Cirdan raises £2.3m from Kernel Capital and Clarendon Fund Managers to expand operations and create jobs.
The investment was led by Kernel Capital to support operational expansion ahead of new contract wins.
Cirdan is a medical technology company based in Lisburn that provides software and imaging solutions to accelerate disease diagnosis. Its products are deployed in clinical laboratories across multiple continents.
Cirdan has secured £2.3m in new funding led by Kernel Capital through the Bank of Ireland Kernel Capital Growth Fund (NI), with participation from Clarendon Fund Managers and private investors. The capital will support business operations and job creation as the firm prepares for upcoming contract wins. Cirdan provides digital pathology and diagnostic systems utilised in laboratories across multiple continents, supporting faster patient diagnoses.
The investment arrives as the company experiences strong revenue growth, with projections anticipating an increase of over 80 percent in 2024. The fresh capital will enable the business to scale its operational capacity and improve onboarding processes for new clients.
From the founder
"I would like to take this opportunity to thank our investors for their continued support. This in addition to securing several new contracts will be used to accelerate our operational expansion and deliver on our strong order book for 2023 and beyond."
Stephen Dunniece
Director at Cirdan
Investor perspective
"Cirdan is a company on a positive growth trajectory with an excellent product, strong team and 'blue-chip' clients across 6 continents. The Company is ideally placed to capitalise on the accelerated shift from traditional patient care to digital pathology which has the potential to revolutionize timely disease diagnosis leading to better and faster patient care."
Denise Sidhu
Partner, Kernel Capital
Use of funds
- 01Scale operations
- 02Grow the team
