The enterprise value of Glasgow’s region tech ecosystem currently stands at £3.4B (€3.98B) in 2023, marking an 89 per cent increase since 2018, says the Glasgow City Council. As we step into 2024, the city’s newest wave of tech startups is now expected to outshine their predecessors in terms of growth and innovation.
According to Andrew Noble from Par Equity, Glasgow’s tech sector is experiencing significant progress, owing to the support of research and innovation from local universities. The last few years also saw tremendous growth in funding, which led the city to support a vibrant startup ecosystem.
Several industry clusters benefit from the volume of investment in Glasgow, including advanced manufacturing, net zero/climate technologies, the space economy, fintech, the digital and creative economy and health tech and precision medicine, says Dealroom.
Today, we bring you seven tech startups in Glasgow that are growing at a rapid pace.
Screenin3D
Founder(s): Dr. Michele Zagnoni, Alex Sim
Founded: 2018
Hiring: Yes, check out the opportunities here.
Founded in 2018 by Dr. Michele Zagnoni and Alex Sim, ScreenIn3D is revolutionising cancer drug development with its proprietary tumour-on-a-chip technology.
Aiming to improve the lives of cancer patients worldwide, the company improves screening capabilities through precise control of fluids, cells, and molecular transport.
Screenin3D’s tumour-on-a-chip technology enables the miniaturisation of 3D tumour-based tests through precise control of fluids, cells, and molecular transport in very small amounts.
For its breakthrough, the company received several awards at national and international conferences, such as ELRIG Drug Discovery and Basel Life, as well as securing grant funding from Innovate UK.
Additionally, ScreenIn3D secured £225,000 (€263,272) in seed investment, led by Gabriel Investments Ltd (Gabriel-IS), Scottish Enterprise, and the University of Strathclyde Inspire Entrepreneurs Fund in 20.
This investment will further advance and commercialise its microfluidic technologies for advanced drug screening and precision oncology.
Topolytics
Founder(s): Gordon Cowtan, Michael Groves
Founded: 2013
Hiring: Yes, check out vacancies here.
Based in Edinburgh, data analytics platform Topolytics addresses the world’s fast-growing waste problem. Poor waste management contributes to climate change, pollution, emissions, and detrimental consequences for habitats and ecosystems.
Topolytics’ WasteMap® platform provides insights for waste producers, recyclers, and governments to enable greater materials recovery, operational efficiencies, investment strategies, ESG reporting enhancement, and carbon emissions reduction.
The company recently secured €1.7M in fresh investment, including funding from high-net-worth investors from the US and a grant from UK Research and Innovation (UKRI) to support WasteMap’s international growth and create more waste management solutions. The
SOLASTA Bio
Founder(s): Shireen Davies
Founded: 2020
Hiring: Yes, check out the opportunities here.
Founded in 2020, SOLASTA Bio develops environmentally friendly Insect Control Agents (ICAs) for crop protection, and preserving ecosystems while addressing global insecticide needs.
The Glasgow University spin-out’s ICAs are inspired by nature rather than synthesised from a chemistry library, which allows them to safeguard beneficial pollinators like bees.
The company announced funding totalling £4M (€4.56M) in 2023. With this funding, the company’s total raised capital reaches £5.5M (€6.27M).
Investors in this funding round include Yield Lab Europe, an Agtech impact VC fund focusing on early-stage European agrifood tech companies to enhance sustainability and profitability in global food production.
The funding also includes grant support from Innovate UK’s Transforming Food Production competition and Scottish Enterprise, Scotland’s national economic development agency and a non-departmental public body of the Scottish Government.
ENOUGH
Founder(s): Craig Johnston
Founded: 2015
Hiring: Yes, check out the opportunities here.
Glasgow-based ENOUGH (formerly 3F BIO) is a food tech startup revolutionising protein production by fermenting fungi with renewable feedstocks.
The company claims that its flagship product, ABUNDA mycoprotein, is a sustainable source of food protein suitable for various diets, including vegan, vegetarian, or flexitarian.
Supported by the Bio-Based Industries Joint Undertaking within the European Union’s Horizon 2020 program, ENOUGH is constructing a protein factory to initially produce 10,000 tonnes per annum, with plans to scale production significantly by 2032.
In 2021, ENOUGH announced raising €42M in its Series B funding round. Nutreco, a Dutch company in animal nutrition and aqua feed, along with Olympic Investments Inc., led the round. New investors, including AXA IM Alts, HAL Investments, and Tailored Solutions, joined existing investors CPT Capital and Scottish Enterprise in this funding round.
EOLAS Insight
Founder(s): Douglas McNeil
Founded: 2020
Hiring: Yes, check out the opportunities here.
EOLAS Insight is a Scottish start-up that utilises space-age technology to monitor red deer populations from satellites to aid wildlife management in rural Scotland.
Founded by entrepreneur Douglas McNeil and supported by the Geovation Scotland Accelerator Programme, the company uses emerging technologies like artificial intelligence to provide vital data for environmental protection.
The company is one of the three companies participating in the Geovation Scotland program launched in 2019. The program supports Scottish entrepreneurs by providing access to land and property data, mentoring, and funding.
WellFish Tech
Founder(s): Brian Quinn
Founded: 2021
Hiring: No
Based in Scotland, WellFish Tech is pioneering fish health and welfare improvement using data and blood-based clinical analysis.
Founded by ecotoxicologist professor Brian Quinn, the company uses blood biomarkers and AI to assess fish health and enable aquaculture operations to enhance fish welfare effectively.
With the biomarkers, the company provides salmon farming companies with advice on smoltification, which is the anatomical changes in salmon biology that allow it to move from freshwater to saltwater. WellFish Tech also develops methods to assess the optimum smolt transfer window using algorithm-based AI modelling.
The company secured an investment from Ocean 14 Capital in October 2022, although the exact size of the investment was not disclosed.
Kilimo IoT
Founder(s): Benedict Odoom
Founded: 2020
Hiring: No
Kilimo IoT offers IoT solutions for farming needs by providing a scalable and user-friendly system for provisioning sensors. These sensors measure and transmit crucial data, including ambient humidity, temperature, light intensity, pH, EC, and other vital plant health indicators.
Kilimo IoT enables farmers to gather actionable insights, empowering them to enhance productivity, promote environmental sustainability, optimise crop yield, and increase profits from their smart farming operations.
The company has secured nearly £20,000 (€23,400) in funding for sustainable projects as part of its commitment to industry-wide net-zero initiatives.
The funding will support Kilimo IoT’s collaboration with Robert Gordon University to develop a data-gathering process aimed at improving environmental sustainability.
Read the orginal article: https://siliconcanals.com/news/startups/7-promising-glasgow-tech-startups-in-2024/
