Aqdot Completes Series B
Aqdot, the Cambridge-based supramolecular chemistry company has completed a Series B funding round of £6 million, supported by existing investors Parkwalk Advisors and IP Group.
The investment accelerates commercialisation of Aq™Bit, the company’s proprietary platform chemistry, unique in its ability to capture, hold, and release materials as needed.
Initially focusing in the high value sectors of Air Quality, Personal Care and Life Sciences, the Aqdot Solutions part of the business works in partnership with companies to develop, license and supply novel products. This has the team working in areas from air filtering in transportation to delivery of therapeutics for cancer. The first of a pipeline of products through this area is Acticote®, an agrochemical pod sealant recently launched with partner Intracrop (part of Frontier/ABF/Cargill).
In parallel the Aqdot Products part of the company has recently launched its own brands AqStar™ M1 and Oderase®.
Sold through a distributor network, AqStar M1 is a naturally-derived emulsifier that provides formulation flexibility and distinctive aesthetics, enabling high-performing cosmetics to be formulated using naturally-derived ingredients.
Recently launched through Ocado, Oderase is the first and only fragrance-free odour erasing bathroom spray in the UK market. It has been approved by Allergy UK and Good Housekeeping and achieved Cradle to Cradle Certified™ SILVER level accreditation. Introduction of further products in the Oderase range as well as partnerships with leading household and personal care companies are in the pipeline.
Tim Wright, CEO of Aqdot said:
“We are grateful to our shareholders for all of their support as we launch new products and excited to accelerate the build of our own commercial team while in parallel actively seeking new commercial partners.”
Alastair Kilgour, Co-Founder and Partner at Parkwalk said:
“The Aqdot team has made rapid technical and commercial progress, we are pleased to support them as they move into the growth phase of the company pursuing revenues in numerous business verticals.”
Kelsey Lynn Skinner, Venture Partner at IP Group said:
“We are pleased to be supporting Aqdot as the team works with existing and new partners to commercialise new products in global markets”
Aqdot®is a Cambridge (UK)-based supramolecular chemistry company with a focus and expertise in developing, licensing and selling novel proprietary products. At the core of Aqdot is AqBit, a novel and versatile performance chemistry that has exceptional capability at capturing, holding and releasing materials. In unique and proprietary formulations, this chemistry is game-changing in a wide range of industries, including household and personal care products, fragrances, industrial chemicals, agrochemicals, and pharmaceuticals. Identifying unmet needs in these sectors, Aqdot develops products that enable our customers to introduce novel and differentiated brands and make a positive impact on the environment. www.aqdot.com
Parkwalk is the UK leading growth EIS fund manager backing world-changing technologies emerging out of UK universities and research institutions. Parkwalk has invested in over 100 companies since it was founded in 2009, with the Global University Venturing organisation recently announcing Parkwalk as the world’s second most active investor in this sector 2013-17. In 2019 Parkwalk won ‘Best EIS Fund Manager’ at the EIS Association awards for the third year running. www.parkwalkadvisors.com.
About IP Group
IP Group is a leading intellectual property commercialisation company which focuses on evolving great ideas, mainly from its partner universities, into world-changing businesses. The Group has pioneered a unique approach to developing these ideas and the resulting businesses by providing access to business building expertise, capital (through its 100%-owned FCA-authorised subsidiaries IP Capital and Parkwalk Advisors), networks, recruitment and business support. IP Group has a strong track record of success and its portfolio comprises holdings in early-stage to mature businesses across life sciences and technology. IP Group is listed on the Main Market of the London Stock Exchange under the code IPO. For more information, please visit our website at www.ipgroupplc.com.