TVP et. al in £4.4m round for Micrima

Kenny Wastell
19 June 2018

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Technology Venture Partners (TVP), Angel CoFund and Venture Founders have led a ТЃ4.4m funding round for Micrima, a developer of breast cancer screening systems.

The fresh capital will enable the company to bring its initial Maria product to market and invest in further product development. Maria is a whole-breast screening process that requires no compression and uses radio waves, as opposed to the localised results produced by handheld probes and ionising radiation employed in mammography.

The funding round will also enable Micrima to undertake a recruitment drive to support the commercial launch.

The funding round, which also included participation from new and existing angel investors, brings the total amount raised by the company to £10.7m.

Previous funding
Nesta led a £475,000 round for Micrima in 2006, supported by a syndicate of private investors and Sulis, the University Challenge Fund managed by Quester. YFM Equity Partners and Swarraton Partners then led a £2m expansion deal for Micrima two years later. Angel CoFund, Swarraton and YFM took part in a £1.5m funding round for the business in 2012, before TVP, Swarraton and Angel CoFund took part in a £2.6m round in 2016.

Company
Founded in 2006 and headquartered in Bristol, Micrima is a developer of breast cancer diagnostic screening systems.

People
Technology Venture Partners – Nick Simmonds (partner).
Angel CoFund – Tim Mills (investment director).
Venture Founders – James Codling (co-founder, managing director).
Micrima – Roy Johnson (executive chairperson).