Latent Labs secures £40.4M in funding to realise the potential of AI-powered, programmable biology
Latent Labs, an AI-driven biotech startup, has emerged from stealth with £40.4M in total funding to advance its mission of making biology programmable. Founded by Dr Simon Kohl, a former DeepMind scientist instrumental in AlphaFold2, the company is developing generative AI models to design therapeutic molecules such as antibodies and enzymes. The funding includes a $40M Series A co-led by Radical Ventures and Sofinnova Partners, with participation from Flying Fish, Isomer, and existing investors 8VC, Kindred Capital, and Pillar VC. Notable angel investors include Google Chief Scientist Jeff Dean and Cohere founder Aidan Gomez.
Latent Labs aims to revolutioniae drug discovery by enabling partners to computationally design proteins with enhanced molecular properties, accelerating development timelines and increasing success rates. CEO Simon Kohl emphasized that while many biotech and pharmaceutical companies seek cutting-edge AI for drug design, not all can develop such models in-house—Latent Labs provides instant access to these tools. With operations in London and San Francisco, the company has attracted top talent from DeepMind, Microsoft, Exscientia, and Altos Labs, positioning itself at the forefront of computational biology innovation.
Manchester-based startup Arcube secures £1.23M in seed funding
Arcube, a Manchester-based travel tech startup founded by University of Manchester graduates Prithveesh Reddy and Harvey Lowe, has raised £1.23M in a seed round co-led by Fuel Ventures and Oxford Capital Partners, with participation from industry leaders like the former CEO of Pegasus Airlines. Headquartered in Manchester’s Sister innovation district, Arcube aims to revolutionise airline loyalty and revenue models through its AI-driven "Passenger Intelligence Platform," which analyses passenger data post-flight to suggest personalised upsells. A pilot with Etihad Airways demonstrated the platform’s potential, generating $1.6M in extra revenue and boosting average order value by 10.3%.
The startup empowers airlines to convert dormant loyalty points into valuable ancillaries like fast-track security and lounge access, encouraging repeat bookings and stronger passenger loyalty. Having started as a student project at the University of Manchester’s Masood Entrepreneurship Centre, Arcube secured mentorship, early-stage funding, and accolades such as the Venture Further Award. Reddy and Lowe attribute much of their success to the resources and support provided by the university, alongside their determination to prove their concept through a risk-sharing partnership with Etihad.
Arcube is now focused on scaling globally, with discussions underway with 14 airlines and ambitions to expand into the broader travel ecosystem, including hotels and car rentals. With ancillary revenue accounting for up to 50% of income for low-cost carriers, the company is well-positioned to lead in the travel ancillary data market, offering a smarter, data-driven approach to loyalty and revenue optimisation.
Modern Synthesis secures £4.3M to commercialise groundbreaking biomaterial technology
Modern Synthesis, a biotechnology company specialising in microbially-derived biomaterials, has successfully closed a £4.3M funding round, led by Extantia Capital, with participation from Artesian and Collaborative Fund. The oversubscribed round will support the expansion of production at its pilot facility and allow the company to address the growing demand for sustainable materials in the fashion industry, as it works to fulfil a growing waitlist from leading fashion brands.
Modern Synthesis uses nanocellulose, a naturally-derived polymer stronger than steel at a nanofibre level, to create durable, high-quality alternatives to animal leather, ‘vegan’ leather, and plastic-based textiles. These materials are free from petrochemicals and toxic ingredients, offering a reduced environmental impact compared to traditional textiles. As the fashion industry faces increasing decarbonisation pressures, Modern Synthesis’ technology enables brands to adjust their material mix, helping to meet climate regulations and reduce a 133 million tonne shortfall of low-impact raw materials expected by 2030.
CEO and Co-Founder Jen Keane highlighted the company’s ability to deliver both high-performance and sustainable materials, positioning Modern Synthesis as a key player in the future of fashion. With over 35 new sustainability regulations coming in the next few years, the company is well-poised to help fashion brands meet these challenges. The recent collaboration with Danish fashion brand GANNI on a prototype handbag demonstrates the company’s growing industry influence, as it works towards a commercial launch of its biomaterial products.
