Hardide floats on AIM

Hardide, a provider of surface engineering technology, has floated on AIM with a market capitalisation of over £12m. Technology business angel network Oxfordshire Investment Opportunity Network (OION) helped secure £300,000 investment for the company in 2000. The company attracted a further £1.6m in its next funding round in 2003 which again included investment from business angels belonging to the OION Network, as well as venture capital funding from the Oxford Technology 2 VCT.

Jon Cox, manager of Oxfordshire Investment Opportunity Network, said: “I congratulate Hardide on their substantial achievements in just five years. They have grown from a start-up with an innovative technology to a key player in the materials coatings sector. They are a perfect example of the high growth potential companies that seek finance through OION.”