M Squared Lasers has secured significant investment from Barclays and The Business Growth Fund, which the company will use to accelerate growth in the world export market. The Scottish firm’s global influence has been growing strongly since it was founded in 2006; in particular the United States office doubled its revenue in 2014.
The company received a funding package worth more than £2.5m from Barclays, and a further £750,000 from BGF following on from earlier investment of £3.85m in 2012.
M Squared explores, develops, and manufactures lasers and photonic instruments. Its products have a wide range of potential applications including oil & gas exploration, cancer detection, through to the discovery of explosives through spectral scans.
A large growth area for the company is the application of quantum technology which is being harnessed to create a new generation of electronics, including sensor instrumentation, communications systems and powerful computer processing systems.
M Squared co-founder Dr Graeme Malcolm said: ‘We’ve been expanding our export business for some time and have been making great headway in world markets. This latest investment will provide important support as we continue to pursue our ambitious growth objectives.’
The Sunday Times’ Tech Track 100 recently named M Squared Lasers the winner of the ‘One to watch’ category. The company was also selected to join a specialist group at the London Stock Exchange’s two-year ELITE program for high-growth private UK companies April 2014.