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DIGIT Deal Roundup | November 2025
Check out the latest funding, investments, deals, and acquisitions news from across the Scottish tech sector.
Welcome to November 2025’s DIGIT Deal Roundup.
Sleighbells may be ringing, but it’s the sound of champagne corks that fills the air, after a flurry of multimillion-pound deals last month lit up Scotland’s tech sector brighter than the Hogmanay fireworks.
November saw some headline-grabbing investments for a host of Scottish bio-and medtech firms, alongside fresh funding for a major renewables project, as well as a burst of M&A activity in IT and software that added an extra sparkle to the festive season.
All that, and more, coming up.
Funding & Investment
Scottish Biotech Firm Raises £4.5M for North American Expansion
Edinburgh biotech Rhizocore Technologies has raised £4.5 million to scale its fungi-based biotechnology, which boosts tree survival and growth across diverse landscapes.
The round was led by The First Thirty, a specialist investor in tech to improve soil health, with participation from Scottish Enterprise, Sand River, Generation-Re, Kibo Invest, John Thomson, and Old College Capital, as well as from existing customer The Grosvenor Estate.
The funding will support the firm’s expansion into North America, as well as allow for a significant increase in capacity at its Scottish facility in Roslin to fulfil a growing multi-year order book, with existing customers having already purchased 100% of Rhizocore’s planned 2025/26 capacity.
“We are excited to be working with both existing and new investors, including several of our customers, who are experts in forestry and soil health,” said Dr Toby Parkes, founder of Rhizocore.
“This capital will accelerate our business scaling plans, unlock new markets, and advance our mission of protecting, harnessing, and restoring fungal biodiversity.”
Read more here.
SNIB Joins UK Partners to Fund Scottish Floating Wind Farm
The Scottish National Investment Bank has joined the UK’s National Wealth Fund and Great British Energy in making a significant investment towards a major floating offshore wind project.
Each investor has secured an initial stake in the Pentland Floating Offshore Wind Farm, located off the coast of Dounreay, with the option to invest up to £50 million as the project progresses towards generating enough green electricity to power up to 70,000 homes.
Led by Highland Wind Limited, the project aims to fast-track floating offshore wind using advanced technologies, with the latest round of funding labelled as evidence of how public finance can back the clean energy sector, and crowd in with private capital to support emerging energy technologies.
“The offshore wind potential in Scotland is considerable both as a source of energy and, particularly with floating, to export our supply chain. Our commitment of up to £50m to support the Pentland Project is an important step toward developing a thriving and sustainable economy,” said Mark Munro, chief investment officer at the SNIB.
Read more here.
Strathclyde Uni Digital Platform for Trauma Support Secures £1.2M
Sentinel, a digital platform dedicated to trauma prevention and management for frontline service professionals, has secured £1.2 million in funding to expand its impact.
The app, developed in partnership with the University of Strathclyde’s Department of Psychological Sciences and Health, integrates the latest insights in neuroscience, digital health and trauma-informed design, with more than 1,000 frontline workers contributing to its development through primary research and testing.
With fresh investment from SFC Capital, the University of Strathclyde and Scottish Enterprise, Sentinel will now look to develop its evidence-based tools for trauma prevention, management and recovery.
“Scotland is a global leader in digital health and care, and backing innovative companies such as Sentinel is key to maintaining that position and driving long-term economic impact,” said Derek Shaw, director of investment at Scottish Enterprise.
Read more here.
Aberdeen’s TechX Accelerator Offers £50K to 10 Energy Startups
The Net Zero Technology Centre (NZTC) has opened applications for its TechX accelerator, offering up to £50,000 each to ten early-stage companies working to achieve net zero, attract investment and create jobs.
Now in its eighth year, the Aberdeen-based programme offers funding, expert guidance and access to an industry network of investors, customers, and technical experts, backing early-stage companies across low-carbon energy areas, such as carbon capture, grid solutions, hydrogen and alternative fuels.
The programme opens in a period of accelerating investment from the Scottish and UK governments, as they expand their support for clean energy initiatives, with applications to join this latest cohort closing on January 5th 2026.
“The energy transition won’t move fast enough without the most innovative technologies. Supporting entrepreneurs with future-ready ideas is essential to building a net-zero, secure and affordable energy system,” said Mark Anderson, chief acceleration officer and TechX director at NZTC.
Read more here.
1nhaler secures £1.5 million in funding to advance paper inhaler platform
Edinburgh-based drug delivery device developer, 1nhaler, has secured an additional £1.5 million in seed funding to drive development of its pop-up cardboard dry powder inhaler (DPI), in a funding round led by Archangels with support from Scottish Enterprise and BBB Investments.
The investment will allow 1nhaler to advance its platform technology towards a first Marketing Authorisation Application (MAA) targeted for late 2027. This includes the manufacture of clinical material for regulatory studies and the design of large-scale commercial manufacturing processes.
1nhaler said that its single-dose DPI platform addresses limitations in current delivery options around accessibility, cost, performance and environmental impact. Made predominantly from eco-friendly cardboard, and the size and shape of a credit card, the device incorporates a patent-protected membrane-based system that transforms into a three-dimensional inhaler for patient use.
1nhaler has already established manufacturing partnerships with Upperton for clinical manufacture and Harro Höfliger for large-scale manufacturing process development, with this latest cash injection following an initial raise of £2 million in 2023 in a round also led by Archangels.
