Metir pumps up growth plans with £1 million raise

A water testing technology firm has unveiled seven-figure expansion plans. 

Metir has completed a fundraise to pump up to £1 million into future operations.

Bosses say the move will “accelerate growth” at the York-based business by increasing product development and strengthening its international order book.

Hailing the potential of the cash drive, the business – known for toxicity monitoring and contaminant detection services – adds it will support large-scale potable projects and develop software and system performance.

Bob Moore, executive chair and chief executive, said: “Customer demand across our instruments, reagents and testing kits continues to grow, supported by a strong international pipeline. 

“While commercial momentum is encouraging, the pace at which we can convert this demand into revenue is currently constrained by working capital and manufacturing capacity.

“This fundraise will enable us to accelerate instrument production, support larger-scale continuous toxic monitoring projects and advance several high-value technologies towards commercialisation. 

“These initiatives will strengthen our recurring revenue model and support our objective of moving the business towards sustainable profitability.” 

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