May 2024 Newsletter

Welcome to your monthly round-up of everything Tech in the Cambridge cluster.

April was packed with activity and growth across the City. We published four new episodes of the podcast, the recaps of which are down below in case you missed anything of interest.

April's Cambridge Tech news included:

• The headline grabber for the month was the blockbuster sale of Darktrace for $5.3bn to US private equity firm Thoma Bravo; read more here.
• Breast cancer pioneer Endomag is to be acquired by Hologic Inc – a NASDAQ-quoted firm based in Marlborough, Massachusetts – for $310 million. Endomag develops and sells breast surgery localisation and lymphatic tracing technologies.?
• Cambridge AI technology company Luminance announced a $40 million Series B funding round as it continues to drive innovation in the legal AI market.
• Investors from China and Hong Kong have backed the $21 million Series B round for Cambridge-based CN Bio . Beijing-based Bayland Capital and founding shareholder CN Innovations Holdings Ltd from Hong Kong are to invest $10m and $5.5m, respectively.
• Cambridge biotech company Qureight raised a massively oversubscribed Series A round of $8.5 million.

A number of early-stage financings were also announced in April including:

• Sparxell who raised $3.2 million, they have discovered ways to replicate vibrant colours in nature using fully plant-based cellulose, a renewable, biodegradable resource that can be extracted from waste streams.
• SuperSharp , secured more than ￡2 million in projects to develop innovative space telescopes designed to capture ultra-high resolution images of earth’s surface which has the ability to resolve individual buildings and capture entire cities in a single pass.

Whilst two local firms reported important growth in their business:

• Checkit launched Asset Intelligence which applies advanced analytics and Machine Learning to IoT data and announced new contract wins from two existing customers worth a minimum of ￡417,000 in total lifetime revenue.
• Cambridge based quantum computing trailblazer Riverlane has been chosen by the Defense Advanced Research Projects Agency for Phase 2 of the Quantum Benchmarking programme. In the project, Riverlane is working with top-tier universities like? the University of Southern California and the University of Sydney as well as national laboratories such as Los Alamos National Laboratory (LANL)

Finally, a reminder to local Tech event organisers - we are now spotlighting events that are relevant to the region's Tech audience. If you have an event you'd like us to feature, please send the details to [email protected].

If you are enjoying the podcast, please spread the word, to borrow from a popular supermarket; every little helps! Recaps of April's episodes are below.

Thanks,

Faye & James

cambridgetechpodcast.com | [email protected]

April 7th, Episode 82 - Would I Sci to You?

We bring you the ‘Would I Sci to You?’ event - the relevant but irreverent science panel show from Cambridge Science Centre .

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April 14th, Episode 83 - CKD with Tom Collings of Kalium Health

800 million people are affected by kidney disease around the world. Tom Collings talks to us about Kalium Health and how they help manage it.

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April 21st, Episode 84 - Public Success, Private Grief with Peter Cowley

CamTechPod was at the launch of Peter’s latest book Public Success, Private Grief in which he details the events which have shaped his life.

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April 28th, Episode 85 - UK Tech Week launched with Stuart Clarke MBE

This last week, UK Tech Week was launched, and a host of events took place across the UK in celebration.

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