Enterprise Ventures et al. invest £10m in Xeros Ltd

Invesco Perpetual invested £6m, with existing investors raising £4m. These include Enterprise, IP Group, Entrepreneurs Fund, Finance Yorkshire and Parkwalk Advisors.

The fresh capital will be used to accelerate the roll-out of Xeros's commercial laundry cleaning system and finalise the development of a household system to replace conventional washing machines.

Enterprise first invested in Xeros in 2009 when it led a £920,000 fundraising round.

Company
Founded in 2006, Xeros span out from the University of Leeds and has developed a near-waterless laundry system, reducing the cost and environmental impact of clothes cleaning. The patented process uses reusable plastic beads alongside detergents to absorb and remove dirt.

The $100bn global laundry industry is the initial market for the system. The technology was launched in late 2012 at Jeeves of Belgravia in London and Watford Launderers & Cleaners, followed by sites in North America.

People
Julian Viggars is head of technology investment at Enterprise. Bill Westwater is chief executive officer of Xeros.

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