The University of Plymouth spinout secured backing from Frontier IP to speed the development of its rapid pathogen detection systems.
"The COVID-19 outbreak has highlighted possible risks to human health from the environment and governments now want to test for bacterial contamination in water and other materials. However, our technology also allows fast detection of bacterial pathogens in fresh food produce, so our technology could significantly decrease the holding time of fresh food before it is released to supermarkets. This will increase the supply of fresh produce to supermarkets, which is especially critical at times of crisis, and support customer faith in the safety of the products."
The interim funding was provided by Wealth Club and the Development Bank of Wales to scale up staff.
"Bond is a great example of the many Welsh technology businesses that are supporting the fight against Covid-19. Our investment is testament to our belief in their ability to scale up and make a real difference at this difficult time and to their longer-term growth in the global diagnostics market. We wish them every success."
The seed round was led by Parkwalk Advisors and includes backing from Amadeus Capital Partners, Crista Galli, RCA, and Oxbridge Angels to fund the market launch of the CUE1 device.
"We are excited to continue our work on the device and we look forward to the outcome of our proposed clinical trials."