What's Happening?
Empirical Ventures, a Bristol-based deeptech fund, has received a £10 million commitment from the British Business Bank through its Regional Angels Programme. This funding increases the Bank's total support for Empirical Ventures to £15 million. The firm,
co-founded by Dr. Ben Miles and Dr. Johnathan Matlock, focuses on backing 'venture scientists'—PhDs building companies in energy, materials, and life sciences. The new capital will enable Empirical to provide larger investments to early-stage science-led founders across the UK, particularly outside London. The firm targets pre-seed and seed rounds, investing in areas such as energy, advanced materials, robotics, and life sciences. Empirical Ventures aims to bridge a critical funding gap for science-led businesses, emphasizing investment with scientific conviction.
Why It's Important?
The investment from the British Business Bank is significant as it supports the growth of deeptech startups, which are crucial for innovation in sectors like energy and life sciences. By focusing on early-stage companies, Empirical Ventures helps to nurture groundbreaking technologies that can lead to significant advancements and economic growth. The funding also highlights the importance of regional investment, ensuring that promising startups outside major hubs like London receive the necessary support. This approach can lead to a more balanced economic development across the UK, fostering innovation in diverse locations.
