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DIGIT Deal Roundup | August 2025
Check out this month’s latest funding, investments, deals, and acquisitions news from across the Scottish tech sector.
Welcome to the August 2025 edition of the DIGIT Deal Roundup.
Last month saw a flood of fresh investment for Scottish firms, including multi-million pound funding deals for two broadband providers, backing for a host of healthtechs, and some good news for net-zero, not to mention almost a million raised by what’s claimed to be the UK’s ‘first AI insurance broker’.
Meanwhile, August also saw the sale of wealth investment giant Aberdeen’s financial planning arm, as well as the acquisition of a prominent Edinburgh Uni spinout crafting next-gen wearables.
All that, and more, coming up.
Funding
Maven Invests £2.6M in PowerPhotonic
Maven Capital Partners, one of the UK’s most active private equity firms, has invested £2.6 million in PowerPhotonic, a leading provider of precision optics for high-power laser systems, to scale its operations across the UK and US.
Headquartered in Dalgety Bay, Scotland, with a high-volume manufacturing facility in Arizona, USA, PowerPhotonic designs and manufactures freeform optics, essential to laser systems used in sectors such as aerospace, defence, medical devices, and semiconductor manufacturing.
The funding, which follows £2.7 million in investment from Archangels and Scottish Enterprise over the last 24 months, will support revenue growth across the company’s operations, fund expansion in sales and marketing, and help target new high-growth verticals.
“The momentum created by this investment opens the door to cutting-edge innovation and deeper collaboration,” said Amanda Robertson, group CEO at PowerPhotonic.
Read more here.
STAC Invest Backs Three Scottish Healthtech Innovators
Scotland’s industry-led accelerator for smart, connected, and deep tech startups has announced the completion of its first investments through its newly-launched investment syndicate, STAC Invest, marking a milestone in the accelerator’s evolution from mentorship to full-spectrum company building.
STAC Invest has backed three female-led Scottish healthtech startups with over £1 million in funding, including Smplicare, Seluna, and Silver Lion Innovations, tackling complex health issues from limited mobility to childhood sleep apnoea.
With over 90 startups supported, 292 jobs created, and £32 million invested in STAC-supported startups to date, the accelerator is now expanding its impact by providing direct, industry-led funding to ambitious founders designed to help Scottish startups scale globally.
“Our model is about more than money – it’s about bringing together private investment, mentorship, and access to advanced labs and networks,” said Angus Macfadyen, head of investment at STAC.
“We’re proud to back these outstanding female founders and their business partners, who are not only building great companies but also using smart tech to tackle real-world pain points in health and social care.”
Read more here.
Scottish Medtech Seluna Secures Funding for Paediatric Sleep AI Study
Glasgow-based medtech company Seluna is set to improve the diagnosis and management of childhood sleep disorders following the launch of a major clinical validation study with the Royal Hospital for Children in Glasgow.
The study, involving 500 anonymised patients under 18 years old, will run from now until the end of 2025, and follows Seluna’s success in securing nearly £650,000 funding via continued support from existing backers Gabriel Investment Syndicate, Scottish Enterprise and the University of Strathclyde, as well as a new investor STAC Invest.
With the validation study, Seluna is addressing a critical gap in paediatric sleep medicine, aiming to be the first SaMD developed specifically for diagnostics in this underserved market.
Currently, the gold-standard pathway relies on manual interpretation of complex sleep study data, but Seluna’s machine learning pipeline automatically scores paediatric sleep studies by identifying and classifying digital biomarkers of sleep-disordered breathing.
“We’re here to innovate, drive change, and compete internationally, with backing from investors who recognise the potential of the paediatric healthcare market,” said Dr Scott Black, co-founder and CEO of Seluna.
Read more here.
Scots Broadband Provider GoFibre Completes £125M Funding Round
GoFibre, the Edinburgh-based broadband company, has completed a £125 million funding round that will support its delivery of two Project Gigabit contracts in the south and north east of Scotland, covering the Borders, East Lothian, Angus, Aberdeenshire, and the Moray coast.
