Scottish Investment Bank

The Scottish Investment Bank is a public body supporting economic growth in Scotland. It facilitates finance for small to medium-sized businesses, focusing on sectors such as renewable energy, technology, life sciences, and creative industries. The bank works closely with portfolio companies to strengthen management teams and accelerate growth.

Reuben Aitken

Managing Director, International Operations

Rhona Allison

Managing Director, Business Growth

Susan Armes

Senior Investment Manager

Victoria Carmichael

Commercial Director

Steve Dunlop

Chief Executive

Adrian Gillespie

Chief Executive and Board Member

Mark Hallan

Global Director, Strategic Relationships

Linda Hanna

Managing Director

Jane Martin

Managing Director of Innovation and Investment

Jim McFarlane

Managing Director of Operations

Kerry Sharp

Director of Entrepreneurship and Investment

Charlie Smith

Managing Director of Scottish Development International and Group Head of Strategy and Technology

Past deals in Aerospace

Aurora Avionics

Seed Round in 2025
Aurora Avionics is a manufacturer focused on air and spacecraft, particularly in the development of launch vehicles. The company specializes in creating flexible and modular avionics platforms, which include essential electrical systems for flight and fault-tolerant hardware. Aurora Avionics aims to provide standardized and universal control systems, facilitating procurement for space agencies and enhancing the efficiency of launch-vehicle development.

Novosound

Venture Round in 2024
Novosound Ltd, founded in 2016 and based in Edinburgh, United Kingdom, specializes in the design and manufacture of innovative ultrasound sensors that address the limitations of traditional technology. As the first spin-out from the University of the West of Scotland, Novosound employs groundbreaking thin-film manufacturing techniques to create highly customizable and scalable ultrasound solutions. The company’s products are utilized across various sectors, including aerospace, oil and gas, industrial applications, as well as in medical, veterinary, and dental fields. By developing advanced imaging sensors, systems, and software, Novosound enhances high-resolution ultrasound imaging, thereby providing clients with improved capabilities in non-destructive testing and diagnostics.

Aurora Avionics

Pre Seed Round in 2024
Aurora Avionics is a manufacturer focused on air and spacecraft, particularly in the development of launch vehicles. The company specializes in creating flexible and modular avionics platforms, which include essential electrical systems for flight and fault-tolerant hardware. Aurora Avionics aims to provide standardized and universal control systems, facilitating procurement for space agencies and enhancing the efficiency of launch-vehicle development.

Bright Ascension

Convertible Note in 2024
Bright Ascension Ltd. is a software and hardware development company dedicated to the space industry, founded in 2011 and headquartered in Dundee, United Kingdom. The company specializes in creating a unified software platform and tool suite that facilitates the efficient integration of diverse space systems, ranging from satellites to service delivery. By utilizing a library of components rather than a one-size-fits-all approach, Bright Ascension aims to lower the total cost of ownership for its clients while unlocking the potential of the space sector. Its products and services are designed to provide complete end-to-end solutions for space missions, supporting the next generation of space systems and applications.

Flowcopter

Grant in 2024
Flowcopter is currently enabling long-range, big payload logistics. Providing a strong platform for humanitarian and environmental applications that can operate in the most harsh environments.

Novosound

Venture Round in 2022
Novosound Ltd, founded in 2016 and based in Edinburgh, United Kingdom, specializes in the design and manufacture of innovative ultrasound sensors that address the limitations of traditional technology. As the first spin-out from the University of the West of Scotland, Novosound employs groundbreaking thin-film manufacturing techniques to create highly customizable and scalable ultrasound solutions. The company’s products are utilized across various sectors, including aerospace, oil and gas, industrial applications, as well as in medical, veterinary, and dental fields. By developing advanced imaging sensors, systems, and software, Novosound enhances high-resolution ultrasound imaging, thereby providing clients with improved capabilities in non-destructive testing and diagnostics.

