News
Scottish biotech company OGI Bio receives £650,000 follow-on investment
Pictured (LR): Alex McVey, CEO of OGI Bio, Michiel Smith, Chief Investment Officer, Professor Teuta Pilizota, Scientific Director, and Moray Martin, CEO of TRICAPITAL Angels (Image credit: Stewart Attwood)
Edinburgh-based biotechnology company OGI Bio has secured follow-on funding of £650,000 in a deal led by TRICAPITAL Angels and supported by Scottish Enterprise, Merleview, Apollo and Old College Capital.
The funding will accelerate OGI Bio’s expansion into the UK, EU and US biotechnology sectors.
OGI Bio’s advanced bioreactors and automated systems optimize microbial growth, streamlining product development across multiple industries. Founded to solve the inefficiencies of manual microbial growth, OGI Bio’s cost-effective solutions have generated significant interest.
Alex McVeyCEO of OGI Bio, said: “With this investment, we will launch additional modules to complement our existing market offerings and an enhanced software suite that provides our customers with greater flexibility in process control.
“This will allow them to visualize, measure and control their cultivation processes from anywhere in the world.”
McVey added: “TRICAPITAL Angels has been a crucial partner for OGI Bio since March 2022, leading the company’s first pre-seed raise alongside partners including long-term backers Apollo Informal Investments.
“Over the past two years, TRICAPITAL Angels has continued to provide unwavering support, participating in two additional rounds of funding.”
CEO of TRICAPITAL Anjos Moray Martin said: “TRICAPITAL Angels is proud to continue our support of OGI Bio. Their innovative approach to microbial growth and analysis is transforming the biotechnology industry and we believe they are well positioned for significant growth.”