Symetrica raises £4m investment to accelerate growth

Symetrica, a producer of radiation detection merchandise for navy and homeland safety purposes, has closed a £four million funding spherical.

The spherical was led by Parkwalk, an investor in startups spun out of UK universities – with participation from different current Buyers and the administration workforce – and features a provision for an additional £2 million dedication from a specialist defence and safety investor.

Symetrica was based in 2002 by the previous head of Physics and Astrophysics at Southampton College. The corporate manufactures, provides, and helps a variety of gadgets – from handheld and backpack-mounted sensors to vehicle-based detectors and drive by scanners – utilized by customs, border safety, regulation enforcement, emergency companies, navy personnel, and first responders to “see” radiation, enabling them to establish threats and reply accordingly.

Its proprietary Discovery Expertise – a mixture of patented algorithms and – allows its detectors to be two to 3 times extra correct than equal standard detectors.

Symetrica has workplaces and manufacturing websites within the UK and the US and employs 75 folks. The funding shall be used to accelerate world growth by enhancing the corporate’s worldwide gross sales programme.

Heddwyn Davies, CEO at Symetrica, mentioned: “In these extraordinary instances, this investment provides us the capability to enhance our gross sales and enterprise improvement assets and promote extra into worldwide markets the place we have now already gained prestigious contracts.

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“It additionally allows us to capitalise on multi-year procurement alternatives. We’re happy to have our current traders observe on on this spherical, and excited to see what we are able to obtain with their continued assist.”

Neil Cameron, Investment Director at Parkwalk, mentioned: “Symetrica’s Discovery Expertise is a large leap ahead for radiation detection and testimony to the high-class science and engineering capabilities of the workforce – in addition to to the significance of affected person capital for R&D-rich corporations.

“We’re happy to be main a spherical that may allow the workforce to capitalise on some vital buyer wins and accelerate worldwide growth.”

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