RAB Microfluidics

Series B in 2022
RAB Microfluidics develops microfluidic and AI-enabled oil analysis solutions to diagnose early signs of failure in lubricated machinery. The company automated lubricating oil analysis using microfluidic tech to provide real-time, laboratory-quality data and actionable insights for asset condition management, enabling condition-based and predictive maintenance across industries such as wind energy, maritime, aerospace and defence, mining, and manufacturing. Its patented microfluidic and lab-on-a-chip approach delivers data-driven automation and digitisation to secure equipment reliability, increase availability, and reduce maintenance costs by identifying deterioration and incipient faults before failures occur. The platform supports remote monitoring and global deployment, delivering data-driven insights for maintenance decisions and energy efficiency.

RAB Microfluidics

Venture Round in 2021
RAB Microfluidics develops microfluidic and AI-enabled oil analysis solutions to diagnose early signs of failure in lubricated machinery. The company automated lubricating oil analysis using microfluidic tech to provide real-time, laboratory-quality data and actionable insights for asset condition management, enabling condition-based and predictive maintenance across industries such as wind energy, maritime, aerospace and defence, mining, and manufacturing. Its patented microfluidic and lab-on-a-chip approach delivers data-driven automation and digitisation to secure equipment reliability, increase availability, and reduce maintenance costs by identifying deterioration and incipient faults before failures occur. The platform supports remote monitoring and global deployment, delivering data-driven insights for maintenance decisions and energy efficiency.

Skylark Lasers

Venture Round in 2020
Skylark Lasers specializes in developing and manufacturing continuous wave single frequency DPSS lasers. Its proprietary BRaMMS Technology® platform offers superior spectral performance with high output powers, serving clients across research and industry worldwide.

Skylark Lasers

Venture Round in 2020
Skylark Lasers specializes in developing and manufacturing continuous wave single frequency DPSS lasers. Its proprietary BRaMMS Technology® platform offers superior spectral performance with high output powers, serving clients across research and industry worldwide.

Novosound

Venture Round in 2019
Novosound Ltd, founded in 2016 and based in Edinburgh, United Kingdom, specializes in the design and manufacture of innovative ultrasound sensors that address the limitations of traditional technology. As the first spin-out from the University of the West of Scotland, Novosound employs groundbreaking thin-film manufacturing techniques to create highly customizable and scalable ultrasound solutions. The company’s products are utilized across various sectors, including aerospace, oil and gas, industrial applications, as well as in medical, veterinary, and dental fields. By developing advanced imaging sensors, systems, and software, Novosound enhances high-resolution ultrasound imaging, thereby providing clients with improved capabilities in non-destructive testing and diagnostics.

Spire Global

Convertible Note in 2019
Spire Global, Inc., established in 2012 and headquartered in San Francisco with offices in Glasgow and Singapore, specializes in satellite data services. The company offers two primary data services: Spire Sense, which provides ship tracking data for applications such as illegal fishing monitoring, trade analysis, and maritime domain awareness; and Spire Stratus, which delivers global weather data. Additionally, Spire Global provides machine learning and analytics tools to enhance vessel detection and information gathering. Its clients include mining companies, government authorities, port operators, and those involved in arctic shipping routes.

Spire Global

Grant in 2019
Spire Global, Inc., established in 2012 and headquartered in San Francisco with offices in Glasgow and Singapore, specializes in satellite data services. The company offers two primary data services: Spire Sense, which provides ship tracking data for applications such as illegal fishing monitoring, trade analysis, and maritime domain awareness; and Spire Stratus, which delivers global weather data. Additionally, Spire Global provides machine learning and analytics tools to enhance vessel detection and information gathering. Its clients include mining companies, government authorities, port operators, and those involved in arctic shipping routes.

M Squared Lasers

Grant in 2019
M Squared Lasers designs and manufactures lasers and photonic instruments for industrial and scientific applications, drawing on more than twenty years of experience and a track record of award winning products to deliver reliable, easy to use solutions that help solve problems and accelerate projects. The company focuses on photonics and quantum technology to harness the power of light, offering advanced tools and optical instruments for sectors such as manufacturing, oil and gas research, space technology and medicine. Through cross sector partnerships, M Squared Lasers supports breakthroughs in dementia research, cancer diagnosis and whiskey maturation.

