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DIGIT Deal Roundup | October 2025
Check out the latest funding, investments, deals, and acquisitions news from across the Scottish tech sector.
Welcome to October 2025’s DIGIT Deal Roundup.
Christmas came very early for a raft of Scottish firms last month, with tens of millions in fresh investment targeting Scotland’s medtech stars, robot builders, EV makers, and agri-tech innovators.
Recent weeks also saw a prominent Scots chauffeur service snapped up by a global tech giant, along with some big buyouts in a flurry of cybersec deals and a major refinancing package secured by a leading edge provider.
Who needs fairy lights when Scotland’s tech industry is already glowing?
Funding & Investment
Edinburgh Uni Spinout Trogenix Raises £70M to Treat Aggressive Cancers
Edinburgh Uni spinout Trogenix has completed Series A financing of £70 million in a round led by IQ Capital, alongside returning investors 4BIO Capital, Cancer Research Horizons and the National Brain Tumour Society.
The funding will allow the biotech company to rapidly advance its pipeline of cancer therapies into phase 1 in-human clinical trials, starting with therapies targeting aggressive brain cancers.
Trogenix said the new funding, which included investment from Eli Lilly, Meltwind, LongeVC, and Calculus Capital, highlights the promise of its precision genetic medicines, a potential underscored by the fact that it marks Cancer Research Horizons’ largest investment to date.
“We are honoured to have the support of existing and new investors who share our mission to deliver breakthrough treatments and pursue cures for the thousands of patients and families facing devastating diagnoses each year,” said Ken Macnamara, Trogenix CEO.
Read more here.
Chemify Raises $50M in Series B Funding
Glasgow spin-out Chemify has secured more than $50 million in series B funding.
The oversubscribed funding round was co-led by Wing Venture Capital and Insight Partners, with participation from 8VC and existing backers Eoz, Blueyard, Triatomic Capital, and Rockspring.
The cash injection will allow Chemify to expand globally and build a network of digital chemistry hubs to deliver on-demand molecule design and manufacturing for use in pharmaceutical, biotech, and material-science applications.
After having recently launched its Chemifarm in Glasgow, the new funding will allow Chemify to open a facility in Silicon Valley, set to be led by the firm’s chief technical officer, Mike Bell. Chemify’s US hub will work to enhance the firm’s on-demand molecule design service, optimising the journey from concept to compound.
“Chemify aims to become the global digital backbone of chemistry, enabling fast design and discovery. The next step in our evolution is nothing short of a revolution in the digitisation and automation of chemical discovery and manufacturing,” said Lee Cronin, Chemify’s founder and chief executive.
Read more here.
Edinburgh-Based Launchpad Raises £8.2m For Robotics Reimagining
Robotics firm Launchpad has closed an £8.2 million Series A round, including a £1.5 million investment from the Scottish National Investment Bank, to accelerate the development of its tech.
Joining the Bank in its investment are VC firms Lavrock Ventures and Squadra Ventures, alongside the VC arms of prominent industry firms Ericsson and Lockheed Martin, drawn by the company’s promise to re-imagine the manufacturing sector.
The investment follows Launchpad’s opening of a new R&D hub in Edinburgh last year, with the Scottish capital singled out for its access to a highly skilled workforce, as well as the connections to university AI research and expertise.
The LA-based firm has already enjoyed public support from Scotland, with Scottish Enterprise awarding the company a £2 million grant towards the ongoing development of its proprietary technologies.
“Launchpad is fast becoming a leader in robotics, with its new R&D centre reinforcing Scotland’s reputation for innovation,” said Anthony Kelly, investment director at the Scottish National Investment Bank.
Read more here.
Munro EV Gains £2M to Rev Up Production
“Mining companies, defence interests and construction firms are actively seeking alternatives to diesel-powered vehicles, both to meet sustainability targets and reduce operational costs. This investment validates the critical need for zero-emission solutions in heavy industry,“ said Russel Peterson, co-founder and chief exec of Munro EV.
Read more here.
Hutton Institute Wins £3M Boost For High Tech Crop Research
The James Hutton Institute has received a £3 million investment from Scottish Enterprise for its new high-throughput phenotyping facility, part of the Advanced Plant Growth Centre (APGC), housed in its Crop Innovation Centre.
Using sensors and lasers to map, the facility will allow researchers to assess a plant’s architecture and genetic health, to provide a faster route to market for plant breeders serving the agriculture, horticulture, pharmaceutical and food and drink sectors.
As an open platform, the JHI said the new facility will allow national and international collaboration to attract projects that across academia and industry, and ensure a whole sector approach committed to sustainable agriculture.
Scottish Enterprise’s investment comes in addition to £62 million invested through the Tay Cities Region Deal, which funded two innovation centres in partnership with the University of Dundee Plant Sciences Division.
