Fife, Scotland-based retinal imaging company Epipole has raised £1.3m in a funding round led by early-stage investor Greenwood Way Capital, along with support from Scottish Enterprise, a government funding agency.
The Scottish company plans to use the funding to hire people in the US to support the company’s product launch and early commercialisation within primary care optometry and general ophthalmology practices.
Founded in 2011, Epipole has developed handheld devices that take video scans of the retina, providing clinicians with high-quality images for further assessment.
It works with several NHS hospitals, research institutes, and independent clinicians to gain regular feedback for its products.
It follows the startup’s £1.5m funding round in 2020.
The company has appointed experienced medtech executive Conal Harte as CEO from Össur, replacing founder Craig Robertson. Consequently, Craig Robertson has taken up the chief technology officer (CTO) position.
Epipole chairman Ian Stevens said: “I am pleased to welcome Conal to the company. He joins at a crucial moment in our development and brings the significant commercial experience of growing disruptive medical technologies in international markets.”
The company’s epiCam is a CE marked Class I medical device and complies with ISO10940, the international standard for fundus cameras.
Conal Harte, incoming Epipole CEO, said: “I am delighted to have the opportunity to join the epipole team at such an exciting time. Our unique approach to retinal imaging will help our clinician customers deliver an outstanding level of eye care to their patients through a market-leading technology that delivers exceptional imaging in a powerful, portable, and low-cost device. This latest investment round will kickstart our US growth ambitions.”
The investment was advised by Catherine Feechan, a partner at law firm Davidson Chalmers Stewart.