According to imaging and spectroscopy business TeraView, the funds will accelerate the growth of its semiconductor, industrial and analytical business in Asia, the US and the EU.

Additionally the capital will be utilised to enhance support and collaborations with existing customers.

TeraView technology is used to detect faults and quality variations in semiconductor integrated circuits.

Investment has been secured through a number of different partners, including New Hill Management and Full Circle Investments in the US, and YFM Equity Partners and Turquoise International in the UK.

Turquoise International has invested on behalf of the UK Low Carbon Initiative Fund (LCIF), based at the University of East Anglia.

Don Arnone, CEO of TeraView, comments, ‘We are delighted to have attracted support from new investors, including some of our key customers.

‘The geographical spread of our investors – US, Asia, EU – also reflects the global nature of our business.’

David Livesley, investment director at YFM Equity Partners, says that the venture capital firm has been following TeraView’s progress for a number of years.

He adds, ‘As one of Britain’s most innovative technology businesses we are delighted that the opportunity has arisen for YFM Equity Partners’ fund to help accelerate its growth.’

Founded in 2001, TeraView was spun-out of the Toshiba Cambridge Research Laboratory.