Scotland's national economic development agency operating as a non-departmental public body to foster business innovation and scale.
The funding round was led by Archangels to support market entry for the company screening technology.
"Hearing loss usually advances slowly and unnoticeably and has severe consequences if left unmanaged. Our mission is to make reliable hearing testing accessible outside of specialist clinics to drive the early diagnosis of hearing loss and to ensure positive patient outcomes."
The Series A round was led by Par Equity to help fund a new Edinburgh centre of excellence.
Par Equity leads the funding round to support team expansion and technology launch.
The funding was led by The Conduit Impact Fund alongside participation from SIS Ventures, Equity Gap, Old College Capital and Scottish Enterprise.
"Our process is championing the circular economy and the investment we have secured will be transformational in helping MiAlgae scale quickly both locally and abroad."
The funding comprises private sector backing alongside a grant from Scottish Enterprise to advance maritime decarbonisation.
"Scotland’s decision to support this project shows that wind technology has the might of a maritime nation behind it. Shipping has a long history of harnessing the power of wind, but digital technologies are allowing us to work towards making zero emission vessels a reality. Smart Green Shipping’s FastRig wing sail technology offers a financially and technically robust solution to help support shipping’s green transition."
