About Low Carbon Innovation Fund
Low Carbon Innovation Fund is a venture capital firm founded in 2010. It is primarily based out of Weybridge, United Kingdom. As of Sep 2026, Low Carbon Innovation Fund is an active investor, having invested in 39 companies, with 1 new investment in the last 12 months. It primarily invests in Seed round in United Kingdom based startups. Its investments are spread across a wide range of sectors from High Tech to Enterprise Applications and Environment Tech. Most recently it participated in the $***** Series A round of Adaptavate Overall, Low Carbon Innovation Fund portfolio has seen 1 IPO and 5 acquisitions including key companies like TeraView, SaveMoneyCutCarbon and Syrinix. A lot of funds co-invest with Low Carbon Innovation Fund, with names like Turquoise sharing a substantial percentage of its portfolio. Low Carbon Innovation Fund has team of 1 people.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 2 more
Portfolio IPOs
Portfolio Acquisitions
Deals in last 12 months
Low Carbon Innovation Fund's List of Top Investments
Low Carbon Innovation Fund has a portfolio of 39 companies. Their most notable investments are in Spark and Switchd.Their portfolio spans across and United Kingdom. They have invested in High Tech, Enterprise Applications, Environment Tech and 21 other sectors, across stages such as Seed, Series A and 2 more. Here is the list of top investments by Low Carbon Innovation Fund:
1. PhaseCraft
Provider of quantum simulation systems. The company is providing quantum theory and software that will enable quantum computers to investigate novel quantum materials to simulate chemical reactions and to solve hard constraint satisfaction problems. It also provides users with a platform that offers proprietary material simulation approaches for encoding and compiling materials on quantum hardware.
Key facts about PhaseCraft
- Founded Year: 2019
- Location: Bristol (United Kingdom)
- Stage: Series B
- Total Funding till date: $56.4M
- Employee Count: 31 as on Feb 28, 2025
- Investors: UCL Technology Fund, Episode 1 Ventures and 14 Others
- Latest Funding Round: Series B, Sep 02, 2025, $*****
- Highlight: Editors' Pick
2. Adaptavate
Manufacturer of carbon-negative construction materials for sustainable building. The company develops wallboards, plasters, and insulation products using bio-based, compostable ingredients that absorb atmospheric carbon dioxide. Its solutions replace conventional materials in new construction and retrofit projects, improving environmental performance and indoor air quality.
Key facts about Adaptavate
- Founded Year: 2014
- Location: Bristol (United Kingdom)
- Stage: Series A
- Total Funding till date: $14.4M
- Employee Count: 24 as on Sep 30, 2026
- Investors: Low Carbon Innovation Fund, European Innovation Council and 13 Others
- Latest Funding Round: Grant (prize money), Sep 23, 2026, $*****
- Highlight: Editors' Pick
3. TeraView
Manufacturer of terahertz imaging systems for industrial inspection and analysis. These systems utilize terahertz light to perform non-destructive measurements of multi-layer coatings, material thickness, and density. Applications include fault isolation in semiconductor packaging, inspection of battery electrodes, and quality control for polymer films and automotive paints. The technology provides data for material characterization and defect detection in production environments.
Key facts about TeraView
- Founded Year: 2001
- Location: Cambridge (United Kingdom)
- Annual Revenue: £0 - £1M as on Apr 30, 2025
- Stage: Public
- Total Funding till date: $21.5M
- Employee Count: 52 as on Sep 30, 2026
- Investors: ET Capital, Amadeus and 33 Others
- Latest Funding Round: Grant (prize money), Jan 15, 2021, $*****
- Highlight: Public
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Key facts about SaveMoneyCutCarbon
- Founded Year: 2010
- Location: Bury St Edmunds (United Kingdom)
- Stage: Acquired
- Total Funding till date: $9.12M
- Employee Count: 46 as on Sep 30, 2026
- Investors: IW Capital, Low Carbon Innovation Fund and 4 Others
- Latest Funding Round: PE, May 15, 2023, $*****
- Highlight: Acquired
5. Kubos
Developer of high end LEDs for various application. It claims to manufacture LEDs that are used and applied in visual signs, street lights, micro-LED displays, automotive, skincare, mood lighting, RGB based white source lighting, and warm white lights.
