Their successful pitch at our Newcastle Angel Hub event led to them raising £375,000 of equity from private investors with £150,000 matched with Innovate UK grant funding awarded through the Regional Angel Investment Accelerator (RAIA) programme (delivered in partnership with NorthInvest, North East BIC and UKBAA).
Evince, which is developing an innovative process to manufacture electronic devices on synthetic-diamond substrates will be using the funding secured in this round to further develop its technology and drive the company from Demonstration to Pilot phase for 2021.
Gareth Taylor, founder and CEO of Evince Technology, said:
“Evince Technology is poised to deliver the first major breakthrough to the component technology that sits at the heart of every x-ray system. This investment and Innovate UK match funding will bring us closer to realising innovative synthetic diamond-based products that could set new cost, performance and energy-efficiency standards within the sector. We’re very grateful for the support from NorthInvest and the Innovation SuperNetwork so far, as well as the ongoing support from our existing and new investors.”