Science Creates Ventures has made the second investment from its EIS fund 1 into Carbometrics, leading a £2.1m round with a syndicate of investors.
Carbometrics, the spin-out of Ziylo, is developing a supramolecular Glucose Binding Molecule platform, working towards reliable, accurate and long-lasting glucose sensors.
Andy Chapman, CEO of Carbometrics says: “This investment provides the runway that the company needs to execute our focussed research and development plan and to take our exciting technology to the next stage. We thoroughly enjoyed building this new syndicate of investors, which will help ensure continued success if we hit our commercial milestones.”
The syndicate includes previous angel investors, the University of Bristol Enterprise Fund, managed by Parkwalk and seed venture capital funds, Ada Ventures and Selvedge Ventures.
Sam Olof, General Partner of Science Creates Ventures, says: “It’s been a real pleasure to work with the Carbometrics team. The level of commercial understanding and technological expertise around their technology is really impressive. We look forward to working with Andy and the team to help enable this company to grow through its next stage of development.”
Check Warner, Partner at Ada Ventures, says: “We’re pleased to be investing in one of the most exciting teams and technologies coming out of a UK University in recent years, in the Ziylo and Carbometrics team from the University of Bristol. At Ada Ventures, we’re looking to invest in groundbreaking technologies tackling some of the world’s biggest challenges, and Carbometrics is a great example of a world-class team and technology doing that.”
For more information on Science Creates Ventures, click here.