Cambridge-based chemical company Aqdot has closed a £5m Series A funding round led by Imperial Innovations Group.
Parkwalk Advisors, Cambridge Enterprise – the University of Cambridge’s commercialisation arm – and Providence Investment Company also participated in the round.
Founded in late 2012, Aqdot, a spin-out company of the University of Cambridge specialises in producing intelligent encapsulation technology.
Tim Wright, CEO of Aqdot said in a statement: “With such a fantastic platform, technology focus is key. Over recent months, working with our investors, the team has developed a strategic plan, tailored our technology and completed our first agreements with target customers. We are delighted to have completed this round of funding, which enables usto progress our products to market.”
“Aqdot has a strong team in place, and we are proud to lead this Series A round alongside other leading co-investors to enable the continued execution of the strategy,” said Kelsey Lynn Skinner, director of technology ventures at Imperial Innovations.