 
 Funding and Financials
 
 
 Its latest funding round took place in April 2022, where GripAble raised USD 11 million in a Series A funding round co-led by IP Group and Parkwalk. The funds were allocated for the expansion of market presence in the US and Europe as well as the introduction of new features.
 
</div>

The intersection of beauty and technology to deliver hyper-personalized products.

Beauty Tech

<div>
 
 London-based Provenance offers a blockchain-based solution that helps multi-brand consumer goods retailers and beauty brands communicate and independently verify their social and environmental impact claims. Provenance first collects data from beauty companies in support of claims such as &lsquo;Net Zero,&rsquo; &lsquo;Vegan,&rsquo; and &lsquo;Fully Recyclable Packaging.&rsquo; The company then works with ~81 verifiers and over 20 certification bodies &ndash; including B Corp, Soil Association, Leaping Bunny, and GOTS &ndash; to independently confirm these claims on a public blockchain. Beauty companies can subsequently install shopper-facing &lsquo;proof points&rsquo; or badges verifying sustainability claims across brand product pages and platforms.
 
 
 Key customers and partnerships
 
 
 Provenance works with 200+ brands and retailers across industries.&nbsp;
 
 
 Key customer partnerships include multi-brand beauty retailers such as 1) Beauty Heroes, to install over 700 proof points across over 200 products on the retailer&rsquo;s site (May 2022), and 2) Cult Beauty, to install proof points across over 110 brands and over 2,000 products on the retailer&rsquo;s site (November 2019).&nbsp;
 
 
 Provenance also has customer partnerships with beauty brands such as 1) Evolve Organic Beauty, to install proof points across 40 products (October 2023), 2) Pai, to install 300 proof points across 55 products and 4 e-commerce channels (June 2022), 3) Tropic Skincare, to install proof points across over 135 products and data on social and environmental impact with 20,000 brand ambassadors (June 2021), 4) SBTRCT, to install 6 proof points across 40 products, and 5) The Nue Co, to install 7 proof points across 50 products.
 
 
 Funding and financials
 
 
 In March 2022, Provenance raised GBP 4.1 million (~USD 5 million) in a venture round led by Nordic Eye Venture Capital and Working Capital. The funds were used for product development and to broaden customer reach.
 
 
 
</div>

Long-term demographic changes are finally bringing fertility technologies into focus.

Fertility Tech

<div>
 
 Bea Fertility offers an at-home, IntraCervical Insemination (ICI) treatment on a monthly subscription basis. The ICI is intended to be a low cost, at-home, and low-stress alternative to in-vitro fertilization (IVF). A single IVF treatment can cost USD 7,000-12,000 while the ICI monthly subscription amounts to GBP 300 (USD 417) per month. 
 
 
 
 
 The subscription provides ICI devices, ovulation tests, pregnancy tests, and an app to monitor ovulation and fertility. Bea Fertility claims that its ICI can improve the chances of conception by 40% if used for three months, and by up to 60% if used over six months. The company also claims that its service offers the same efficacy levels as Intrauterine insemination (IUI) treatments. 
 
 
 
 
 The UK-based company raised GBP 800,000 (USD 1.1 million) in a pre-seed funding round led by Calm/Storm Ventures in April 2021. The company intends to commercially launch its product to early adopters in Q4 2021. 
 
</div>

Promising research and receding stigma are giving investors cannabis-boom flashbacks.

Psychedelic Medicine

<div>
 
 Canada-based Awakn Life Sciences is building an ecosystem for psychedelic-based treatments and integrating them into the mental healthcare practice. The company has three divisions: 1) helping psychedelic pharmaceutical companies to design clinical trials, 2) administering psychedelic therapies, and 3) providing clinical training to psychiatrists and psychologists on psychedelic-assisted psychotherapies.&nbsp;
 
 
 The company&rsquo;s main focus is on the UK and EU markets. It opened its first ketamine-assisted clinic in Bristol in March 2021. Awakn plans on opening a chain of similar clinics in cities across the UK. It also intends to run clinical research trials on psilocybin and MDMA.&nbsp;
 
 
 Funding and Financials
 
 
 The company went public on the NEO Exchange under the ticker symbol &ldquo;AWKN&rdquo; in June 2021 via a reverse take-over (RTO) and up-listed to the over-the-counter (OTCQB) markets in August 2021 under the ticker symbol &ldquo;AWKNF&rdquo;. In 
 <a href="https://sp-edge.com/updates/14731">
 November 2022
 </a>
 , the company raised USD 1.9 million in a final tranche of a private placement consisting of 3.4 million units priced at USD 0.55 per unit. The new funds were used towards advancing its Phase 3 clinical studies for ketamine-assisted therapy for alcohol use disorder, a feasibility study for 4-Methylenedioxymethamphetamine (MDMA), and for working capital and general expenses.
 
