Octopus has made a further investment into Metrasens, a technology company that manufactures detection products for a number of security and healthcare markets across the world.
Octopus first invested into the company in 2009.
Headquartered in Great Malvern in the UK, and with offices in Lisle, Illinois, US, Metrasens has designed the most portable full body scan system available. This is being used in prisons, police operations, police custody suites, embassies, hotels and other commercial venues that require highly-sensitive, quickly deployable and portable detection solutions.
Metrasens has also developed a product for use in the healthcare market. Through its Ferroguard brand of MRI safety systems, Metrasens is able to protect patients, staff and equipment in MRI suites across the world.
Luke Hakes, a principal on the ventures team at Octopus, says: “Metrasens has an impressive team behind it that is taking the business from strength to strength as it continues to increase its global footprint. The opportunity for it to build on its existing market share is significant and we look forward to continuing to work with the team to support the business through this next stage of development.”
Octopus is joined in this latest round of funding by C5 Partners, a new investment company focused on the safety and security technologies sector.
Simon Goodyear, founder and chief executive of Metrasens, says: “This is a very exciting stage in the growth of Metrasens, the investment from C5 and Octopus will enable us to accelerate our ambitious plans for growth.”