Cambridge tech firms get £50m boost
A £50million funding round has been secured by Cambridge Innovation Capital (CIC) to support innovative technology companies in the Cambridge area.
The cash will provide long term equity finance for a number of start ups to help them bridge the critical middle stage of commercial development, the so called 'valley of death'.
Investors include ARM, the University of Cambridge and IP Group.
Mike Muller, pictured, co founder and cto of ARM, said: "We hope that a mix of investment to provide a springboard for innovative companies and mentoring will be a catalyst for the next series of successful 'ARMs' in and around Cambridge."
