NCTech secured £500,000 ($708,875) funding in order to build stock and fulfill growing demand for its new range.
Barclays Innovation Finance (BIF) provided the firm with the loan.
Cameron Ure, CEO of NCTech said: “We are in a fortunate position to be able to announce this credit facility with Barclays Innovation Finance.
“It is encouraging to work with an organization that understands our needs as a fast growing technology business. I’m confident this is the first step in an on-going and growing relationship.”
Edinburgh, Scotland-based 360-degree camera producer NCTech was founded in 2010. Last year it launched iris360, the only automatic spherical camera approved by Google for use in its “street view trusted” program. The privately held company has been backed by business angel syndicate Archangels and is listed on the Scottish Enterprise high growth stream.
BIF is an initiative providing innovative companies with additional financing at more favorable rates. It is a result of an agreement between Barclays and the European Investment Fund, allowing it to provide finance lending to small and medium-sized enterprises and small mid-caps in the UK over the next two years.