Follow on funding and new investors secured by Acuity Advisors for leading technology provider to the global nanoelectronics sector
Acuity Advisors, the corporate finance advisor, have helped secured a follow on funding round and sourced new investors for nanoelectronics company Surrey Nanosystems, which will allow it to continue to develop its innovative technology. The follow on funding round of £4.5 million is one of the largest amounts for any UK semiconductor-focused company in the last year.
A spinout from the University of Surrey’s Advanced Technology Institute, Surrey Nanosystems have developed a platform and technology portfolio for partners to deliver nano-materials and technologies to the global semiconductor, renewable energy and clean technology industries. The follow on funding will help the company to continue to develop its innovative technologies, in particular, addressing two areas that are expected to bring dramatic improvements in the performance of high speed electronics: low-growth temperature carbon nanotube technologies and advance thin film polymer dielectrics.
Acuity deliver specialist advice for mid-market companies throughout Europe, including finding buyers for businesses, raising investment funds (venture capital and private equity) and developing growth strategies.
Acting as exclusive corporate finance advisor, Acuity worked with the management team at Surrey NanoSystems to refine its business plan before approaching new investors resulting in significant new investment for the company. Existing investors Octopus Ventures, IP Group and the University of Surrey agreed to follow their money, with new follow on funding from New Wave Ventures and Parkwalk’s UK Technology II Fund.
Surrey Nanosystems CEO David Wong praised the results delivered by Acuity in difficult conditions: “Richard Baker and the Acuity team proved very effective in securing additional investment, despite the difficult funding environment.”
Acuity Advisors’ partner Richard Baker commented: “Surrey Nanosystems had developed some very exciting, innovative technologies for the global nanoelectronics sector. With this investment, they will now be able to develop this further and take their technology to market.”
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