UK s Linear Diagnostics secures £800k for point of care diagnostics platform
UK s Linear Diagnostics secures £800k for point of care diagnostics platform 24 February 2021 | News The funds received by the University of Birmingham spinout will enable Linear Diagnostics to develop a prototype single-use cartridge and reader for our duplex test for chlamydia and gonorrhoea
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Birmingham-based Linear Diagnostics Ltd has secured £800,000 from the Midlands Engine Investment Fund (MEIF) and other investors in the company’s second round of funding, which will enable the company to commence the development of the hardware platform for its tests
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The finance will facilitate the ongoing development of the company’s high-speed platform technology for point-of-care diagnostics. The funding package includes backing from MEIF Equity Finance, managed by venture capital firm Midven, the University of Birmingham and the UKI2S Fund. The UK Futu
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Zumo, the Leith-based digital currency and payments platform, raised £1.4 million while Blackford, an insurance brokerage with offices in Aberdeen, Edinburgh, Glasgow and London, secured £800,000.
Zumo has appointed its first chief technology officer to lead its plans for product launches later this year. Tim Sabanov, who was previously lead technical architect with Zumo, assumes his role immediately.
The fresh capital will allow both businesses to fund their growth through the pandemic and provide “solid financial footings” for the future.
The investment follows Murray Capital’s participation in another Future Fund cash injection, in a company called CloudNC at the end of 2020. Based in Chelmsford, CloudNC is a UK precision engineering firm which has introduced a “ground-breaking” AI-based (artificial intelligence) approach to manufacturing.
Moo battles Covid sales slump Jo Francis Thursday, January 14, 2021
Sales at luxe online print specialist Moo collapsed by nearly 80% as the pandemic struck last spring, and the previously fast-growing business was forced to take rapid restructuring actions in order to survive.
Moo: demand tanked as business meetings, travel and conferences all ceased
In its financial results for 2019, just filed, the group outlines how the impact of Covid-19 had a dramatic effect on its operations.
In stark contrast to industry peer Moonpig, where the pandemic caused sales to boom, demand for business cards and Moo’s other business-related print services tanked.