HALO X-ray Technologies (HALO) has secured investment from venture capital firm Midven and the Midlands Engine Investment Fund (MEIF).
This finance injection will allow HALO to create 20 engineering and software development jobs over the next three years, as it focuses on the commercial exploitation of its technology and develops new systems with reduced time to market.
Simon Godber, CEO of HALO X-ray Technologies, said: “We are delighted to have received the investment from Midven. It will allow us to move the business onto a more commercial footing, recruit the necessary specialised staff and reduce time to market. We want to surpass our prior expectations to enhance security, improve passenger experience and increase throughput, all whilst reducing overall costs for airports.”
Roger Wood, Director at Midven, said: “HALO has developed a cost-effective and potentially disruptive additive technology that could bring significant passenger safety and commercial benefits to the airport security market. The MEIF investment will enable the company to complete commercialisation of its initial products and focus on business development activities and customer engagement.”