Roslin Technologies, the commercial agri-tech partner of Scotland's Roslin Institute, which famously created Dolly, the world's first cloned sheep, is embarking on a £50 million capital raise, valuing the Edinburgh-based company at more than £55m.

The four-year-old business will use the funds to invest in a wide range of cutting-edge agricultural technology initiatives, and build relationships through its growing number of portfolio companies. The innovations it is leading on may prove to be game changers for food security and human nutrition – not the least of which is 'cultivated' meat, produced in vitro rather than on the back of an actual animal, and nutrient recycling via insects.

Founded to help turn the scientific discoveries of the University of Edinburgh's Roslin Institute and Royal (Dick) School of Veterinary Studies into marketable solutions for the agricultural and veterinary sectors, Roslin Technologies has broadened its scope to build partnerships around the world investing both capital and expertise. Recent investments include a Singapore-based business which turns insects into animal feed and fertiliser in a single process.

Whilst Covid-19 is weighing on certain investments, the company believes that it will attract considerable interest due to its non-cyclical and defensive aspects, focused on improving food security and safety. Its sustainable qualities are also in demand — tackling the global food deficit and making agriculture more environmentally efficient. The investment round will be led by Milltrust International LLP and JBI Equity, two of the world's leading agri-tech advisors, and both founding investors in the company.

Commenting on the development, chief executive officer Glen Illing said: "The capital raise is a significant milestone for us, demonstrating our huge potential. Our clients are eagerly embracing technology solutions that our scientists are making, and we’re confident that our new key initiatives in the fields of insect, shrimp and cultivated meat technology will become large-scale commercial ventures that make a positive difference to world markets. Building on this incredible work, we believe Roslin Technologies will become one of the world's leading agri-tech venture businesses.”

JBI equity partner Kristian Bennetsen said: “We are truly delighted to reach this important marker of a Series B raise. The venture building approach Roslin Technologies is taking is unique in the industry, and we expect to see the partnership with the University of Edinburgh continue to develop and grow. The new projects are truly cutting edge and we are excited to see a period of accelerated growth ahead.”

Milltrust chief executive officer, Simon Hopkins, added: "As one of the founding investors in Roslin Technologies, it is very exciting to help the company take its next key growth step. We always knew the commercial potential for a business working with these leading scientists was excellent, and the next compelling pipeline of projects, along with the current portfolio growth, is tremendous to see. I look forward to sharing what has to this point been a well-kept secret to the widest range of investors – institutions, pension funds, family offices – about the considerable potential of Roslin Technologies.”