CST secures £3.5m funding
Compound Semiconductor Technologies (CST), a Scottish optoelectronics foundry spun out of the universities of Glasgow and Strathclyde, has taken £3.5m in funding from a consortium of international investors led by European Digital Partners (EDP).
In addition to Intel and EDP, which is backed by US private equity giant Kohlberg Kravis Roberts, a number of entrepreneurs with experience of growing optoelectronics businesses have provided investment.
As well as manufacturing devices, CST will act as an incubator for early-stage companies. It has recently provided support for two Scottish opto-electronics operations, Intense Photonics and Kamelian.
£1.4m second round funding for Netusability
Netusability, a company developing software that enables companies to record their customers’ experiences of their websites, has taken a £1.4m second round of funding one month before its official launch.
Warburg Pincus and EVerger, an emarketing investment firm formed in 2000 by Aegis, the communications and media agency, invested. Warburg committed £1.41m seed funding into the company in October 2000.
EVerger invests in internet and marketing-related businesses. These include Dublin-based e-marketing company NewWorld Commerce, and US online direct marketing company iQ.com.
Danish funds invest in Nuevolution
Nuevolution, a Danish biotech company developing digital libraries for compounds screening, has secured E4.7m second round funding from Nordic biotech Novo, and Danish Growth Fund (VækstFonden). The money raised will be used to develop the company’s technology platform, which is aimed at finding new drug candidates for pharmaceuticals applications.
This is the second investment the two groups have made in the business. They jointly committed €671,000 earlier in the year.
E2m for Swedish diagnostics company Ultrazonix
Ultrazonix, a Swedish diagnostics company developing ultrasound technology for the treatment of spine disc disorders, has taken more than E2m first round funding from venture capital firm Medicon Valley Capital. In return for its investment, the firm is taking a 40 per cent stake.
The money raised will be used to develop further the venture’s technology.
Medicon Valley Capital is a Swedish-Danish fund investing in the life science sector, in particular biotech companies and research. The fund is focused on Medicon Valley region, a cluster comprising institutes and biotech start-ups based in Greater Copenhagen-Skåne (South Sweden). The fund was established in January 2000 with an initial capital of over €42m.
CST secures £3.5m funding