The cash injection – unveiled today – has created five skilled manufacturing jobs that have been filled by individuals previously employed in the oil and gas supply chain. Further posts are in the pipeline.
Vert Rotors was founded by tech entrepreneur and angel investor Olly Dmitriev in 2013 and produces ultra-compact gas compressors based on a “novel” technology. They are designed for aerospace, medical and other applications where vibration and noise have to be minimised.
The company will use the funding to increase capacity at its manufacturing facility in Gracemount in the capital and expand its customer base.
Business angel syndicate Equity Gap led the deal alongside venture capital firm Par Equity, US syndicate Aero-Den and the Scottish Investment Bank – the investment arm of Scottish Enterprise.
Managing director Dmitriev said: “This investment brings valuable highly skilled manufacturing jobs to Edinburgh and allows Vert Rotors to increase our sales outreach.
“Our products are fully manufactured in Scotland and exported to Europe and the US. We look forward to scaling up our operations following this investment.”
Vert created its first prototype in 2013. Ian Arbon, former managing director of Howden Compressors, former head of Peter Brotherhood and founder of Caledonian Compressors, joined the business as chairman in 2014.