The fresh capital from Maven Cognition will support the international expansion of PervasID and its TrackMaster system.
"The growth we’ve experienced in recent years is a testament to our market-leading innovation. Our 2024 investment round, which secured over £3 million, is already taking the business to the next level as we continue with the global rollout of TrackMaster. We’ll be using this latest investment to continue our growth plans and to maximise the opportunities in the UK and US where we are seeing fast-paced adoption of TrackMaster."
Equity Gap led the seed financing for the Edinburgh based manufacturer of custom fit respirators, with backing from Scottish Enterprise, Old College Capital, and Apollo Informal Investment.
"We realised that by combining modern 3D imaging with 3D-printed soft materials, we could create bespoke, perfectly fitted masks that conform to the unique contours of each face. In our first comparative trial, our masks proved more comfortable than standard disposable alternatives. Since then, we’ve refined our design dramatically yet we’ve remained true to our original mission: to create the most comfortable, personalised respiratory masks possible, suited for every face. We believe the days of painful, pressure-inducing masks are finally over."
The financing round was backed by existing major investors and new participant Trinity Capital.
"CMR is a competitive, well-established company with a transformative product providing clear clinical value. We are now at a pivotal stage, poised to capitalise on significant opportunities for market expansion, including in the U.S., while continuing to penetrate deeper into existing markets. I would like to give thanks to our CFO, Andre Nel, and the team for securing this financing to provide the foundation for realising our strategic vision of making robotic assisted surgery accessible to all patients who need it whilst accelerating future product development."
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