FIGURA ANALYTICS RAISES £180,000 IN SEED FUNDING ROUND.
May 4th 2021
Nanotechnology business Figura Analytics announced today that it had raised £180,000 in seed round funding from private investors and the UK’s leading early stage investor SFC Capital.
The company was spun out of Loughborough University in January 2021, backed by an Innovate UK grant, to develop its rapid testing technology platform aimed at helping the drinks industry to improve quality and consistency of ingredients and finished product.
Figura’s nanopore technology uses microfluidics, sensors and software algorithms, which enables them to recognise and characterize any particle suspended in a solution. Figura’s rapid analysis technology has a number of uses in drinks manufacturing, from analysing flavours and filters, through to replacing traditional microbiological tests.
Mark Platt and Rhush Maugi, Figura’s academic founders, have spent years developing the technology format that will be low cost and easy to use. The technology was fast-tracked through Innovate UK’s Innovation to Commercialisation of University Research (ICURe) programme in 2020 and Figura was formed in January 2021. They are already working with national and international drinks industry partners to further develop their technology and processes, along with the Manufacturing and Technology Centre, as they get ready to start commercial production in 2022.
Nick Whitehurst (CEO) said:
‘We are delighted to welcome SFC and our new private investors to Figura Analytics. We have had great initial feedback from the drinks industry, to a completely new way for them to rapidly analyse their products and ingredients and we look forward to building our business, as we further develop our technology platform and manufacturing capability.’
For more information contact [email protected]