Xeros raises £10m for its clean machine

XEROS, the “virtually waterless” washing machine developer, has raised a further £10m worth of funding from new and existing investors.

The Rotherham-based environmentally friendly cleaning company, which was a spin-out from the University of Leeds, said the funding will be used to accelerate the roll-out of its commercial laundry cleaning system and finalise the development of a household system to replace conventional washing machines.

Xeros cleans clothes using nylon polymer beads that attract dirt when they are ‘tumbled’ with clothes in one of its machines.

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Invesco Perpetual managed funds invested £6m, with existing investors raising the balance of £4m. They included Enterprise Ventures, IP Group, Entrepreneurs Fund, Finance Yorkshire, and Parkwalk Advisors.

Bill Westwater, CEO of Xeros, said: “We have a big but simple idea: to convert the traditional world of aqueous washing to Xeros bead cleaning. Our superior cleaning method delivers a whole variety of benefits to people, businesses and the environment. This fundraise represents another milestone in our journey towards making that idea a reality.”

Enterprise Ventures first invested in Xeros in 2009 when it led a £920,000 fundraising round.

Julian Viggars, head of technology investment at Enterprise Ventures, said: “Xeros’ technology could redefine the future of domestic and commercial washing machines.”