Sigma Technology Venture Fund (“STVF”), a fund managed by Sigma Technology Management Limited (“Sigma”), is pleased to announce that it has led a total investment round in DEM Solutions Limited of £1,000,000. STVF invested £550,000 as lead investor while the Scottish Co-investment Fund invested £450,000.
DEM Solutions was founded in 2002 and has developed EDEM, which is a world leading particle mechanics simulation tool that is used by leading industrial companies to simulate and analyse the behaviour of particulate matter. EDEM enables customers in industries ranging from pharmaceuticals to mineral handling, to design, develop and test products and processes more quickly and accurately than was previously possible and in doing so reduce development costs and time to market.
This round of funding will be used primarily to support further expansion of the company’s commercial activities in Europe, US and the Far East.
Mark Hogarth, Business Development Director of Sigma, who joined the Board as a non-executive director following the investment, said, “We were initially attracted to the fact that DEM Solutions has developed a world class product that enables companies to simulate particle handling and manufacturing operations in a way that was not previously possible. We were also very impressed with John Favier and his team from the outset, and look forward to working with them as the company continues to grow. This investment also highlights the continuing contribution of the Scottish Co-investment Fund, which made it easier to put together the required funding package for DEM Solutions.”