Novosound

Grant in 2019
Novosound Ltd, founded in 2016 and based in Edinburgh, United Kingdom, specializes in the design and manufacture of innovative ultrasound sensors that address the limitations of traditional technology. As the first spin-out from the University of the West of Scotland, Novosound employs groundbreaking thin-film manufacturing techniques to create highly customizable and scalable ultrasound solutions. The company’s products are utilized across various sectors, including aerospace, oil and gas, industrial applications, as well as in medical, veterinary, and dental fields. By developing advanced imaging sensors, systems, and software, Novosound enhances high-resolution ultrasound imaging, thereby providing clients with improved capabilities in non-destructive testing and diagnostics.

Skylark Lasers

Venture Round in 2019
Skylark Lasers specializes in developing and manufacturing continuous wave single frequency DPSS lasers. Its proprietary BRaMMS Technology® platform offers superior spectral performance with high output powers, serving clients across research and industry worldwide.

Skylark Lasers

Venture Round in 2018
Skylark Lasers specializes in developing and manufacturing continuous wave single frequency DPSS lasers. Its proprietary BRaMMS Technology® platform offers superior spectral performance with high output powers, serving clients across research and industry worldwide.

Novosound

Venture Round in 2018
Novosound Ltd, founded in 2016 and based in Edinburgh, United Kingdom, specializes in the design and manufacture of innovative ultrasound sensors that address the limitations of traditional technology. As the first spin-out from the University of the West of Scotland, Novosound employs groundbreaking thin-film manufacturing techniques to create highly customizable and scalable ultrasound solutions. The company’s products are utilized across various sectors, including aerospace, oil and gas, industrial applications, as well as in medical, veterinary, and dental fields. By developing advanced imaging sensors, systems, and software, Novosound enhances high-resolution ultrasound imaging, thereby providing clients with improved capabilities in non-destructive testing and diagnostics.

Skylark Lasers

Venture Round in 2017
Skylark Lasers specializes in developing and manufacturing continuous wave single frequency DPSS lasers. Its proprietary BRaMMS Technology® platform offers superior spectral performance with high output powers, serving clients across research and industry worldwide.

Skylark Lasers

Venture Round in 2016
Skylark Lasers specializes in developing and manufacturing continuous wave single frequency DPSS lasers. Its proprietary BRaMMS Technology® platform offers superior spectral performance with high output powers, serving clients across research and industry worldwide.

Ceres Holographics

Seed Round in 2016
Ceres Holographics specializes in digital holographic mastering and replication technology, focusing on producing precision-engineered holographic optical elements (HOEs) using novel materials. This enables mass-market display applications, transforming transparent surfaces into highly transparent screens for displaying projected information. The company's primary application is in the automotive sector, where its ultra-compact heads-up-display (HUD) system enhances driver safety and comfort while offering new user experiences.

Spire Global

Grant in 2015
Spire Global, Inc., established in 2012 and headquartered in San Francisco with offices in Glasgow and Singapore, specializes in satellite data services. The company offers two primary data services: Spire Sense, which provides ship tracking data for applications such as illegal fishing monitoring, trade analysis, and maritime domain awareness; and Spire Stratus, which delivers global weather data. Additionally, Spire Global provides machine learning and analytics tools to enhance vessel detection and information gathering. Its clients include mining companies, government authorities, port operators, and those involved in arctic shipping routes.

Clyde Space

Venture Round in 2011
Clyde Space Ltd. is a Glasgow-based company specializing in the design and manufacture of small and micro spacecraft systems, particularly for the growing small satellite market. Founded in 2005, it provides a range of products including power conditioning and distribution systems, CubeSat platforms, spacecraft batteries, solar panels, and various subsystems essential for satellite operations. The company also offers advanced components such as transceivers, antennas, and on-board computers, in addition to engineering education and training services. Clyde Space serves a diverse clientele that includes international universities, commercial enterprises, and government organizations, primarily in the United Kingdom and European Union. As of early 2018, it operates as a subsidiary of ÅAC Microtec AB.
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