Manchester medtech company secures new investment to transform clinical trials
Manchester-based medtech company Pill Connect has secured investment to further scale its innovative digital device designed to track patient medication adherence. The device attaches to standard pill bottles and provides real-time data to pharmaceutical companies, helping improve the accuracy of clinical trials by ensuring patients take their medication as prescribed. This addresses a critical issue in clinical trials, where 50% of participants fail to adhere to guidelines, causing delays and additional costs in drug development. The investment from the GMC Life Sciences Fund by Praetura, alongside NPIF II – Praetura Equity Finance, will enable Pill Connect to expand its team and enhance its product, which integrates with clinical trial software and a companion mobile app to manage dosing.
The technology has also shown promise in supporting vulnerable groups, such as dementia sufferers and the elderly, by locking medicine bottles to prevent over-dispensing and reminding patients of upcoming doses. Pill Connect's device is already being used in clinical trials, partnering with global organizations like Aardex and Aptar, and the funding will allow the company to expand its reach and continue refining its product. James Burnstone, CEO of Pill Connect, expressed the company's excitement about its move into commercial adoption and the opportunity to solve a global issue, with a growing customer base in the pharmaceutical sector. The investment aims to further drive innovation in medical adherence and the broader life sciences sector.
Noxus raises £1.2M to empower Europe’s enterprises to build their own AI workforce and bridge the continent’s productivity gap
Noxus, an AI-powered platform for enterprises, has raised £1.2M in pre-Seed funding to support the development and scaling of its technology, aimed at helping businesses create AI-driven workforces. The round, led by SFC Capital, saw participation from Antler, Bynd VC, Caixa Capital, AltaIR Capital, I2BF Global Ventures, Yellow Rocks, and Smart Partnership Capital. Noxus enables companies to deploy AI co-workers to handle repetitive tasks and complex workflows, empowering employees to focus on high-value activities and boosting productivity.
Founded by João Pedro Almeida, Jorge Pessoa, Gonçalo Ferreira, and Miguel Ribeiro, Noxus is focused on democratizing AI adoption for businesses of all sizes, allowing them to scale their teams with AI without the need for specialized in-house expertise. The platform integrates advanced AI models into existing operations, offering full data security by running on the client’s infrastructure, making it particularly suitable for large enterprises. With six-figure contracts across industries like healthcare, finance, and FMCG, Noxus has proven its ability to drive significant operational efficiencies for its clients.
Noxus aims to close Europe’s productivity gap by enabling businesses to integrate AI into their daily processes quickly and securely. The platform has already delivered impressive results, such as a healthcare provider saving 700 hours per month by automating customer complaints and prescription analysis. The funding will be used to enhance the platform, expand its customer base, and continue to help companies across industries unlock the transformative potential of AI.
Sensor company raises investment to launch new fitness monitor
Applied Monitoring, a Sunderland-based company, has raised an additional £500,000 from the North East Venture Fund, supported by the European Regional Development Fund and managed by Mercia Ventures, to bring its innovative healthcare and fitness monitor to market. The company has developed a non-invasive device that continuously monitors lactate levels in the blood, a key metric used by athletes to gauge peak exertion and tailor their training. The technology, which has been successfully trialled at Durham University, will be embedded into a miniature device that can sync with a smartwatch, offering athletes a practical and comfortable alternative to traditional fingerprick tests.
The device has the potential to revolutionise fitness monitoring by making lactate level tracking accessible to a wider audience, including amateur athletes, runners, and fitness enthusiasts. Applied Monitoring has already attracted interest from major fitness and wearables brands and plans to launch the product commercially within the next 12 months. Additionally, the company intends to expand the technology for medical use, targeting hospitals where lactate levels are critical in detecting sepsis, a leading cause of death in the UK. The company’s ongoing developments also include exploring the potential for using the technology to monitor glucose levels.
Founded in 2018 by Jon Dixon, a former Sainsbury's and Argos executive, and Rob Connell, an NHS informatics specialist, Applied Monitoring is collaborating with leading experts to bring its groundbreaking non-invasive sensor technology to market. This latest funding brings the total raised by the company to over £1 million, supporting its mission to deliver continuous, accurate health monitoring and disrupt the healthcare and fitness industries.
