TWO Scottish technology companies have raised significant sums to help boost their growth prospects.
Software firm Administrate received £1.7 million with backers including Archangels, the Scottish Investment Bank (SiB) and Tri-Cap.
Meanwhile Heriot-Watt University spin-out firm Chromacity, which is involved in laser development for scientific and industrial purposes, has secured around £520,000 from EOS Technology Investment Syndicate, Kelvin Capital, SiB and female entrepreneur group Investing Women Angels.
Edinburgh-based Administrate supplies training management software to the likes of PwC, Elsevier, Scania, Becker, Ag Leader and the Brunswick Corporation.
It has more than doubled staff numbers this year to 35 and said it is seeing growing demand for its products from the domestic market as well as overseas regions such as North America and the Middle East.
It plans to invest further in its products and marketing.
John Peebles, chief executive of Administrate, said: “This year has been incredible. We’ve built an amazing team delivering success to our global customer base, supported by our investors and in keeping with our company values.
“We’re just getting started and are looking forward to an even better year in 2016.”
Chromacity, based at the Heriot-Watt Riccarton campus on the outskirts of Edinburgh, is developing what are believed to be unique tunable lasers for use in life-sciences microscopy.
It plans to use the money to invest in development as it moves towards commercialising the technology for a wider range of uses.
Kevin Grainger, co-founder of St Andrews based EOS, said: “This is the third investment we have completed since we started a year ago, and is the first we have done in conjunction with Kelvin Capital and Investing Women.
“We are delighted to have come together with other likeminded syndicates to put a package together for such an innovative business as Chromacity.”
Jim Hall, from Kelvin Capital, said: "We are delighted to have worked with EOS and Investing Women for the first of what I hope is many deals going forward.
“Not only were we able to quickly raise in excess of £500k through our combined member base but we now have the support networks and contacts of all three groups to support this business going forward which is a huge value add to the company."
The investors were advised by Harper Macleod with the money being used through both the Seed Enterprise Investment Scheme (SEIS) and the Enterprise Investment Scheme.
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