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LC

Low Carbon Innovation Fund

Venture Capital

Portfolio

4

companies

By category

  • TransportTech£4.7M
  • CleanTech£850K
  • MedTech£500K

By location

  • London£4.1M
  • Cambridge£850K
  • United Kingdom£615K
  • Norwich£500K

Portfolio companies

AT

Ablatus Therapeutics

Ablatus Therapeutics develops advanced medical technology for treating tumours.

B

Bactest

Bactest develops microbial testing instruments and sludge management systems for water and industrial applications.

R

RideTandem

RideTandem connects workers in transport deserts with sustainable shared commuter solutions.

SE

Spark EV Technology

Spark EV Technology builds intelligent software products for electric vehicles.


Recent investments

Seed
£2.3M

The investment round was led by Blackfinch Ventures and will support international expansion.

"Even before the cost-of-living crisis hit, public transport outside of big cities was broken – expensive, unreliable, or simply not there for people who need it. Almost 5,000 bus services – more than one in four – were axed between 2012 and 2022. Many that remain, especially outside cities and large towns, are under threat from the recent end of the Bus Recovery Grant. Too many people are left with a stark choice – car ownership, which is itself increasingly prohibitively expensive, or simply not working. That’s not right – it’s not good for individuals and their families, and their social mobility and mental health, or for communities more broadly, and it’s not good for the economy."
— Alex Shapland-Howes, Co-founder and CEO
Seed
£1.8M

The seed round was led by 1818 Venture Capital to support product and engineering recruitment.

"We met some fathers in a small town outside Rochdale. Hearing their experience of transport poverty – they were looking for work, there were opportunities just a 15-minute drive away, but they couldn’t drive and there was no viable way to get there by public transport – was mind-blowing."
— Alex Shapland-Howes, Co-founder and CEO
Other
£615K

The company surpassed its initial £530k target with backing from angels and institutional funds.

"To develop this expertise Spark requires a collaborative venture with suitably qualified experts to add to its engineering team. Our partnership will accelerate our speed to market and deliver leading functionality in an affordable way, helping us increase market growth and technology independence. Thank you for your support during the process."
— Justin Ott, CEO
£500K

The funding round was led by Anglia Capital Group alongside the New Anglia Local Enterprise Partnership and the Low Carbon Innovation Fund.

"Anglia Capital Group is delighted to have had the opportunity to work with Health Enterprise East on the first spinout from the Norfolk and Norwich Hospital. Our members led the investment round because of the exciting potential for this technology in cancer surgery and were strongly supported by matching investment from our partner, the New Anglia Local Enterprise Partnership."
— Struan McDougall, CEO
£850K

The company secured backing from the Low Carbon Innovation Fund and Angel CoFund to expand its distribution network and ready its Shepherd monitor for launch.

"I was keen to find a highly innovative, original, self-sufficient company that was also turning a profit. Bactest is changing the face of the world as we know it, so I feel it is the worthy winner of the Business SME of the Year award"
— Myleene Klass