Rossendale-based Theo Technologies is transforming access to high-performance computing with its cloud-based platform, LoLa. A high-performance remote desktop solution, LoLa enables users across the globe to run creative, gaming or business workloads entirely in the cloud - without needing to own a powerful PC. With tailored business growth support from Innovate UK, the company has grown from one to six employees, secured more than £500,000 in public funding and private investment and reached 120,000 users.
Theo Technologies has developed LoLa Cloud PCs – a user-first platform that delivers the full power of a desktop computer through the cloud. Designed to be used from smartphones, tablets, laptops or desktops, LoLa replaces the need for high-powered physical devices with a secure, cost-effective and more sustainable solution.
Roger Theophanous, Founder and CEO of Theo Technologies, says: “Our vision has always been to make high-end computing accessible to anyone, anywhere. With LoLa, we’ve built a cloud-native alternative to traditional PCs – one that reduces waste, drives down cost and delivers real performance.”
From concept to cloud – early support lays the foundation
Theo Technologies started working with Innovate UK Business Growth in 2020 after winning Innovate UK’s Young Innovators award. Working with Innovation and Growth Specialist, Hannah Williams, the company developed a step-by-step action plan to guide the creation of a minimum viable product (MVP), test its business model and secured its first £320,000 from Angel investors. To facilitate this, Innovate UK Business Growth, helped Theo Technologies to identify a software development company to help build an early version of LoLa. This groundwork enabled the company to move quickly from idea to prototype, building momentum for future growth.
“Being selected as a Young Innovator was the turning point,” Roger explains. “It gave me confidence, early funding and access to mentors, who helped sharpen the vision and commercial potential of LoLa.”
Invest-Ability training drives investor success
As the company progressed, Innovate UK Business Growth supported Theo Technologies through its Invest-Ability Intensive Training between August and December 2024 with Hannah Williams and Philip Crosland. Designed to help innovation-led businesses prepare for funding, the initiative provided a focused plan to refine the value proposition, pitch, and investor engagement strategy.
Two value proposition workshops helped the team position LoLa for general users, gamers and business customers. This was followed by coaching on pitch decks, financials, its data room and investor profiling. Several one-to-one meetings allowed Roger to rehearse, revise and sharpen his key messages.
This tailored support helped the company secure a further £200,000 crowdfunding investment in early 2025 and take LoLa from concept to commercial product.
Roger adds: “Innovate UK Business Growth’s support was pivotal. It helped us position ourselves clearly to investors – not just as a cool tech project, but as a scalable, investable business.”
Funding fuels AI innovation and performance boost
Alongside private investment, Philip worked with the company to identify Innovate UK funding opportunities to support ongoing innovation. This led to a successful £42,500 grant through Innovate UK’s Feasibility Studies for AI Solutions: Series 2 in September 2024.
The funding enabled feasibility work into AI-powered video compression – a critical challenge for delivering high-resolution performance on low bandwidth. The result was LoLa Streaming – a custom-built streaming system that helps LoLa run smoothly and with very little delay.
Roger says: “Innovate UK gave us the tools to test, validate and then scale what could have easily stayed an R&D project. LoLa Streaming is now one of the core strengths behind LoLa’s performance.”
Commercial traction and growing recognition
Today, LoLa Cloud PCs are used by 120,000 people across the UK, Europe and beyond. Its popularity in gaming circles has seen the platform featured on three major YouTube channels, while Roger Theophanous was named Most Influential CEO 2025 by CEO Monthly. The company also reported £80,000 in turnover in its most recent financial year, with new affiliate partnerships, cloud integrations and product enhancements underway.
Innovate UK Business Growth has been a constant, supportive partner on our journey. From guidance on MVP and grants to becoming investment ready. We now have the team, the capital and the traction to scale LoLa globally.
– Roger Theophanous, Founder and CEO of Theo Technologies
By enabling anyone to run demanding computing tasks from basic devices, LoLa is directly supporting productivity, digital inclusion and sustainable growth in the UK. Its model reduces device-level e-waste, lowers operating costs for organisations and gives users access to professional-grade computing without the physical infrastructure.