Sheffield start-up IN-PART, which helps universities to commercialise academic research, has secured a £950k investment to boost international growth.
The Northern Powerhouse Investment Fund, managed by Mercia Equity Finance, has provided £750,000, while the additional £200,000 comes from two private investors.
The company, which also received seed capital of around £350,000 in 2016, employs 28 people with offices in Sheffield and London. This latest funding round will allow it to expand its teams in both locations.
As part of the deal, Thomas Jørgensen, co-founder of university software platform Pure, which was sold to Elsevier in 2012, will join the board as Chairman.
Patrick Speedie, Co-CEO and co-founder of IN-PART, said: “We’re pleased to receive support from the Northern Powerhouse Investment Fund as well as adding some great new non-executive expertise to our board.
“The funding will allow us to invest further in product development to scale our matchmaking platform and our Discover product, in line with our vision of connecting university research with companies around the world to positively impact on society.”
Nicola Broughton, Head of Universities at Mercia and who will join the In-PART board, added: “Universities have been responsible for some of the biggest breakthroughs in modern times and IN-PART is helping to transfer university technology across the globe.
“This latest funding will allow it to build its presence in the international marketplace and replicate the significant success it has enjoyed in the UK.”
