Six-Figure Boost for NETPark based Synthetic Diamond Maker

A synthetic diamond start-up based at the North East Technology Park (NETPark) in County Durham has secured a six-figure investment from angel investors.

Dyman Advanced Materials secured £571,000 following  a joint NorthInvest and Newcastle Angel Hub pitch event which initially led to a £65,000 investment in January 2020.

The latest funding was also supported by E2E Capital Ventures, a partner of NorthInvest.

It will enable 18 months further technological development into pilot-production to prove the commercial potential of diamond production and generate initial revenue for the company.

Dr Gary Gibson, founder of Dyman, said: “We are delighted about the investment we have received and are well on track to now refine and develop our innovative technology into our first production lines.”

Jordan Dargue, access to finance manager at Innovation SuperNetwork and investment director at NorthInvest, added: “It’s always really rewarding to see a business go from strength-to-strength whilst we work with them. Our journey with Dyman has allowed them to secure appropriate investment at every stage of development and I’m excited to see where the latest round of investment will take them next.”

News source: Insider Media North East

Dr Gary Gibson

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Access to quality facilities was one of the main drivers for deciding to locate the business at the NETPark. We have been able to use this as a launch pad to link into support from CPI and world-class expertise from Durham University.

Steve Clements, - Managing Director, aXenic

CPI has developed a specialist offering to support SMEs looking to develop their printable electronics applications and our partnership with Business Durham has been instrumental in attracting several SMEs to locate here in the region.

Dr Jon Helliwell, - Director of Printable Electronics, CPI

The quality of the facilities at NETPark and the attitude of staff is first class. It has a really dynamic, innovative atmosphere.

Dr Neil Loxley, - Chief executive, IBEX

The proximity to the universities and the infrastructure are very important factors. Ultimately having a presence in Europe is very valuable to us and we intend to stay at NETPark for many years to come.

Dr Arnab Basu, - CEO, Kromek

It fits perfectly for us that we’re surrounded by like-minded companies at NETPark. There are a number of highly skilled people in the area who can help us grow our business. The facilities and services offered by NETPark are first class, they make office life simple and engaging.

Stuart Wilson, - CEO, Ascarii

We initially came because of the printable electronics centre but access to a highly skilled semi conductor workforce in the North East has been a key factor in us staying and growing here, as well as the value for money office space and the access to funding.

Ken Williamson, - COO, PragmatIC Printing
2021-05-17T11:02:08+00:00
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