Archangels, the prominent business angel syndicate has announced that alongside Scottish Enterprise’s investment arm, Scottish Investment Bank (SIB), it has completed additional rounds of funding totalling over £3.3m for three growing Scottish businesses. 
All three businesses are now competing on a global stage and have received support from Archangels from early stage. The capital raised will enable all three Scottish entrepreneurial initiatives to fund further growth.
Around 60 of Archangels’ investor members chose to participate in these funding rounds.
PowerPhotonic Ltd which, from its Dalgety Bay base, designs, manufactures and supplies high value optics that manipulate the light from lasers for customers in a range of sectors from defence to the medical sector, has this week received a further £2m of investment from Archangels and SIB. The business will use the additional funding to increase its product development, manufacturing and sales & marketing capabilities.
Livingston-based Bloxx Ltd, whose web and email filtering software is used by schools, colleges and companies across Europe and the US, has received a further £800,000 of capital. Bloxx plans to revamp its sales operation to take advantage of the growth in demand for real time filtering of content to ensure that customers can effectively block inappropriate internet and email content.
Administrate is based in Edinburgh and provides online training management software that automates the workflow required to deliver education. The company has received a further £577,000 of investment in this most recent round and will use the funds to support further product development, customer service, sales and marketing.
John Waddell, Chief Executive of Archangels, said:
“Each of these businesses is world class in its own field and they are all excellent examples of the types of Scottish enterprises that Archangels is uniquely positioned to support. They simply couldn’t have developed to the stage that they have today without Archangels and we’re proud of what we have achieved together with all three businesses.”