Investors back green washer Xeros with £3.5 million

Green company Xeros has raised £3.5 million in new investment, which will be used to continue development of its water-saving technology.

Three new investors – Entrepreneurs Fund, Parkwalk Advisors and Finance Yorkshire – as well as existing stakeholders IP Group, IP Venture Fund and RisingStars Growth Fund II, have backed Xeros in the fundraising.

Xeros, a spin-out company from the University of Leeds, is the brand name for a patented polymer-based cleaning system that the company claims can save up to 90 per cent of the water used in washing compared with conventional front-loading machines.

The patented process uses reusable plastic beads alongside a small amount of detergent to absorb and remove dirt.

Xeros chief executive Bill Westwater says: ‘We now have the funds to step up our technical development, particularly towards our ultimate goal of developing a washing system for the household.

Nick Britton

Lexus Ernser

Nick was the Managing Editor for growthbusiness.co.uk when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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