Cambridge-founded chemicals products maker Aqdot has welcomed the return of IP Group and Parkwalk Advisors in its latest round, taking its funding total to $16.5m.

Aqdot, a UK-based chemicals products manufacturer based on University of Cambridge research, on Wednesday closed a £6m ($7.8m) series B round backed by commercialisation firm IP Group and its fund management arm Parkwalk Advisors. Founded in 2013, Aqdot develops, licenses and markets materials products based on its performance chemical creation platform, dubbed Aqbit. The company’s Aqdot Solutions arm develops products in conjunction with clients, with an initial focus on personal care, air quality and life sciences applications, including an agrochemical pod sealant called Acticote recently launched with agrichemical producer Intracrop. Other products Aqdot Solutions is working on include air filtering systems for transportation and the delivery of cancer therapeutics. Through its Aqdot Products division, Aqdot markets products formulated in-house, including a naturally-derived emulsifier for cosmetics called AqStar M1 and a fragrance-free anti-odour spray branded Oderase. Aqdot last raised $7m in a 2016 series A round led by Imperial Innovations, the Imperial College London tech transfer office subsequently absorbed by IP Group, though the university has since resumed control of the brand. Cambridge Enterprise, the tech transfer office of University of Cambridge, also participated in the series A round together with Parkwalk Advisors and Providence Investment. Cambridge Enterprise and Imperial Innovations also backed Aqdot’s $1.7m seed round in 2013 alongside unnamed additional investors, according to GrowthBusiness.co.uk. Aqdot’s founding research was undertaken by two professors at University of Cambridge’s Department of Chemistry  – Chris Abell and Oren Scherman.

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