Gloustershire-bsed technology company Phasor Solutions has secured a further £1.5 million investment, with £900,000 coming from Octopus Ventures.

Gloustershire-bsed technology company Phasor Solutions has secured a further £1.5 million investment, with £900,000 coming from Octopus Ventures.

This funding takes Octopus’s investment in Phasor to £1.5 million.

Henry Hyde-Thompson, chairman of Phasor Solutions, says: ‘Since Phasor’s formation in 2005, the Octopus team and its Investor Group have played a major role in the considerable progress we have made to date.’

Alex Macpherson, CEO of Octopus Ventures, says: ‘Octopus Ventures is delighted to be supporting Phasor Solutions through its next stage of development. We are pleased with the significant strides Phasor has made towards the commercialisation of its technology, which we believe will deliver significant returns for our investors.’

The total funds under management by Octopus Investments and Ventures is £725 million.

Octopus Ventures have completed two other deals so far in 2009.