EDINBURGH-based UniKLasers Limited, a manufacturer of high precision scientific laser instrumentation, has closed a £750,000 financing round led by Par Equity with support from The Scottish Investment Bank.
The investment in UniKLasers is the second that Par Equity has made since its recent partnership with British Business Investments through the Regional Angels Programme. This round takes UniKLasers’ total funding since 2017 to £2.3 million.
UniKLasers will use this funding round to expand and upgrade its manufacturing and R&D capability, continue to build its global sales and marketing pipeline and significantly increase its workforce to further capitalise on a market directly relevant to their application, estimated to be worth $1.46bn
This will happen under the guidance of a newly appointed chief exexutive officer, technology industry veteran, Alan Faichney.
A renowned serial entrepreneur and business strategist, Alan has helped restructure a number of Scottish technology businesses including – Pufferfish, Arrayjet, Silent Herdsman and Edinburgh Instruments.
In 2013, it concluded a private investment round, which was swiftly followed by support from Scottish Enterprise and Lancaster Capital Investment Syndicate, and since 2017 Innovate UK.
UniKLasers has achieved world-wide international sales, successfully expanded their product portfolio and become very active in the UK National Quantum Technologies programme, focussing on developing lasers as the key instrument for Quantum Clocks and Quantum Gravimeters.
Anastasia Bombrys, UniKLasers Ltd chief operating officer, said: “Par Equity’s support in championing the development of young businesses is unrivalled in Scotland. It is a standard bearer for high growth businesses with exceptional potential and we’re delighted to be part of its portfolio.”
Paul Atkinson, Par Equity sponsoring partner, said: “Par Equity first invested in UniKLasers in 2017 and we are delighted to continue supporting the company as one of the very best high-growth technology start-ups.”