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Martlet Capital

Martlet Capital

Venture Capital

Martlet Capital is a seed-stage investment firm providing patient capital and hands-on support to deep tech, life science, and sustainability start-ups.

Portfolio

8

companies


Portfolio companies

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OctaiPipe

OctaiPipe builds an edge AI platform for critical infrastructure industries.

RoboK

RoboK

RoboK turns passive industrial video feeds into actionable safety intelligence.

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PharmEnable

PharmEnable develops next-generation small molecule drugs for challenging disease targets using an artificial intelligence platform.

CG

Cambridge GaN Devices

Cambridge GaN Devices designs energy-efficient Gallium Nitride transistors for power applications.

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Porotech

Porotech develops advanced gallium nitride semiconductor technology for micro-LED displays.

Nu Quantum

Nu Quantum

Nu Quantum develops hardware infrastructure to interconnect and scale quantum computers.

Spotta

Spotta

Spotta develops smart pest-detection technology for continuous insect monitoring.

Qkine

Qkine

Specialist manufacturer of proteins for stem cell and regenerative medicine applications


Team

PM

Peter McPartland

Investment Director

Peter brings life sciences investment and consulting experience, having previously served as an Investment Director at Martlet Capital and an Entrepreneur in Residence at Cambridge Enterprise.

LinkedIn

Recent investments

Seed
£3.5M

The pre-Series A round and Innovate UK grant will fund federated learning development and platform scaling.

"Critical Infrastructure is a multi-trillion dollar industry. Across Energy, Utilities and Telecoms – on-device Federated Learning has the potential to improve performance, reduce failures, enhance security and lead to more efficient, more sustainable services. The OctaiPipe team has already demonstrated significant customer traction and we are delighted to support them as they scale to address this important market."
— Mads Jensen, Managing Partner
£1.7M

The investment round was led by Cambridge Enterprise with backing from a range of existing and new institutional and angel investors.

"I have been extremely impressed by the insights, data and detail we have gained from this cutting-edge technology. Furthermore, the responsiveness of all the RoboK team – from their CEO to engineers – to find rapid, practical, and innovative solutions has been superb. There are clearly huge opportunities for all UK ports to collaborate and benefit from what we have learned; without question we now run a safer operation thanks to RoboK’s technology and expertise"
— David Brown
Seed
£6.0M

MP Healthcare led the pre-Series A financing to help fund the expansion of the company drug discovery pipeline in oncology and neurology.

"At PharmEnable, we believe that everyone deserves safe and effective treatments, and we are committed to applying the principles chemical novelty, diversity and 3-dimensionality to design powerful new small molecule drugs."
— Hannah Sore, CEO
Series B
£15.5M

The Series B financing was led by Parkwalk Advisors and BGF to support the commercial scale-up of power transistors.

"CGD is poised to become one of the leaders in enabling a sustainable world. As we move to a net-zero carbon society with rapidly increasing levels of electrification, we need clean, renewable sources of electricity and more efficient conversion methods. GaN provides the optimum conversion solution, reducing power losses by more than 50% and increasing energy conversion efficiency to above 99%. To take just one application example, if all data centres were to adopt GaN, this would save 12.4TWh of electricity per year, or 9 million tons of CO2 – the equivalent of taking 1.9 million internal combustion engines vehicles off the road for a year *. Our ICeGaN™ GaN transistors – which are now in the hands of customers at scale – are amongst the most efficient devices of their type on the market. Our devices are also the easiest for designers to use."
— Giorgia Longobardi, Co-founder & CEO
Seed
£3.0M

The funding round was led by Speedinvest to support the development of novel micro-LED production methods.

"It’s an entirely new engineered GaN material platform to build semiconductor devices on. It offers performance improvements that are suitable for mass production, scalable in wafer size – and crucial for the next generation of microdisplay devices such as AR glasses."
— Tongtong Zhu, CEO and co-founder
Series A
$9.5M

The financing round was co-led by IQ Capital, Parkwalk Advisors and BGF to scale the company's product range and double headcount.

"This latest round of investment is a great recognition of our success to date, with new and existing investors confirming the strength of our technology. Since 2016, CGD has grown significantly and we are thrilled to be in a position to deliver several products to market, following decades of industry-leading research in reliability of power devices. This investment will allow us to supplement our experienced team with additional experts and expand our markets globally, creating more sustainable electronics worldwide."
— Giorgia Longobardi, Co-founder & CEO
Seed
£2.1M

Amadeus Capital Partners led the Seed round, with backing from Ahren Innovation Capital, IQ Capital, Cambridge Enterprise, Martlet Capital, and Seraphim Capital, to fund new labs and recruitment.

"Our aim is to enable the potential of quantum mechanics using quantum photonics hardware. This funding will allow us to do just that – a world-class multidisciplinary team and our new laboratories will give Nu Quantum the ability to deliver meaningful demonstrations of our technology into the hands of customers and partners for the first time."
— Carmen Palacios-Berraquero, CEO
Seed
£934K

Cambridge Angels and REMUS led the seed round to support international expansion and product development.

"For decades, pest management has been held back by laborious, error-prone manual monitoring. With our technology it is finally possible to change this and help industries around the world to make a step change from reactive to proactive management of pests. This will save billions and massively reduce the amount of pesticide used globally. We’re delighted to have strong support from a wide group of investors who share our vision. This funding will allow us to scale up our commercial operations and continue to address the £320bn global problem of insect pests."
— Robert Fryers, CEO and co-founder
Seed
£1.8M

The oversubscribed round was led by Cambridge Enterprise and will fund the company's transition into drug development.

"We are pleased to welcome on board our new investors and appreciate their confidence in our business. Our aim is to replicate the specificity of biologics in the powerful and scalable form of a small molecule, to treat devastating diseases where there are currently no treatment options. We have proven the strength of our platform in tapping unexplored parts of the chemical universe to find novel and specific hits for currently undruggable targets, and are excited to now be able to invest in our own pipeline of drug discovery programmes, as well as to develop further strategic partnerships."
— Hannah Sore, CEO
Series A
£1.5M

Parkwalk led the series A round with participation from life science investors and angels to fund international expansion and senior hires.

"There is a clear market need for high-quality protein reagents, especially for applications in stem cell biology and organoid research. Qkine has both a compelling technology to meet this need and a highly experienced management team to drive the growth of the business."
— Alastair Kilgour, Chief Investment Officer