The funding round was led by IW Capital with support from existing investors IP Group and Mercia Ventures.
"Electrosurgical tools have transformed modern surgery but also generate surgical smoke that affects the quality and efficiency of surgery and poses risks to operating theatre staff. For years, available solutions have required trade-offs between effectiveness and workflow disruption, slowing adoption across the industry. As awareness grows that smoke management is integral to surgical safety and efficiency, solutions that tackle smoke at its source are becoming increasingly important for supporting the next generation of minimally invasive and robotic procedures."
The funding round included participation from XTX Ventures and Macmillan Cancer Support to accelerate deployment and expand diagnostics.
"Cancer imaging volumes are rising rapidly but reporting capacity is not keeping pace. Our goal is to give clinicians faster, more confident decisions while reducing unnecessary interventions for patients. With our deep focus on prostate cancer and strong clinical validation across NHS pathways, we’re showing how AI can deliver earlier and more accurate diagnoses. In the NHS, few Trusts can confirm or rule out cancer within 28 days, and some patients can wait two months or longer. Lucida Medical is ideally placed to reduce this burden, and this funding will allow us to do that faster."
The financing was led by the T&J Meyer Family Foundation and will fund pivotal FDA registration trials for the company's HIVEC treatment.
"Combat Medicalis leading the development and clinical use of device assisted therapies with potential to disrupt current treatment standards. With systems in wide clinical use and already impacting patient outcomes, we are excited to support the company as HIVEC progresses through clinical trials."
The funding round was led by Archangels to support product development and market entry.
"Oncology is an exciting and vibrant sector. The scientists and technologists have been doing incredible things based upon the samples that they’re given, but there hasn’t been any particular movement in how the samples are prepared for years. Our msX platform has the potential to revolutionise how samples are collected, allowing for larger samples, faster extraction, simpler processing, and fully automatable capabilities."
