The Lincoln technology start-up raised the capital through Minerva Business Angels and Innovate UK.
"After seeing Tended pitch a couple of times at Minerva events, one of Blackfinch Ventures directors expressed an interest in investing. Initially, I thought it was just him acting as an individual Angel, so when I heard the investment was to be through Blackfinch and they were interested in investing £810k, it came as quite a shock! It also came at just the right time as we had a number of very exciting opportunities opening up, which required a much larger cash injection than previously anticipated."
The grant will fund an online platform providing researchers with access to AI models and algorithms.
"This partnership and funding clearly indicate the importance and value of artificial intelligence as a new approach to support UK SMEs and reinvigorate drug discovery. Our aim is to help deliver a platform which is of high value to UK SMEs to advance their own drug discovery projects faster and more efficiently by accessing otherwise inaccessible, complex technical expertise"
The funding will support a consortium project developing open source software for the UK healthcare sector.
"We’re thrilled to have been given the opportunity by Innovate UK to prove that professional open source is the only viable solution to the NHS’s complex software needs. Innovate UK understood that we have ambitious aims to transform the NHS’s approach to digital technology, helping to create software that is the perfect clinical fit for today and adaptable for tomorrow saving lives and money simultaneously."
The funding round was backed by the Development Bank of Wales, angel investors, and Innovate UK.
"The funding package from the Development Bank and other co-investors will help Hexigone achieve full-scale commercialisation and distribution of the product. This makes it a perfect fit for the Wales Technology Seed Fund which supports innovative University spin-out companies and helps them bring their products to market, creating high value jobs and wealth in Wales."
The Caerphilly-based health technology firm has raised a funding package from Innovate UK and the Development Bank of Wales.
"Throughout my international practice in speech therapy, I have wanted to develop an innovative treatment that will help people communicate again after a stroke, brain injury, Parkinson’s or Dementia."
