Cambridge Future Tech (CFT), an organization dedicated to commercializing university research, has successfully raised $5 million (£3.94 million) to support the development of deep tech startups.
Launched in 2022, CFT collaborates with universities and tech transfer offices to establish spinout companies, acting as an operational co-founder to navigate the commercialization process.
CFT specializes in deep tech innovations, which often face significant challenges in securing external investment due to high costs.
Despite these obstacles, CFT’s portfolio companies have collectively raised over $10 million in investments and $5 million in grants to date.
Prominent companies formed with CFT’s assistance include Literal Labs, an AI spinout from the University of Newcastle, and AutoPickr, a robotic agriculture startup based in Cambridge.
The new funding will enable CFT to co-found eight additional companies in 2024, contributing to a broader goal of establishing 40 startups over the next five years.
“This investment is a testament to the huge and growing significance of deep tech startups for the national industrial strategy, supporting the UK’s ambition to bridge the critical gap between scientific discovery and market-ready innovation as a science and technology superpower,” said Owen Thompson, co-founder and CEO of CFT.
“Cambridge Future Tech is poised to continue expansion with our corporate and academic partners, with the long-term stability needed to begin the creation of a sister VC arm, further strengthening our venture-building capabilities.”
Based in Cambridge, CFT is led by CEO Owen Thompson and COO Xavier Parkhouse-Parker.
The organization works closely with leading UK universities, scientists, and inventors to bring scientific discoveries and technological innovations to market.
CFT’s recent collaborations include projects with industry giants like AngloAmerican plc and a partnership with CERN, home of the Large Hadron Collider.
Since its inception, CFT has co-created 10 deep tech ventures across the UK, generating over 80 highly skilled jobs and raising more than $10 million in external funding.
These ventures have been awarded over $4.5 million in grants, supporting crucial research and development efforts.
With an aggregate valuation surpassing $50 million at the pre-seed stage, CFT has successfully guided six ventures through their pre-seed rounds in the past year.
CFT’s portfolio includes startups such as Literal Labs, Mimicrete, AutoPickr, NeuroXR, CamAI, Mission Decisions, SAIF, and GitLife Biotech.
The organization’s technology-first approach leverages groundbreaking academic and corporate research, transforming it into pioneering deep tech ventures that shape industries and advance society.
CFT’s network consists of over 100 seasoned founders, business leaders, and technical experts, all committed to mentoring and supporting new ventures.
By providing inventors, innovators, and founders with the necessary tools and collaboration, CFT aims to build successful deep tech companies.
Additionally, CFT helps large corporations transform disruptive innovations into deep tech ventures, generating lasting value and advancing their strategic goals.
