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Empirical Ventures Secures £8.25M Funding for Deep Science

The UK’s deep science landscape is set to be transformed by Empirical Ventures, a firm founded by alumni of Bristol spinout Ziylo. The company has secured £8.25m for its S/EIS fund, with the ultimate goal of raising £10M in funding to support early-stage startups in the field.

Empirical Ventures aims to elevate the UK’s deeptech scene by leading due diligence on potential investments in this area, thereby reducing risk for their investors and co-investors. The firm’s deep science criteria cover a wide range of fields such as life sciences, advanced materials, photonics and quantum hardware, robotics and automation, agchem/tech, and deeptech.

The British Business Investments Regional Angels Programme awarded £5M to the fund, with the remaining £3.25M coming from other investors. Co-founders Dr. Jonathan Matlock and Dr. Ben Miles have a history of scaling and investing in deep science in the UK. They initially met at the University of Bristol spinout Ziylo in 2016, where they were part of the core scientific team.

Ziylo was later acquired by Novo Nordisk in a deal worth over $800 million, marking one of the largest acquisitions of a UK spinout company. Dr. Johnathan Matlock expressed excitement about the raise, emphasizing the importance of supporting innovative startups that address future challenges such as climate change and healthcare accessibility. Dr. Ben Miles highlighted the focus on new technologies driven by fundamental research and the role of Empirical Ventures in validating and funding novel technologies from the early stages to help founders navigate their journeys towards success.

Empirical Ventures will use its expertise to lead due diligence on potential investments in deep science startups across various fields such as life sciences, advanced materials, photonics and quantum hardware, robotics and automation, agchem/tech

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