</div>

Modern tools to train and motivate staff, and bridge emerging skill gaps.

EdTech: Corporate Learning

<div>
 
 Cambridge Spark provides apprenticeships, training and assessment, and recruitment in the fields of data science, artificial intelligence (AI), and machine learning, using its proprietary AI-powered platform, K.A.T.E. (Knowledge Assessment Teaching Engine). The apprenticeships allow candidates to upskill or reskill themselves into new technical roles, such as data analyst, data scientist, and machine learning engineer. The apprenticeships serve as a professional entry-level route and a means of bridging skills gaps. The company also provides EDUKATE.AI, a learning management system (LMS), for organizations to create interactive and adaptive learning experiences when training data scientists and software developers.
 
 
 In April 2019, Cambridge Spark was awarded GBP 1.4 million (USD 1.9 million) in funding from Innovate UK to enhance the K.A.T.E. platform, and broaden its commercial reach.
 
 
 In January 2021, BRC Learning, the British Retail Consortium’s educational arm, partnered with the company to develop the Level 7 apprenticeship in Data Science and Machine Learning, an MSc Level qualification for advanced data analytics. The course will be funded by the Apprenticeship Levy, a levy on UK employers to fund new apprenticeships.
 
</div>

Moving industry forward with next-generation advancements in energy storage and transmission.

Alternative Energy

Connected Energy develops battery energy storage systems through the use of second life electric vehicle batteries. The company’s 300 kW E-STOR battery energy storage system is designed for commercial applications.The product comes in the form of a 20 ft container and is made using 24 second life Renault EV batteries. The battery system can be used individually or as multiple systems working together as per the customer’s requirements. Furthermore, Connected Energy’s control system communicates directly with all batteries to provide real time monitoring and control. The battery system's modular design makes it possible for batteries to be easily exchanged if required.The next generation of Connected Energy’s E-STOR battery energy storage systems, released in 2023, range from 1 MW up to 10 MW. The systems are designed for larger, commercial-scale, and industrial applications and will be suitable for both in-front and behind-the-meter applications.&nbsp;The company’s batteries are automated and optimized by its cloud-based energy management software. It allows the system to be charged and discharged to complement the site’s operations and responds to multiple parameters on or off-site according to a pre-set hierarchy of priorities. Customers are provided access to the online portal to monitor the performance of the system and the system dashboard visualizes the data.The company operates from its headquarters in Newcastle, UK, and has also established a technical center in Norwich which undertakes design, development, prototyping, integration, and testing.Key customers and partnerships&nbsp;Connected Energy has partnered with companies such as Renault Group, Volvo, Caterpillar, and Jaguar Land Rover. In October 2022, the company installed two energy storage systems at the University of Sheffield’s AMRC Northwest in Lancashire. During the same month, Mobilize Power Solutions to provide battery storage at EV charging sites in the UK.&nbsp;In May 2023, Connected partnered with North Tyneside Council to provide energy storage to store energy generated from solar PV arrays. In September 2023, the company signed a Letter of Intent with Volvo Energy to jointly develop a battery energy storage system (BESS) with batteries recovered from Volvo electric buses, trucks, and machines. In March 2024, the company once again partnered with Volvo Energy to install BESS’ at two UK Volvo Truck &amp; Bus dealer sites.Funding and financials&nbsp;Connected Energy’s latest funding round was in <a href="https://www.energy-storage.news/caterpillar-vc-arm-volvo-group-invest-in-uk-company-specialising-in-stationary-storage-with-second-life-ev-batteries/">June 2022</a>, when the company raised GBP 15 million (~USD 18.4 million) from five new investors to scale up its second life-based battery energy storage system solution.

