Irwin Mitchell Advises on PraeSeed Investments Driving Northern Innovation

Irwin Mitchell’s Corporate team has played a key role in supporting PXN Ventures on a series of investment deals that will see eight innovative startups across the North of England receive £200,000 each through PraeSeed – a cohort-based programme backed by the Northern Powerhouse Investment Fund II (NPIF II).

The transactions, which follow the merger of Praetura Ventures and Par Equity to form PXN Ventures, mark the second year of PraeSeed and bring the total invested through the programme to £3 million. The initiative is designed to accelerate early-stage businesses by combining funding with hands-on support, including workshops on scaling, financial modelling, and fundraising.

A team from Irwin Mitchell, led by partner Adam Kaucher alongside Kieran Shields and Alice Power, advised PXN Ventures on all eight transactions and supported the legal framework for the programme.

Adam Kaucher, Corporate partner at Irwin Mitchell in Manchester, said:

“We’re proud to have supported PXN Ventures on these deals, which will help some of the North’s most exciting early-stage businesses access the funding and expertise they need to scale. PraeSeed is a fantastic example of how investment programmes can combine capital with practical guidance to drive innovation and growth across the region.”

Jess Jackson, PraeSeed lead at PXN Ventures, said:

“The second year of PraeSeed yet again surpassed all expectations in terms of the quality of businesses that took part. The companies that have received investment are those that we are backing as the next in the North. This investment reflects not only their commitment to the programme but our belief in the technology and solutions they’ve built, which span a diverse range of sectors from women’s health to green energy. In addition, two of the businesses who have received investment this year applied for PraeSeed last year but weren’t quite at the right stage to benefit from the programme at the time. We would therefore encourage founders who have previously applied to PraeSeed to do so again next year and highlight the progress they’ve since made, as building relationships with investors is essential!”

The latest cohort spans a diverse range of sectors, from green energy and fintech to medtech and AI-driven solutions. 

Among the investee companies are:

• ADTechOptima (Lancaster) – delivering efficiencies in anaerobic digestion to convert organic waste into energy.
• Future Greens (Sheffield) – enabling food and drink manufacturers to monetise waste via onsite microdigesters.
• Crediflow AI (Manchester) – automating credit analysis and risk monitoring for financial institutions.
• NeuWave Technologies (Manchester) – combining AI and historical data to improve maritime safety.
• Feasibly (Durham) – providing geospatial AI tools for solar site assessments.
• Respiosa (Liverpool) – developing a minimally invasive device to treat sleep apnoea.
• AUDITSU (Leeds) – offering RegTech solutions for app compliance with EU accessibility regulations.
• Revela (Newcastle) – using AI to speed up endometriosis diagnosis through ultrasound analysis.

Sue Barnard, Senior Investment Manager at British Business Bank, commented:

“Early-stage investment is crucial in helping businesses scale and reach their full potential. That’s why NPIF II is committed to alleviating regional disparities, providing founders from across the North with the funding and expertise they need.”