Digital Healthcare, a provider of diabetic screening to the NHS, has received £2.6 million from investors including Leeds-based firm YFM.
Digital Healthcare, a provider of diabetic screening software to the NHS, has received £2.6 million from investors including Leeds-based firm YFM.
YFM contributed £510,000 from the British Smaller Companies VCT 2. Other participants include the private equity arm of FTSE 100 company Alliance Trust, which led the deal; investment bank Noble; and Elaia Partners, a French private equity investor with a focus on software.
The Cambridge-based company, which has raised £7.2 million to date, will use the funding to continue its expansion into the US, where its diabetes testing technology is already used in 19 states. It is also planning to launch new services for the diagnosis of other conditions.
YFM manages £300 million of funds and has invested £42 million in 112 UK businesses over the past 12 months.