Finance Wales has led a £600,000 funding round for opto-electronics company Trace Technologies Ltd. Trace Technology's new software Photonic Interconnect System Designer (PISD) will enable the time taken to fit fibre optic cabling into aircraft to be slashed. Geoff Andrews, a xénos Wales Business Angel Network investor, HSBC, an existing shareholder, and Regional Selective Assistance from the Welsh Assembly Government also contributed to the funding round.
Laura Clayfield and Raj Mukherji have joined the London-based mid-market sponsor
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Despite macro woes, sponsor wants to build up on last year’s pace of investment and exceed GBP 400m mark in 2023