Angels backing tech firm

Further funding for Scottish microchip tester Ateeda

david-hamiltonScottish microchip testing company, Ateeda has received a further £630,000 to boost its marketing activity and development.

The funding is from business angel syndicate, Archangels, and the Scottish Investment Bank (SIB), along with members of the company’s management team,

Edinburgh-based Ateeda helps microchip companies reduce their costs, as the complexity of their products increases.

David Hamilton, founding chief executive, said: “Feedback from the market shows support not only for the application of our current technology but also for our future product roadmap which is taking test capability to new levels.”

Niki McKenzie, investment director at Archangels, said: “For the companies we invest in, follow on funding is just as important as the initial investment itself.

“We recognise the need for our ongoing support as our investee companies grow and we are pleased to be able to provide Ateeda with the funding it needs to develop further and to enable the business to move to the next level in its development.”

Kerry Sharp, head of Scottish Investment Bank, said: “It is innovative, high tech businesses like ATEEDA that we are here to support. This funding will be crucial in allowing the company to develop its international sales activity in a rapidly growing market.”

Photo: David Hamilton (contributed)

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