Historically, Oxford-based startups have lagged behind their London and Cambridge counterparts in securing venture funding. However, this year, Oxford’s up-and-coming companies raised a combined €455 million (£378 million) across 28 deals, underscoring the potential of these innovative startups, according to Sifted. Analysts in the tech sector have highlighted several promising Oxford-based companies.
1. Salience Labs
- Founded: 2020
- Total Funding: €16.6 million (£13.8 million)
Salience Labs develops photonic chips that use light to transfer data, addressing bottlenecks in data centers where slow data transmission limits performance. The startup's technology aims to accelerate data center performance with faster and more efficient optical switches.
2. Fluorok
- Founded: 2022
- Total Funding: €12.93 million (£10.7 million)
Originating from chemist Veronique Gouverneur’s laboratory, Fluorok has created a chemical toolkit that eliminates the need for hydrofluoric acid, a hazardous substance used in producing essentials like pharmaceuticals and batteries. This technology has the potential to make the global chemical industry safer and more environmentally friendly.
3. Oxccu
- Founded: 2021
- Total Funding: €24.21 million (£20.1 million)
Oxccu’s team uses carbon dioxide (CO₂), hydrogen, and renewable electricity to produce eco-friendly fuels and chemicals. The company’s primary goal is to reduce the cost of sustainable fuel, helping decrease the carbon footprint of the aviation industry.
4. Quantum Dice
- Founded: 2020
- Total Funding: €2.38 million (£1.9 million)
A spin-off from Oxford University’s Quantum Optics Lab, Quantum Dice is pioneering secure random number generation technology, which can be applied in cryptography, game development, and various scientific research requiring complex simulations.
5. Lumai
- Founded: 2022
- Total Funding: €3.48 million (£2.8 million)
The team at Lumai is developing AI accelerators based on 3D optics, offering superior speed and energy efficiency compared to standard digital processors. The company’s technology could enhance data center performance, enabling faster processing of large data volumes.
6. Archangel Lightworks
- Founded: 2017
- Total Funding: €4.76 million (£3.9 million)
This aerospace startup focuses on laser communication systems to improve data transfer from space satellites to Earth. Founder and CEO Richard Johansson believes this technology will significantly boost the volume and quality of data received from space, advancing satellite communications.
7. Ochre Bio
- Founded: 2019
- Total Funding: €36.5 million (£30.3 million)
Founded by Jack O'Meara and Quin Wills, Ochre Bio is a biotech company developing RNA therapies for chronic liver diseases. Using miniature liver organoids and computational biology, the team is testing new treatments that could drive major advancements in liver disease research.
These startups represent some of the most exciting developments emerging from Oxford’s innovation ecosystem, contributing to advances in data processing, sustainable energy, biotechnology, and beyond.