New technology allows individuals and organizations to become carbon intelligent

Carbon Management Software

<div>
 
 UK-based Provenance offers a blockchain-based solution for businesses to communicate the environmental and social impact of their supply chains to customers. Provenance gathers information from suppliers, verifies them through independent third parties, and records them on a public blockchain. This information can then be published on online marketing channels of the business (such as e-commerce product pages, sustainability pages, third-party retailer websites, etc.) using an embed code. In 
 <a href="https://www.provenance.org/news-insights/provenance-launches-first-ai-tool-sustainability-navigator-to-give-marketers-tailored-sustainability-recommendations">
 September 2023
 </a>
 , the company launched an AI-powered tool, Sustainability Navigator, to provide marketers with tailored sustainability recommendations.&nbsp;
 
 
 Key customers and partnerships
 
 
 In 
 <a href="https://sp-edge.com/updates/6911">
 November 2021
 </a>
 , Provenance partnered with GANNI, a Danish fashion brand, to increase the transparency of fabric sourcing. In 
 <a href="https://sp-edge.com/updates/7254">
 December 2021
 </a>
 , the company partnered with Valpak, an environmental consultancy provider, and Waste and Resources Action Program (WRAP), a British recycling charity, to launch a tool to recycle packaging.&nbsp;
 
 
 The company&rsquo;s high-profile customers include Unilever, Cult Beauty, Napolina and Arla, among others. As of March 2024, over 200 brands and retailers had worked with Provenance.&nbsp;
 
 
 Funding and financials&nbsp;
 
 
 Provenance&rsquo;s most recent funding was in March 2022, when it raised USD 5 million in a venture round led by Working Capital Innovation Fund and Nordic Eye.
 
 
 
</div>

Hydrogen Economy

Based in both the UK and the US, ZeroAvia develops hydrogen-based, zero-emission aviation solutions with an initial focus on 10 - 20 seat fixed-wing aircraft with a 500-mile range designed for passenger and cargo transport and agriculture. The company expects to launch its first commercial aircraft by 2025. In August 2021, ZeroAvia partnered with Octopus Hydrogen to purchase green hydrogen to power its aircrafts. ZeroAvia also envisions developing four larger and more powerful hydrogen powertrains in the future, namely, 1) 40–80 seat model by 2027 , 2) a 100–200 seat model covering a 2,000-mile range by 2030, 3) a 200+ seat model covering a 2,000-mile range by 2035, and 4) a 200+ seat model covering a 5,000-mile range by 2040. The company has obtained approval from the UK Civil Aviation Authority (CAA) and the US Federal Aviation Administration (FAA) to test its prototype aircraft. Since 2019, the company has completed several test flights in California assessing its initial powertrain design. In September 2020, the company tested its prototype aircraft at its research facility in Cranefield, UK, marking the first hydrogen fuel cell powered flight of a commercial-grade aircraft. In September 2021, ZeroAvia chose Hyzon Motors to supply fuel cell stack systems to two of its prototype aircraft. Key customers and partnerships In <a href="https://sp-edge.com/updates/6210">October 2021 </a>, ZeroAvia signed a memorandum of understanding (MoU) with MHI RJ Aviation Group (MHIRJ), a subsidiary of Mitsubishi Heavy Industries, to develop hydrogen-electric propulsion technology for regional jet applications. The company also partnered with <a href="https://sp-edge.com/updates/6253">Alaska Airlines </a>and Royal Schiphol Group (a Dutch airports operator) to develop hydrogen-powered aircrafts. ZeroAvia <a href="https://sp-edge.com/updates/11794">collaborated </a>with Edmonton International Airport (EIA), to develop hydrogen infrastructure at Canadian airport sites. Other partners include <a href="https://sp-edge.com/updates/6563">ASL Aviation, HAL, Rose Cay </a>, <a href="https://sp-edge.com/updates/7357">De Havilland Canada </a>, <a href="https://sp-edge.com/updates/9558">ZEV Station </a>, <a href="https://sp-edge.com/updates/10328">Shell </a>, <a href="https://sp-edge.com/updates/11092">Otto Aviation </a>, <a href="https://sp-edge.com/updates/11718">Ravn Alaska </a>, <a href="https://sp-edge.com/updates/12072">American Airlines </a>, <a href="https://sp-edge.com/updates/11837">The Red Sea Development Company </a>and <a href="https://sp-edge.com/updates/13428">Textron Aviation </a>. In October 2022, ZeroAvia <a href="https://sp-edge.com/updates/13663">acquired </a>a next-generation hydrogen fuel cell provider for air transportation, <a href="https://sp-edge.com/companies/685851">HyPoint </a>. The acquisition was announced on the heels of ZeroAvia’s agreement with PowerCell, a Swedish hydrogen fuel cell stacks and systems developer, to deliver 5,000 low-temperature proton-exchange-membrane (LTPEM) fuel cell stacks with deliveries beginning in 2024, following a memorandum of understanding (MoU) signed between ZeroAvia and PowerCell in <a href="https://sp-edge.com/updates/11675">July 2022 </a>.Funding and Financials ZeroAvia’s most recent funding was in <a href="https://sp-edge.com/updates/11735">July 2022 </a>, when it raised USD 30 million as the second tranche of its Series B funding round led by existing investor International Airlines Group (IAG). Previously, in December 2021, the company raised USD 35 million as the first tranche of its Series B funding round led by Alaska Group Air and United Airlines. In December 2020, the company raised USD 21.4 million as the first tranche of its Series A round led by Breakthrough Energy Ventures and Amazon’s Climate Pledge Fund. Then, in March 2021, the company raised USD 24.3 million as the second tranche of its Series A round led by Horizons Ventures. The proceeds are expected to be used to fast-track the development of its hydrogen-electric engine for 50+ seat aircraft and to support commercial airline initiatives to increase adoption of hydrogen technology in aviation. The company also received a GBP 12.3 million (USD 16.3 million) grant from the UK government in December 2020 to develop a 19-seat hydrogen-electric powered aircraft by 2023.

