UK semiconductor startup Quinas Technology secures investment approval from Malta Government Venture Capital

Quinas Technology, a London-based DeepTech semiconductor startup developing memory technologies for AI, data centres, edge computing and advanced digital systems, has secured investment approval from Malta Government Venture Capital (MGVC). 

On 7 May 2026, the MGVC approved the investment under its co-investment framework to support the growth of the UK-based company. The funding, the amount of which was not disclosed, is contingent on match financing and will support Quinas Technology’s expansion activities in Malta. The company is currently preparing its Seed funding round

“We are delighted to receive this commitment from the Malta Government Venture Capital. It reflects Malta’s ambition to support deep-tech companies at the forefront of semiconductor innovation and provides an important foundation as we continue to scale ULTRARAM towards commercial deployment,” said James Ashforth‑Pook, co‑founder and CEO of Quinas Technology. 

Quinas Technology was founded in 2023 as a spinout from Lancaster University’s Physics Department by James Ashforth‑Pook, Dr Peter Hodgson (CTO), and Prof. Manus Hayne. 

The company is developing ULTRARAM, a patented ultra-low power non‑volatile memory technology that claims to combine the speed and endurance of DRAM with the persistence of flash memory, addressing critical bottlenecks in AI and edge‑compute systems.

“It exploits a quantum-mechanical process called resonant tunnelling, allowing ULTRARAM to deliver non-volatility with fast and energy-efficient write and erase, resulting in high endurance. This combination of properties was thought to be unachievable until now. ULTRARAM has the non-volatility of flash, with a performance that is expected to exceed that of DRAM,” explains the company. 

The company collaborates with leading academic and industrial partners to deliver advanced memory solutions for AI, edge, and secure computing applications.

Malta Government Venture Capital supports innovative, high‑growth companies that contribute to Malta’s economic development and strategic technological priorities through equity and quasi‑equity investments.

This support from MGVC forms part of Malta’s strategy to attract high‑value, knowledge‑intensive technology companies and to strengthen the country’s position in advanced semiconductor research, intellectual property development, and commercialisation, supporting the company’s progression towards commercial deployment.

Quinas Technology states that it is establishing a Maltese presence as part of a broader international growth strategy spanning the UK, Europe, and Asia. Malta will play a role in corporate structuring, strategic operations, and future commercial activity, notes the company. 

A spokesperson for Malta Government Venture Capital added, “Semiconductors are a foundational technology for economic resilience and national competitiveness. Quinas Technology represents the type of high‑value, IP‑driven company that aligns with Malta’s long‑term vision to attract advanced technology investment and talent.”

Earlier this year, in April, Quinas Technology completed an Innovate UK–funded project exploring the application of its proprietary ULTRARAM technology to neuromorphic computing. The programme was delivered under the UKRI “Developing Semiconductor Hardware for Critical Technologies” scheme. 

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