KROMEK has revealed it has raised £1.6m from new investors and existing shareholders, including venture capitalist Amphion Innovations. This makes a total of more than £5.1m raised by Kromek in the previous 12 months, despite the credit crunch. The company is now valued at £46.5m, double its valuation since its previous round of fund raising last year.
Richard Morgan, chief executive of Amphion Innovations, said: 'Despite a more challenging fund raising environment, we have successfully raised an additional £1.6m at double the valuation of the previous financing. This is a testament to the strength of Kromek's innovative technology and we look forward to positive developments in the future.'