“By leveraging Hutton expertise in genetics, we will enhance industry collaboration to bring the new varieties needed to support agriculture more quickly,” said Rob Hancock, deputy director of the APGC.
Read more here.
Scottish Startup Mapify Joins Antler’s £1.7M Cohort
Scottish AI startup Mapify has secured investment from global VC Antler to expand its AI-powered logistics and asset management platform.
The AI-powered platform, developed for logistics and asset management across warehousing, transport and infrastructure, has been selected as one of fourteen UK startups to receive investment from Antler, which also backed Lovable, the fastest-growing startup in Europe.
The company is the only Scottish startup included in Antler’s investment round following its latest London residency, where Mapify was selected from a pool of almost one hundred other early-stage ventures.
Mapify’s platform already supports several clients, uncovering significant inefficiencies adding up to millions of pounds a year in savings through its real-time dashboards.
“These tools have the potential to save enterprise customers millions, while making operations more efficient and resilient. Antler’s backing allows us to accelerate product development and bring advanced AI features, like our conflict resolution engine, to market faster,” said Selby Cary, CPTO at Mapify.
Read more here.
Five Scottish Fintechs Win £50K in FRIL Innovation Call
The Financial Regulation Innovation Lab (FRIL) has announced the five organisations selected to receive grants following its latest Innovation Call, developed in collaboration with FinTech Scotland, Supertech WM, the University of Glasgow and the University of Strathclyde.
Over a six-week programme, innovators worked with the likes of Sword Group, NatWest, Morgan Stanley, Pinsent Masons, Tesco Bank, Aberdeen, KPMG, and EY to refine and adapt their solutions to real industry needs.
Following the programme’s showcase day, five Scottish companies were selected to receive £50,000 each to continue to work with industry partners, with the grants supporting the development and deployment of their solutions.
Among the fintechs chosen for awards were Profylr, Ionburst, HAELO, Continuity2, and Lupovis.
“Operational resilience is essential for a trusted financial services industry. Through the Financial Regulation Innovation Lab, we’re seeing fintech innovation directly address these priorities, shaping practical solutions that strengthen the UK’s financial infrastructure,” said Nicola Anderson, FinTech Scotland’s former chief executive.
Read more here.
Glasgow Spinouts Win £540K Boost to Turn Research Into Innovation
Three Glasgow University spinouts have successfully secured proof-of-concept funding from the Scottish Government to help them turn academic research into industries of the future.
CRYSTAL-Q won £247,225 to support the development of a pathway towards widespread adoption of quantum computers, while more than £168,000 will go to the team behind the ‘DisrupTR’ platform, a project aiming to develop next-generation precision peptide medicines targeting diseases with the greatest unmet clinical needs.
Meanwhile, a project led by the Critical Technology Accelerator team will receive £125,000 to develop an optical coupler – a technology that promises to lower costs and increase performance across a range of optical interfacing challenges.
The investments form part of the Scottish Government’s new £2.9 million Proof of Concept (POC) Fund, designed to support projects from Scottish universities at various stages of technological and commercial development, and allow room for crucial early-stage activities.
“This funding is a tremendous endorsement of the talented and ambitious researchers at the University of Glasgow,” said Uzma Khan, vice principal for innovation and economic development.
Read more here.
£17.3M Boost for Aberdeen’s Energy Transition Zone
ETZ Ltd, the not-for-profit, private sector-led company spearheading North East Scotland’s energy transition, is to receive a £17.3 million funding boost from the UK Government, Scottish Secretary Douglas Alexander confirmed during a visit to Aberdeen on 30 October.
The funding will accelerate the development of ETZ Ltd’s flagship project, the Energy Transition Zone, located adjacent to the recently redeveloped Aberdeen South Harbour, which now features deepwater berths and infrastructure designed to support offshore wind manufacturing.
Meanwhile, the surrounding land is being transformed by ETZ into a clean energy hub, with the £17.3 million investment set to help prepare the site for new businesses to move in, encouraging the creation, growth and co-location of companies within the renewable energy supply chain.
“To ensure North East Scotland remains a thriving hub of energy excellence, we must have government and industry working in partnership to support our world-class supply chain who will lead the delivery of the vast pipeline of energy transition projects, particularly offshore wind, on our doorstep,” said Maggie McGinlay, Chief Executive of ETZ Ltd.
Read more here.
MI:RNA secures funding for AI tool to diagnose osteoarthritis earlier in dogs
Veterinary diagnostics firm MI:RNA has secured Scottish Enterprise funding to develop a non-invasive AI-powered test using microRNA biomarkers to detect osteoarthritis in dogs earlier and more accurately.
