QLM Technology secures £3.1m in seed funding led by Green Angel Syndicate to scale its quantum gas camera development.
The seed round was led by Green Angel Syndicate with participation from a syndicate of green investors and industry partners.
QLM Technology develops quantum-enabled gas imaging cameras to detect and quantify greenhouse gas emissions. The photonics company operates from offices in Cardiff, Bristol, and San Francisco.
QLM Technology has secured £3.1m in a seed funding round led by Green Angel Syndicate to expand its technical and commercial operations. The capital will also fund industrial validation for its quantum TDLidar technique and prepare its quantum gas camera for commercial readiness.
Participation in the round spans a multidisciplinary group of backers, including Enterprise100, Newable Venture Fund, Development Bank of Wales, Bristol Private Equity Club, Britbots Seed Fund, and ChampionX. The fresh financing follows the company's recent recognition as a 2021 BNEF Pioneer.
From the founder
"This funding round will enable us to scale up our development and launch our business providing next-generation greenhouse gas monitoring. Our unique quantum Lidar is the right solution for the challenge of how to effectively measure industrial methane emissions, and meet the major commitments that the oil and gas majors have made to control their greenhouse gas emissions."
Murray Reed
Chief Executive officer at QLM Technology
Use of funds
- 01Continue product development
- 02Fund research and development
- 03Scale operations
Investors
Green Angel Syndicate
Enterprise100
Newable Venture Fund
Development Bank of Wales
Bristol Private Equity Club
Britbots Seed Fund
ChampionX
Categories
About the company
QLM Technology
QLM Technology builds quantum gas imaging cameras to detect and measure greenhouse gas emissions.