“Oxonica is one of the few nanotechnology companies that is turning ideas into real commercial products,” said investor Bernard Fairman, Managing Partner at VCF Partners.

The 1999 Oxford University spinout is currently conducting field trials of many of its nanotech products in the medical diagnostics, healthcare and personal care/ cosmetics industries. Oxonica’s technology has practical applications for cleaning up the environment with what are called ‘catalysts’ that detoxify waste materials and for the cosmetic and healthcare industries with the creation of more effective sunscreens.

Investors in the financing round commented on Oxonica’s number of fundamental patents, which allow it to participate in a wide range of applications and give it an extensive market advantage over other, more specialized, nanotech firms.

Oxonica felt particularly pleased with the funding coming in such a harsh funding environment. “This round not only provides us with the funds to rapidly grow the company but it is also strategically important as investment in and validation of Oxonica by such leading, well respected companies means that there is already early interest in our future IPO,” said Dr. Kevin Matthews, Oxonica’s CEO.