Case study
aXenic, a leading manufacturer of advanced optical modulators used in satellite communications, has secured a £500,000 investment to support its continued growth following global demand for its technology.
| Region/Nation | North East |
|---|---|
| Sector | Technology |
| Programme | Northern Powerhouse Investment Fund II |
| Partner |
The funding includes £250,000 from NPIF II – Maven Equity Finance as part of the Northern Powerhouse Investment Fund II (NPIF II) and £250,000 from the Finance Durham Fund established by Durham County Council and overseen by Business Durham, both managed by Maven Capital Partners.
Based at the North East Technology Park (NETPark) in Durham since its spin-out from a NASDAQ-listed components manufacturer in 2015, aXenic has seen strong demand for its technology grow to the point where its current facility has reached full capacity. The capital injection will allow the business to scale its infrastructure and operations, embark on a recruitment drive and allow aXenic to invest in equipment and stock to meet growing demand from new and existing customers as it expands its reach.
aXenic develops and supplies complex electronic components that enable high-speed optical communication in space. Its technology is used in Low Earth Orbit (LEO) satellite constellations and aerospace applications, with current customers including major European satellite and aerospace manufacturers as well as international space agencies and emerging players in the global satellite communications market.
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