Buy Now, Pay Later

Based in the UK, Divido operates an online marketplace connecting lenders, retailers, and payment partners. Divido offers a white-label infrastructure service to retailers so that they can offer BNPL services to their customers at the point of sale. The platform partners with multiple lenders that perform credit decision-making for loan origination and extend credit to consumers. This is in stark contrast to B2C and B2B platforms, which make the credit decisions in-house and partner with one lender to fund loans given out to customers, thus assuming the credit risk.The financing can be applied at the retailer’s checkout both online and in-store. By partnering with multiple lenders, retailers can offer higher acceptance rates and lower fees for installment financing as lenders on the platform compete to provide financing. Divido generates revenue through commissions when retailers use its platform to facilitate BNPL transactions. As of June 2021, the platform had more than 1,000 customers, including BNP Paribas, Nordea, Mercedes-Benz, Lastminute.com, and Lenovo.In October 2019, Divido partnered with BNPL provider Splitit to offer the latter’s payment solutions to Divido’s retail clients as an additional payment option at checkout.In June 2021, Divido raised USD 30 million in a Series B funding round led by HSBC and ING. As of June 2021, the company is available in 10 markets, and its Series B funding is intended to ramp up its international expansion plans.

Revolutionizing construction with sustainable practices to build faster

Prefab Tech

<div>
 
 Based in the UK, Modulous develops prefabricated multifamily housing units. The company uses a software platform that automates the design, cost, and programming of prefabricated homes that generates a 3D design structure of the building and proprietary &ldquo;kit of parts&rdquo; technology. This enables them to procure standardized components from the construction supply chain and assemble them to create buildings. All the components included in the kit have a digital equivalent in the software, which enables upfront customer access to key details like pricing.
 
 
 Modulous claims that their houses reduce energy, water, and materials wastage by around 70%. The houses were net zero for operational carbon as of September 2022 and the company expects to eliminate carbon emissions in manufacturing, assembly, transportation, and installation by 2030.
 
 
 Funding and financials
 
 
 Modulous raised GBP 10 million (~USD 11.5 million) in a Series A funding round in September 2022 to scale the company&rsquo;s operations.
 
 
 
</div>

Clear the air on carbon capture, reuse, and storage

Carbon Capture, Utilization & Storage (CCUS)

<div>
 
 UK-based CCM Technologies converts carbon dioxide (CO2) and other waste streams like ammonia and phosphate into materials such as fertilizers, plastics, and batteries. The company has developed a fiber that can absorb a large amount of CO2. This is then used to make a range of plastics such as polypropylene.
 
 
 
 
 In June 2021, the company secured GBP 2 million (USD 2.7 million) from Innovate UK&rsquo;s Sustainable Innovation Fund. In December 2020, CCM Technologies completed its Series A funding round led by Wittington Investments. The company had a pilot project with Pepsi to transform potato peelings (leftovers from making Walkers crisps) into low-carbon fertilizer. It does not, however, associate with utilizing captured carbon.&nbsp;
 
 
 
</div>

Autonomous and connected technologies shaping the future of the auto industry

Auto Tech

<div>
 
 Oxa 
 <a href="https://sp-edge.com/updates/18935">
 (formerly Oxbotica)
 </a>
 is a UK-based developer of autonomous vehicle software using computer vision and machine learning technologies. Its product portfolio includes &ldquo;Oxa Driver,&rdquo; a full-stack autonomy system that can be integrated into any sensor, vehicle, or platform; &ldquo;Oxa Hub,&rdquo; which connects autonomous vehicles with customers&rsquo; existing fleet management platforms; and &ldquo;Oxa MetaDriver,&rdquo; a system to synthesize simulated scenarios and validate customer environments. The company pitches its software to multiple B2B applications including shared passenger transportation, cargo transportation, energy, and mining. Oxa&rsquo;s software solutions are modular and customizable, enabling customers to select components and create a personalized solution based on their needs, technologies, and vehicles.
 
