Insignia raises £865,000 from Equity Gap et al.

The funding round was also supported by Highland Venture Capital, the Scottish Investment Bank, the University of Strathclyde and several private investors.

The investment will be used to enable the company to carry out commercial trials with supermarkets and packaging companies in Europe and the US.

Company
Insignia has developed a smart label that changes colour over time to show how long a packet of food has been open. The patented technology, which uses a smart pigment, is designed to tackle the growing problem of food waste. The label works on the idea that by removing confusion over how long a pack has been open, unnecessary food waste is reduced.

The technology was initially developed at the University of Strathclyde's department of pure and applied chemistry. Insignia was created in August 2012 following the merger of Dundee-based Insignia Pack and Novas Technologies – a University of Strathclyde spinout.

Insignia will initially target the food production and processing sector but has plans to expand into the healthcare, cosmetics and pharmaceutical sectors.

People
Jock Millican led the deal for Equity Gap. Iain Scott is chairman of Highland Venture. Kerry Sharp is director of Scottish Investment Bank. David McBeth is director of research and knowledge exchange services at the University of Strathclyde. David Kilshaw is CEO of Insignia.

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