A North Somerset robotics company has secured £500,000 from a top private equity firm as part of a £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’s largest wiring harness companies and car makers.
The investment was made through the British Business Bank’s South West Investment Fund.
Stephen Bennington, chief executive of Q5D Technologies, said: “We are really pleased to be partnering with Maven and the South West Investment Fund, their advice and capital are helping us drive the company’s growth. Q5D is already attracting large number customers and growing the support and business development teams is critical.”
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 £25k to £100k, debt finance from £100k to £2m and equity investment up to £5m.
Lizzy Upton at British Business Bank added: “We’re 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.”