The London Technology Fund (LTF), a specialist investor in new technology companies, has announced that it has committed to an investment of £600,000 in Imperial College spin-out Deltadot
Deltadot is a developer of biotools that enhance productivity in pharmaceutical and biotechnology research.
The investment is part of an important funding round that will raise £6m for the company.
Other major participants in the funding round included Fleming Private Equity, Imperial Innovations , Nikko Principal Investments and Sitka VCT.
Commenting on the fundraising, Anthony Baxter, CEO of Deltadot said: "The growth of our business is accelerating as we transition from a research and product development company into a fully fledged commercial organisation with successful products entering the marketplace and a strong development pipeline".
"The continuing loyalty of our investor base is a tremendous vote of confidence in Deltadot and we are delighted to have new investors of the calibre of the London Technology Fund." David McMeekin, Chairman of the London Technology Fund, said: "We are delighted to be investing in Deltadot as it completes its transition to a commercial organisation".
"Tony Baxter is well known to the founders of the Fund from our work together on another successful spin-out from Imperial and we are delighted to have this opportunity to be working with him again and with Imperial Innovations".
Susan Searle, CEO of Imperial Innovations, said: "Imperial has worked with the founders of the London Technology Fund for many years and we are delighted that the Fund has invested in Deltadot.
"Our own further investment in Deltadot is a testament to our confidence in the value of this technology and our commitment to backing quality opportunities in our spin-out portfolio".
