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."
The company has raised funds from backers including Scottish Enterprise and Capital for Colleagues to support the commercial release of its HELIX suite.
"I am delighted and honoured to be taking on the chairmanship for Bright Ascension at this very exciting point in time and looking forward to helping steer the company towards a very successful future"
Equity Gap led the seed round alongside Scottish Enterprise and Innovate UK to fund artificial intelligence development.
"We would like to acknowledge the support of Investing Women Angels, which has not only been a key early investor, but has also supported and mentored us through its AccelerateHER programme"
TRICAPITAL and Scottish Enterprise backed the funding round to help launch the company's inaugural fine art resale marketplace.
"This is a project we have worked on for several years but was put on ice because of the Covid pandemic and we are now delighted to be supported financially and strategically by TRICAPITAL and Scottish Enterprise."
The Edinburgh biotech uses the capital to scale its 3D bioprinted tumour models across the UK, Europe, and the US.
"Our vision is to be at the forefront of cancer drug testing and provide personalised medicine testing to every individual suffering from cancer to improve their treatment and chance of survival. Working with global partners, leading pharma companies, surgeons, pathologists, and clinicians, Carcinotech aims to accelerate oncology drug development significantly."
