A Cardiff-based firm which has developed technology that accurately measures greenhouse gas emissions has been boosted with a £12m equity investment round.
Photonics tech firm, QLM Technology, which also has operations in Bristol and San Francisco, has also struck a collaboration agreement with US energy sector tech firm Schlumberger - which is the lead investment in the Series A funding round that has also been supported by existing investors Green Angel Syndicate, Enterprise100 Syndicate, the Development Bank of Wales (£1m investment), Newable. Several private investors also participated in the round, as well as new investor Quantum Exponential.
The funding round also included British Business Investments funds committed to Green Angel Syndicate through its Regional Angels Programme.
