UK VCT firm Albion Ventures has made a follow-up investment in healthcare software company Mirada Medical.
Albion Ventures is investing a further £850,000 in Mirada, in addition to new equity which was acquired by the employees and founders of the company. This follows Albion’s initial investment of £1.5m in 2008.
Mirada Medical provides software products that help doctors use medical images to diagnose and treat cancer.
The additional funding will be used to accelerate the company’s growth plans, the company said. The investment will fuel the expansion of Mirada’s product distribution worldwide and support accelerated product development through the addition of new high-value scientific and engineering positions at their Oxford, UK headquarters.
“Mirada has been an excellent investment for Albion and we are delighted to support its continued growth” explained David Gudgin, partner at Albion Ventures. “Since our initial investment, 80% of the Mirada’s sales have been generated from outside the UK, demonstrating how VCT funding can help to generate export-led growth. We look forward to helping the firm to grow sales of its proven imaging software.”
Albion Ventures is a venture capital investor specialising in VCTs with around £240m under management.
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