A listed private equity and infrastructure investment manager.
The investment round was led by Foresight Group and Williams Advanced Engineering to support international growth and manufacturing scale-up.
"Synaptec offers a truly disruptive technology that addresses a global problem. The experienced management team has already achieved a considerable amount of success over the past three years of development and we are delighted to have the opportunity to support the business as it scales."
Foresight has taken a minority equity position in the business through its venture capital trusts.
"The goal of Spektrix is to empower arts and entertainment organisations with the tools they need to excel in the evolving arts economy. This injection of growth capital gives us additional resources to expand strategically, increase the pace of innovation, and fully realise our ambitions for the sector on both sides of the Atlantic."
Foresight Group led the £1.3m investment to fund sales, marketing, and clinical trials.
"We have been impressed by the rapid progress FFL has made since launch of the second-generation OvuSense product with strong sales traction in the US and UK. FFL is a well-run business that has developed an innovative, clinically supported and IP rich product in OvuSense. We are looking forward to working alongside Rob Milnes and the wider management team on the next stage of the Company’s growth."
Foresight Group provided the capital through the Midlands Engine Investment Fund to support product prototyping and intellectual property development.
"This innovative game-changing textile manufacturing technology developed by Footfalls & Heartbeats is precisely the type of opportunity MEIF was created for, where funding from other sources is hard to come by. We look forward to seeing the Company develop and grow as we share the journey with this enthusiastic team."
