UK early stage investor Octopus Ventures has invested £1.75 million into Surrey NanoSystems. The investment gives Octopus a significant minority stake in the business.
The funding, provided by the Octopus Titan 1, 2 and 3 VCTs, Eureka EIS, and the Octopus Investor Group, will be used by Surrey NanoSystems to develop new and existing partnerships with established semiconductor chip manufacturers, and jointly develop commercial scale versions of their low temperature growth technology.
SNS’s current client base consists of blue chip companies and institutions in both the US and UK, including (GM) General Motors.
Alex Macpherson, chief executive of Octopus Ventures, said: “We are delighted to be backing Surrey NanoSystems’ team of scientists and entrepreneurs. We believe the Company’s growth technology is a good investment opportunity for our investors and has the potential for commercial use across a range of sectors.”