IQ Capital leads £5.3m round for Fluidic Analytics

Other existing backers including Amadeus Capital Partners, Cambridge Enterprise Seed Fund, Parkwalk Advisors and Draper Esprit also took part in the round, alongside new backer Cambridge Innovation Capital.

The fresh capital will enable the business, which is currently in the process of bringing its products to market, to invest in its laboratories.

As part of the deal, IQ's partner and lead investor Max Bautin will take a seat on the Fluidic Analytics board.

IQ's investment in a biotech startup is rare – Fluidic Analytics remains its only active portfolio company from the sector. The firm mostly invests in software businesses, the latest one being a £1.5m round for Spectral Edge, a developer of image fusion, colour perception-based processing, and image enhancement technologies.

Previous funding
Draper Esprit, IQ, Parkwalk, Amadeus and Cambridge Enterprise took part in a £1.56m series-A for the business in January 2015. The funding round supported the commercial launch of the company's products.

Company
Founded in 2013 as a spinout from the University of Cambridge, Fluidic Analytics is a developer of technology for the identification of proteins that indicate the onset of human diseases. Its products will initially be rolled out to customers in the research tools sector, followed by the clinical diagnostics and consumer healthcare segments.

People
IQ Capital Partners – Max Bautin (partner, lead investor).
Amadeus Capital Partners – Hermann Hauser (partner, co-founder).
Fluidic Analytics – Andrew Lynn (CEO).

Advisers
Equity – Bracher Rawlins (legal); Confluence Tax (tax); Mills & Reeve (legal).

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• Topics
• Early-stage
• UK / Ireland
• Healthcare
• United Kingdom
• Amadeus Capital
• Venture