backed for expansion

Businesses in Wales

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Fast-expanding self storage venture Pink Storage is targeting reaching 70 sites over the next three years.

The business, established by Cardiff-based entrepreneur Scott Evans, currently has 16 storage venues in Wales and six in England. By 2033 it is targeting 300 sites providing 60,000 units.

As part of its expansion into the English marketplace it has invested £1.5m with the acquisition of StoreWise, a 102-unit facility in Nottingham.

The deal saw Pink Storage acquire StoreWise for £1.1m, with an additional £370,000 being invested to upgrade the 1.3-acre site and add 150 new storage units.

Mr Evans said: "Acquiring StoreWise is a proud milestone for us. What began as a small Welsh brand is now setting the standard for innovation in self storage."

Draig Therapeutics

A Cardiff University life sciences spinout firm pioneering new therapies for neuropsychiatric disorders has been boosted with a huge £100m-plus equity investment round to support clinical trials ahead of commercialisation.