PAS-Analytik GmbH, a Hamburg, Germany-based company that develops, produces and distributes spectroscopic gas sensors for industrial and medical applications, has received a €550k investment from High-Tech Gründerfonds (www.high-tech-gruenderfonds.de) and MAZ level one (www.mazlevelone.com).
The company plans to use the new capital to further develop its technology and to accelerate entry into the market for industrial and medical gas analysis.
Established in 2009 as a spin off from Helmut Schmidt University in Hamburg, PAS-Analytik develops innovative analyzers that detect gasses and measure their concentration. Based on the principle of photoacoustics, these systems are used in the energy sector, in the semiconductor industry and in the petrochemical industry.
The Hamburg-based corporate finance consultancy CatCap (www.catcap.de) advised the company in attracting new investors.