Scotland’s industry-led technology accelerator STAC has completed its second investment round, backing three companies whose technologies sit at the heart of national priorities.
The £772,000 round, co-invested by the STAC Invest syndicate will support quantum computing company Quantcore Technologies, housing inspection firm Vuabl and autonomous drone business Airspection.
All three have completed STAC’s intensive 18-month accelerator programme with Vuabl and Airspection establishing their first HQ’s at thebeyond, STAC’s 22,000 sq ft technology hub at Skypark in Glasgow.
The announcement marks a further step in STAC’s progress to become UK’s most active deep tech investor, making more ten investments a year into their accelerator participants.
Paul Wilson, CEO and co-founder of STAC, said: “These three companies show exactly what STAC is for. One is helping redefine the future of computing. One is giving people in social housing the right to a healthy, sustainable home. One is making Scotland’s clean energy infrastructure safer and more efficient.
‘Each is a strong story in its own right. Together, they demonstrate the breadth and ambition of what is being built here in Glasgow.
‘Local and global impact at scale. STAC is rapidly advancing our mission towards a global centre of technology excellence from Glasgow.”
Angus Macfadyen, head of investment at STAC, said: “We have now begun fundraising for our first institutional fund, targeting between £15 million and £30m.
“That will allow us to invest at greater scale and move faster because the pipeline of companies coming through STAC’s accelerator programme fully justifies it.”
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