Penningtons Manches Cooper advises Densix on $4 million seed funding round

The corporate team at Penningtons Manches Cooper has advised Densix, which is developing next-generation power conversion technology, on its initial spin-out from the University of Oxford, and a $4 million seed funding round led by Oxford Science Enterprises, with participation from Parkwalk and the University of Oxford Innovation Fund.

Born out of more than six years of research in the University of Oxford’s department of engineering science, Densix is developing a new class of ultra-dense power converters designed to address one of the most pressing constraints facing AI infrastructure and electrified energysystems: power density. Its proprietary technology enables up to an 8x reduction in form factor compared with conventional systems, supporting higher compute density, improved energy efficiency, and greater flexibility for AI data centres and power grids. The Penningtons Manches Cooper team advising Densix was led by corporate partner James Went, supported by associate Leo Shrimpton and trainee solicitor Alec Cumming. The wider team included commercial, IP and IT associate Mary-Clare Palmer, employment senior associate Victoria Spires, and corporate tax partner Kathy Potter.

Anders Hakfelt, CEO and co-founder of Densix, said: “This funding marks an important milestone for Densix and a strong vote of confidence in our vision and technology as we formally launch the business. As power density becomes an increasingly critical issue for next-generation digital and energy infrastructure, this investment will help us accelerate development, expand our team and strengthen the platform we are building. We were grateful to Penningtons Manches Cooper for their excellent support throughout the transaction, with a responsive, practical and commercial approach that was invaluable to us.”

James Went, partner at Penningtons Manches Cooper, said: “We are delighted to have supported Densix on this important seed funding round. Densix is exactly the kind of company that reflects the strength of the UK’s spin-out ecosystem: worldclass Oxford research translated into a business with a compelling commercial mission and clear relevance to the future of AI infrastructure and electrified energy systems. It is a pleasure to support ambitious technology and spin-out businesses like Densix as they move through critical stages of growth.”