“This additional funding represents strong continued confidence in our technology platform and our progress towards commercialisation,” said Lisa McMyn, co-founder and CEO at 1nhaler. “Our platform has the potential to become the simplest, most convenient single-dose, disposable inhaler on the market, transforming the delivery of inhalable drugs without the cost and environmental impact of existing devices.”
Deals
Trustmarque and Ultima Merge to Form £1bn UK IT “Powerhouse”
Trustmarque Group and Ultima Business Solutions have completed their long-anticipated merger, forming what the companies describe as a “new technology powerhouse” for the UK IT services market.
The newly unified group will now begin an integration process led by Trustmarque’s Simon Williams as chief executive officer and Ultima’s Jamie Beaumont as chief financial officer.
The deal combines nearly four decades of industry experience across public and private sectors, with both Trustmarque and Ultima bringing existing relationships with major tech vendors, like Microsoft, Cisco, IBM, and HPE.
Together, the group now employs more than 1,000 people across seven global locations, including York, Reading, London, Glasgow, Dubai, Singapore, and the US. It serves more than 3,000 customers and is targeting gross invoiced income growth to exceed £1 billion, reinforcing its position as one of the largest IT channel players in the UK.
“Our integration teams have laid the groundwork for a seamless transition, and we are excited to move forward as one team with one mission: to help our clients thrive in a fast-changing digital world,” said Beaumont.
Read more here.
Waracle secures digital transformation deal with People’s Partnership
Digital product consultancy Waracle has secured a long-term agreement with People’s Partnership, provider of People’s Pension, in a multi-million-pound deal that will help create the next-generation digital experience for the not-for-profit organisation.
The agreement will see Waracle expand its existing role with the organisation through until 2027, delivering digital consultancy services across consumer-facing apps, platforms, and IT systems. The partnership aims to increase engagement, improve transparency, and make it easier for savers to understand and manage their pensions.
Waracle was responsible for developing the provider’s existing mobile app and has earned a strong reputation for delivering secure, user-centric digital solutions. This new commercial agreement will support high-value tech jobs across central Scotland and London and reflects Waracle’s position as a leading digital partner for the UK pensions sector.
“We’re delighted to extend our work with People’s Partnership, a trusted organisation playing a vital role in helping millions of workers build a better retirement,” said Adam Grant-Jones, chief growth officer at Waracle.
Acquisitions
KubeNet acquires the Fibre1 Client base
Glasgow-based tech solutions specialist KubeNet has announced the acquisition of the client base of telecoms and connectivity provider Fibre1.
The deal is KubeNet’s second of 2025 and strengthens its position in the North of Scotland after the acquisition of Aberdeen-based managed service provider ISN Solutions in April.
The firms said that the addition of over 200 clients from Fibre1 will complement its Aberdeen operations and reinforce its ambition to expand its services throughout the UK, all while ensuring a smooth continuity of service and enhanced support for customers.
“Joining forces with KubeNet marks an exciting new chapter for the team at Fibre1 and, importantly, gives us access to a broader range of solutions and proven expertise,” said Lynn Stewart, Fibre1 director.
“KubeNet’s strong reputation and collaborative culture align perfectly with our own values, and we’re confident this partnership will take Fibre1 and our customers to the next level.”
Waracle Accelerates Growth with Acquisition of Sofia-based Hacksoft
In more news from the Scottish digital product developer, Waracle has agreed a deal to acquire HackSoft, a software development consultancy based in Sofia, Bulgaria, expanding the firm’s geographic footprint beyond the UK for the first time in its 17-year history.
Waracle said that the acquisition will not only give the company a strategic foothold in a key European tech hub, but widen its talent pool and bolster its expertise in product development across financial services, energy, health and public sector, leveraging Hacksoft’s specialisms in product, web development and data services.
This deal caps a year of strong growth, with Waracle having grown its UK team to 210 people across its four offices in London, Glasgow, Edinburgh, and Dundee, expanding its client base and deepening existing client relationships.
“Our growth plans are ambitious, and a key part of our strategy has been to find a talented team, with a set of values and ways of working that complement ours,” said David Tuck, Waracle’s CEO.
“HackSoft’s technical talent, commitment to open source, and its impressive track record with its training academy make it a fantastic addition to the Waracle team.”
Eureka Solutions Joins Evergreen’s Pine Services Group
East Kilbride-based Eureka Solutions has been acquired by managed IT services provider Evergreen’s dedicated Enterprise Resource Planning vertical, Pine Services Group, marking the firm’s first Scottish acquisition.
Pine Services Group said that the tie-up with Eureka, a cloud‑based ERP provider for mid‑market businesses, will allow the company to expand its portfolio and deepen its role as a trusted provider of Oracle NetSuite, Sage 200, and iplicit solutions — with iplicit representing a strategic new addition to its offering.
The acquisition signifies a key strategic expansion of the firm into the UK’s technology ecosystem, building on the work of Eureka’s 74-strong team as they continue to deliver results for clients across industries such as professional sports, software, non-profit, wholesale distribution, and hospitality.
“Joining Pine Services Group marks an exciting next chapter for Eureka Solutions,” said David Lindores, CEO of Eureka Solutions.
“Pine’s investment and international expertise will allow us to accelerate our growth, deepen our cloud and integration capabilities, and continue delivering exceptional value to our customers across the UK and beyond.”
