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How SEGCP investment is helping DeepMatter to grow

DeepMatter laboratory equipment

How SEGCP investment is helping DeepMatter to grow

DeepMatter is an innovative chemistry technology company based in Glasgow. Find out how support from the Scottish-European Growth Co-investment Programme (SEGCP) is helping the company to expand its workforce and cement its long-term development strategy.

Transforming the chemistry industry

Glasgow-based chemistry technology company, DeepMatter, has developed a platform that transforms chemistry into digital code, making it recordable, reproducible and shareable.

It uses Artificial Intelligence (AI) and Machine Learning (ML) to create a rich data environment that can connect to multiple sources — providing valuable insights that have never been available before.

 

DeepMatter laboratory equipment

SEGCP investment

DeepMatter received investment through the Scottish-European Growth Co-Investment Programme (SEGCP) — an innovative partnership between the Scottish Investment Bank, the investment arm of Scottish Enterprise (SE), and the European Investment Fund (EIF). It aims to increase the availability of later-stage equity investment, by providing up to 50% match funding to support company growth in Scotland.

DeepMatter secured investment from IP Group, an intellectual property commercialisation company, and so was able to attract co-investment from EIF and SE through the programme.

Expanding workforce

DeepMatter used the SEGCP investment to expand its Glasgow-based workforce and improve the development of its DigitalGlassware™ platform.

Mark Warne, CEO of DeepMatter Group said, “As a young business, this additional capital from SEGCP has enabled us to increase our rate of growth. It’s provided us with the funds to both hire more experts, and to improve the technological development of our DigitalGlassware™ platform.

“Ultimately, the investment has accelerated us towards our end goal: transforming the chemistry industry by integrating chemistry with technology, enabling a greater use of artificial intelligence and reaching a point where chemicals can be autonomously synthesised through robotics.”

Image, Mark Warne, CEO of DeepMatter Group

Mark Warne CEO DeepMatter

The path to market

Mark said, “Scottish Enterprise understood DeepMatter’s growth aspirations and our financial requirements for development, recognising how access to capital like this could accelerate the pioneering work that DeepMatter does in the cheminformatic space.

“Scottish Enterprise play an important role in supporting companies like ours who are committed to building a sustainable business here in Scotland. SEGCP support has allowed us to expand our Glasgow-based workforce, adding further software developers and data scientists to our existing team of experts.”

Mark continued, “The funding from Scottish Enterprise has allowed us to access additional institutional investment as part of that funding round. Without this funding we wouldn’t have been able to do that.

“So, it’s made a significant contribution towards our path to market and the ongoing growth of the DeepMatter business.”

Pioneering, integrated platform

Mark said, “We plan to continue with the technological development of our platform, DigitalGlassware™, which is a pioneering integrated software, hardware and machine learning enabled platform that allows chemistry experiments to be recorded, coded and entered in to a shared data cloud.

“The platform enables scientists to work together effectively, sharing the details of their experiments in real-time — saving money, time and ultimately helping discoveries to be made faster. At the moment, the platform is deployed across seven pioneer partners around the world, providing valuable insight into the power of the platform and the benefits it can bring to the scientific community.”

Next step

Read more about SEGCP funding and how the programme could help grow your business.