aXenic develops and supplies complex electronic components that enable high-speed optical communication in space. Its technology is used in Low Earth Orbit (LEO) satellite constellations and aerospace applications, with current customers including major European satellite and aerospace manufacturers, as well as international space agencies and emerging players in the global satellite communications market.
Based at the North East Technology Park (NETPark) in Durham since its spin-out from a NASDAQ-listed components manufacturer in 2015, aXenic has seen such a strong global demand for its technology that its current facility has now reached full capacity.
To support its next stage of growth, the business has secured a £500,000 investment from Maven. This includes £250,000 from NPIF II - Maven Equity Finance as part of the British Business Bank’s Northern Powerhouse Investment Fund II (NPIF II) and £250,000 from the Finance Durham Fund established by Durham County Council and overseen by Business Durham.
The investment will enable aXenic to scale its infrastructure and operations, expand its team through a recruitment drive and invest in new equipment and stock to meet growing demand from new and existing customers as it expands its reach.
