MTI leads £3.8m round for Manchester Uni spinout Arvia
MTI Partners, Sustainable Technology Investors Limited, Park Walk Advisors and other investors have backed technology company Arvia Technology with £3.8m.
MTI's investment was made via the firm's Orion Fund, which is dedicated to supporting university spinouts.
MTI first invested £800,000 in Arvia in September 2008. It injected another £250,000 in May 2010.
Company
Arvia is a spinout from the University of Manchester's School of Chemical Engineering. It develops cleaning solutions for contaminated and waste water without using process chemicals. Arvia was founded in September 2007 by Ted Roberts and Nigel Brown.
People
Jim Totty of Sustainable Technology Investors will join Arvia's board as investment director. Mark Rahm and David Rahm of MTI joined the board in 2008.
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