Aqdot, the Cambridge (UK) based specialist chemical company, is pleased to announce completion of an oversubscribed series A funding round of £5m. Imperial Innovations led the round alongside Parkwalk Advisors, Cambridge Enterprise, the commercialisation arm of the University of Cambridge, and Providence Investment Company.
Aqdot operates in the rapidly growing encapsulation market, currently valued at £4bn. Its proprietary technologies encapsulate and protect valuable active products (cargos) in a variety of settings. Uniquely, using a variety of triggers, this enables the release of cargos when and where the customer requires.
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.Tim Wright
Aqdot has received interest from customers for applications across a wide range of sectors. Initially the company is focusing on household products, fragrances and niche industrial applications. Future potential applications include agrochemicals and pharmaceuticals.
Tim Wright, CEO of Aqdot said:
‘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 us to progress our products to market.’
Kelsey Lynn Skinner, Director Technology Ventures at Imperial Innovations said:
‘Aqdot has taken significant steps forward since the last funding round, in particular in customer engagement and application-specific technology development. 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.’Tags: chemical, chemistry, funding round, imperial innovations, Parkwalk Advisors