CellFacts grows international base with cash boost
A Coventry-based company which measures the microbial content of fluids has won several overseas orders after receiving funding worth £230,000.
CellFacts Instruments, based at the University of Warwick Science Park, supplies precision analysis systems which provide real time detection and enumeration of microbial cells.
The company has won orders to supply its machines to clients including Pfizer Nutrition and Innovative Biotech of Singapore.
It received a £75,000 investment from Birmingham-based investor Midven’s Early Advantage Fund to enable it to diversify into new markets.
A further investment has been made by a small number of other investors, resulting in a total equity injection of at least £230,000.
Crawford Dow, chief executive of CellFacts Instruments, said: "There is the further likelihood that Pfizer will introduce this technology to other sites around the world. We see this as a significant milestone in the continued growth of the company."
Duncan Kerr, investment director at Midven, added: "This is an exciting time for the company, and we’re delighted to be helping them move to the next stage in partnership with others. This is an innovative company with high growth prospects and has some loyal customers and an impressive pipeline of prospective orders."
