Scottish tech firm Chemify raises £36m for digital chemistry revolution

Scottish tech firm Chemify raises £36m for digital chemistry revolution

Professor Lee Cronin

Chemify, a company specialising in digital chemical technologies, today announced the completion of a funding round worth £36 million.

The round was led by Triatomic Capital and supported by investors including Horizon Ventures, Rocketship Ventures, Possible Ventures, Alix Ventures, Scotland-based Eos, and the UK government Innovation Accelerator programme. Existing investor BlueYard Capital also participated.

Founded in 2019 by CEO Lee Cronin with backing from David Cleevely (co-founder of Abcam), Chemify spun out from the University of Glasgow in March 2022, building on decades of research in the fields of chemistry, robotics, AI, and digital advancement. Professor Cronin’s innovative work at the University of Glasgow has enabled exploration of chemical space, radically transforming the process of discovering and developing new molecules.

The investment will help Chemify accelerate the development of promising molecules in sectors such as medicine, farming, materials science, and green energy, significantly reducing time and costs. The platform has proven its ability to synthesise complex molecules, enabling drug discovery, and designing new materials for high-value applications.

Prof Cronin said: “It has long been our dream to digitise chemistry, and I’m delighted that through this funding, Chemify is building a company that can design, make, and discover complex molecules on demand using digital blueprints on demand faster, more efficiently, and safely than is currently possible.

“Our mission is to deliver better molecules for pharmaceutical and industrial partners in a fraction of the time and cost currently required.”

Over £25m has been invested in the foundational research behind Chemify, developing a digital chemical approach that allows for the programming of chemistry. The company’s mission, as articulated by Prof Cronin, is to digitise chemistry, making complex molecules on demand faster, more efficiently, and safely, in a fraction of the current time and cost.

Secretary of State for Scotland, Alister Jack, said: “It was fascinating to visit the University of Glasgow yesterday and hear about all the excellent work they are doing.

“The UK government is backing the UK science, technology, and innovation sectors with record levels of funding including £33m towards the Glasgow City Region (GCR) Innovation Accelerator (IA).

“The new funding announced today by Chemify, Ltd, which is one of the projects supported by the GCR IA, is a great example of our levelling up agenda in action with the public and private sectors working together to help unlock further funding, a clear demonstration of Scotland’s vital role in keeping the UK at the forefront of global science and research.”

Steve Hochberg from Triatomic Capital added: “We are excited to be leading the series A in Chemify focusing on delivering digital-chemical solutions to many partners where molecular design and manufacturing is a critical bottleneck.”

Minister of State at the new Department for Science, Innovation and Technology, George Freeman said: “To ensure we meet our ambition of being a science superpower by 2030, we need better commercialisation of UK innovation. With the right backing, we can make a success of spinning-out businesses in every part of the country.

“This announcement from Chemify, which is developing ground-breaking digital techniques for chemistry, shows how Glasgow City Region’s world-leading expertise is already succeeding in attracting high levels of private sector investment, and shows the huge potential for UK spin-outs and scale-ups right across the UK.

“Our Innovation Accelerator programme is providing £100m to three high-potential regions – Glasgow City Region, Greater Manchester, and West Midlands - helping to attract investment and become globally competitive centres for research and innovation.”

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