Aqdot completes Series B to accelerate product launches
10th April 2019
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 AqBit, 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”