Aqdot Closes £2.55m Funding Round
Aqdot a specialist chemical company originally spun out of Cambridge University, with a focus in intelligent encapsulation, has completed a £2.55m oversubscribed funding round.
The round was led by Touchstone Innovations, alongside Cambridge Enterprise, Providence Investment Company and Parkwalk Advisors. Due to the potentially significant environmental benefit of the technology, the company has also been supported by Climate-KIC, receiving approximately €135,000 through different Climate-KIC funded initiatives.
Aqdot will use the funds to further develop and commercialise its platform encapsulation technology. The company’s proprietary technology, originally developed at the University of Cambridge, enables valuable active products to be protected, delivered and chemically programmed to release where and when required. The technology can be game changing in a wide range of sectors including oil and gas, pharmaceuticals and household products. It enables customers to introduce novel and differentiated brands, reduce manufacturing costs and make a positive impact on the environment.
As an illustration, in biological laundry products enzymes are a vital part of the ‘cleaning power’. Currently the enzymes are substantially destroyed by other detergent components before use. By encapsulating the enzymes, in Aqdot’s “AQ-wash” product, it is possible to protect them and programme them to release only at the start of the wash. This reduces the amount of enzyme and detergent needed for a wash cycle and enables a lower temperature wash, resulting in significant carbon dioxide reduction.
Aqdot Closes Funding Round
Tim Wright, CEO at Aqdot, said:
“The continued support from our seed investors and interest from new investors demonstrates the robustness of our technology and underlines the rapid progress Aqdot is making. This funding round enables us to continue to innovate and develop our products in parallel while taking the first wave through to commercialisation. I am grateful to former CEO John Hamlin and the Aqdot team for making this possible.”
Kelsey Lynn Skinner, Director Technology Ventures at Touchstone Innovations, said:
“We are proud to lead this round of investment alongside top-notch co-investors. Aqdot is a perfect example of high quality science leading to novel products, with many potential benefits to industry and society.”
For further information, please contact:
Aqdot Ltd
Tim Wright, CEO
01223 334 319
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About Aqdot® – http://www.aqdot.com/
Aqdot is a specialist chemical company with a focus and expertise in intelligent encapsulation technology. Aqdot’s proprietary technology and know-how enables valuable active products to be protected, delivered and chemically programmed to release where and when required.
This unique and disruptive platform technology, originally discovered and spun out of Cambridge University, has the potential to be game-changing in a wide range of industries, including household products such as detergents, pharmaceuticals, oil and gas, agrochemicals, cosmetics, food, paint, fragrances and personal products.
Identifying unmet needs in these sectors, Aqdot develops products that enable our customers to introduce novel and differentiated brands, reduce manufacturing costs and make a truly positive impact on the environment.
About Touchstone Innovations
Touchstone Innovations Business LLP creates, builds and invests in pioneering technologies developed from the academic research within the ‘Golden Triangle’ broadly bounded by London, Cambridge and Oxford, which is home to the UK’s four leading research-intensive universities.
This area is home to many new technology companies through its proximity to the academic communities of Imperial College London, the University of Cambridge, the University of Oxford and University College London, as well as other leading research institutions.
Imperial College London, the University of Cambridge, the University of Oxford and University College London collectively have research income of £1.4 billion per annum and are ranked as four of the top ten Universities in the world (source: QS World University Rankings 2014/15).
Innovations supports scientists and entrepreneurs in the commercialisation of their ideas through the licensing of intellectual property, by leading the formation of new companies, providing facilities in the early stages, providing investment and encouraging co-investment to accelerate development, providing operational expertise and recruiting high-calibre management teams. It also runs an incubator in London that is the initial home for many of its technology spin-outs.
Since admission of its shares to trading on AIM in 2006, Innovations has raised more than £346.0 million of equity from investors, which has enabled it to invest in some of the most exciting spin-outs to come out of UK academic research. In addition, the Group has a £30.0 million loan facility from the European Investment Bank (EIB) for investment in biotech and therapeutics businesses.
During the period from admission on AIM up until 31 July 2014, Innovations has invested a total of £176.0 million across its portfolio companies, which have raised collectively investment of £822.5 million.
About Parkwalk Advisors
Parkwalk is an independent investment firm dedicated to providing clients with access to some of the most exciting deal-flow emanating from British R&D intensive institutions and Universities. Parkwalk invests in, and raises capital for, innovative UK technology companies. The Funds are investment-driven venture capital funds, seeking capital appreciation. Parkwalk portfolio companies all have deeply-embedded IP and commercial potential, and range from early stage seed capital, through development and commercial capital to AIM-listed investments. More information can be found at www.parkwalkadvisors.com.
About Cambridge Enterprise – http://www.enterprise.cam.ac.uk
Cambridge Enterprise Limited is a wholly owned subsidiary of the University of Cambridge, responsible for the commercialisation of University intellectual property. Activities include management and licensing of intellectual property and patents, proof of concept funding and support for University staff and research groups wishing to provide expert advice or facilities to public and private sector organisations. Cambridge Enterprise provides access to angel and early stage capital through Cambridge Enterprise Seed Funds, University of Cambridge Enterprise Funds, Cambridge Innovation Capital and Cambridge Enterprise Venture Partners, and offers business planning, mentoring, and other related programmes.
About Climate-KIC – http://www.climate-kic.org/
Climate-KIC is the EU’s main climate innovation initiative. It is Europe’s largest public-private innovation partnership focused on mitigating and adapting to climate change. Climate-KIC consists of companies, academic institutions and the public sector.
The organisation has its headquarters in London, UK, and leverages its centres across Europe to support start-up companies, to bring together partners on innovation projects and to educate students to bring about a connected, creative transformation of knowledge and ideas into products and services that help mitigate and adapt to climate change.
Climate-KIC currently has centres in France, Germany, The Netherlands, Switzerland, the UK, a Nordic centre in Denmark and is represented in the regions of Valencia, Central Hungary, Emilia Romagna, Lower Silesia, Hessen and the West Midlands.
Climate-KIC is one of the Knowledge and Innovation Communities (KICs) created in 2010 by the European Institute of Innovation and Technology (EIT), the EU body tasked with creating sustainable European growth while dealing with the global challenges of our time.