University of Manchester spin-out Arvia Technology, which treats organic liquid waste, has raised money from prior backer MTI, as well as investors Sustainable Technology Investors and Park Walk Advisors.
Arvia Technology, a University of Manchester spin-out company which treats organic liquid waste, has raised £3.8m ($6.1m) from investors including venture firms MTI Partners, Sustainable Technology Investors and advisory firm Park Walk Advisors.
A number of smaller existing shareholders also invested.
Arvia has commercialised its technology to destroy organic substances that are either dissolved or dispersed in water.
Jim Totty, from Sustainable Technology Investors, and Gordon Lawson will join Mark Rahn, from MTI, as investor directors on the Arvia board.
MTI backed Arvia Technology through its UMIP Premier Fund in September 2008, and it was joined in the £800,000 round by investment managerAlliance Fund Managers’ Merseyside Special Investment Fund and private individuals.
MTI’s managing partner, David Ward, commented “Arvia was the first spin-out investment from the University of Manchester that MTI invested in from the UPF. The company has been a fantastic role model, using MTI’s initial series of investment…
