Canterbury-based Syft Technologies that trades on New Zealand’s Unlisted Securities Exchange (USX: SYF) has raised a minority investment from Ampersand Capital Partners. The provider of Mass Spectrometry (SIFT-MS) will use the fund to accelerate its progress in the semiconductor market and develop the next scalable opportunity in life sciences.
As a part of the investment, Ampersand’s David Patteson, who leads the company’s Portfolio Acceleration team, will join Syft’s Board. David is currently serving as the Chairman of US headquartered Alliance Pharma.
2002 founded Syft develops SIFT-MS, a form of direct mass spectrometry that analyses volatile organic compounds (VOCs) in air with typical detection limits at parts-per-trillion level (by volume; pptv). Realtime, quantitative analysis is achieved by applying precisely controlled soft chemical ionization and eliminating sample preparation, pre-concentration and chromatography. Syft’s SIFT-MS instrumentation is industry-proven, providing non-technical operators with laboratory-grade chemical analysis presented in a format that they can understand and act on.
Alex Fala, CEO of Syft, comments “We are excited to partner with Ampersand and benefit from the firm’s expertise and networks as we continue to build on Syft’s momentum and develop our next scalable opportunity in life sciences.”
David Patteson, Partner at Ampersand, shared “Syft has a remarkable technology and product platform, with notable traction in semiconductor and adjacent segments. Their life science market pull, applications, and commercial expertise, combined with Ampersand’s investments, should allow for meaningful penetration and adoption rates. We are thrilled to partner with their executive team, board, and shareholders to help realize the full potential.”
