Technology Venture et al. in £2.6m round for Micrima

The fresh capital will be used to develop the company's Maria imaging technology, which is designed to improve the safety of breast cancer screening and reduce the cost of the process. It intends to bring its product to market by the end of 2016.

The University of Bristol Enterprise Fund and Venture Founders – a platform for high-net-worth individuals – also took part in the round.

Previous funding
The latest investment round marks the fourth time Micrima has received investment from institutional fund managers, according to unquote" data. In 2006, Nesta led a £475,000 round for the company, supported by a syndicate of private investors and Sulis, the University Challenge Fund managed by Quester. Two years later YFM Equity Partners and Swarraton led a £2m expansion deal. Most recently, Angel CoFund, Swarraton and YFM took part in a £1.5m funding round for the business.

Company
Founded in 2006, Bristol-based Micrima develops radiowave breast imaging technology. Its products are designed to reduce the risks and discomfort associated with x-ray mammography.

Micrima is also developing its next iteration of the Maria system, which will offer the additional functionality of distinguishing between different types of lesion.

People
Angel CoFund – Tim Mills (investment director).
Micrima – Roy Johnson (executive chairperson).

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