The seed follow-on round from existing backers Mercia and NorthStar Ventures will fund international expansion in the US and accelerate product launches.
"Over the last two years Newcells has made great progress in bringing innovative products and services to market that have delivered value to our global pharmaceutical customers. Whether it be in understanding how new drugs interact with the kidney or the retina, our scientists have produced data that has helped lower the risk of early drug discovery projects. The input and support of Mercia and NorthStar has been invaluable in driving forward the business. Our vision is to bring the best in vitro biology to market, improving the productivity of drug discovery and development"
The medtech start-up has raised £2.2m from ACF Investors and Mercia to fund its American market launch and product pipeline.
"I am really pleased to work with ACF for a second time to bring their support to Axis Spine. It is a great example of the UK ecosystem supporting fantastic entrepreneur-led medtech companies and I am delighted to assist Jon and the Axis team take their superior products to market and to build out the underlying platform."
Saudi Aramco Energy Ventures led the $5m round to support international expansion and technological development.
"We welcome this exciting collaboration with Saudi Aramco Energy Ventures as we step up the global response to CUI through the adoption of digital solutions. This investment demonstrates a surge of confidence from the sector in the use of real-time data systems that will accurately predict leakages and the onset of structural failure. With the worldwide cost of corrosion at $2.5 trillion, a co-ordinated effort cannot come soon enough. CorrosionRADAR is showing that a sustainable path to increased safety and dramatically reduced costs is achievable right now, using new technology and wireless connectivity."
The funding package from Mercia will support team expansion and the wider rollout of the student engagement platform.
"Understanding student engagement and ensuring they have the right support has always been difficult for universities, but at a time when learning is moving online and students are spending more time alone, it is even more important. Solutionpath provides real-time feedback on how new practices are being received and enables them to spot vulnerable students or those at risk of dropping out."
