A Bristol-based business that develops sensors used to examine microscopic surfaces has received an equity funding boost from two Bristol sources – the University of Bristol Enterprise Fund, managed by Parkwalk Advisors and Bristol Private Equity Club.
NuNano, which for the last five years has received start-up support from SETsquared, the University’s business incubator, is to receive a total of £400,000 to enable it to grow to the next stage.
Based near Temple Meads, NuNano designs and manufactures atomic force microscopy (AFM) probes, which are used to investigate the nanoscale properties of materials. AFM is used in a wide range of applications from routine quality control in the semiconductor industry through ground-breaking research in molecular biology.
Dr James Vicary, co-founder and managing director said: “This boost will trigger a step change in the growth of our business. The last few years have really been all about research and development of the products and now we will be able to continue that work and scale up our commercial activity.”
The University of Bristol Enterprise Fund, managed by Parkwalk Advisors, is providing £150,000 and Bristol Private Equity Club is providing £250,000 in new equity investment.
Jerry Barnes, founder of the Bristol Private Equity Club said: “NuNano are exactly the sort of business that we like to support. It is difficult for start-up businesses to access funding of over £100,000 and under £500,000 and that is the area we like to work in. Here we have real technical experts producing leading edge products that will put Bristol on the map.”