The Edinburgh medical device firm secured backing from Archangels and the Scottish Investment Bank to prepare for its American market entry.
"We are delighted by the continuing commitment of our existing investors in this financing. This new investment allows us to continue to execute our strategy as we anticipate PMA approval for our CALCIVIS Imaging System later this year from FDA. We remain very confident in the potential of this new approach to preventive dentistry in the US, when it is launched in the world’s largest dentistry market in 2020. This optimism has been reinforced by our experience in the UK, where the CALCIVIS Imaging System has been shown to provide reliable, visualisation of demineralisation enabling bespoke, evidence-based preventive treatment for dental caries patients."
The open banking platform has secured £8.1m in Series A funding led by Moneta Capital to expand its global operations.
"We are delighted to welcome our new investors who join our amazingly supportive investor list. Railsbank is at a key stage of its development and we are moving into a period of sustained expansion. Our industry leading products and highly skilled management team are being leveraged across a growing customer base, and we are continually being presented with opportunities on a global scale."
The Series A round included a crowdfunding tranche on Seedrs that finished 132% oversubscribed.
"I’m delighted with the interest shown in our Series A round, the momentum with which we have achieved our target amount and the investor interest in our crowdfunding campaign. It is especially encouraging that a number of our own customers have continued to show faith in us as a company by both participating in the crowdfunding and in the private portion of the round. We now aim to accelerate our growth to new markets, with new products and into new customer segments in the next 24 months."
The investment was led by Skybound Capital and will fund new hires, technology development, and corporate acquisitions.
"We’re delighted to close on our largest funding round to date and this really cements our current position as one of the leading Proptech companies in the UK."
Beringea leads Series A investment into the Manchester psychometric assessment provider.
"Arctic Shores has a clear mission to enable companies to be more objective and broader in their selection of applicants and foster an assessment process that provides a fairer evaluation of people from different backgrounds and socio-economic groups."
