DeepTech venture builder raises over $3m top-up funding
Since launch in 2022, CFT has crafted a pioneering portfolio of nine DeepTech ventures spanning the breadth of the UK, such as Cambridge-based Mimicrete, a leader in self-healing concrete technology, Mignon which is set to form the next generation of ultra-efficient Artificial Intelligence and the transformative synthetic biology startup, GitLife Biotech – spun out of Newcastle University.
The CFT team has a proven track record in building companies and are joined by a network of more than 100 seasoned founders, technical specialists and business leaders.
CFT’s portfolio continues to grow at pace having created over 50 highly skilled jobs, raising over $3.7m in external funding, and being awarded over $2.5m in grant funding, with more than $30m in aggregate valuation at pre-seed.
Cambridge Future Tech continues to expand its venture building activities, with an ambition to co-found over 40 tech-first companies in the next five years, plus further expansion of its ‘venture-building-as-a-service’ provision with a growing number of prominent corporate partners.
Michael Beer, Partner at Vest Coast Capital (a US-based CFT investor), and CFO at FreeWire Technologies, said: “The Cambridge Future Tech team continues to deliver on its well-articulated plan for growth and value creation.
“We’re highly encouraged by the milestones achieved within the current portfolio and see a robust pipeline of future opportunities identified through CFT’s dynamic and unique approach.”
Co-founder and CEO at CFT, Owen Thompson, comments: “Our tech-first venture builder model addresses the critical challenges often faced by technology founders.
“During the nascent stages of a venture, academic founders grapple with the dual tasks of advancing their technology while simultaneously fostering a commercially viable business.
“By co-founding DeepTech companies, our team assumes an operational role within those ventures, bolstered by our extensive network of advisers.
“This additional funding allows us to expand our integrated venture building activities, while also building out new corporate partnerships, bringing the DeepTech community together around the unified goal of commercialising nascent technologies for global impact.”