SageTech Medical Equipment Ltd are pleased to announce that total investment raised in the recently closed round reached £2.9million. This included a £1.6million investment introduced by specialist venture capitalist EMV Capital. As part of restructuring for the commercialisation of the business, EMV Capital’s parent company NetScientific PLC purchased £200k of shares, in line with its direct investment strategy and demonstrating the Group’s commitment to SageTech Medical.
This pre-series A round is part of a fundraising strategy to complete pilots that are currently underway within UK hospitals and to scale up commercial operations to meet demonstrated global demand for SageTech’s technology platform. The funding will also be used to further development towards market authorisation for SageTech’s recycled anaesthetic product. This investment follows a successful first close alongside existing investors in November 2020. Since the first close of this investment round, John Clarkson (Chairman of NetScientific PLC, EMV Capital’s parent company) has joined the board of SageTech, bringing his wealth of commercial expertise to the next exciting stage of the company’s growth.