M Squared Lasers secures £3.85m growth funding

The Business Growth Fund (BGF) today unveiled its second investment in Scotland with an injection of £3.85 million of growth capital into Glasgow-based technology firm M Squared Lasers.

The company was founded in 2005 by Dr Graeme Malcolm and Dr Gareth Maker. It develops and manufactures lasers and optical instruments for industrial and scientific applications.

Malcolm said: “We are seeing considerable expansion in the potential applications for lasers, not least in the defence and medical industries where detection capability is critically important.

“BGF’s investment will allow us to further develop our laser technology and fund our sales and marketing efforts.”

The £2.5 billion BGF was formed by the big five bank last year to increase lending to small firms.

BGF business director Mark Bryant will join M Squared Lasers’ board as a non-executive director as part of today’s deal.