SCI Semiconductor Secures £5 Mn to Accelerate Memory-Safe Chip Production

The funding round was heavily oversubscribed, meaning the company received more investor interest than the amount it planned to raise.

The round was led by PXN Ventures and Mercia Ventures, two fund managers of the Northern Powerhouse Investment Fund II (NPIF II). Other investors included cybersecurity seed investor Osney Capital, U.S.-based Black Opal Ventures and several private investors.

According to Haydn Povey, CEO, the problem of memory safety is finally being taken seriously. “As AI is identifying hundreds of critical vulnerabilities, it is clear that huge swathes of technology are open to attack. Additionally, with so much code generated by AI, the question is how much of it is fit for purpose and what risk that could pose to systems. Since unveiling our ICENI chip earlier this year, demand has been overwhelming. The funding will enable us to step up production and develop a new generation of chips here in the UK.”

Will Schaffer, Investment Director at Mercia Ventures, added: “SCI Semiconductor brings together some of the leading minds in the industry. They have developed an elegant solution to a trillion-dollar problem – one that has so far eluded other players – and the business has quickly gained traction.”

SCI Semiconductor was founded in 2022 by Haydn Povey, Krishna Anne and Dr. David Chisnall. The founders have experience in the technology and semiconductor industries.

The company was also joined by academics from the Universities of Cambridge and Manchester, who brought additional research and technical expertise to the team.

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