Active Needle Technology has raised £350,051 on online investment platform SyndicateRoom.

The startup, which has developed a device designed to help doctors perform more accurate and reliable needle-based procedures, surpassed its £250,000 target by about 40%.

According to a statement, the funding will enable the Oxfordshire-based firm to advance to pre-production stage.

Ian Quirk, CEO and co-founder of Active Needle, said: “Active Needle is committed to developing precision needle-based devices to improve accuracy during medical procedures, such as biopsies. The clinical impact of precision targeted needles includes increasing confidence of needle tip detection, whilst patients can benefit from reduced complications and discomfort.

“Funds raised via SyndicateRoom will be used to progress the device to pre-production standard, testing and into regulatory approval,” he added.

Founded in 2012, SyndicateRoom allows members to co-invest alongside experienced investors in opportunities.

Gonçalo de Vasconcelos, CEO and co-founder of SyndicateRoom, commented on the startup’s campaign results: “Active Needle is a clear example of a MedTech innovator developing equipment to benefit both clinicians and patients, whilst providing potentially significant cost-saving benefits for the health sector, making the world a better place. We are delighted to welcome Active Needle as the latest MedTech success story to join our company portfolio.”

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