Xeros Technology Group, the sustainable tech company behind innovations that reduce the environmental impact of clothing, has raised £3 million through a share placing and initial subscription at 1.75p per share. 

The funding round, comprising over 171m new ordinary shares, will support the listed company’s next stage of development as it continues to commercialise its patented cleaning and fabric care technologies.

The firm is also offering shareholders the chance to participate in a £2m follow-on subscription and a £1m retail offer, both at the same issue price.