UK-based photonics and quantum technology company, M Squared, has raised £32.5M (approx €36.4M) in a fresh round of funding from Santander UK – a British bank, and newly formed Scottish National Investment Bank, to support growth and technology developments of the company.
Transaction and use of the raised capital
Santander UK will be providing a £20M (approx €22.4M) debt facility, allowing M Squared’s founders and management team, led by Dr. Graeme Malcolm OBE, to fund the acquisition of the substantial part of BGF’s current shareholding along with fuelling the next stage in business and technological growth. The newly formed Scottish National Investment Bank will also support M Squared with £12.5M (approx €14M) of growth capital.