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Northern Gritstone

Northern Gritstone

Venture Capital

Northern Gritstone is an investment firm focused on science and technology-enabled businesses in the North of England.

Portfolio

25

companies

Investment by month

By category

  • Semiconductor£162M
  • AI/ML£52.9M
  • MedTech£35.1M
  • Hardware£21.0M
  • SensorTech£13.0M
  • Other£68.8M

By location

  • Durham£162M
  • Sheffield£67.8M
  • Leeds£51.0M
  • Manchester£46.6M
  • London£9.8M
  • Other£15.6M

Portfolio companies

A

AmpliSi

AmpliSi develops porous silicon anode materials to replace graphite in lithium-ion batteries.

AssetCool

AssetCool

AssetCool builds advanced robotics and coatings to upgrade power grid capacity.

BOW

BOW

BOW offers a universal software platform that simplifies robotics programming for developers.

C

C-Capture

C-Capture develops chemical processes for carbon dioxide removal.

C

Cytotrait

Cytotrait develops organelle engineering technology for crop improvement.

Exciting Instruments

Exciting Instruments

Exciting Instruments develops a pioneering single-molecule detection platform for health research.

View all 25 companies
F

Floreon

Floreon develops plant-based bioplastics to replace traditional oil-derived polymers.

FT

Floreon Technology

Floreon Technology develops plant-based plastics as a sustainable alternative to fossil-fuel materials.

I

IVFmicro

IVFmicro develops microfluidic devices to make fertility treatments more effective and affordable.

Iceotope

Iceotope

Iceotope provides chassis-based liquid cooling systems for modern data centres.

I

Imperagen

Imperagen engineers better enzymes faster using quantum physics and artificial intelligence.

Literal Labs

Literal Labs

Literal Labs builds high-performance logic-based artificial intelligence models that are faster and more energy efficient than neural networks.

O

Optalysys

Optalysys develops photonic processing technology to unlock fully homomorphic encryption.

Opteran

Opteran

Opteran builds natural intelligence software to power machine autonomy.

P

Partful

Partful develops interactive 3D parts catalogues and work instruction software for manufacturers.

P

Phagenesis

Phagenesis develops neurostimulation technology to treat swallowing disorders.

Phlux Technology

Phlux Technology

Phlux Technology builds advanced infrared sensors for global optical and sensing applications.

P

Pixel-Flo

Pixel-Flo develops continuous-flow mass transfer technology for microLED screen manufacturing.

PS

Pragmatic Semiconductor

Pragmatic Semiconductor manufactures flexible integrated circuits that embed intelligence into everyday objects.

QV Bioelectronics

QV Bioelectronics

QV Bioelectronics builds surgically implanted electric field therapy devices to treat brain tumours.

Re:course AI

Re:course AI

Re:course AI builds a virtual training simulator for healthcare and life sciences.

S

Silveray

Silveray develops novel X-ray conversion materials for safer and more efficient imaging.

Sitehop

Sitehop

Sitehop develops hardware-enforced encryption technology to protect networks against quantum threats.

SS

Slingshot Simulations

Digital twin and decision intelligence software provider.

adsilico

adsilico

Adsilico builds virtual patient populations for medical device testing.


Team

Duncan Johnson

Duncan Johnson

chief executive

Duncan serves as chief executive of Northern Gritstone, following a tenure heading private capital at Caledonia Private Capital.

LinkedIn
JO

Jim O’Neill

Chair

JO

Jim O'Neill

Chair

LJ

Lord Jim O’Neill

Chair

LJ

Lord Jim O’Neill

Chaired

Kate Spencer

Kate Spencer

Head of Communications and Marketing

Kate brings communications and marketing experience from Northern Gritstone, BNP Paribas, and J.P. Morgan.

LinkedIn

Recent investments

Seed
£5.3M

The University of Sheffield spinout raised the capital from an international syndicate led by Northern Gritstone to scale its continuous-flow assembly process.

"This investment allows us to expand our team and demonstrate our unique technology on a commercial coating system, enabling partnership and evaluation by display manufacturing partners. We are proud to have a fantastic international consortium of complementary investors led by Northern Gritstone supporting our international ambitions to enable huge new market opportunities for microLED"
— Rick Smith, CEO and co-founder
Seed
£5.0M

The funding round was led by PXN Ventures with participation from IQ Capital and Northern Gritstone.

"What I see right now is that the companies that will make a radical difference in this emerging AI-driven future are all AI-native, lean on real world data, have genuine impact, and are fundamentally deep tech. Imperagen has each of those characteristics, combining them with outstanding people, phenomenal technology and the undeniable swagger you only get from Manchester. It was a no-brainer to join the team and lead this next stage in its growth."
— Guy Levy-Yurista, CEO
Pre-Seed
£2.0M

The funding will support the Sheffield spinout in moving its porous silicon anode technology from the laboratory toward commercial deployment.

"Our focus from day one has been on building a new type of silicon battery material that can be produced at scale and integrated into existing battery supply chains. This investment allows us to move beyond proof-of-concept and concentrate on scaling a product that delivers real commercial value to battery manufacturers, without introducing unnecessary cost or complexity."
— Ruth Sayers, CEO
Seed
£3.0M

Northern Gritstone led the seed round to support the rollout of the firm's crop technology across major food species.

"Food security and sustainability are two of our most pressing global challenges, and issues that we must be prepared to face today to ensure we are ready to meet the needs of tomorrow. We developed MOSS with those challenges in mind – a unique crop engineering solution capable of streamlining regulatory pathways and generating crops with new, enhanced, and more carbon-conscious traits. Thank you to our investors, whose support reaffirms our belief in the potential of MOSS to bring about a new frontier in crop technology."
— Junwei Ji, Co-Founder & Executive Director
Pre-Seed
£3.5M

The Leeds spinout secured backing led by Northern Gritstone to prepare its microfluidic device for human trials.

"At IVFmicro, we are harnessing years of research into reproductive biology to create a practical, accessible solution that can improve outcomes for patients undergoing fertility treatment. Our goal is to make IVF more effective, more predictable, and ultimately more hopeful for those striving to start a family."
— Helen Picton, Scientific Director