The funding round was led by Maven Capital Partners and will support the expansion of the company digital workplace platform.
"Oak is an amazing product with tremendous potential. It enables organisations to engage their employees including deskless workers and provides a range of internal communications tools that integrate seamlessly with office applications. We are thankful for the great funding partners we have in Maven, NorthStar Ventures and Finance Durham and look forward to working with them as Oak scales"
Caple has provided an unsecured eight-year loan to support the healthtech company's domestic and international growth.
"Many successful businesses are growing by developing intangible assets such as intellectual property or services. However, while banks can lend against the tangible assets in a business, they can only do so up to the value of those physical assets available as collateral. After that, they cannot help."
The funding round was led by Praetura Ventures with participation from BMJ and angel investors.
"Those best placed to solve the challenges facing our healthcare system are the people who have worked on the frontline. Jing and I both struggled to maintain a healthy work-life balance as junior doctors, and we watched countless colleagues step away from full-time practice and into the world of locum agencies as a result of the daily pressures faced by medics. We felt there must be a better way of doing things; one where the NHS could staff wards safely and affordably, and where healthcare workers could find the right working balance for them, without the need for an expensive middleman. That’s why we created Patchwork."
The Phase II grant from SBRI Healthcare will fund pre-clinical safety and efficacy studies for regenerative cartilage treatments.
"We select projects strategically based on both commercial and scientific considerations and are delighted with the progress of this collaboration with Dr. Wael Kafienah’s laboratory at the University of Bristol. The continued support for our lead musculoskeletal asset from SBRI Healthcare has not only allowed us to reach this phase but will enable us to carry the chondrocyte conversions through to the next stage."
