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Finance Wales Makes First Co-investment with IP Group from the Wales Technology Seed Fund

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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.”

For more information contact [email protected]

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The Development Bank of Wales exists to help businesses in Wales start up, strengthen and grow, by getting them the capital they need across a range of routes.

As a unique resource in Wales, we offer flexible finance to all businesses at all stages, with funds available from £1,000 to £10million.

Our teams of friendly and dedicated staff all across Wales are on hand to provide guidance on the right investment and support for your business, and can provide the local insight which we know business owners value.

We’re one of the top five institutional venture capital investors in the UK by volume, with more than £100m invested in tech businesses.

We also work alongside partner organisations like Business Wales, and offers co-investment alongside banks, crowd funders, grants, private and corporate investors and other lenders.

And we’re committed to helping Welsh businesses improve their sustainability and achieving net-zero goals, helping them to transition to Wales’ green business future.

For more information, visit the Development Bank website at www.developmentbank.wales to find out more.

 

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