Praetura Ventures names its second-ever NPIF II-funded PraeSeed cohort ahead of investing up to £1.4m to back ‘the next in the North’

Praetura Ventures has announced plans to invest up to £1.4m in northern startups this year through PraeSeed, marking the return of its cohort-based investment programme.

Now in its second year and backed by the Northern Powerhouse Investment Fund II (NPIF II) – Praetura Equity Finance, PraeSeed is designed to address the critical funding gap faced by early-stage and pre-revenue businesses across the north. Businesses chosen for the programme benefit from a blend of mentorship and practical workshops aimed at accelerating growth, with up to seven businesses receiving investment upon completion of PraeSeed.

This year, 12 businesses have been selected for the programme from well over 200 applications. They span sectors ranging from agricultural tech and renewable energy to a sleep tech business that has developed an innovative device to tackle obstructive sleep apnoea, which is estimated to impact 10% of the adult population.

The regions that make up PraeSeed’s 2025 cohort are also diverse, with founders from Lancashire, Yorkshire, Merseyside, Greater Manchester, Durham, Cumbria and Tyne and Wear each vying for an investment of £200k to help supercharge their growth journey.

The companies taking part in the six-week programme are: ADTechOptima, AUDITSU, Biohabit, Crediflow AI, Future Greens, Local Energy Systems, Microneedle Solutions, NeuWave Technologies, Plato, PneuMonitor, Respiosa and Spotlight Health.

Over the six weeks, each of the founders will have the chance to attend sessions hosted by industry insiders on everything from improving their pitch to finding product-market fit, as well as regular check ins with the Praetura Ventures investment team.

The programme then culminates in an in-person showcase event, attended by each business and Praetura’s co-investment network of VCs, advisers and angel investors.

Last year, PraeSeed invested in seven innovative businesses from across the North of England. This included WAC, a B2C tech company founded by George Fairhall that has created a platform for hourly workers to ensure they’re paid correctly and on time.

PraeSeed also backed Cumbria-based ScrubMarine, which has developed a submersible device to clean the buildup of algae and barnacles on the submerged surfaces of marine vessels. The technology aims to help the average container vessel save almost $40 million in annual fuel costs.

Jess Jackson, PraeSeed lead, is heading up the programme. It is funded through NPIF II – Praetura Equity Finance, which is managed by Praetura Ventures as part of the Northern Powerhouse Investment Fund II.

Jess said: “PraeSeed got off to a fantastic start last year, creating a real buzz around the businesses that took part – both in their respective markets and the wider VC landscape. Fast-forward to 2025 and we’ve been blown away by the quality of applications for this year’s PraeSeed, which has culminated in a very strong cohort of businesses that we’re tipping to be the next in the North. PraeSeed is our way of plugging the early-stage funding gap across the North and, together with the Northern Powerhouse Investment Fund II, we’re looking forward to doing just that for the second year in a row.”

Sue Barnard, Senior Investment Manager at British Business Bank, said: “This programme is a fantastic way to give founders the information and support they need to accelerate their growth. With investment from NPIF II, we’re looking forward to seeing how these innovative companies create new opportunities and economic growth for the North. Having access to finance, as well as mentoring, is a recipe for success and we’re excited by the creative and technological ideas within this year’s cohort.”

Following the completion of this year’s programme, PraeSeed will have invested up to £2.8m in startups across the North. The programme, which will initially run for five years, is planning to invest around £6m over its lifetime in line with the British Business Bank’s ambition to increase the flow of investment in regions across the North of England.

The £660m Northern Powerhouse Investment Fund II covers the entire North and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.

The purpose of the Northern Powerhouse Investment Fund II is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North. The Northern Powerhouse Investment Fund II will increase the supply and diversity of early-stage finance for Northern smaller businesses, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.

Louise Chapman, investment director and NPIF II fund principal at Praetura Ventures, said: “The government’s commitment to dedicate a £410m Local Innovation Partnerships Fund for regional authorities is incredibly encouraging for founders and investors in the North of England, who’ve spent years building and backing innovative businesses. These businesses are cementing the positions of regional cities on the world stage, particularly in fields such as AI, cybersecurity and healthcare. Expanding the capacity of the British Business Bank will also help accelerate this growth. We’ve seen first-hand the impact that regionally-focused funding can have, and founders have been emboldened by initiatives such as the Northern Powerhouse Investment Fund II.

“The North’s regions stand shoulder to shoulder with other parts of the UK and Europe – our knowledge assets and spin out businesses have been world-leading for decades – and major developments like the new Sister district in Manchester and the strength of established bases such as Alderley Park and Sci-Tech Daresbury are giving start-ups the platform to thrive. It’s also encouraging to see the government’s commitment to the North in its programme of capital investment in infrastructure, which will drive growth around the support, capital, talent and technology needed to build exceptional companies locally.”