 
 
 
 Autonomous vehicles powered by Oxa&rsquo;s software were first launched commercially in February 2024 in Florida.
 
 
 
 
 Key customers and partnerships
 
 
 Reportedly, Oxa has customers in the mining, construction, agriculture, airports, ports, and logistics sectors (as of January 2023). 
 It has a 
 <a href="https://sp-edge.com/updates/21274">
 August 2023
 </a>
 partnership with Beep to integrate Oxa Driver into Beep&rsquo;s vehicles (launched commercially at the Florida State College at Jacksonville 
 <a href="https://sp-edge.com/updates/26901">
 in February 2024).
 </a>
 
 
 The company also has product partnerships with 1) German auto parts maker ZF to develop autonomous software for passenger shuttles (October 2021); 2) Swedish electric car manufacturer NEVS to develop self-driving electric vehicles to be deployed on public roads by 2023 (May 2022); 3) Google Cloud to scale up autonomous software deployment 
 <a href="https://sp-edge.com/updates/17345">
 (March 2023);
 </a>
 and 4) electric vehicle (EV) provider eVersum to develop and deploy autonomous city shuttles in the US and Europe 
 <a href="https://sp-edge.com/updates/22536">
 (October 2023;
 </a>
 launch plans in Belfast, North Ireland were announced 
 <a href="https://sp-edge.com/updates/23571">
 in November 2023).
 </a>
 
 
 Funding and financials
 
 
 <a href="https://sp-edge.com/updates/15599">
 In January 2023,
 </a>
 Oxa raised USD 140 million in a Series C funding round to accelerate commercial deployments. The company also received an undisclosed amount of funds from Google 
 <a href="https://sp-edge.com/updates/22505">
 in October 2023,
 </a>
 as a part of its Series C round.
 
 
 
</div>

Smart Homes: Energy & Water Solutions

<div>
 
 Moixa Technology specializes in renewable energy storage and management. GridShare, its AI-powered smart energy management software, is cloud-based and connects to users’ properties, home batteries, and EV chargers, allowing them to monitor and optimize power distribution. The platform provides predictions and smart charging, storage asset management, flexibility services, and real-time reporting and analytics. Moixa also manufactures smart battery storage for solar energy. This battery stores energy before the excess is sent to the grid, in turn saving the customer from buying it back at a higher price. The company is headquartered in the UK.
 
 
 
</div>

Marketplaces and related solutions for selling goods and services online

Ecommerce Platforms

<div>
 
 The sustainable lifestyle platform: B2B2C marketplace, underpinned with an AI-driven LCA impact calculator for enterprise (DaaS/SaaS)
 
</div>

Creating affordable content for the digital age

Content Creation Tools

<div>
 
 Subly makes content simple, by automatically transcribing, translating, and adding subtitles. They give creators and organizations control to edit and style content, with no editing skills needed, so they can focus on what they do best, creating and sharing more content that people love.
 
 Women-founded, Women-led.
 
</div>

Climate Risk Analytics

<div>
 
 UK-based Previsico&rsquo;s climate risk models predict flood-events. The company uses live modeling for predictions, where forecasts are remodeled every three hours in partnership with IBM&rsquo;s Weather Company. The company also utilizes satellite imagery, Light Detection and Ranging (LiDAR) elevation data, and drainage and IoT sensors for flood monitoring.&nbsp;
 
 
 
 Previsico&rsquo;s Flood Dashboard displays nowcasts and forecasts of flood events hourly across 48 hours. The company&rsquo;s IoT sensors predict the timing and nature of flood events. The company&rsquo;s first IoT-based flood alert system was launched in July 2021, post trials across the UK. Previsico had plans to deploy 3,000 IoT devices across the UK by Q4 2023.&nbsp;
 
 
 Key customers and partnerships
 
 
 
 In July 2022, Previsico partnered with Generali, a British insurance provider, to offer the latter&rsquo;s clients with flood mitigation actions by providing flood warnings. In June 2022, the company collaborated with GWTInsight, a commercial building data services company, to provide accurate and real-time surface water flood warnings to protect assets. Previsico has also partnered with Zurich Municipal, Liberty Specialty Markets, Everbridge, Watertight, Oasis Hub, and Geosite.&nbsp;
 
 
 Funding and financials
 
 
 
 In September 2021, Previsico raised GBP 1.8 million (USD 2.1 million) in a seed funding round led by Foresight Group. The funds were to be used to support product development, including IoT sensors. A part of the funds were also to be used for team expansion and revenue growth across the UK and other regions. 
 
