Welcome to August 2026’s DIGIT Deal Roundup.

The month was full of major investment stories, with Scotland seeing winning deals from the AI race in terms of data centre deals and chip funding.

Construction, space, and biotech also saw major funding gains this past month.

All that, and more, coming up!

Funding

UK AI Chip Startup OLIX Secures £232M in Series B Funding

OLIX, the UK-based AI hardware company founded in 2024, has secured $312 million (£232m) in its Series B round and also achieved a $3.3 billion (£2.45bn) valuation.

The startup is developing the next-generation of AI chips that are faster, cheaper, and more energy-efficient than current AI chips. Known as “inference chips,” these are being designed specifically with AI in mind, with each specialising in a particular part of an AI model’s “thinking” process.

The financing funds the route to delivering its DX-1 chip, which is designed for the stage at which an AI model reasons and generates its output, to OLIX’s first customers by the second half of 2027.

To read more, click here.

Glasgow Biotech Mironid Secures £34m Series B Funding

Glasgow-based biopharmaceutical company Mironid has raised £34m in a Series B funding round, which includes an £8.4m equity investment from the Scottish National Investment Bank (SNIB). SNIB joins existing investors, including Roche Venture Fund, Epidarex Capital, Sofinnova Partners, BioGeneration Ventures, and the University of Strathclyde.

The capital will support clinical development of Mironid’s small molecule therapeutics for the treatment of Autosomal Dominant Polycystic Kidney Disease (ADPKD), a life-threatening hereditary kidney disease.

ADPKD is one of the more prevalent rare diseases and the most common hereditary kidney disorder but has limited treatment options. It is characterised by uncontrolled growth of fluid-filled cysts, and Mironid’s first-in-class small molecule LoAc® drug candidates directly target the abnormally high kidney cAMP levels that drive cyst formation.

To read more, click here.

Edinburgh’s Wordsmith Extends Series B With $14m Investment

Wordsmith AI has announced a $14 million extension to their Series B, led by new investment from Intact Private Capital alongside existing investors Highland Europe and Index Ventures. FT Ventures has also become a shareholder in Wordsmith.

The additional investment follows a period of rapid growth for Wordsmith, with the company stating that revenue has grown 14x year over year and the platform is now used by more than 500 companies, including BT, FT, Sage, Starling, Canva, and Safelite. The funding deepens Wordsmith’s presence in North America, where demand from enterprise legal teams is accelerating, and strengthens its footprint in the financial services and insurance sectors.

Unlike legal AI startups serving both law firms and corporate legal departments, Wordsmith is built exclusively for in-house legal teams. Wordsmith believes the two markets require fundamentally different products: while law firms manage external matters and operate around billable hours, in-house teams need to resolve more work internally, control outside counsel spend, and provide faster support to every part of the business.

To read more, click here.

DataVita Secures £300M for Data Centre in Scotland’s AI Growth Zone

DataVita has secured a c.£300 million debt facility to expand and build two data centres in the North Lanarkshire AI Growth Zone, unlocked by a £202 million financial guarantee from the National Wealth Fund.

The facility has been raised with participation from a syndicate of lenders including ING (acting as advisor and coordinator), ABN AMRO, Santander (acting as agent), the Scottish National Investment Bank and Siemens Financial Services through Siemens Bank.

The National Wealth Fund’s guarantee is provided against the £252.5m of lending delivered by ING, ABN AMRO and Santander equating to 80% of this tranche. The remaining portion provided by SNIB and Siemens Financial Services is uncovered.

To read more, click here.

Scottish Sustainable Construction Tech Firm Kenoteq Raises £900K

Scottish sustainable construction technology company Kenoteq has secured almost £900,000 in new investment as part of an ongoing funding round.

The investment has been led by Kelvin Capital alongside the Scottish Enterprise Co-Investment Fund and several existing investors who have chosen to increase their backing of the business, demonstrating continued confidence in Kenoteq’s commercial progress and long-term growth strategy.

Importantly, the investment round remains open as the company continues discussions with prospective investors. Kenoteq is targeting a total raise of £2 million.

To read more, click here.

Edinburgh’s Singular Photonics Raises $2.15m

Edinburgh-based image sensor developer Singular Photonics has secured $2.15 million (£1.6m) in an oversubscribed funding round as it looks to expand its product portfolio and accelerate the development of its next generation of SPAD-based sensors.

The round was led by ACF Investors, with participation from Wren Capital, Cambridge Angels, Scottish Enterprise, Quantum Exponential and Old College Capital.

Singular said the investment will be used to increase its engineering capacity and bring new image sensors to market more quickly, responding to demand from its growing customer base.

To read more, click here.

UK Space Agency Funds New Satellites To Improve Scottish Broadband

More reliable broadband on remote Scottish railways and affordable sensors which help farmers grow more food are among a raft of new projects which will bring the benefits of space technology into everyday life.

The UK Space Agency is funding 16 projects through a £13 million government investment, supporting the companies and workers developing the satellite communications systems the UK will depend on for decades to come.

Satellites are the backbone of modern life, powering the navigation apps we rely on, the weather forecasts that keep us safe from storms and extreme heat, and the broadband connections that keep friends and family in touch.

To read more, click here.

Scottish HexSeed Technology Gains £600K For Semiconductor Tech

HexSeed Technology, the semiconductor startup, has raised over £600k in early funding, led by Carbon13, with participation from Net Zero Technology Centre and Vento Ventures.

The cumulative investment unlocks a Partnership Grant from Innovate UK, awarded on a provisional basis earlier this year.

Data centres already draw a significant share of global electricity, and the IEA expects that to reach 945TWh by 2030 as AI-optimised facilities scale. A large share of that power is lost as heat.

To read more, click here.

AI Scotland Invests £1.8M Into SMEs

A national programme helping Scottish companies capitalise on the benefits of AI has received funding for its second year.

Backed by £1.8 million of continued funding, AI Scotland will help small-to-medium-sized businesses (SMEs) to develop new products and services, grow market share and attract new investment.

The Programme offers support such as mentoring, workshops and grant funding to help businesses identify AI opportunities, plan AI implementation and develop and test AI solutions tailored to their needs.

To read more, click here.