Welcome to our monthly feature focussing on the Scottish investment sector, brought to you in partnership with Beauhurst, the platform that shares rich information on UK based high-growth companies.
Eight seed/venture-stage investments took place in the month of May with eight different investors taking part.
The eight deals raised a combined total of £5m with all the companies in the seed/venture-stage, with 50/50 split between seed and venture-stage.
Here is a break down of all eight deals –
1. Pharmacells
Pharmacells has developed products to store stem cells for individual consumers and identify and remove dead cells from cultures.
Deal amount: £1.25m
Date: 24/05/2017
Investors: Unknown as yet (this is an unannounced deal, uncovered by Beauhurst research). Previous investors include Equity Finance, managed by UK Steel Enterprise, who invested £100k in 2013.
Notes: This deal put the company’s valuation at £18.4m pre-money, an increase from £15.8m last January. The company is also trading as Precious Cells.
Read more – [insert page=’science-firm-plans-1-2m-expansion-and-job-creation’ display=’link’]
2. Metix
Metix has developed a hand-held diagnostic device that is resistant to outdoor conditions and monitors vital signs, including blood pressure, respiratory rate and temperature.
Deal amount: £1.2m
Date: 24/05/2017
Investors: Deepbridge Life Sciences, Scottish Investment Bank, SMART Scotland: Research & Development Projects. The latter two funds are both managed by Scottish Enterprise.
Notes: This raise puts the company at £2.36m, although Beauhurst has only been able to verify £744k of the investment: it is possible that more funding is set to follow later, or that some of it was in the form of debt finance.
Read more – [insert page=’patient-monitoring-technology-secures-1-2m-funding’ display=’link’]
3. Edinburgh Molecular Imaging
Edinburgh Molecular Imaging (EMI) is developing optical molecular imaging technology to help diagnose and monitor a range of respiratory diseases.
Deal amount: £1m
Date: 26/05/2017
Investors: Unknown as yet (this is an unannounced deal, as above).
Notes: This raise puts the company at £5.5m pre-money, an increase of £1.25m from April 2016. Previous investors include Epidarex Capital and the Scottish Venture Fund. The company has also secured a £150k Health & Life Science grant from Innovate UK.
Read more – [insert page=’em-imaging-obtains-global-licence-for-optical-agent-that-detects-cancer-early’ display=’link’]
4. NCTech
NCTech has developed and manufactures a 360 degree panoramic camera.
Deal amount: £750k
Date: 18/05/2017
Investors: Unknown as yet (this is an unannounced deal, as above).
Notes: The investment puts the company at £8.75m, an increase of £0.75m from its raise six months ago. Previous investors include the Scottish Investment Bank, Innovation Finance, and Archangels; the company has also secured two Innovate UK grants.
Read more – [insert page=’google-pilot-new-360-degree-camera-edinburgh-firm’ display=’link’]
5. Care Sourcer
Care Sourcer operates an online platform that allows users to browse for and connect with appropriate carers and care homes.
Deal amount: £500k
Date: 09/05/2017
Investors: Accelerated Digital Ventures, BGF Ventures
Notes: This was only Care Sourcer’s second raise (taking its total raised to £525k). It has also secured a £25k grant from Scottish EDGE (Dec 2016).
Read more – [insert page=’scottish-health-tech-startup-wins-nhs-contract’ display=’link’]
6. Organised Health
Organised Health develops software that allows patients to manage their own medication, and technology that dispenses it without the need for a present pharmacist.
Deal amount: £150k
Date: 10/05/2017
Investors: Business angel(s)
Notes: A raise (£30k) seven months ago valued the young company at £600k. Prior to that it acquired Universal Pharmacy, a small company that provided pharmaceuticals to care homes and individuals. Previous investors include Shawbrook Business Finance.
Read more – [insert page=’organised-health-secures-150k-investment-prescription-delivery-platform’ display=’link’]
7. Kajeka
Kajeka, a spin-out of the University of Edinburgh, has developed a software called Miru that is capable of efficiently analysing and plotting large amounts of data from a variety of sources. The company claims that its software can be used by both experienced data analysts and non-specialists.
Deal amount: £87.4k
Date: 17/05/2017
Investors: Unannounced deal
Notes: Kajeka’s second fundraising, this takes it to £180k raised in total. This valued it at £379k, up from £273k two years ago.
8. Silver Cloud
Silver Cloud provides SMEs and large corporations with a variety of office software, hardware and telecommunications services, including landlines, broadband, photocopiers and printers.
Deal amount: £50k
Date: 26/05/2017
Investors: Unannounced deal
Notes: Silver Cloud’s first ever raise, this deal values it at £952k.
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