Tech firm Optalysys opening Bristol office and creating jobs

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A tech firm is set to open a new Bristol office after raising £21m to fund its expansion.

Optical computing specialist Optalysys, which has its headquarters in Leeds, is developing hardware designed to accelerate computing processes on encrypted and secure data.

Founded in 2013, the business is preparing to launch its first cloud-based platform, and has recently closed a Series A funding round to drive growth.

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Optalysys said it would create up to 30 jobs across its Leeds and Bristol sites. The company said its new base in Bristol, whose location has not been announced, would allow it to leverage the city’s established ecosystem of cutting-edge start-ups and collaborative tech community.

Optalysys’s Bristol office will be headed up by chief architect Gajinder Panesar, and will be focused on the design of the electronic stages of its new processing chip and embedded software.

Mr Panesar said: “This is an exciting time for us. Having secured investor support, we’re growing at pace and see huge potential in what our technology has to offer. Bristol and the wider region has an array of talent and resources, including renowned research institutions and a supportive community for entrepreneurial businesses – it will be a great home for us as a future-thinking city.”

Investment firms Lingotto, Imec.Xpand and Northern Gritstone led Optalysys’ funding round.

Original artice – https://business-live.co.uk/all-about/yorkshire-humber

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