Exciting Instruments, a healthtech spinout from Sheffield University, has secured a £4m investment to advance its breakthrough single-molecule detection platform.
- The funding round was led by Northern Gritstone and other significant investors, indicating strong interest in the technology.
- Empirical Ventures, NPIF II – Praetura Equity Finance, and notable entrepreneurs were among the key contributors to the investment.
- Exciting Instruments’ technology is already being utilized in drug development and diagnostics, demonstrating its potential impact.
- The fresh capital will be used to expand partnerships, grow the team, and further develop their product offerings.
Northern Gritstone, a leading investment company focused on science and technology in Northern England, has announced a substantial £4m seed round investment into Exciting Instruments, a promising spinout from Sheffield University. This investment, spearheaded by the chairmanship of Lord Jim O’Neill, underscores a burgeoning interest in advancing healthtech innovation.
The funding round was supported by co-investors such as Empirical Ventures, who were integral in the scientific due diligence process. Other contributors included NPIF II – Praetura Equity Finance, part of the Northern Powerhouse Investment Fund II, along with accomplished entrepreneurs Stan Boland and Jonathan Millner.
Exciting Instruments is pioneering a revolutionary platform for single-molecule detection, enabling more accessible and efficient analysis of individual molecules. This innovative technology is set to expand its utility across industries like pharmaceuticals and healthcare, offering unprecedented capabilities in visualizing molecule interactions and automating complex workflows.
Early adopters of the platform are already experiencing breakthroughs in drug discovery and clinical diagnostics. This innovation bridges gaps where previous technologies fell short, potentially transforming global health outcomes through improved research efficiency.
With the new capital, Exciting Instruments aims to forge stronger commercial partnerships, enhance its team, and continue evolving its products. The company’s ambition is to democratize the power of single-molecule detection, making such advanced insights a staple in labs worldwide.
CEO Duncan Johnson of Northern Gritstone expressed enthusiasm about supporting the distinguished team from Sheffield University, recognizing their technology’s potential to spur job creation and advance health-related research. He noted the overwhelming interest in the funding round as a testament to the quality of opportunities in the Northern Triangle.
Co-Founders Tim Craggs and Rob Bell emphasized their vision of transforming health insights globally. They believe that their platform marks the dawn of a new era in molecular analysis, pushing the boundaries of what is achievable in human health research.
Investor Stan Boland praised the innovative strides made by Exciting Instruments, lauding the team’s energy and foresight. He believes that their technology not only addresses a significant market need but is poised to accelerate advancements in disease detection and treatment development.
The successful £4m fundraising highlights the robust potential of Exciting Instruments’ technology to revolutionize health research and commercial applications.