OneID® secures new funding to transform digital identity verification
OneID®, the UK’s only provider of bank-verified digital identification services, has secured new funding led by ACF Investors, bringing its total investment to over £16M from more than 200 angel investors. The funding will support OneID’s expansion, enabling it to enhance its product offering, reach new market sectors, and grow its customer base, which includes major clients like NatWest and Adobe. With fraud losses rising and online security concerns increasing, OneID’s solution offers a seamless, document-free identity verification process that completes in just 12 seconds while ensuring user privacy and regulatory compliance.
The investment comes as the UK Government increases its focus on digital identity, particularly through the Online Safety Act 2023 and new age verification measures. OneID’s bank-based verification system is well-positioned to help businesses comply with these regulations while reducing fraud risks and operational costs. CEO Paula Sussex highlighted the company’s strong growth and the upcoming integration with Adobe and leading UK banks as key milestones. ACF Investors’ Managing Partner Tim Mills reaffirmed confidence in OneID’s ability to deliver scalable, secure identity solutions that align with regulatory needs and market demand.
In International investment news
AI-powered self-learning B2B sales messaging platform raises €600K pre-seed round to improve the impact of every sales touchpoint
Breakthrough, a B2B AI sales messaging startup founded by ex-Google executive Adit Abhyankar, has raised $600,000 in a pre-seed round. The company’s AI-driven platform learns from every customer interaction to optimize sales messaging and enhance effectiveness throughout the sales funnel. The funding, led by Senvest Capital, will help accelerate customer traction, expand use cases, and solidify product-market fit. Breakthrough aims to address the challenge of creating personalized, timely messaging for B2B marketing teams, offering deep customization across industries while preserving brand voice.
Breakthrough’s platform is already trusted by Fortune 500 companies and allows businesses to scale customer communication campaigns effectively by automating customer research and improving messaging quality. The AI continually learns from interactions, delivering faster and more accurate results, which appeals to large organizations hesitant about AI due to brand concerns. With this funding, Breakthrough plans to enhance its platform further and help businesses improve lead generation and sales effectiveness by streamlining sales and marketing processes at scale.
Junction Growth Investors closes first fund at €115M
Junction Growth Investors has successfully closed its first fund at €115M, surpassing its initial target of €100M despite a challenging fundraising environment. The Antwerp-based firm, founded in 2022 by experienced entrepreneurs and investment professionals, focuses on scaling European scale-ups and SMEs in the energy transition sector. Backed by leading family offices, institutional investors like the European Investment Fund (EIF) and BNP Paribas Fortis Private Equity, and global fund-of-funds Keeling Capital, the fund provides minority and majority growth capital investments of up to €15 million per deal. Junction has already deployed capital into seven companies across key energy transition verticals, including grid-enhancing technologies, sustainable buildings, home energy management, and industrial decarbonization.
Key portfolio companies include Ampacimon (Belgium) and Eneida (Portugal), which offer grid-enhancing solutions that enable low-capex grid expansion and increased renewable adoption. Other investments include Eturnity (Switzerland), which provides digital solutions for renewable energy installers, and EET (Austria), which offers smart plug-in battery solutions for apartment residents. Additionally, Hysopt (Belgium) specializes in optimizing complex HVAC systems, while Haulogy (Belgium) develops software solutions for energy utilities. Junction also recently acquired Solora (Belgium), a leading B2B solar and battery storage provider, in partnership with BNP Fortis Private Equity, marking its first majority buyout.
Managing Partner Dirk Dewals emphasized that the energy transition presents both a challenge and an opportunity for Europe, allowing the continent to reduce reliance on carbon fuels while building global technology leaders. Ampacimon CEO Stephan Heberer highlighted the strategic value of Junction’s involvement, which has facilitated Ampacimon’s expansion into the U.S. market and the appointment of former U.S. energy regulator Neil Chatterjee to its board. With a strong portfolio and expertise in scaling energy companies, Junction Growth Investors is positioning itself as a key player in driving the European energy transition forward.
