HALO X-ray Technologies has completed a multimillion-dollar funding round led by Agilent Technologies. Existing investors, UK Innovation Science Seed Fund and the Midlands Engine Investment Fund, also participated.
The financing will help HALO complete regulatory approval for its advanced security screening technology. The company will also use the capital to prepare for production and expand its commercial activities.
The round represents an increased investment by Agilent and continued backing from UKI2S and MEIF. All three investors had previously supported HALO and have followed the company’s technical and commercial development.
HALO is developing X-ray diffraction technology designed to improve the identification of materials during security screening. The platform aims to help operators make faster and more informed decisions when examining baggage and other items.
Conventional X-ray screening systems generally create images based on the density and shape of objects. These systems can sometimes have difficulty distinguishing threatening materials from harmless everyday products with similar visual characteristics.
HALO’s X-ray diffraction technology is designed to provide more detailed information about the molecular or structural composition of screened materials. This additional information could help security personnel determine whether an item represents a genuine threat.
The company is initially targeting security environments where operators must process large numbers of people and items without compromising safety. Potential users include airports, border agencies and other organizations responsible for high-volume screening.
Airports and border authorities face pressure to increase passenger throughput while maintaining effective security standards. More precise detection could reduce unnecessary secondary inspections, operational bottlenecks and delays caused by inconclusive results.
HALO believes its technology could also lower operational costs and improve the passenger experience. Faster screening decisions may allow security teams to focus their attention on items that present a higher probability of risk.
The Nottingham, England-based company develops detection and analytical instruments for applications requiring real-time information. Its technology is being designed for deployment across multiple markets and operational environments.
The new funding provides HALO with additional runway as it works through regulatory requirements and prepares its platform for commercial production. Completing these steps will be important before the company can begin deploying the technology at greater scale.
Agilent’s increased participation also connects HALO with an established provider of analytical and measurement technologies. The investors said HALO’s progress, management team and commercial potential contributed to their decision to provide additional capital.
HALO will now focus on completing the approvals needed for commercialization and strengthening its production capabilities. The company ultimately plans to bring its X-ray diffraction screening technology to customers across international markets.
KEY QUOTES:
“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.”
Geoff Winkett, Vice President and General Manager of Agilent’s Spectroscopy and Vacuum Division
“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.”
Simon Godber, CEO of HALO X-Ray Technologies
