IP Group and angel investors are investing in the Oxford spin-out.

Intelligent Ultrasound, an image analytics spin-out of Oxford University, has raised £1.3m ($2m) in a funding round led by IP Group with participation from angel investors.

IP Group is investing £810,000, while existing and new angels are putting up £490,000. IP Group’s investment is subject to conditions, with a first part of £260,000 invested now and a further £550,000 subject to commercial milestones.

The company was spun out of Oxford’s Institute of Biomedical Engineering in 2012, and is commercialising its lead service Intelligent Quality Analytics (Iqa). The service allows providers of medical ultrasound imaging to make sure they are fully compliant with both local and national quality standards by monitoring scans and comparing them to quality standards.

Intelligent Ultrasound will use the money to support development of its Iqa algorithms.

Andrew Barker, chairman at Intelligent Ultrasound, said: “The investment and support from IP Group is an important endorsement of the potential of the Iqa service to improve patient care wherever ultrasound is relied upon to aid diagnosis. The management team and I look forward to working with IP Group as we pursue our shared goals.”