Portfolio company, DeepTech Recycling, a plastic recycling technology business offering an innovative solution to the environmental challenges of plastic pollution, has successfully closed a £0.8 million fundraising, with the combined investment amount which includes a prior close being £2.1 million.
With new premises and strategic hires in place, the company is poised to develop commercial facilities, contributing to sustainability and a circular economy.
The fundraising was led and syndicated by EMV Capital.
Dr Ilian Iliev, CEO of NetScientific and Interim Chair of DeepTech Recycling, commented:
“Marvine and his team have effectively leveraged the recent fundraise, accelerating DeepTech Recycling through critical development phases. We are excited to support their progress in major projects in the UK and internationally. This journey perfectly exemplifies our capital efficient and value-creation strategy, turning a once undervalued and distressed asset, effectively valued at zero in 2022, into a thriving venture, and providing NetScientific shareholders with a significant and valuable stake at minimal cost.”
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