Retinal imaging specialist epipole is looking to kickstart its US growth ambitions following a £1.3 million funding round.
The Fife-based company has also appointed a new chief executive to take over from Craig Robertson, who set up the company in 2011 and is now moving into the position of chief technology officer. Conal Harte joins epipole from global orthopaedics company Ossur, where he was managing director of emerging markets.
The fresh funding round was led by Greenwood Way Capital – a network of funds, family offices and “ultra-high worth” individuals that co-invest in companies with disruptive technologies – and supported by Scottish Enterprise. Greenwood Way was also the primary backer in a previous £1.5m investment round closed by epipole in 2020.
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The company’s hand-held epiCam allows clinicians to record scans of the retina using real-time video. Images are extracted from these videos for further examination, allowing for the earlier detection of disease.
“I am pleased to welcome Conal to the company,” epipole chairman Ian Stevens said. “He joins at a crucial moment in our development and brings significant commercial experience of growing disruptive medical technologies in international markets.”
The latest round of investment is supporting a recruitment drive in the US, where the company is aiming to launch its product into the primary care optometry and general ophthalmology markets. Mr Harte said he is “delighted” to be joining epipole at “such an exciting time” for the company.
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“Our unique approach to retinal imaging will help our clinician customers deliver an outstanding level of eye care to patients through a market-leading technology that delivers exceptional imaging in a powerful, portable and low-cost device,” he said.
The company, which currently employs 12 people, was advised on the latest funding round by law firm Davidson Chalmers Stewart.
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