Angels in MedCity investors cornerstone Clustermarket's £250k investment round
13th April 2017
London-based sharing platform for life sciences, Clustermarket, has closed a Â£250k seed investment through the Angels in MedCity programme - a partnership between MedCity, LBA and Angels4LifeSciences - and other co-investors.
Clustermarket is an online platform, allowing life science experts, companies and institutions to share their technology and infrastructure with their peers. On top of that, whole scientific services can be offered on the platform. Clustermarket’s goal is to support scientists in their research by giving them access to existing resources and by making it financially sustainable.
The investment, which included participation from the London Co-Investment Fund (LCIF), will help Clustermarket to grow its business and establish the company in the “Golden Triangle” (Cambridge, London and Oxford). The company also plans to expand its platform within the UK, and develop complementary features on the platform.
Johannes Solzbach, Clustermarket CEO, said: “We are thrilled to see our investors backing our mission to break down the barriers to entry for science startups by democratising scientific research. This investment is helping us offer scientists more and better collaboration opportunities in the UK.”
Sarah Haywood, MedCity CEO, said: “Knowledge sharing and collaboration are crucial for life sciences activity and this platform facilitates this in a quick and easy way. I am pleased to support the connection of exciting new ideas with resource-rich institutions, to speed up commercialisation, and reduce costs to companies.
“Clustermarket is the 17th company Angels in MedCity has helped to raise funds in just over two years; companies that collectively have received over £14m from our community of Angel investors. We are proud to help SMEs get the vital funds they need to grow their business and contribute to the UK life sciences ecosystem.”
Anthony Clarke, LBA CEO, comments “The Clustermarket platform provides medical equipment holders with a means to make additional revenue through their underutilised assets and provides a net benefit to the whole life sciences eco-system. I am particularly pleased that the round has been led by a sector-specific lead angel investor whose domain expertise will be of significant value to the company going forwards.”
Tony Littner, Head of Start-Ups and Venture Capital and his team at law firm Harbottle & Lewis acted for the company on the investment round.