EnXray, a sterilisation technology company, has raised in excess of US$1 million (£800k) in its second venture capital-led equity funding round. The funds will support the further development and commercialisation of the company’s (patent-pending) Low Energy X-ray (LEXR) sterilisation technology.
EnXray is a UK medical technology start-up founded in 2012 with a novel and proprietary process for generation of low energy X-rays.
The company is commercialising its technology for sterilisation of medical devices and life science products, with the goal of developing, producing and distributing equipment for in-house sterilisation.
Ed Cappabianca, co-founder and CEO of EnXray, said: 'The investment came from a combination of existing and new investors, including regional venture funds, a corporate investor and individual investors who have experience of investing in early-stage companies.
'The round was anchored by the Northwest Fund for Biomedical, an existing investor, and a new institutional investor – CBC Holdings AB that matched the Northwest Fund’s investment in this round.
'This equity round, combined with the £2m loan facility available to us under the UK Government’s Advanced Manufacturing Supply Chain Initiative (AMSCI), ensures that we can successfully commercialise our technology in 2017,' he said
EnXray also announced that its first prototype unit has been installed at its partner SMS Electronics in Beeston.
It is currently being developed into a commercial version for customer demonstrations and validation. EnXray expects to start product sterilisation testing for potential customers in Q4 2016.