Satellite specialist closes funding round
Sofant Technologies raised £6.25m as it prepared to launch into commercial production.
The fundraising was led and syndicated by existing investor EMV Capital Partners and follows the appointment of space industry veteran Will Whitehorn as chairman of the Edinburgh-based firm.
Engineering firm bought by Japanese bidder
Coatbridge-based KRG Specialist Engineering, which supplies components to industries including defence and oil and gas, has been acquired by Japan’s Torishima for an undisclosed sum.
KRG’s workforce and operations will remain in Coatbridge and the deal will enable it to access new opportunities through Torishima’s global network.
Drug delivery specialist raises £1.5m
1nhaler, an Edinburgh-based drug delivery device developer, has secured an additional £1.5m in seed funding to support work on a cardboard inhaler.
The funding round was led by Archangels with support from Scottish Enterprise and BBB Investments. It follows an initial raise of £2m in 2023 in a funding round also led by Archangels.
US buyer swoops on family IT firm
San Francisco-based Pine Services made its first UK acquisition by buying Eureka Solutions, an East Kilbride-based IT business.
Pine is part of the Evergreen Group which specialises in IT services and software. The shareholders of Eureka were advised by Consilium Chartered Accountants.
Spin-out secures new funding
University of Edinburgh spin-out BIOCAPTIVA raised £1.58m in a new funding round as it launched its first product in the US. The company’s magnetic bead technology aims to make blood testing for cancer more reliable. The raise was led by Archangels, with support from Old College Capital, BBI, Scottish Enterprise, and EverQuest Capital Partners.