Fios investors pump £3.9M into Scottish Businesses

Four emerging Scottish companies have received a welcome cash injection of nearly £4 million. The funding has been made through Scottish business angel syndicate Archangels. In addition, Scottish Enterprise’s investment arm, the Scottish Investment Bank contributed.

Archangels funding director Niki McKenzie said the funded companies were “each Scottish success stories. Additionally, these companies are selling their ideas, products and expertise around the world”. 

These companies are involved in software production, bioinformatics analysis, and technology systems.

Investment for Fios Genomics

Fios Genomics received £550,000, including funding from Borders-based angel network TRI Cap and its own directors. This will be used to invest in IT infrastructure. Other tasks will be creating five new roles in quality assurance, project management and marketing. A great achievement for a bioinformatics service provider.

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