UWI Technology, an Edinburgh, Scotland-based smart labelling company, secured over £1.26m in funding.
Backers included US private investor Angel Syndicate, Aero-Den (Douglas Cribbes), the Scottish Investment Bank and a number of private investors in the UK.
The company intends to use the capital to fund continuing product development, increasing the senior management team, marketing trials and the sales and marketing function.
Founded in 2009 by CEO Pete Higgins, UWI provides the UWI Label that accurately identifies the critical use point of materials that begin to degrade from the point of opening.
The UWI Label is an elapsed time indicator that not only can show whether food is safe to consume or not, but reduces or eliminates risk and downtime in workplaces that incorporate products with critical lifespans in their processes. As well as its existing microfluidic label, the company is developing a hybrid label to monitor other measures such as temperature, pressure and humidity. The hybrid label will have the capability to send text or email warnings as well as communicating with other labels or devices.
Products with critical lifespans in their processes include chemical reagents, glues, sealants, aircraft product paints and composites, and apply critically in the aerospace, engineering, medical and life sciences industries.
Product trials are planned with leading companies across these sectors in early 2015.
FinSMEs
27/10/2014