The investment round was backed by Future Positive, Holly and Sam Branson, and Pentland Group among others.
"When I met Kyle and Tom, the founders of Oxwash, I knew immediately they were the type of purposeful leaders I love to work with; their passion, drive and enthusiasm for sustainable laundry was infectious. Through the Collective Impact programme I get to meet the most inspiring founders and am constantly blown away by their innovative, creative and commercial approach to sustainable business. Oxwash will turn the traditional laundry sector on its head, proving yet again that purposeful business is great business."
The oversubscribed round was led by Cambridge Enterprise and will fund the company's transition into drug development.
"We are pleased to welcome on board our new investors and appreciate their confidence in our business. Our aim is to replicate the specificity of biologics in the powerful and scalable form of a small molecule, to treat devastating diseases where there are currently no treatment options. We have proven the strength of our platform in tapping unexplored parts of the chemical universe to find novel and specific hits for currently undruggable targets, and are excited to now be able to invest in our own pipeline of drug discovery programmes, as well as to develop further strategic partnerships."
The funding round was led by TrueSight Ventures alongside notable angel backers to expand team size and regional reach.
"We’ve developed a service in the last 2 months that is available to provide coronavirus disinfection. Our original goal for the business remains to help the planet – originally focussing on the eco-friendly nature of our tech compared to traditional laundry options. However, in recent weeks it’s become apparent that our help is needed in keeping people safe. In light of the current coronavirus situation, we are working closely with NHS and vulnerable groups to provide support when needed as well as doubling down on our software development, including our app, and rolling out the service to London later this year while continuing to focus on our original locations – Oxford and Cambridge."
