VC and investments team advises on £3m investment for University of Oxford spinout

Our venture capital and investments team has advised Mode Labs on its £3m funding round to transform chemical sensing.

The investment was led by Oxford Science Enterprises, UOIF (University of Oxford Investment Fund) and GK Goh Ventures participating.

Mode Labs has developed a new chemical sensing platform that will deliver plug-and-play laboratory measurement capabilities in the field, with 10,000x increased sensitivity, 6x longer deployments, at 10% of the cost of existing solutions.

Spun out from the University of Oxford, Mode Labs, which is based at Begbroke Science Park in Oxfordshire, is the result of more than 15 years of research at the University’s Chemistry and Materials Departments. The founding team includes Professors Claire Vallance and Jason Smith, alongside CEO Dr Dean James and Head of Engineering Dr Daniel Miles-Barrett.

Mode Labs’ patented platform technology can be expanded to measure almost any analyte in liquid, with applications across water quality monitoring, wastewater treatment, aquaculture, and security markets. Using technology originally designed for quantum computing, Mode Labs’ technique uses 1,000x less chemical reagent and 400x less power than existing systems, enabling long-term deployment of robust miniaturised devices in even the most challenging of locations.

Dr James said: “This investment will unlock access to precision chemical monitoring for anyone, anytime, anywhere. With low-cost plug-and-play devices we can deliver clear and concise measurement data where it is needed most. Working with our customers, our mission is to protect the environment and human health by monitoring and reporting changes to our ecosystems in real-time, allowing for immediate intervention.

“The support of the Mills & Reeve team in navigating the spinout process was invaluable. They quickly became a trusted part of our team and were with us every step of the way. It was a pleasure to work with them.”

The team supporting Mode Labs was led by Zickie Lim (partner and head of venture capital and investments) and Alex Woolgar (partner, intellectual property), with further support from William Downing (partner, employment and head of Oxford office), Owen Henderson (venture capital and investments) and Jessica Mason (intellectual property).  

Zickie said: “It is always exciting to advise spinout companies formed to turn promising science into real-world benefit. It was a pleasure to collaborate with the Mode Labs team, Oxford University Innovation, and Oxford Science Enterprises, Parkwalk Advisors and other investors to help make this happen. Mode Labs’ technology has huge potential, and we are looking forward to working with the Mode Labs team in future as the company grows.”

Alex added: “It has been a professional and personal highlight to work with Dean, Claire and the whole Mode Labs team on this transaction. The amount of work that goes on behind the scenes, by founders and the broader University ecosystem, to form a spinout, is considerable, and it is always a privilege to be trusted to play a part in this. The technology addresses an area of genuine and growing need and stands to have a positive environmental impact, to everyone’s benefit. Oxford is full of potential, and we are excited to play our part in helping many more spinouts and startups in their journeys.”      

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