Fundraise: multi-million dollar investment in HALO X-ray Technologies

Kinetix advised HALO X-ray Technologies (HALO), the pioneering X-ray detection technology company, on its multimillion dollar investment round led by Agilent Technologies, Inc. with other existing Blue Chip investors UK Innovation Science Seed Fund (UKI2S) and the Midland Engine Investment Fund (MEIF) also participating.

The investment enables HALO to complete regulatory approval of its advanced security screening technology ahead of production and scaling up its commercial activities.

HALO, a Nottingham Trent and Cranfield Universities spin-out, has developed advanced X-ray diffraction (XRD) technology designed to help security operators make faster and more informed screening decisions. Unlike conventional X-ray systems, which can struggle to distinguish genuine threats from everyday items, HALO’s technology provides a more precise understanding of the materials being screened.

As airports and border agencies face increasing pressure to improve passenger throughput without compromising security, technologies that can reduce operational bottlenecks, lower operational costs, and improve the passenger experience are becoming increasingly important.

Geoff Winket, Vice President of Agilent Spectroscopy Division said:  “Agilent’s further investment in HALO reflects our confidence in both the transformative potential of their XRD technology and the quality of its team. We are excited to be supporting HALO as it moves towards commercialisation.”

Simon Godber, CEO, HALO X-ray Technologies said: “This funding round is genuinely transformational for HALO. We are delighted that Agilent, UKI2S and MEIF — who know our business better than anyone — continue to support us through this next stage of growth. It is a vindication of our strategy and, most importantly, provides the runway needed to realise the potential of our XRD technology and a significant step closer towards commercial scale-up, bringing our technology to a global market. We are excited about what comes next.”

Ray Barrett, Kinetix partner, said: “HALO is yet another example of a fantastic industrial deep tech UK University spin-out. The fundraise is an important validation of its technology by a multi-billion dollar US tech firm. We look forward to continuing to advise and assist the Company on its exciting journey.”

Selected press coverage here