IEvo Ltd, a Newcastle upon Tyne, UK-based developer of a biometrics reader capable of scanning fingerprints at temperatures as low as -20 degrees, a received a £150k financing from the Finance for Business North East Fund.
The cash infusion will allow the company to manufacture the reader. IEvo intends to start exporting the product in the US and Europe within the the end of the year.
The funds were provided by the North Star Ventures‘ Accelerator Fund for early start-ups, the £20m vehicle focused on investing between £100k and £500k (maximum £750k per year) in high growth, innovative early stage businesses.
FinSMEs
12/07/2010