HomeUKArchangels Invests £13.8M in Tech & Life Science Companies in 2023

Archangels Invests £13.8M in Tech & Life Science Companies in 2023


Archangels, an Edinburgh, Scotland, UK-based investment syndicate, invested more than £13.8m in eleven early-stage tech and life science companies in 2023. 

The total investment for 2023 represents a small increase on Archangels’ investment activity in 2022 (£13.4m).

The syndicate made two new investments including Bioliberty, who secured £2.2M to fund the development of its soft robotic glove and, more recently, 1nhaler who secured £2M to develop its unique dry powder inhaler device. 

Other portfolio businesses to receive follow-on funding included Cytomos, Calcivis, Administrate and BioCaptiva.

Co-investors on deals totalling £21.7M during 2023 included British Business Bank, Scottish Enterprise, Par Equity, Mercia and various Scottish angel syndicates. Earlier this year, Archangels bolstered its funding fire power through a £12m co-investment agreement with British Business Investments via its Regional Angels Programme.

The syndicate also exited medical AI company Blackford Analysis, which was acquired by Bayer. 

Founded in 1992, Archangels is a business angel syndicate investing in early-stage Scottish life sciences and technology companies. It comprises around 120 members and a 12 strong board and executive team. There are currently 20 companies within the portfolio.