Phenotypeca raises an additional £450,000 seed investment and further enhances its Board.
Phenotypeca is extremely pleased to announce that it has successfully raised a further £450,000 of seed investment from the UK and overseas private investors to continue the rapid growth of the business in 2021/22. This additional investment from both existing and new private investors follows the news that Phenotypeca’s successfully secured £300,000 seed investment at the beginning of the year and expanded to BioCity Nottingham in July to set up their own facilities in addition to their University presence.
This latest funding not only allows additions to the team to further strengthen Phenotypeca’s commercial offering but allows the continuation of its ground-breaking research projects, increasing the value of Intellectual Property in the business and providing funds for equipment.
With this funding comes the exciting addition of key investors joining the Board of Directors in an advisory capacity, bringing valued expertise to an already strong team and supporting talent acquisition and retention, which will be crucial in the next two years.
Commenting on the new investment and the appointments to the Board, Keith Williams, Phenotypeca’s founder and Managing Director, said, “It is great to see further shares being purchased at a significantly increased price by the founders, existing and new shareholders who felt they had ‘missed out’ in the earlier round. The additional funding allows us to bring forward some key equipment purchases, make further key appointments in the team, and align with a faster growth business plan.”