Exciting Instruments, a Sheffield University spinout, has secured £4 million in funding to expand its groundbreaking health technology.
- The investment was led by Northern Gritstone, joined by Empirical Ventures and Northern Powerhouse Investment Fund II.
- The company has developed a cutting-edge platform for single-molecule detection, revolutionising molecular analysis.
- Initial applications of this technology are reshaping drug development and clinical diagnostics.
- Plans include expanding partnerships, enhancing team capacity, and evolving product offerings.
Exciting Instruments, a spinout from Sheffield University, has successfully raised £4 million in seed funding. This financial boost was primarily led by Northern Gritstone, chaired by Lord Jim O’Neill, demonstrating significant confidence in the North of England’s science and tech sectors. Additional backing came from Empirical Ventures, who conducted scientific due diligence, NPIF II – Praetura Equity Finance, and renowned entrepreneurs Stan Boland and Jonathan Millner.
The company’s innovative platform offers a practical and efficient method for single-molecule detection. This capability is critical for various fields, including pharmaceuticals and healthcare, by allowing users to visualise and analyse individual molecules and their interactions. Such advancements support high-throughput processing and analytics automation, which are key enhancements for improving efficiency and productivity.
Historically, single-molecule microscopy has been constrained by complex workflows and limited access, confining its usage to niche research environments. However, Exciting Instruments is broadening this scope, demonstrating a new path for molecular analysis. As a result, their platform is already in use by early adopters to drive new findings in drug development and clinical diagnostics.
These advancements suggest a future where incumbent methods may no longer suffice, as Exciting Instruments steers to redefine global health outcomes. With the new funding, the company plans to enhance commercial partnerships, expand its workforce, and continue developing its product offerings.
Duncan Johnson, CEO of Northern Gritstone, expressed his satisfaction with the oversubscription of the funding round, indicating the quality of deep tech investments in the Northern Triangle. Tim Craggs and Rob Bell, co-founders of Exciting Instruments, aim to make single-molecule insights foundational in labs worldwide. They envision their technology as the catalyst for groundbreaking health discoveries.
The £4 million investment marks a pivotal moment for Exciting Instruments, poised to transform health technology globally.
