10th June 2025
Successful £1.4M Seed Round for Teal
We initially invested in Teal’s pre-seed last year and are thrilled to announce that Teal has now raised £1.4 million in seed funding led by Passion Capital, with participation from ACF Investors, K Fund, and prominent angel investors. Avonmore invested again into the seed round.
This funding will help them bring instant income and employment verification to millions across the UK and redefine how lenders assess risk in the modern credit landscape.
2nd June 2025
Exit from CareLineLive
We are delighted to annouce Avonmore’s successful exit from domicilary care software provider, CarelineLive to Accel-KKR.
Having been the initial external funders into the business in 2017, CarelineLive now serves 650 clients in seven countries, generating revenues of over £3.5 million, helping 25,000 carers deliver better care and home care companies improve operations and regulatory compliance.
This exit delivered a strong profit to Avonmore and we thank Josh and the rest of his team for all their hard work over the years and wish them every success going forward!
29th March 2025
New Portfolio Company, Taxo AI
Great to see this Techcrunch coverage of the $5M Taxo (YC S24) funding round - a 2024 angel investment alongside Y Combinator and General Catalyst
Taxo (YC S24) is building an artificial intelligence reasoning engine for healthcare administration, to reduce the burden on physicians so that they can spend more time on patient care.
[And they have already hit $1M ARR, 6 months from launch]
19th March 2025
Major Award for Polaron
Portfolio company Polaron has just won the £1M Manchester Prize!
The Manchester Prize is a prestigious annual award established in 2023, funded by the UK’s Department for Science, Innovation and Technology. It grants £1 million to innovators developing cutting-edge AI solutions that address societal challenges and promote public good.
Polaron is a UK-based AI company that accelerates the design of advanced materials by leveraging generative AI which we invested into in early 2024. Their technology analyzes microstructural image data to rapidly optimize material properties, significantly reducing development time from years to days.
Congratulations to Isaac Squires, Steve Kench and the rest of the Polaron team.
5th March 2025
Successful Series A raise for Epoch Biodesign
Congratulations to Epoch Biodesign on their oversubscribed $18.3M Series A 🚀
We initially invested in 2021 and are delighted to have invested once again into this groundbreaking company lead by Jacob Nathan. The round was led by Extantia with participation from fashion giant Inditex and other existing investors such as Lowercarbon Capital.
Epoch Biodesign is at the forefront of using AI and synthetic biology to engineer enzymes that break down hard-to-recycle plastics into reusable materials and chemicals, promoting a circular economy.
Their innovative approach aims to reduce environmental impact by transforming plastic waste into valuable resources.
A full breakdown on what Epoch are doing is here
25th February 2025
Successful Series B raise for Shop Circle
Congratulations to Avonmore portfolio company Shop Circle on their $60M Series B announcement 🚀
The round was led by Nextalia Ventures, alongside Endeavor Catalyst and received continued support from existing insitutuational backers such as QED Investors and NFX.
Avonmore invested in their pre-seed and seed rounds back in 2021 and 2022. With 110% year-over-year revenue growth and profitable for the last 2 years, Shop Circle has a clear vision for expanding from e-commerce apps to a full-service, AI-powered, B2B software platform through targeted acquisitions.
10th February 2025
New Portfolio Company, Astral Systems
Avonmore has recently invested into Astral Systems, a Bristol-based deeptech company revolutionizing medical isotope production, alongside Playfair, Speedinvest and fellow Cambridge Angels. Astral has secured £4.5 million to advance their groundbreaking work of bringing nuclear fusion technology directly into healthcare
Why This Matters:
Tackling Medical Isotope Shortages - There is a growing number of drugs in clinical trials that use radioisotopes but a declining number of radioisotope sources, such as traditional nuclear plants.
On-Demand Production - Astral’s compact fusion reactors can be placed directly in hospitals, ensuring a reliable supply of difficult to transport, short half-life isotopes, for cancer treatment and diagnostics.
Pioneering Fusion Tech - Their Multistate Fusion (MSF) reactors are more efficient and cost-effective than conventional methods.
31st January 2025
2024 in Review
In 2024, a total of £382k was invested, with allocations across SEIS (31%), EIS (37%), and non-tax-benefited investments (32%).
Geographically, 90% of the £ investments were in the UK, with the remaining 10% overseas.
Avonmore added seven new portfolio companies in fintech, medical devices, nuclear fusion, AI-driven material discovery, cybersecurity, and healthtech, while also participating in four follow-on rounds. All of these have not been announced publically, hence the lack of news features in 2024…
In terms of returns, Avonmore saw one exit, and three portfolio companies now pay regular dividends.
Looking forward to 2025!