Mercia Asset Management is an AIM-quoted group with c.£1.4bn of assets under management, operating through private equity, debt and venture capital portfolios.
The oversubscribed funding round includes participation from Mercia Asset Management, Calculus Capital, Downing Ventures, and BGF.
"We are delighted that our investors have emphatically and unanimously backed our vision to become leaders in next generation affinity reagents following the achievement of the key milestones we set together 18 months ago. We will continue to bring highly talented and experienced people to the business at all levels to accelerate our growth. This will be delivered by completing the industrialisation of our technology in targeted applications and bringing exciting new products to market to address unmet needs with high performance customer-centric solutions, which in turn will drive market adoption."
The investment from Mercia will fund cloud software development and international expansion.
"The impact of our Cell Site Analysis Suite (CSAS) was demonstrated most recently through the results CSAS delivered for the Metropolitan Police Service to disrupt county lines."
Koch Disruptive Technologies led the Series B round to support the commercialisation of the Veros diagnostics platform.
"This Series B round is crucial in providing us with the resources to grow our Veros platform to revolutionize decentralized point-of-care testing; and it is particularly important as we commercialize our Veros COVID-19 test, which delivers laboratory quality results directly to users within minutes, without an instrument. This will be an essential tool in the effective management of outbreaks of this and other diseases,"
