Healthcare and research analytical tools business Aridhia has raised an undisclosed amount through a syndicated venture capital deal.
UK investors Scottish Equity Partners and Albion Ventures are leading the deal into the Edinburgh-based biomedical informatics company.
Founded in 2008, Aridhia has spent the last five years developing an informatics platform which contents analytical tools to support healthcare and research.
The business was established by David Sibbald, an entrepreneur, and Andrew Morris, who serves as dean and professor of medicine at the University of Dundee.
Jan Rutherford, partner at Scottish Equity Partners, comments, ‘Aridhia is the leading European company in its field.
‘As chronic disease is increasing in prevalence globally, we are delighted to continue to support the business as it rolls out its core platform of ground-breaking informatics and analytics services.’
Scottish Equity Partners first became involved with Aridhia back in 2009 when it injected £600,000 into the business.
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Aridhia has already collaborated with partners such as software business Pivotal and life sciences firm Life Technologies – with which the newly-backed business is supporting the Stratified Medicine Scotland Innovation Centre.
Sibbald, co-founder and chief executive of Aridhia, adds, ‘We are excited to have gained the backing of Albion whose expertise in the healthcare IT sector convinced us that they would be ideal partners.
‘Given our ambitious growth plans and the size of the opportunity, it was important to partner with a firm that had both the financial resources and a clear vision of how the market will evolve.’
Scottish Equity Partners, which has portfolio companies including online flight booking business Skyscanner and SMS marketing business Pure360, has now made two new investments in a week.
The senior management team, led by CEO Terry Hunter, were successful in leading a buy-out of digital retail business Tryzens with help from Scottish Equity Partners.