Finance Wales has made its first co-investment with IP Group from the Wales Technology Seed Fund, investing in Stratium, a Sheffield University spin-out specialising in quantum cascade laser technology.
Finance Wales’ £150,000 equity is part of a £300,000 investment providing Stratium with the backing it needs to launch its Bruar chip which is used in gas sensing and environmental applications.
The investment will also enable Stratium, which is headquartered in Cardiff, to undertake further R&D, scale up its technology and penetrate new markets with its innovative technology.
Explaining the importance of Finance Wales’ investment, Wales Technology Seed Fund Manager, James Henderson added:
“The availability of seed investment capital from Finance Wales has attracted a number of promising IP-rich technology ventures with high growth potential to Wales and this is a significant investment as it’s Finance Wales’ first co-investment with IP Group from the Wales Technology Seed Fund. We’re pleased to join forces with an influential investor like IP Group as it’s important for spin-out like Stratium to secure the funding they need to achieve their potential. Our investment will also strengthen our links with Sheffield University, which is recognised for the quality of its research and the development of commercially viable IP.”
Commenting on Finance Wales’ investment in Stratium, Investment Executive Ann Casey said:
“Finance Wales is pleased to co-invest with IP Group to back Stratium as its launches Bruar. It’s an important milestone for the company and also our first co-investment with IP Group from the Wales Technology Seed Fund. Quantum Cascade Lasers are an emerging technology with significant potential and Stratium’s Bruar chip is an excellent example of how they’re increasingly being used in a wide range of everyday technological applications. Our investment will also enable Stratium undertake further R&D, scale up its technology and target new markets.”
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