4 Apr 16
Evince completes first close investment round
Evince is pleased to announce that it today closed the first half of a new round of equity investment led by business angels. Together with a £230k Innovate UK award won last year, the investment secures the funding that will allow the company to complete the next stage of its development programme.
Diamond’s potential as a critical component of the new electronic age of renewable energy and hybrid/electric transport is widely recognised. Our investor group consulted widely to confirm that Evince has a unique practical approach to realising electronics using synthetic-diamond. Diamond offers the potential to yield devices able to perform 100x better than silicon and could therefore revolutionise electronics in applications across multiple, multi-billion dollar markets.
Our decision to invest was based on a number of factors beyond the technology including the company’s professional approach; its strong patented IP; and, in particular, the rigorous development programme it is embarking upon to deliver the first prototype solid-state diamond electronic devices.
James Morton, lead investor
The past year has seen Evince go through a sea change in the way we want to seek, engage and work with partners to take our technology to market. This is already starting to generate significant interest. After looking at various funding routes, we decided to go for the angel option. The angel group led by James brings not only investment but significant wisdom from their diverse background. However we are not being complacent and the books are still open for a second close of the current round. This additional money will allow the company to accelerate the development of additional prototypes and to expand engagement with potential partners.