Unilever spin-out Iota NanoSolutions has raised money from the Anglo-Dutch multinational and the Qatar Islamic Bank's UK unit.

UK-based nanotechnology company Iota NanoSolutions has raised an undisclosed amount from Anglo-Dutch listed consumer goods company Unilever and Sharia-compliant financial services firm Qatar Islamic Bank (QIB).

QIB (UK) joined Iota as a new investor after the nanotechnology company was formerly part of Unilever until it became a spin-out in 2005. Iota remains majority-owned by Unilever Ventures, according to Iota’s website.

Iota said the additional funds would allow it to commercialise its ContraSol technology, which transforms poorly soluble materials into powders…