The round is led by a £45m debt facility from the Scottish National Investment Bank, alongside a further £80m from Hamburg Commercial Bank (HCOB). Deloitte advised GoFibre on the transaction.
GoFibre was recently awarded a £105m contract by the Scottish Government for the delivery of the UK Government-funded Project Gigabit programme in the north east of Scotland, a programme providing hard-to-reach communities access to fast, reliable gigabit-capable broadband.
“This is a significant step-change in GoFibre’s position both as a major independent broadband provider, and as a significant company in Scotland,” said Neil Conaghan, CEO of GoFibre.
“We are excited to play a crucial role in bringing the very best full fibre broadband connectivity to rural areas in Scotland, as part of our mission to bridge the digital divide.”
Read more here.
Rural Scotland Set for Gigabit Upgrade With £50M Investment
Even more rural communities across Scotland are set for a major connectivity upgrade, too, thanks to a new £50 million investment in internet provider Highland Broadband’s fibre network, which plans to reach over 150 small towns and villages in the coming year.
The Edinburgh-based network provider has secured £40 million from investment management firm AlphaReal, along with another £10 million from the Scottish National Investment Bank, as it continues to expand its network and close the digital divide for Scotland’s most isolated areas.
This latest investment takes the Bank’s total to £60 million, following the initial provision of £20 million in cornerstone funding in 2021, and a further £20 million in 2023.
To date, the company claims to have connected around half of all rural premises throughout the Highlands to its full-fibre infrastructure, including across the Black Isle, Great Glen and the Cairngorms.
“The roll-out of Highland Broadband’s network has made a real difference to people and businesses in rural areas, supporting jobs and boosting economic growth,” said Deputy First Minister Kate Forbes.
Read more here.
Glasgow Laser Photonics Research Centre Expands With Fresh Funds
The Fraunhofer Centre for Applied Photonics (CAP) is using fresh funding from the the Scottish Government and Scottish Enterprise to expand its presence in Glasgow.
The centre currently leases six laboratories and spaces for about 80 employees and doctoral students at the University of Strathclyde’s Technology and Innovation Centre, but with additional funding of £800,000, Fraunhofer CAP can support more student training, research and development, and aim win further contracts and grants.
The Glasgow centre specialises in lasers and optical systems, addressing challenges in security, defence, renewable energy, healthcare, and communications, delivering over £5 million of applied R&D projects for industry in the last year.
“The Scottish Government is a proud supporter of Fraunhofer Centre for Applied Photonics, having providing core funding for the Institute since its inception in 2012,“ minister for business and employment Richard Lochhead said.
“As the only Fraunhofer in the UK, it plays an important role in turning cutting-edge research into real-world industrial solutions across critical industries.”
Read more here.
OnPath Closes Funding For South Lanarkshire Wind Project
UK renewables developer OnPath Energy has successfully achieved financial close on a 33.4MW Scottish onshore wind project, which has a subsidy free, long-term route to market with a US technology company offtaker.
The six turbine Mill Rig Wind Farm, which sits between Strathaven and Darvel in South Lanarkshire, will feature some of the UK’s most advanced turbines to maximise energy generation and efficiency.
NatWest provided project financing for the asset, with the long-term agreement including a term loan and other ancillary facilities to support the project throughout its construction and operational life. OnPath Energy has financed the project to date and civil engineering works are already at an advanced stage.
“We are delighted to provide OnPath Energy with this bilateral financing to enable the construction of Mill Rig Wind Farm,” said Kristofer Gibson, NatWest Project Finance.
“The transaction marks our continued support to the onshore wind sector and strengthens our relationship with a leading player in the UK energy transition.”
Read more here.
HaloNinjas Secures Strategic Investment from Start Something Ventures
HaloNinjas, Scotland’s only dedicated HaloITSM partner in EMEA, has secured a strategic growth investment from Indianapolis-based Start Something Ventures (SSV) to accelerate its enterprise service management practice across the USA and Europe.
