Octopus in further funding round for Metrasens

The funding round also included C5 Capital, an investment company focused on the global security sector.

In 2010, Octopus committed £1.5m to the company through the Octopus Titan VCT 1, Titan VCT 2 and Titan VCT 3 funds, together with the Octopus Eureka EIS Portfolio Service and the Octopus Investor Group.

Octopus invests £250,000-5m per transaction.

Company
Founded in 2005 and based in Malvern, Metrasens specialises in metal detection products for the healthcare and security markets. The company has designed a portable full-body scan system used in prisons, police operations, custody suites, embassies, hotels and other commercial venues requiring detection solutions. Metrasens also produces an alarm system that alerts staff to the presence of ferromagnetic objects before they enter MRI suites in hospitals.

People
Luke Hakes is a principal on the venture team at Octopus and worked on the original investment in Metrasens. Simon Goodyear is founder and CEO of the company.

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