Imperial Innovations Group plc (AIM: IVO, ‘the Group’, ‘Innovations’) has led a £5.0 million Series A funding round in portfolio company Aqdot Limited (‘Aqdot’ or the ‘Company’) the Cambridge (UK) based specialist chemical company.
Innovations has committed £3.0 million to the round alongside Cambridge Enterprise, Parkwalk Advisors and Providence Investment Company. Innovations first invested in the Company in November 2013 and has now invested a total of £4.6 million. As a result of this investment, Innovations will now hold a 46.5% (non-diluted) interest in the Company.
Aqdot operates in the rapidly growing encapsulation market, currently valued at £4 billion. Its proprietary technologies encapsulate and protect valuable active products (cargoes) in a variety of settings. Uniquely, using a variety of triggers, this enables the release of cargoes when and where the customer requires.
Aqdot is now engaged with customers across a number of sectors. Initially the Company is focusing on household products, fragrances and niche industrial applications. Future potential applications include agrochemicals and pharmaceuticals.
Kelsey Lynn Skinner, Director Technology Ventures at Innovations said:
“Aqdot has taken significant steps forward since the last funding round in particular in customer engagement and application-specific technology development.
“Aqdot has a strong team in place, and we are proud to lead this Series A round alongside our co-investors to enable the continued execution of the strategy.”