Leveraging SSV’s 250-strong investor network, HaloNinjas will expand its consulting teams and delivery capabilities, aiming to win large-scale ITSM transformation engagements in public and private sectors and continue to deliver best-in-class IT service management solutions.
“SSV’s support comes at a pivotal time as we deepen our enterprise service management practice,” said Jon Adlum, Co-Founder of HaloNinjas.
“Their backing empowers us to extend our consulting teams, refine our delivery methodologies, and engage with major public- and private-sector organizations across the US and EMEA.”
Oceaneering Wins £400,000 Funding For Subsea Power Project
Rosyth manufacturer Oceaneering has unveiled plans for a new project aiming to add capacity for the manufacture of subsea power cables for Scotland’s offshore wind sector, and boost the country’s place at the forefront of the global energy transition.
The project will be delivered with the support of a £400,000 grant from economic development agency Scottish Enterprise as part of a wider £1.6 million initiative, with senior research and development roles to be created at the site in support.
The immediate project will make use of existing manufacturing equipment on-site for the initial phase of research and development. Once the product has been designed and certified, the company is set to invest in new equipment and machinery for added project capacity.
“We anticipate that this funding will enable us to make critical investments that will drive job creation in and around Rosyth,” said Shaun Roedel, senior VP of manufactured products at Oceaneering.
“This investment strengthens our commitment to innovation and leverages more than 30 years of expertise in delivering dynamic solutions designed for, and operating in, the most demanding offshore environments.”
UK AI Insurance Broker, Raises £950K Pre-Seed
Meshed, an AI-native insurance broker rooted in Glasgow and London, has announced the closure of its £950k pre-seed round, backed by Haatch, Aviva via Founders Factory, Exponential Science Foundation, and angel investors.
The funding will help Meshed as it aims to rebuild the commercial insurance brokerage model with AI, cut manual processes, and ease administrative costs to lower commissions and customer premiums.
Meshed said its AI-powered platform introduces agents to support different elements of the broker experience, including browser use agents for quoting and voice agents for data collection, freeing human brokers to focus on client relationships and high-value advice.
The firm was recently authorised as an Appointed Representative by the UK’s Financial Conduct Authority, and claims to have secured more than fifty insurer agency agreements.
“After nearly 20 years in the industry, I’ve seen just how little has changed,” said Meshed CEO Mark Costello.
“Insurance is still too reliant on paperwork, underinsurance is far too common, and fees are often higher than they should be. We built Meshed to change that, to bring SMEs’ costs down, give them the right protection and make the whole process faster, simpler, and more transparent.”
Deals
Scottish EDGE Awards Secures New £3.6m Government Backing
A £3.6 million contribution to the Scottish EDGE Awards is to be made over the next three years, deputy first minister Kate Forbes has announced.
The multi-year pledge goes beyond a Programme for Government 2025-26 commitment to provide £1.2 million this year by committing to deliver the funding level for the next three years. The funding will be matched pound-for-pound by the private sector over the same period.
Since being established in 2012 the Scottish EDGE awards have awarded more than £29 million to more than 700 businesses – with the platform helping many to establish national and international business operations.
“As a founding funder of Scottish EDGE, the Scottish Government has played a pivotal role in the delivery and success of the competition from the outset,” said CEO of Scottish EDGE, Evelyn McDonald.
“We are confident that the benefits to the economy of the Scottish Government’s commitment over the next three years will be felt for a long time to come – not least in helping leverage further, private sector investment in the growth of Scottish businesses, with the likes of RBS and ongoing support from The Sir Tom Hunter Foundation.”
Read more here.
Interface Marks 20 Years with Fresh Backing from Scottish Funding Council
Interface has secured a double commitment from the Scottish Funding Council (SFC) as the organisation celebrates its 20th birthday.
The new three-year funding agreement, running from August 2025 to July 2028, enables Interface to continue connecting businesses with the expertise of universities and colleges across the country.
The SFC has also confirmed ongoing support for the Standard and Student Placement Innovation Voucher Programmes, which enable small and medium-sized enterprises (SMEs), universities and colleges to collaborate on projects leading to new products, processes and services.
