AN EDINBURGH based business has led a multi-million-pound investment in Scottish Innovators this year.
Business investment group Archangels has led an investment of £12.4 million in Scottish technology and life science companies in the first half of this year.
According to data released today, the company has invested £7.3 million during the first six months of this year along with a co-investment of £3.1 million from Scottish Enterprise and £2 million from other investors.
The investment of £7.3 million from the business is a record for any six-month period.
David Ovens, Joint Managing Director at Archangels, said: “While the pandemic has had an inevitable impact on areas of the economy such as retail and hospitality, Scotland has a world-renowned tech and life sciences community that supports many thousands of high-quality jobs and is making an increasingly important contribution to the economy.
“At Archangels, we are committed to providing the growth capital and access to networks that support our portfolio companies, based here in Scotland, as they scale up to become truly international success stories.”
Archangels have invested in BioCaptiva, a Scottish bio-tech company University of Edinburgh spin-out, responsible for developing a novel next generation “liquid biopsy” technology device which has revolutionised the early diagnosis and monitoring of difficult to detect cancers.
A further investment has been granted to Optoscribe a world-leading supplier of 3D glass-based integrated photonics products.
