Welcome to the latest edition of the DIGIT Deal Roundup.

A whirlwind end to the first quarter of 2025 saw millions invested into Scottish fintech, energy transition and AI, as well financial packages for Scottish universities and innovation accelerators.

Funding and Investments

Scots SpaceTech Firm Secures Half a Million Pounds in New Funding

Aurora Avionics, the Scottish aerospace technology company, has secured a new investment of half a million pounds to accelerate its mission to revolutionise space launch guidance systems.

Backed by Kelvin Capital, Gabriel, and Scottish Enterprise, the Edinburgh-based firm is now looking to use the fresh funds to aid its expansion.

Specifically, the funding will enable Aurora Avionics to hire new engineers, grow its operations at the Royal Observatory in Edinburgh, and advance its technology.

Click here to read more.

Heriot-Watt and Strathclyde Unis Receive UKRI Funds for Dementia Tech

Heriot-Watt University, the University of Strathclyde, and Age Scotland are leading a new network focusing on how technology can enhance the social, mental, and physical capacities of people with dementia.

The £2 million CONSOLIDATE  network is one of four announced by the UKRI’s Engineering and Physical Sciences Research Council (EPSRC) and the National Institute for Health and Care Research (NIHR) in partnership with the Alzheimer’s Society.

The networks aim to develop novel technologies that promote independent living and enhance the quality of life for people with dementia.

To read more, click here.

New Funding to Launch Glasgow Uni Space Nanomaterials Hub

A major new grant will help to establish the University of Glasgow as one of the UK’s leaders in atom-by-atom of analysis of materials which could support human habitations on the Moon and beyond.

UKRI’s Engineering and Physical Sciences Research Council (EPSRC) has provided the University with £5.3m in new funding to support the establishment of an on-campus atom probe tomography (APT) facility.

The new facility, which will be called the Space Nanomaterials Atom Probe, or SNAP, will be the first of its kind in Scotland and one of just six in the UK.

To read more, click here.

UK Gov Invests £20M To Unlock Drone Services and Flying Taxis

UK drone services at a commercial scale and flying taxis “could soon be a reality,” with the aviation minister confirming over £20 million in funding to support this mission.

The new funding is being made to remove barriers to growth and maximise opportunities for better and cheaper public services, while also cutting carbon emissions.

It’s designed to advance new aviation technologies to support healthcare for the NHS, assist police forces, help to inspect and survey critical infrastructure, and unlock delivery services for businesses and communities across the UK.

To read more, click here.

US Animation and Visualisation Firm to Put £28M into New Glasgow Studio

Halon, the Los Angeles-based animation and visualisation company, has announced plans to invest £28 million in a new Glasgow studio, creating up to 250 jobs over the next three years.

The firm, founded in 2003, is a leader in visualisation and virtual production for feature films, as well as provider of final animation for the gaming industry.

In recent years, Halon has worked on blockbuster movies such as the Planet of the Apes franchise, Mission:Impossible – The Final Reckoning, and the Batman, in addition to television series including The Mandalorian, and Epic Games’ hit video game Fortnite.

To read more, click here.

Glasgow’s Kube Networks Secures £2.25M From Maven

Glasgow-based technology solutions provider Kube Networks (KubeNet), which specialises in managed IT and infrastructure services, cloud solutions, connectivity, voice, and cybersecurity, has secured £2.25 million in funding from Scots private equity firm Maven.

The funding, provided via Maven Investor Partners, the firm’s private equity co-investment network, has been made to support KubeNet’s growth plans, which include organic expansion and a targeted buy-and-build strategy.

A first bolt-on acquisition is expected to complete in the coming weeks, providing an immediate increase in scale and offering “significant synergy potential.”

To read more, click here.

Innovation Accelerator Programme Gets £30M in Extension Funding

Innovate UK, the nation’s innovation agency, has announced £30 million of extending funding to a pilot programme which it says is shaping the future of UK industrial strategy.

The Innovation Accelerator (IA) programme focuses on locally-led innovation that drives economic growth and technological advancement across three key UK regions: Glasgow City Region, West Midlands, and Greater Manchester.

The IA programme itself is led by Innovate UK on behalf of UK Research and Innovation (UKRI) and the Department for Science, Innovation and Technology (DSIT). It’s a three-year program, was originally launched in 2022, and was due to complete in March 2025.

To read more, click here.

Quantexa Secures $2.6BN Valuation Following $175M Series F

UK artificial intelligence leader and unicorn Quantexa has announced today that it’s completed a USD $175 million (£136m~) Series F investment round.

Following this latest round, the British tech company has now been valued at USD $2.6 billion (£2bn~).

The round was led by Teachers’ Venture Growth (TVG), which is part of the CAD $255bn international investor Ontario Teachers’ Pension Plan, with existing investors participating, including British Patient Capital.

To read more, click here.

Industrial Biotech in Scotland Wins Major Funding

Research and development initiatives designed to accelerate bio-based manufacturing in Scotland have received a £5 million funding boost through Innovate UK’s Launchpad programme.

Nineteen projects are moving forward through the initiative’s second round after submitting applications at the end of 2024 – 11 are collaborative research and development projects, while eight SMEs have applied for grants through the Minimal Financial Assistance strand.

Among the successful projects are businesses enhancing the adoption of industrial biotechnology processes, accelerating biomass supply chain development, creating sustainable production and manufacturing opportunities and supporting innovation in skills development.

To read more, click here.

Dundee University Pulled Back From the Brink With £22M Funding

The University of Dundee has been thrown a lifeline with a £22 million rescue package from the Scottish Funding Council (SFC) as it grapples with a severe financial crisis.

The funding aims to help the institution address its immediate financial challenges and stave off the threat of insolvency.

The university, which is facing a £35 million deficit, notified the SFC of its financial difficulties in November 2024. Since then, the SFC has been working closely with the institution to assess the scale of the crisis. The newly approved support package includes a mix of low-cost loans and capital grants, designed to provide urgent relief.

To read more, click here.

New Regional EDGE Award Invests £400K into Scots Entrepreneurs

Twenty high-growth businesses set to make a positive impact on Scotland’s economy are celebrating being named shared winners of the Regional EDGE prize fund of £400,000.

This new pilot award, aimed at businesses in Aberdeen, Perth & Kinross, Dundee and Angus, and the Highlands and Islands, is the latest initiative in the long-standing relationship between the Scottish Government and Scottish EDGE.

Funds were allocated through a competitive process, which involved pitching to a panel of judges and delivered in collaboration with local partners Opportunity North East, Elevator, GrowBiz and Highlands and Islands Enterprise.

To read more, click here.

Scottish Fintech BLK Eyes IPO After Landmark £50M Funding

BLK, a Glasgow-headquarted online commodoties marketplace, has announced a £50 million equity round from Nimbus Capital, a Panama based investment group, operating globally with a focus on emerging companies and industries with strong growth potential.

This investment in the Scottish fintech significantly boosts BLK’s growth plans and paves the way for a Initial Public Offering (IPO) in 2025.

BLK is rapidly disrupting the traditionally offline commodities market, offering, according to the company ‘a seamless and transparent digital platform that connects buyers and sellers of a wide range of raw materials, without intermediaries.’

To read more, click here.