Cascade laser firm bags more venture backing
Cascade Technologies, the Stirling, UK, developer of quantum cascade laser systems for sensing applications, has secured an additional £2.5 million ($4.6 million) in funding to develop further market opportunities.
Braveheart Ventures led the funding round by investing £1 million, alongside the Scottish Enterprise Scottish Co-investment Fund.
Bank of Scotland Corporate s Growth Equity team and Partnerships UK both invested £750,000, with accountants Ernst and Young acting as advisors in the deal.
Cascade claims to have developed and patented the world s first real-time technology for the detection of gas, emissions and explosives through the use of quantum cascade lasers. The technology offers previously unprecedented levels of sensitivity and the ability to quickly analyze complex gases.
"A number of commercial agreements have already been secured, proving that the commercially-focused management team we have in place is able to deliver," said Cascade chief executive John Fuller.
Thanks to the new investment, Cascade will create up to 14 new jobs in the coming year at its new site in the Stirling University Innovation Park. The company currently employs 12 people.
