Octopus leads £3.1m round for Spiralite

The fresh capital will enable Spiralite to add to its team and invest in product development.

The VC stated it was attracted by the company's management team and the potential for product innovation in the duct market.

Earlier this year, Octopus took part in a €3m series-A round for Smartkem, a UK-based provider of semiconductor materials for use in flexible display screens.

Company
Headquartered in West Thurrock, Essex, Spiralite makes heating, ventilation and air conditioning ducts formed from pre-insulated, organic, non-metal materials. The company says its products are 86% lighter than traditional ducts and 40% more energy efficient.

Spiralite ducts have been installed in large-scale London developments including a Marks & Spencer store in the Westfield Stratford City shopping centre, and Guy's and St Thomas's Hospital near London Bridge.

People
Jane Vinson is a member of the ventures team at Octopus. Mel Ragnauth is managing director of Spiralite.

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