Particle Analytics clinches £290,000 in deal led by Mercia
MFM’s first Scottish investment in the University of Edinburgh spin-out will enable it to build its team and prepare for commercial product launch
Particle Analytics, a particle solids research company, has secured £290,000 in a round led by Mercia Fund Management (MFM) marking the early-stage technology investment firm’s first Scottish deal.
Old College Capital – the University of Edinburgh’s in-house venture capital fund – also participated in the round backing £150,000.
Founded in 2015 as a spin-out from the University of Edinburgh, Particle Analytics’ software aims to save time and money for corporations that handle large volumes of particulate solids such as grain or asphalt.
Spanning several industries including mining, pharmaceuticals, chemicals and construction, the company already sells to major global firms Procter & Gamble, Johnson Matthey, Pfizer and Aztec Inc.
The seed finance will help Particle Analytics build its team and support a full commercial product launch later in the year.
Dr Carlos Labra, CEO and co-founder of Particle Analytics, said:
“We are very pleased to be the first Scottish start-up to receive investment from Mercia Fund Management, which has a strong history of supporting university spin-outs.
Paul Devlin, investment manager at MFM’s Edinburgh office, said MFM was “delighted” to support Particle Analytics:
“The start-up community in Scotland is vibrant and we look forward to helping to scale more companies in the near future.”