Since its launch in 2009, the Innovation Voucher programme has provided £13.25M to date to create, develop, test and analyse new and existing products, processes and services.
“We are proud to have been able to support Interface’s impact on business innovation across many sectors of the economy throughout Scotland for the past 20 years,” said Francesca Osowska, chief executive of the Scottish Funding Council.
“This new wave of funding will support Interface to continue to connect business innovation with academia and foster new products, processes and services.”
Read more here.
Acquisitions
Aberdeen Offloads Financial Planning Arm to Ascot Lloyd
Edinburgh headquartered investment company Aberdeen has agreed the sale of its financial planning business, Aberdeen Financial Planning, to Glasgow-based financial advice and planning firm Ascot Lloyd.
Aberdeen Financial Planning, formerly 1825, was set up as part of Standard Life plc in 2015 and subsequently built up through a series of acquisitions. The business was renamed in 2021 and moved to sit within the group’s interactive investor arm in January 2024.
The deal forms part of Aberdeen’s plans for growth, which revolve around simplifying its business to focus on key offerings across its interactive investor, adviser and investments businesses. Aberdeen said that it will continue to partner with Ascot Lloyd through the provision of its Wrap platform from the adviser division, as well as on potential investment solutions.
“Aberdeen Financial Planning has a great team who deliver an excellent service to our financial advice customers,” said Aberdeen’s interactive investor CEO, Richard Wilson.
“While we ultimately concluded that the face-to-face holistic financial advice model is not the best fit with the ii digital platform, we are confident it is well placed to thrive under Ascot Lloyd’s ownership, with a positive cultural fit and a track record of client service through a national organisation of 150 advisers.”
Read more here.
Ideagen Expands Safety Solutions with Reactec Acquisition
Ideagen, a developer of compliance and risk management software, has acquired Edinburgh-based wearable technology firm Reactec, as part of the firm’s mission to enhance safety and operational excellence for its customers, particularly those in high-risk industries such as mining, construction and manufacturing.
Reactec’s workplace wearables and cloud-based analytics enable businesses to take a more proactive approach to the management of workplace hazards such as exposure to vibration, dust, noise and proximity to hazards.
By integrating Reactec’s advanced wearable technology platform with Ideagen’s established suite of environmental health and safety software, customers will gain access to unparalleled tools to monitor and more importantly manage critical workplace health and safety risks.
Archangel Investors, a Scottish investment syndicate, was an early investor in Reactec, a University of Edinburgh spinout, supporting the company’s evolution from a specialised hand-arm vibration monitoring solution to a comprehensive workplace safety platform utilising wearable technology and data analytics.
“At Reactec, our core mission has always been to protect workers and provide actionable insights that foster healthier and safer work environments,” said Jacqui McLaughlin, CEO of Reactec.
“Becoming part of Ideagen allows us to extend our reach and provide even greater value to organisations that are forward thinking in their approach to enhancing the health and wellbeing of their workers.”
Kent to Acquire Aberdeen-based Exceed
Energy services firm Kent has signed a binding agreement to acquire Exceed Holdings Limited, a provider of well management, sub surface and decommissioning engineering services.
The acquisition marks Kent’s expansion into the global decommissioning market, helping to deliver on its aim of becoming a full-service partner across the energy lifecycle, including late-life operations through to the safe and successful decommissioning of assets.
Exceed, headquartered in Aberdeen and with operations spanning over 40 countries, brings two decades of experience in delivering complex offshore well projects, with over seventy wells drilled and more than 150 decommissioned to date, with the company one of only three licensed UK Well Operators.
The deal also unlocks significant opportunities in the energy transition space. Exceed is already repurposing reservoirs for carbon capture and hydrogen storage projects, which it will combine with Kent’s existing expertise in this space.
“Our agreement to acquire Exceed is a bold step into the future of responsible energy operations,” said John Gilley, CEO of Kent.
“Together, we will be uniquely positioned to help the industry navigate energy security, net-zero mandates, and the safe retirement of offshore assets.”
