Par Equity led the follow-on investment round, backed by Thairm Bio and Scottish Enterprise, to support nationwide scaling.
"In the UK tech sector, the investment climate has been both unpredictable and incredibly challenging for the past two years. Despite this, Phlo’s investors have provided the leadership team with a huge vote of confidence in our business model and product ecosystem. This gives additional significance to the close of this fresh investment round, which will unlock huge business and growth opportunities across the entire Phlo network. I’d like to thank Par Equity, Thairm Bio and Scottish Enterprise for their support and belief in Phlo’s vision for the future of healthcare."
Legal & General Capital and Barclays Sustainable Impact Capital co-led the Series A round to support manufacturing expansion and international growth.
"Today’s funding announcement clears our path to sustainable growth for years to come. It is a vote of confidence from the market in our vision, our technical capabilities and our mission to rid EV motors of harmful and problematic materials. Everyone at AEM and our new partners are excited for the role we are now able to play in making the electric vehicle sector truly sustainable."
The investment was led by Par Equity with backing from Blumberg Capital to fund international expansion and product development.
"I haven’t seen anyone else offering this level of product in this particular section of the market for a long time. Partful saves the product team and the engineers a lot of work."
Northstar Ventures and Par Equity co-led the investment round to support international expansion and US regulatory clearance.
"I’d like to thank Manus’ existing investors for supporting the Company’s commercialisation programme of our unique NeuroMotor PenTM , building on previous support we received in 2021. This year is set to be an exciting one, with partnerships already secured, and we truly believe our non-invasive and CE-marked product can have a huge impact on patients and tackle the unmet need for a quick, inexpensive device that can detect neurological conditions, particularly given the ageing global population."
