As new CEO hired...
Par Equity leads £750k support deal for UnikLasers
Paul Atkinson: it is one of the very best high-growth technology start-ups (pic: Terry Murden)
UniKLasers, a manufacturer of high precision scientific laser instrumentation, has completed £750,000 round of investment and hired a CEO to lead it to its next stage.
Par Equity led the deal, its second investment in the company since its recent partnership with British Business Investments through the Regional Angels Programme. This round, supported by the Scottish Investment Bank, takes UniKLasers’ total funding since 2017 to £2.3 million.
It will use this funding to expand and upgrade its manufacturing and R&D capability, continue to build its global sales and marketing pipeline and significantly increase its workforce in a market estimated to be worth $1.46bn.
Newly-appointed CEO Alan Faichney, a serial entrepreneur and business strategist, has helped restructure and guide a number of Scotland’s technology businesses, including Pufferfish, Arrayjet, Silent Herdsman and Edinburgh Instruments.
He has led several internationally-focused businesses through a succession of corporate finance and investment rounds to maximise shareholder value towards a planned exit process.
UniKLasers was founded in 2013 by Professor Fedor Karpushko. It manufactures high precision scientific lasers for industrial technology markets.
That year it concluded a private investment round, which was swiftly followed by support from Scottish Enterprise and Lancaster Capital Investment Syndicate, and since 2017 Innovate UK.
Paul Atkinson, sponsoring partner at Par Equity said: “Par Equity first invested in UniKLasers in 2017 and we are delighted to continue supporting the company as one of the very best high-growth technology start-ups.
“Through our EIS Fund, our Private Investor Network, our recent tie-up with British Business Investments and with the Scottish Investment Bank we are able to draw on a breadth of firepower for our portfolio.”
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