AI-Sight – the University of Liverpool AI diagnostic technology spin-out based at Sci-Tech Daresbury – has successfully concluded its seven-figure equity funding round from experienced healthcare industry figures and investors.
This funding round will support MHRA approval and Class 2 certification for AI-Sight’s full diagnostic platform, as well as its launch in the UK and internationally. The platform is designed to improve patient outcomes, with additional benefits that promote efficiency in public health systems and ensure human resources are allocated to the areas of greatest need.
The funders, committed to developing innovation and business in the NorthWest of England, include Sir Michael Bibby (Chairman of the Bibby Line Group and Hon PhD, University of Liverpool), Phil Kirby (former Managing Director of InHealth Intelligence), Pitalia Capital (the family office of Anil Pitalia, Founder of SpaMedica, ophthalmology specialists) and Deepbridge Capital.
This follows the Class 1 medical device certification of AI-Sight’s first commercial product. The AI software device is designed to support training and diagnostic decision-making by human graders of diabetic retinopathy in retinal scans.
As part of its membership of Sci-Tech Daresbury’s Future Club programme – the Liverpool City Region campus’ leading corporate growth scheme – AI Sight has benefited from early access to the business growth programmes, partnerships, and communities at the campus, along with its vibrant working environment with a range of hot desk, office, laboratory and workshop facilities across several buildings.
Through Sci-Tech Daresbury’s renowned networking events and collaboration opportunities, AI-Sight has also gained greater visibility within the business and scientific communities, including introduction to angel investors, UKRI, and a fact-finding mission to Singapore.
AI-Sight and its fellow Future Club members also have access to Sci-Tech Daresbury’s Gold Partners; eleven handpicked organisations that offer first-class support for Sci-Tech Daresbury companies in a range of business and research areas. The golden line-up includes Marks and Clerk, Grant Thornton LLP, RTC North - who manage the Innovate UK Business Growth programme, the University of Liverpool and David Antrobus Marketing.
In addition, the Future Club companies are encouraged to engage with handpicked mentors from the Sci-Tech Daresbury network. These entrepreneurs boasting many years of experience and success nurture the campus’ promising early-stage companies with their time, knowledge, and expertise to help them develop and implement positive strategies for their businesses.
Dr Steve Powell CEO said, “This latest funding milestone would not have been possible without the support of the team at Sci-Tech Daresbury. The Future Club programme has been instrumental in us making the connections that have enabled our growth to date.”
John Leake, Business Growth Director, Sci-Tech Daresbury, said: “AI-Sight represent what the Future Club and our campus as a whole sets out to achieve – a winning combination of science and enterprise that endeavours to improve the world around us while driving economic growth. This latest funding round is a very exciting moment for the business, but what’s more pleasing is that the company is just at the start of its journey. We look forward to supporting AI-Sight as it continues its vital work.”
The University of Liverpool has guided AI-Sight throughout its spin-out journey, from initial technology management to company formation and beyond. It continues to provide support in securing funding, building collaborations, and advancing technology development.