Prime Highlights :
- British Business Bank puts £10m behind Odyssey Discovery I, backing UK AI and deep tech founders as they scale into global markets.
- The fund links UK and US ecosystems, arming founders with seed capital, operator guidance, and direct access to US networks.
Key Facts :
- Odyssey Discovery I runs as a $50m seed and pre-seed fund headed by Ali Mitchell and Michelle Robson.
- The backing comes through the British Business Bank’s Regional Angels Programme, aimed at regional funding gaps.
Background :
The British Business Bank has put £10m behind Odyssey Ventures’ early-stage fund, Odyssey Discovery I, aiming to help UK AI and deep tech founders grow into international markets.
The funding flows through the state development bank’s Regional Angels Programme, set up to tackle regional gaps in startup funding. Odyssey Discovery I runs as a $50m seed and pre-seed fund centered on UK founders working across AI and deep tech.
Former founder-operators Ali Mitchell and Michelle Robson head the fund. Operating out of London and San Francisco, Odyssey Ventures acts as a link between the two markets, giving UK founders seed capital, hands-on operator guidance, and direct routes to US customers and networks.
The backing looks to narrow the valuation and funding divide separating UK scaleups from their US counterparts, letting domestic startups grow internationally while keeping their headquarters in the UK.
Mitchell said the UK continues to produce some of the world’s strongest AI and deep tech founders, and that Odyssey exists to push the boldest among them onto the global stage from the start, arming them with capital, customers, and operating support to compete.
Mark Barry, senior investment director at the British Business Bank, said Odyssey has put together a distinct fund that gives determined UK founders the capital, market links, and operator backed support they need to scale worldwide, turning UK innovation into businesses that compete on a global level.