Keronite, a Cambridge-based surface engineering company, today announced the completion of a £1.2m funding round led by Azini Capital.
Keronite, a plasma electrolytic oxidation (PEO) company, is the provider of a patented process which transforms the surface of aluminium and magnesium components into a hard, dense ceramic which is resistant to corrosion and wear. This is said to enable the replacement of heavier materials such as steel, and has a favourable impact on design, fuel efficiency, emissions and recyclability.
Keronite says it sells and licenses its technology to a global community of product, engineering and manufacturing companies across a number of industries including automotive, aerospace, and defence.
The funding, which was led by Nick Habgood of Azini Capital, enjoyed strong support from RAB Special Situations Fund and RAB Innovations Fund and a number of existing investors who together contributed the £1.2m.