Glasgow-based M Squared Lasers, a leading force in the UK’s growing laser and photonics sector, has received a further investment of £1.65m from BGF (Business Growth Fund) to support its continued rapid growth.
M Squared has seen consistent year-on-year growth since BGF’s initial investment in 2012, more than doubling its revenues every two years.
This latest investment will provide capital to help support the business as it expands across the UK, Europe and the US.
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M Squared has achieved an average annual average growth of 40% over the past four years, with current sales exceeding £10m.
The firm supplies laser systems to world-leading research institutions, including universities the likes of Oxford; Cambridge; Glasgow, and Birmingham in the UK; and MIT, Harvard and Stanford in the US.
It also partners with global research bodies to develop novel light-based applications, capable of tackling global problems.
Its advanced laser platform ‘SolsTiS’ is being used to underpin exciting scientific advances, for example it’s behind the world’s most accurate clocks and the first demonstration of teleportation of information.
Other notable projects include collaboration with the UK government’s £120m national network of Quantum Hubs to explore the properties of quantum mechanics.
M Squared Lasers’ founder and CEO, Dr Graeme Malcolm OBE commented: “BGF has been a long-time supporter of M Squared. Its continued investment has allowed us to maintain our fast-growth trajectory; scale up our manufacturing capacity; launch our Innovation Group, and expand in key export markets.
“Since 2012, we are thrilled to have received a number of awards and accolades for innovation and business growth, including the prestigious Queen’s Award for Enterprise in Innovation. BGF’s most recent investment is a resounding endorsement of the technology that we are developing and recognition of its disruptive impact.”
Patrick Graham, investor at BGF added: “The global presence of M Squared is impressive and its international growth potential was a major attraction to BGF at the time of our original investment in April 2012.
“The business has gone from strength-to-strength, and as a provider of long-term growth capital we are very supportive of its further expansion in target markets of the UK, Europe and US.
“The business has truly innovative products, skills and knowledge and despite its global reach has remained loyal to its Scottish roots.”