Thursday 7 March 2019 12:12 pm

Draper Esprit leads £7m funding round in deep tech firm Hadean

Venture capital firm Draper Esprit has led a £7m funding round in London deep tech firm Hadean.

Hadean has created the world’s first cloud-first operating system to allow programmers to scale up their code and reduce the manpower and time wasted on engineering.

Read more: London-listed Draper Esprit to double down on Europe with £100m fundraise

The funding round was also backed by Aster and specialist gaming investor London Venture Partners. Existing investors Luminous Ventures and Entrepreneur first also participated.

“Technology companies today are hampered by their ability to scale their platforms to meet demand and exploit data,” said Craig Beddis, Hadean’s co-founder and chief executive.

“Our technology, which was derived from first principles, eliminates the significant manpower and time wasted on engineering and DevOps.

“I am excited to have an investor of the calibre of Draper Esprit on board, with its proven track record in deep tech investment leading this round.’’

“New technologies to enable developers to build applications that can scale in the cloud are sorely needed,” said Simon Cook, chief executive of Draper Esprit.

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“As technology advances in areas such as AI, blockchain and simulation, the complexity of the current software stack will only trip us up.

“Hadean have ripped up the rule book and redesigned the architecture from scratch. Their technology has been developed by world-class engineers and we are delighted to be partnering alongside Craig, Rashid and the rest of the team.”