Well Machined specialises in making precision components for the offshore oil and gas sector.
The Glasgow company has received a total in excess of £100,000 from UK Steel Enterprise (UKSE), the West of Scotland Loan Fund and Regional Selective Assistance as well as some hire purchase funding.
Before moving into Glasgow the business was based at UKSE's managed workspace site in North Lanarkshire.
Well Machined was also based at UKSE's managed workspace site in North Lanarkshire, before moving to the company's new premises in Glasgow.
Managing director Paul Kennedy wants to take on another five members of staff within the next six months with further hires in the pipeline if demand stays strong.
He said: "The funding package has allowed us to take on more staff and maximise the company's services which will allow Well Machined to take on larger contracts and opportunities.
"Over the next couple of years we are aiming to double our staff numbers and we will be growing our machine shop to create and supply more parts for an exclusive, international clientele."
Scott Webb, regional executive at UK Steel Enterprise said: "It is heartening to see a company growing from UKSE's own workspace in North Lanarkshire to having their own facilities and creating more jobs in Scotland through our financial support."