 
 
</div>

Sterilize with ease: The future of hygiene technology

Hygiene Tech

<div>
 
 Callaly is a period care / femtech company that develops and manufactures products for periods and the delivery of medicines. Its first major innovation is a new type of tampon that is leak-proof and organic: the Tampliner. The gynecologist-invented Tampliner allows for hygienic insertion while eliminating the need for hard plastic applicators. The globally patented Tampliner is initially sold online through a customizable subscription, manufactured to medical-grade standards in Britain. Callaly is a B Corp and is committed to achieving higher standards of social and environmental performance, accountability, and transparency.
 
 It was founded in 2014 and is headquartered in London, England.
 
</div>

Using AI to mimic and understand human language

Natural Language Processing Tools

<div>
 
 Wluper is an advanced voice-based conversational AI platform that allows organisations to leverage advanced natural language capabilities to create meaningful experiences for their workforce.
 
 With a layer of unique language understanding skills, you can create and calibrate the workforce experience within your industry or sector, strengthen your position and empower your staff with an innovative solution that scales. Learn more at www.wluper.com.
 
</div>

Driving livestock productivity using next-generation biotechnology

Livestock Biotech

<div>
 
 Biotangents was founded upon their Leapfrog Assembly™ platform technology for building complex genetic constructs from multiple DNA parts. This was developed through a SMART: Scotland award from Scottish Enterprise and was exe0mplified through the generation of their terpenoid biosynthesis strains. During that successful first year they also developed their DNA randomisation technology, Short Sequence Randomisation™. In 2016, having formulated a concept for a modular cell-free nucleic acid detection technology, Moduleic Sensing™, and with support from SynbiCITE, they commenced development of their first diagnostic test, a highly specific and sensitive solution for pen-side diagnosis of infectious diseases in livestock.
 
</div>

Biologically protecting plants from pests

Biopesticides

<div>
 
 Bionema manufactures biopesticides for pest management, using microorganisms such as fungi, nematodes, and bacteria. Its product line consists of biostimulants, biopesticides, biofertilizers, biocides, pest monitoring, and efficacy boosters. The company has patented a broad range of technologies, such as Bionat, a bioinsecticide technology inspired by fungal strains, and IncapsuleX, a microencapsulation technology that delivers biopesticides to the insect cuticle, increasing efficacy. Additionally, MetarForce is the manufacturing technology for the commercialization of fungal spores, while NemaCad is a nematode technology for controlling soil-borne insects at the reproduction stage. Bionema is headquartered in the UK.
 
</div>

Next-gen Displays

<div>
 
 Offers software solutions for holographic display technology. The firm licenses its technology to AR/VR headset manufacturers as hardware developer kits (HDKs). The firm claims its solutions have a large viewable eyebox area and field of view.&nbsp;
 
</div>

Technologies and processes that revolutionize the traditional construction industry

Construction Tech

<div>
 
 YardLink is a B2B procurement platform for the construction industry
 
</div>

Taking commercial activities to new heights

Commercial Drone Tech

<div>
 
 Manufactures and provides services for Last mile Delivery as well as aerial inspections.
 
</div>

Educational technology plays a pivotal role in driving and enabling the revolution in post-secondary learning

Higher EdTech

<div>
 
 MedaPhor Limited, an e-learning company, produces training products for postgraduate medical professionals. The company offers tutorials for learning or improving ultrasound examination techniques; and simulation technology solutions for medical education and training. Its solutions include Blue Phantom, which offers ultrasound phantoms for hands-on gynaecological and obstetrics simulation training; True Anatomy, an endovaginal training model for ultrasound simulation training; and intrauterine pregnancy, ectopic pregnancy, and general pathology models. The company was incorporated in 2004 and is based in Cardiff, the United Kingdom.
 
</div>

Technology providers that enhance satellite operations

Satellite Management

<div>
 
 Alba Orbital is a pico-satellite company that builds and designs small commercial satellite platforms.
 
</div>

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