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Archangels and SIB back 'innovative' companies

Scottish firms in £3.3 million funding boost to finance global growth plans

John WaddellThree Scottish growth firms have secured a combined £3.3 million in funding from investor syndicate Archangels and the Scottish Investment Bank.

Administrate, Bloxx and PowerPhotonic will use the capital to support global expansion. All three have received support from Archangels from the early stages of their development. About 60 of Archangels’ investor members chose to participate in these funding rounds.

John Waddell, chief executive of Archangels (left), described them all as world class in their own field. “They are all excellent examples of the types of Scottish enterprises that Archangels is uniquely positioned to support,” he said.

“They simply couldn’t have developed to the stage that they have today without Archangels and we’re proud of what we have achieved together with all three businesses.”

Kerry Sharp, head of the Scottish Investment Bank, the investment arm of Scottish Enterprise,  said: “All three of these businesses are great examples of forward thinking, innovative, Scottish companies that are actively competing at an international level. We look forward to continuing our relationship with them as they accelerate their growth plans with these most recent rounds of investment.”

Administrate provides online training management software from its base in Edinburgh. It reached break even last year and has identified key areas for growth. The company has received a further £577,000 of investment in this most recent round and will use the funds to support further product development, customer service, sales and marketing.

John Peebles, chief executive, said: Appointments in sales, marketing, product development and customer service will directly translate to helping our clients save time and deliver better education.  With customers on six continents, we’re proud to be located and creating jobs in Scotland, and couldn’t be where we are today without our team or our investors.”

Livingston-based Bloxx, whose web and email filtering software is used by schools, colleges and companies across Europe and the US, has received a further £800,000 of capital.  Bloxx plans to revamp its sales operation to take advantage of the growth in demand for real time filtering of content to ensure that customers can effectively block inappropriate internet and email content.

Chief Executive Charles Sweeney, said: “There are 100 websites launched every minute across the world and our real time web filtering lets schools, colleges and businesses protect themselves and their people from the less savoury content that they may otherwise be exposed to.  This investment from Archangels allows us to take our sales operation in the UK and USA to the next level.”

PowerPhotonic designs, manufactures and supplies high value optics that manipulate the light from lasers for customers in a range of sectors from defence to the medical sector. The company, based in Dalgety Bay, has received a further £2m of investment from Archangels and SIB.  The business will use the additional funding to increase its product development, manufacturing and sales & marketing capabilities.

Dr Roy McBride, chief Executive, said: “We’ve already proved that we can produce the highest quality optics for laser applications in a number of sectors here in Europe, in the US and in Asia Pacific.  This new investment in the business will accelerate our growth plans, allowing us to take on additional staff to expand our product development, manufacturing and sales activities.”

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