Xeros, a developer of ‘virtually waterless’ clothes cleaning technology has secured £920,000 in a funding round led by Enterprise Ventures (EV).
Xeros, a developer of ‘virtually waterless’ clothes cleaning technology has secured £920,000 in a funding round led by Enterprise Ventures (EV).
EV, which invested from its Rising Stars Growth Fund II, was joined in the round by South Yorkshire Investment Fund’s Seedcorn Fund, IP Venture Fund, and business angels.
Yorkshire-based Xeros, whose technology was developed at the University of Leeds, has signed a deal with dry-cleaning business GreenEarth Cleaning to sell the technology across North America to the commercial washing market.
It will use the money raised in this funding round to extend discussions with commercial partners.
Chief executive Bill Westwater says, ‘We have an eye on the consumer market but it will take time.’
Julian Viggars, EV’s head of technology, says the firm is ‘committed to support the company through its commercial discussions over the coming period’.
