Chemical technology business Aqdot has closed a £1 million seed funding round with help from Imperial Innovations, Cambridge Enterprise and other backers.
Having been spun-out from the University of Cambridge at the end of 2012, Aqdot has secured the capital it needs to further develop its technology.
The science behind the business was developed at the university’s Department of Chemistry by Chris Abell and Oren Scherman and involves the manufacturing of structures for encapsulating actives.
The chemical encapsulation technology allows very small droplets to be produced to carry what the company calls ‘active materials’ – such as those used in domestic detergents and agrochemicals.
Roger Coulston, co-founder and chief scientific officer of Aqdot, comments, ‘Instead of licensing to industry, we decided to form a company and to commercialise the technology through active industry engagement.
‘We chose as funding partner Imperial Innovations because of their experience and insight in building high-growth companies based on academic research.’
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Following the £1 million investment, Imperial Innovations entrepreneur-in-residence John Hamlin will be the launch CEO. Hamlin has experience in the sector having held positions at BP Chemicals.
Aqdot says that it is engaged with a number of interested corporate partners in a variety of industries, with priorities being made in the home care, personal care, nutraceuticals and agrochemicals areas.
Kelsey Lynn, director for Technology Ventures at Imperial Innovations, says, ‘We are delighted to lead this investment round alongside Cambridge Enterprise and other high-quality investors to build a company that can change the landscape of controlled realise functionality in encapsulation.
‘Aqdot benefits from a wealth of research undertaken at one of the world’s leading chemistry departments and is already receiving interest from a variety of large corporates.’