The funding will allow MI:RNA’s research team to utilise blood samples from selected dogs, equally split between those diagnosed with OA and healthy controls, work supported by Morris Animal Foundation’s Golden Retriever Lifetime Study.
Osteoarthritis is one of the most common conditions affecting dogs, but remains difficult to diagnose. Current diagnostic methods rely on clinical observation and imaging, which are often invasive, expensive, and subjective. By enabling earlier detection, the new approach could significantly improve clinical outcomes and quality of life for affected animals.
“We aim to give veterinarians a smarter and faster way to detect osteoarthritis, improving outcomes earlier for dogs,” said Robert Coultous, chief scientific officer at MI:RNA.
The tool will improve diagnosis while reducing the need for complex imaging or subjective interpretation. For the estimated 10 million dogs and their owners in the UK, this means earlier diagnosis, more effective treatment and healthier pets.”
Deals
Pulsant Completes Five-Year, £187M Refinancing Deal
Edge infrastructure provider Pulsant has completed a major refinancing deal, securing £187 million in expanded debt facilities and bringing four new lenders on board, strengthening its financial position and supporting future growth.
The refreshed five-year facility, which includes the option to draw down an accordion if further debt capacity is required, will support Pulsant’s expansion across the UK, with a focus on acquisitions and the development of the firm’s portfolio of fourteen sovereign data centres.
It will also allow the firm to progress its high-speed, low-latency network and hybrid cloud capabilities via the Pulsant platformEDGE offering, as well as improve the operational performance and resilience of the entire Pulsant estate.
This latest deal is the latest in a series of milestones for Pulsant this year, with the business having completed the acquisition of two regional data centres from SCC, as well as launching Partner Cloud, an Infrastructure as a Service (IaaS) offering for partners looking to expand their cloud reach.
“We are very pleased to be working with some fantastic lenders who are supporting our strategic goal of creating the UK’s leading-edge platform,” said Brad Petzer, Pulsant’s CFO.
Read more here.
Acquisitions
Lyft Acquires Glasgow-based TBR Global Chauffeuring for £83M
Glasgow transportation services firm TBR Global Chauffeuring has been acquired by San Francisco ride booking company Lyft in an £83 million cash deal, with additional contingent costs expected in the acquisition.
The tie-up will see Lyft’s tech stack paired with TBR’s fleet of independent, professional chauffeurs, bringing together automated ride-booking and expertise in executive, event, and corporate transport.
TBR currently operates across 120 countries and over 3,000 cities, while Lyft serves 23.7 million users globally. Though Lyft’s customer base is largely North American, its acquisition of the Free Now app marked a key step into the European market.
“We are pleased to have supported the team at TBR Global Chauffeuring on this significant cross-border transaction,” Brian Moore, who led Dentons, the team that advised TBR in the acquisition, said.
Read more here.
Themis Acquires Edinburgh-based Fraud Monitoring Firm Pasabi
Themis, a certified B-Corp focused on the use of AI in tackling financial crime, has announced the acquisition of Edinburgh-based fraud monitoring company Pasabi.
The transaction will integrate Pasabi’s fraud prevention platform into Themis’ operations. According to the company, this will accelerate its product roadmap by several years and broaden its capabilities in fraud detection, social media monitoring and transaction monitoring.
The companies said the integration has already been completed and that cultural alignment between the two organisations helped support the process. The deal was backed by Quadri Ventures, a venture capital firm investing in enterprise software companies worldwide.
“We’re thrilled to become part of Themis. Not only are we culturally aligned, with a shared devotion to combating fraud and financial crime, our platform is a perfect complement to Themis’ leading ecosystem,” said Chris Downie, CEO and co-founder of Pasabi.
Read more here.
Cooper Parry Acquires URM Consulting Services
Cooper Parry, the self-styled ‘Rebels of Accountancy’, has announced the acquisition of cyber firm URM Consulting Services (URM), marking the professional service firm’s seventeenth acquisition since early 2023, and the fifth since partnering with New York private equity firm Lee Equity Partners five months ago.
Cooper Parry said the acquisition of URM pushes its pro forma turnover beyond £240 million, with the firm aiming to hit £600 million by 2028, and an ambitious £1 billion by 2030.
The acquisition will see URM anchor the cyber and information security offering at the core of Cooper Parry’s digital consulting business, building on the cybersec consultancy’s expertise across data protection, business continuity, and risk management.
“For 20 years, URM has built an outstanding reputation for providing high-quality, tailored consultancy and training services,” said Lisa Dargan, URM’s CEO.
“Acting as the cybersecurity cornerstone within the CP group, we’ll be able to offer existing and future clients truly integrated assurance services across all areas of business risk and further strengthen and develop our service offering”
