A North Somerset robotics company has secured 拢500,000 from a top private equity firm as part of a 拢2m investment round. Q5D Technologies said it would use the cash from Maven Capital Partners to expand its testing hub in Portishead and support the delivery of contracts.
The funding will also be used to scale its innovative platform which automates the process of adding wiring and electronics to 3D surfaces. The platform has gained interest from major industry players, including several of the world鈥檚 largest wiring harness companies and car makers.
The investment was made through the British Business Bank鈥檚 South West Investment Fund.
Stephen Bennington, chief executive of Q5D Technologies, said: 鈥淲e are really pleased to be partnering with Maven and the South West Investment Fund, their advice and capital are helping us drive the company鈥檚 growth. Q5D is already attracting large number customers and growing the support and business development teams is critical.鈥
Q5D's wire laying process is used across multiple sectors, including automotive, aerospace, and consumer electronics.
Melanie Goward, partner at Maven Capital Partners, said: "We are thrilled to support Q5D Technologies as they scale their operations. Their unique approach to additive manufacturing, combined with impressive early traction with major industry players, positions them well for rapid growth. We look forward to working closely with Stephen and the team as they look to meet the increasing demand from global leaders in the automotive and aerospace sectors."
The South West Investment Fund offers a range of commercial finance options with smaller loans from 拢25k to 拢100k, debt finance from 拢100k to 拢2m and equity investment up to 拢5m.
Lizzy Upton at British Business Bank added: 鈥淲e鈥檙e excited to support Q5D as they scale up their operations, bringing their cutting-edge technology to market. The South West Investment Fund helps support and foster innovation across the South West and we look forward to seeing Q5D deliver its pioneering solutions to manufacturing sectors in the region and beyond.鈥
