Deeptech Labs, the accelerator and VC fund backed by semiconductor producer Arm and Cambridge Innovation Capital, unveiled the six deeptech companies in its spring cohort, covering themes from graphene batteries to ultrasonic sensing for robots.
The companies in the group include:
- Anaphite: battery technology developer using graphene to make longer-lasting batteries.
- Sonicedge: developer of speaker-in-chip technology using ultrasound technology to create better sound quality in earphones.
- Toposens: ultrasonic sensing technology developer for autonomous robotics.
- iKVA: developer of AI-powered knowledge management for better business insights.
- Nestwave: Internet-of-Things geolocation technology developer.
- Inovo Robotics: developer of no-code modular robotics for automation.
The group is larger than Deeptech Labs’ last two cohorts, from spring and autumn 2021, which consisted of five and four companies respectively. Past cohort companies include 3D AI analytics platform developer Contilio, construction monitoring platform provider BKwai, vehicle inspection reports platform AutoFill, AI computer chip developer Salience Labs and agricultural monitoring platform Outfield Labs. The standard investment is typically £350,000 ($420,000) for each company, though it has varied from time to time.
Each of the cohorts has had a slightly different focus and a customised programme designed specifically for them. Whereas the first cohort was grouped around AI and construction technology, this latest one is based more on hardware and manufacturing.
At least one of the past cohort companies, UK-based “synthetic” data creation platform for training AI visual systems Mindtech, has gone on to receive corporate-backed investment. Appen, a provider of data for AI training, led a $3.7m round in Mach this year that features unnamed existing investors. The two also formed a partnership to provide data to the market.
Despite the market slowdown we have been seeing, the accelerator programme has not changed, though it does highlight the importance for startups of establishing relationships early, according to Deeptech Labs chief executive Miles Kirby.
“There are some changes happening in the market now, so we are keeping a close eye on that, but we have not had to change the programme around that,” he said.
“If there is a contraction in the size of the market and the willingness to fund companies, our belief is that the very best companies will continue to get funded, but it is those that maybe do not reach that high bar that will struggle more.
“So that is why we think supporting the very best companies and allowing them to get introduced to those VCs early so that they have a relationship there, because that is absolutely key, will help our portfolio companies to be able to weather out any potential storm that’s ahead.”
Deeptech Labs is having a demo day for its cohort on June 21st, find out more here.
