LBA angel syndicate investment helps to close Bactest’s £900k funding round

30 January 2012

Early stage Cambridge based biotechnology and sustainability specialist, Bactest limited, has closed a £900k funding round which included an investment by a syndicate of LBA angels. The company develops products that enable the billion pound water market to significantly reduce electricity spend and carbon emissions. The company’s first two products are a portable testing instrument that delivers results in 24 hours compared to the current standard of 5 days and an in-situ real time monitoring system. The funds will be used to bring these products to market and together with Anglian Water build and deploy a prototype in-situ waste water monitoring system, “Shepherd.”

Annie Brooking, Bactest CEO comments, “it would not have been possible to close this funding round in this difficult economic climate if Bactest did not offer a unique investment opportunity that is large, global and homogenous”

Anthony Clarke, Managing Director of London Business Angels comments, “this is a very good example of the power of syndication and we are pleased to contribute to this £900k syndicate through the participation of a group of LBA Angels. Given the mixture of investment from early stage venture capital funds and business angels, we would like to congratulate the Bactest team on their perseverance and skill in successfully pulling this syndicate together.”

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