Scotland's national economic development agency operating as a non-departmental public body to foster business innovation and scale.
The Edinburgh based agritech firm has raised over half a million pounds to accelerate manufacturing of its portable semen testing device.
"We are very proud to secure this additional round of funding which will help to rapidly increase our production meaning we can help even more farmers across Scotland, the UK and beyond."
The funding round was led by the Scottish National Investment Bank alongside participation from Par Equity, Orchard Venture Capital, and Scottish Enterprise.
"This is an enormous step forward as it will provide the funds necessary to execute significantly larger projects, which will in turn, grow the strength and diversity of our team."
Yield Lab Europe led the pre-Series A round, which will fund international expansion and team growth.
"We’ve spent the past 18 months developing our platform and validating peptide candidates with expert third parties and commercial partners. We’re really excited by the results and feel that we’re ready to take the next step towards commercialising our technology. With the issue of food security, and effective crop protection becoming an increasingly pressing issue for the agriculture industry and governments worldwide, there is an urgent need for sustainable environmentally-friendly alternatives to current synthetic pesticides. We’re confident that our technology provides the solution and has the potential to make a huge impact."
The investment round was backed jointly by MOL Drybulk and Scottish Enterprise.
"MOL is committed to decarbonisation within our industry and Scotland is at the forefront of many environmentally friendly solutions, whilst our investment in Smart Green Shipping furthers our commitment to the UK."
The funding round was backed by a group of existing investors alongside a grant from the European Innovation Council.
"This is a very significant funding milestone in our mission to detect cancer early and improve survival and quality of life for patients. Having demonstrated our multi-cancer capability, we can now focus on building the pipeline of organ-specific tests, beginning with a multi-center study to gain regulatory approval for the brain cancer test. We will also expand our data on colorectal cancer, one of the leading causes of death worldwide, and continue our work on collaborative projects."