Key facts about Kubos
- Founded Year: 2017
- Location: Cambridge (United Kingdom)
- Valuation: $*****
- Stage: Series A
- Total Funding till date: $8M
- Employee Count: 10 as on Aug 31, 2026
- Investors: Innovate UK, Low Carbon Innovation Fund and 89 Others
- Latest Funding Round: Series A, Aug 04, 2026, $*****
- Highlight: Editors' Pick
Low Carbon Innovation Fund's Year-on-Year Investment Trends
Low Carbon Innovation Fund has invested in 39 companies over the last 15 years, with an average of 2 new investments annually in the last 10 years. As of Sep 2026, it has made 3 investments in this year. Its most recent first time investment was in Advanced Electric Machines and most recent follow-on round was in Adaptavate.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 1 | 2 | 3 |
2025 | 0 | 0 | 0 |
2024 | 0 | 0 | 0 |
2023 | 5 | 4 | 9 |
2022 | 2 | 2 | 4 |
2021 | 10 | 0 | 10 |
2020 | 3 | 0 | 3 |
Low Carbon Innovation Fund's Investments by Stage
Low Carbon Innovation Fund has made 13 investments in Seed stage with an average round size of $1.48M, 11 investments in Series A stage with an average round size of $5.34M, 1 investment in PE stage with an average round size of $6.22M and 1 investment in Series B stage.Stage of entry | No. of Investments |
|---|---|
Seed | 13 |
Series A | 11 |
PE | 1 |
Series B | 1 |
Note: We have considered here, only first round of investments
Low Carbon Innovation Fund's Investments by Sector
Low Carbon Innovation Fund has a diverse portfolio, with companies operating in the Environment Tech, Sustainability Tech, High Tech, Enterprise Applications and Semiconductors. Notably, it has invested in 30 Enterprise (B2B) companies, 27 Tech companies, 13 Software companies and at least 11 companies focusing on Consumer (B2C).Sector | No. of Investments |
|---|---|
Environment Tech | 9 |
Sustainability Tech | 9 |
High Tech | 8 |
Enterprise Applications | 6 |
Semiconductors | 5 |
Others | 36 |
Note: We have considered here, only first round of investments
Low Carbon Innovation Fund's Investments by Geography
Low Carbon Innovation Fund has made most investments in United Kingdom (26).Low Carbon Innovation Fund's recent investments
Low Carbon Innovation Fund has made 3 investments in 2026 so far. Adaptavate and Advanced Electric Machines are the latest among them.Here are the most recent investments by Low Carbon Innovation Fund:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Sep 23, 2026 | United Kingdom | Series A | 6288 | - | |
Aug 04, 2026 | United Kingdom | Series A | 4314 | [+2] | |
Aug 04, 2026 | United Kingdom | Series A | 6478 | ||
Oct 05, 2023 | United Kingdom | Seed | 5061 | ||
Sep 14, 2023 | United Kingdom | Seed | 9928 | - |
IPOs and Publicly Listed companies in Low Carbon Innovation Fund's Portfolio
1 of Low Carbon Innovation Fund's portfolio company became public - TeraView. It got listed on the Korea Exchange (KRX), in Dec 2025 at marketcap of $193MHere are Low Carbon Innovation Fund's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Dec 09, 2025 | Oct 21, 2015 | Series A | 3630 |
Acquired companies in Low Carbon Innovation Fund's Portfolio
5 companies from Low Carbon Innovation Fund's portfolio have been acquired. The most recent acquisition was SaveMoneyCutCarbon in Dec 2025 by Haydale for $*****.Here are Low Carbon Innovation Fund's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Dec 12, 2025 | May 15, 2023 | PE | 6817 | |
Jan 05, 2023 | Mar 29, 2013 | Series A | 2210 | |
Sep 16, 2020 | Oct 25, 2013 | Seed | 3721 | |
Nov 16, 2017 | Jun 27, 2011 | Series A | 2348 | |
Dec 19, 2016 | - | - | 1477 |
Team profile of Low Carbon Innovation Fund
Low Carbon Innovation Fund has a team of 1 member located in United Kingdom. Low Carbon Innovation Fund's team does not sit on the board of any company as of now.Co-investors of Low Carbon Innovation Fund
Over the past 15 years, 124 investors have co-invested in Low Carbon Innovation Fund's portfolio companies. This includes funds and angels.
- Invested before Low Carbon Innovation Fund: Low Carbon Innovation Fund, Parkwalk and 57 others have invested in rounds before Low Carbon Innovation Fund. There are 5 companies where Low Carbon Innovation Fund has invested before Low Carbon Innovation Fund and 2 companies where Parkwalk has invested before Low Carbon Innovation Fund.
- Top Co-investors of Low Carbon Innovation Fund: 32 investors entered a company along with Low Carbon Innovation Fund. These include investors like Turquoise (8 companies).
- Invested after Low Carbon Innovation Fund: A total of 33 investors have invested in Low Carbon Innovation Fund's portfolio after their investments. Top Investors include Turquoise (2 companies), Plural (1 company) and Novo Holdings (1 company).
Recent News related to Low Carbon Innovation Fund
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Kubos Secures Over $2.1 Million Investment to Accelerate Cubic-Phase GaN Technology DevelopmentSemiconductor Today•Aug 04, 2026•Low Carbon Innovation Fund, Kubos, Development Bank of Wales
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Cellexcel Raises Over £250K in FundingFinSMEs•Mar 14, 2024•Cellexcel, College Green Ventures, New Anglia Local Enterprise Partnership, Anglia Capital Group and 2 others
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RheEnergise secures equity investment for pumped hydroModern Power Systems•Feb 18, 2024•RheEnergise, Low Carbon Innovation Fund, Low Carbon Innovation Fund
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Low Carbon Innovation backs enviro firm Weeding TechnologiesAngel News•Jan 19, 2024•Low Carbon Innovation Fund, Turquoise, Weedingtech
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Advanced Electric Machines Receives £23M in Series A FundingFinSMEs•Nov 23, 2023•Advanced Electric Machines, Legal & General Capital, Barclays, Northstar Ventures and 4 others
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Environmental fund invests in climate-tech SKOOT, as it reaches 1 tree milestoneBdaily•Sep 15, 2023•Low Carbon Innovation Fund, Turquoise, SKOOT
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Phasecraft raises £13m Series AElectronics Weekly•Aug 17, 2023•PhaseCraft, Playground, AlbionVC, Episode 1 Ventures and 3 others
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UK-based university spinout Phasecraft raises £13M to fuel quantum algorithm development for real worldTech Funding News•Aug 16, 2023•PhaseCraft, Playground, Episode 1 Ventures, Parkwalk and 2 others
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Quantum algorithm startup Phasecraft raises £13m in Series ABusiness Leader•Aug 16, 2023•PhaseCraft, Playground, Episode 1 Ventures, Parkwalk and 3 others
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Bristol-based Phasecraft bags €15M to accelerate practical application of quantum computingSilicon Canals•Aug 16, 2023•PhaseCraft, Playground, Episode 1 Ventures, Parkwalk and 2 others
