Edinburgh-based start-up OGI Bio has secured £1m in funding for its work to revolutionise microbial culturing.
The investment was led by Tricapital, alongside Apollo Informal Investment, Old College Capital, Sapphire Capital Partners in conjunction with Queen’s University Belfast’s QUBIS Innovation Fund, Merleview Capital and Scottish Enterprise.
The money will help OGI Bio establish a new laboratory and manufacturing facility, grow the team, and ramp up sales of the company’s automation systems to the microbiology and biotechnology sectors.
Its automated device helps improve processing capability, cost effectiveness and data analytics.
Co-founded in 2020 by Alex McVey, a physics graduate from the University of Edinburgh and Royal Society of Edinburgh Fellow, and chief science officer Professor Teuta Pilizota, an internationally renowned expert on microbial physiology and chair of biophysics at the University of Edinburgh, OGI Bio started shipping its first customer orders this year.
McVey said: “Our aim is to ultimately have one of our devices on the bench of every microbiologist and biotechnologist, enabling them to innovate more productively, flexibly, and sustainably.”
Pilizota said: “Our products can be used by anyone who is growing microbes like bacteria, yeast, and algae, but we are focusing initially on biotech and microbiology companies, and academic research laboratories who are looking to accelerate their own development with low-cost automation and improved analytical tools.”
Moray Martin, chairman and managing partner of The Tricapital syndicate, said: “OGI Bio has a world-class leadership team, an exciting product that is already achieving commercial success and coherent and realisable plans to extend its product range.”
The base unit of OGI Bio’s automation system recently received UK and international certifications, which allow the company to market its products in the UK, Europe, North America and beyond.
OGI Bio also received a SMART Scotland grant via Scottish Enterprise, and additional funding from the Higgs Incubation Centre, earlier this year.
The company’s board is chaired by Stephen Roe, supported by investor directors Michiel Smith, representing Tricapital and Apollo, and Andrew Murphy, representing Old College Capital.
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