Consortium of investors injects $5.5m into TeraView

Amy King
31 January 2012

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A consortium of EU, US and Asian-based investors that includes YFM Equity Partners and Turquoise International has invested $5.5m in UK-based Terahertz systems and solutions provider TeraView.

Turquoise International invested on behalf of the UK Low Carbon Innovation Fund (LCIF), based at the University of East Anglia.

The investment will support the growth of TeraView's semiconductor, industrial and analytical business in Asia, the US and the EU, with a particular focus on sales and marketing in Asia.

Company
TeraView was spun-out of the Toshiba Cambridge Research Laboratory in April 2001 and is based in Cambridge. The company has developed an application using Terahertz light for 3D imaging and spectroscopy. Terahertz waves are found between infrared and microwaves in the spectrum and are non-invasive and non-destructive.

The company is developing the application of its technology for the non-invasive detection of concealed weapons and explosives and the contents of tablets and capsules. The mobile phone and consumer electronics industries have shown an interest in TeraView's semiconductors, currently used by Intel.

People
Director Kevin Murphy led the deal for Turquoise International. David Livesley is investment director at YFM Equity Partners and worked on the transaction. Richard Harvey is chair of the LCIF Investment Committee. Don Arnone is chief executive of TeraView Ltd.

Advisers
Equity – Mills & Reeve (Legal); JAG Shaw (Legal)
Company – Taylor Wessing (Legal).