Enterprise software supplier Kainos joined Queen's University Belfast's TTO for medical diagnostics company Cirdan's latest round.
UK-based medical diagnostics technology developer Cirdan Imaging has raised £3.5m ($5m) in a round that included a £900,000 investment by enterprise software provider Kainos.
The round was led by Kernel Capital, which invested £2m through Bank of Ireland Kernel Capital Growth Fund, a venture capital fund backed by financial services firm Bank of Ireland. It previously invested an undisclosed sum in Cirdan in February 2015.
The UK state-backed Co-FundNI and Qubis, the commercialisation arm of Queen’s University Belfast, also took part in the round, as did undisclosed private entities.
Founded in 2010, Cirdan supplies laboratory information systems and digital pathology devices. It will spend the funding on increasing its workforce and growing its sales infrastructure globally.
Cirdan chief executive Hugh Cormican said: “We are delighted to be working with Kernel Capital. Kainos and our existing investors.
“Over the last three years we have been working closely with Kainos on product development and this investment consolidates our relationship. Cirdan sees a lot of opportunities and with the investment and Kainos support, it puts us in an excellent position to capitalise on them.”
– This article was first published by our sister site Global Corporate Venturing.
