Deepmatter eyes jump in users of its technology

A Glasgow-based firm that has developed a cloudbased platform to record and share the results of chemistry experiments has seen annual losses rise as it focuses on widening its user base and starting to generate revenues.

Deepmatter, which recently acquired a German software business in a £1.8 million deal and raised £4m, said it had been a “transformational” 2018.

Chief executive Mark Warne said the company, which saw annual losses rise to £1.92m from £1.46m, is looking at deploying its technology to an increasingly large user base and progressing to monetisation of the platform.

“Alongside this the company has begun to identify unique chemistry insights, which we will use to create intellectual property and share with the wider scientific community,” he commented.