Pireta raises £500k from Oxford Investment Opportunity Network angels to develop smart textiles
The smart textiles company surpassed its initial £400k target with backing from two angel investors.
Share allotment filed at Companies House
Pireta adds electrical conductivity to fabrics at any stage from yarn to finished garment.
Pireta has secured £500k in an investment round backed by members of the Oxford Investment Opportunity Network. The total surpassed the company's initial £400k target, drawing support from two experienced angel investors who have also taken seats on the board as non-executive directors.
The company applies a unique patented process to add conductivity to fabrics at any stage from yarn to garment, preserving the original feel and stretch of the material. The newly secured capital will be directed towards advancing the development and commercialisation of its technology.
Use of funds
- 01Continue product development
- 02Fund research and development