LabMinds raises £2.1m through joint crowdfunding and Angel Co-Fund investment

UK Oxford-based company raising funds for flagship product Revo.

UK scientific equipment manufacturer LabMinds has secured £2.1 through a combination of crowdfunding and a £500,000 investment from the Angel Co-Fund.

LabMinds claims to combine advanced laboratory equipment with cutting edge technology to provide next generation scientific solutions.

It was founded in 2009 and its flagship product Revo is designed to improve the solution preparation process. It has attracted attention from some big global names in healthcare – prompting the company to raise capital and meet demand.

The majority of the cash was raised through equity crowdfunding platform VentureFounders. The target was reached within 38 days of the initial 90-day funding period. But investors can still contribute until the end of February.

LabMinds CEO Ville Lehtonen said that the crowdfunding campaign has “surpassed all our expectations”.

“I am thrilled that the Angel CoFund chose to match the fundraise at an early stage, allowing us to significantly exceed our target. We look forward to accelerating our business plan with this investment,” he added.

VentureFounders co-founder James Codling added that the successful campaign is a “fantastic demonstration of the UK’s support of innovative growing British businesses”.

“LabMinds has a unique proposition that has the power to revolutionise healthcare and scientific practices globally and we are excited to be a part of that,” he said.

Further reading on crowdfunding: Bitreserve breaks crowdfunding record with £6.3m investment

Praseeda Nair

Praseeda Nair

Praseeda was Editor for from 2016 to 2018.

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Early Stage Funding