Symetrica secures £4m Series C funding led by Parkwalk to accelerate international expansion
Parkwalk led the follow on investment round to help the radiation detection specialist expand its global sales programme.
Symetrica manufactures radiation detection products for military and homeland security applications, including handheld sensors, vehicle detectors and drive through scanners. The Southampton University spinout employs 75 people across the UK and the US.
Radiation detection specialist Symetrica has secured £4m in a Series C follow on funding round led by Parkwalk. The capital will be deployed to accelerate international growth and expand global sales operations. Existing investors and the management team also participated in the raise, which includes provision for an additional £2m commitment from a specialist defence and security investor.
The company develops proprietary hardware and algorithms that provide high precision isotope identification for military, law enforcement, and border protection agencies. With offices in the UK and the US, the business already supplies government departments and international partners. The new injection of funds will allow the team to capitalise on multi year procurement opportunities and build on existing contracts.
From the founder
"In these extraordinary times, this investment gives us the capacity to increase our sales and business development resources and sell more into international markets where we have already won prestigious contracts. It also enables us to capitalise on multi-year procurement opportunities. We’re pleased to have our existing investors follow on in this round, and excited to see what we can achieve with their continued support."
Heddwyn Davies
CEO at Symetrica
Use of funds
- 01Expand into international markets
