Edinburgh-based Par Equity invested £38m into tech companies across the North of the UK in 2022.

Founded in 2008, Par Equity invests across Northern England, Northern Ireland and Scotland and backs innovative and high growth technology.

As well as deploying £38m into tech companies across the North of the UK in 2022 – up from £25m in 2021 – Par Equity added 10 new companies to its portfolio, including Machines With Vision, Fuuse, RAB-Microfluidics, Aveni, StretchSense, Interpac, Advanced Electric Machines and Kinsetsu.

Par Equity has just led a £1.6m seed funding round into Glasgow-headquartered Gigged.AI, for its artificial intelligence-powered recruitment software.

Its technology matches people to suitable hiring companies and reduces unnecessary hires.

Par Equity also secured further returns for its investor base with the sale of Optoscribe.

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Par Equity partner Andrew Noble said: “As an economic zone, the North of the UK is the equivalent of the eighth largest country in Europe and the 20th largest in the world.

“We see enormous opportunity here. Our world-class academic institutions and technology hubs are awash with innovation and there’s a fantastic pipeline of talent emerging across the north of the UK.”

In September Par Equity welcomed RAB-Microfluidics to the Par portfolio as part of its £2.2m funding round with support from existing investors Eos, Newable Ventures and Scottish Enterprise.

The Aberdeen-based business has developed and patented a disruptive Microfluidics ‘lab on a chip’ that is set to radically improve oil lubrication analysis in the global maritime industry.

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