University spin-out Surrey NanoSystems has received £2.5 million in funding.
University spin-out Surrey NanoSystems has received £2.5 million in funding.
Early-stage venture capitalist firm Octopus Ventures, led the round with an investment of £1.75 million, joining investors IP Venture Fund and the University of Surrey.
Alex Macpherson, chief executive of Octopus Ventures, says: ‘We are delighted to be backing Surrey NanoSystems’ innovative team of pioneering scientists and experienced entrepreneurs. From the outset we have been impressed by the management team’s vision, enthusiasm, and professionalism.’
The funding will be used to develop the company’s partnerships with semiconductor chip manufacturers.
Founded in partnership with the University of Surrey’s Advanced Technology Institute, NanoSystems received a seed investment of £400,000 in November 2006 from Intellectual property commercialisation specialist the IP Group.
