Issue #280: Can't help falling in love (With North East tech, aye?)

Today we talk healthtech in Sunderland, explore regional unicorn potential and consider what's to be done regarding digital exclusion in the North East.

Feb 14, 2025

Morning Valentechs, sorry we’re a bit late today. God, what a morning man! Busiest day of the year, innit? I’m sure I don’t need to tell you, reader, of course you know how it is. I mean you’re pretty popular yourself, right? But spare a thought for me. You know, you try and write a hit digital newsletter, free from distraction, but the anonymous cards and love-letters keep flying through the letter box! At least I know who to reply to when the Digest hate-mail comes in…

Live scenes at Digest HQ this morning. Maybe?

Right enough made-up nonsense. Let’s keep this newsletter reputable, free from embellished legends and mythical madness eh? Let’s begin.

Hurun's Unicorns and Future Unicorns Index 2024 is a report identifying 53 British unicorns, as well as 84 pre-unicorn stage companies, known as gazelles and cheetahs. Three companies in the North East, Atom Bank, Pragmatic Semiconductor and Geopura, have been identified in Hurun’s list of firms poised to become worth more than $1bn in coming years. How’s that for substance, mate?

Atom Bank is an interesting one. Headquartered in Durham, Atom was the UK’s first app-based bank and has gained momentum with substantial mortgage and SME lending growth. The bank’s valuation took a hit in November 2023 after it raised more than £100m from existing shareholders. In 2024, the bank was valued at around £400m, yet Hurun’s index reported it is now nearing unicorn status.

Elsewhere we’ve software consultancy developments to flag. James Beard, formerly of Tombola, last year launched Neptune North as a collaborative venture between investment fund manager Rokos Capital Management and management consulting global leader Oliver Wyman. Offering software development consultancy, James and the team plan to employ over 100 employees (software devs and data-related roles) from their Bank House HQ in Newcastle by the end of the year.

Meanwhile Sarat and the team at hedgehog lab have an announced an expansion into nearby Leeds, hoping to create 50 new jobs. I know some of you think I get giddy whenever hedgehog does anything, as it’s an opportunity to pun the pants off you dear reader. I won’t take the bait. They do their thing, we do ours. It’s all good. Of course you wonder, where would we be without our quills? ~~Kill me.~~

Raise-wise Mercia has put further investment into Sunderland’s Applied Monitoring. The budding company has developed a device to continuously monitor lactate levels in blood, an innovation which could replace the need for professional athletes to have regular fingerprick blood tests. Interesting!

Finally DevHub North is running an in-person event in March. Whether you're a developer, student, or just passionate about the industry this is a good opportunity to connect and learn with techies in Newcastle city centre. Further details here.

Cheers, Jamie