Participated · Seed · Nov 2025

Founded in 2020, Ilimex designs, supplies and validates cutting-edge air-treatment technologies that achieve Log-6 (99.9999%) pathogen reduction in a single pass. Its newest product, Flufence, continuously detects airborne pathogens and applies high-intensity UVC light to neutralise viruses such as Avian Influenza, targeting intensive poultry production and medicinal mushroom cultivation. Trials in mushroom facilities showed an overall drop in contaminant pathogens when the Ilimex system was operating. Management estimates the initial global poultry air-cleaning market at roughly £4 billion and the mushroom-sector opportunity at about £3.5 billion across the UK, US and EU. The company’s strategy is to deploy Flufence with key customer partners to gather independent performance data that links air sterilisation to production efficiency and profitability. Demand for its high-level biosecurity solutions is expanding as airborne contamination threatens regulatory compliance and bottom-line results in agri-food settings. Ilimex positions its technology as providing market-leading biosecurity and aims to capitalise on significant local and global opportunities. The recent seed financing strengthens its balance sheet and supports validation and commercial rollout of Flufence.

Participated · Equity · Aug 2025

Neurovalens is a Belfast-based health‑tech company co-founded in 2015 that develops non-invasive neurostimulation medical devices under its Modius technology. The company has obtained FDA clearance for two products: Modius Sleep for treating insomnia and Modius Calm for managing anxiety; both devices are available for purchase in the US and are being prescribed by healthcare professionals. Neurovalens aims to address global health challenges including insomnia, anxiety and PTSD and plans to extend its product portfolio through additional FDA approvals. The company says the new funding will support commercial expansion across the US and other global healthcare markets, advance its regulatory pipeline, and accelerate sales of its FDA-cleared devices. To date Neurovalens has raised approximately £20m in equity and debt from UK investors. Neurovalens develops noninvasive medical devices that deliver small electrical stimulation to targeted areas of the brain and nervous system. Its Modius Stress device is designed to treat generalized anxiety disorder by delivering a brief, safe electrical pulse to the head for 30 minutes before bed. The company recently secured FDA 510(k) clearance allowing Modius Stress to be sold in the US to patients with a prescription. Neurovalens previously obtained FDA clearance for Modius Sleep in October 2023; that device is already available for sale and being promoted by doctors. The company completed two Phase III/pivotal clinical trials in mid-2023 in the UK/Ireland and India that supported the clearance. Neurovalens has closed a £2.1M funding round with existing investors and has previously raised around £11M in equity from UK investors. Management says the clearance supports plans for continued growth in the US market. Neurovalens develops non-invasive neuro-technology products based on technology created in collaboration with research facilities at the University of California San Diego. The company aims to influence the brainstem and hypothalamus to cure or treat neurological diseases without implanted electrodes. Founded in 2015 by CEO Dr Jason Mckeown, Neurovalens is based in Belfast, Northern Ireland, and San Diego, California. It is already in the final phase of trials for an obesity device and is pursuing approvals for insomnia and anxiety devices within the next 12 months. The company plans diabetes trials in 2021. Neurovalens is seeking regulatory approvals from the FDA and EU and intends to use new funding to expand initial clinical trials, develop the technology for other conditions, and hire additional staff. Neurovalens is a Belfast-headquartered medtech company that has developed a headband designed to help users lose weight. Its core product is the weight-loss headband, which the company markets as a consumer health technology. In March 2019 Neurovalens raised £4.6m (€5.4m) in an equity funding round. The raise was described as one of the largest ever generated by a Northern start-up. The round was led by Wharton Asset Management with participation from TechStart Ventures, IQ Capital, Beltrae Partners, Co-Fund NI and the Angel CoFund. Neurovalens was founded in 2015 by Dr Jason McKeown and neuroscientist Paul McGeoch and was named Northern Ireland’s best start-up in the Invest NI Propel Programme awards that year. Neurovalens develops Modius, a wearable headset that aims to help users achieve leaner, healthier bodies through vestibular nerve stimulation. The company completed a $1.57M Indiegogo crowdfunding campaign with 4,000 backers across more than 80 countries. It plans to use the funds to invest in additional research and further develop Modius. Neurovalens intends to launch sales via its website in early 2018 and to be present at CES 2018. Founded in 2015 by Dr. Paul McGeoch and Dr. Jason McKeown, the company operates from dual headquarters in Belfast, Northern Ireland and San Diego, California. To date it has raised £1.4 million in VC funding.

Participated · Equity · Jul 2019

Axial3D offers a cloud-based, 510(k) cleared segmentation platform that uses AI algorithms to convert CT and MRI DICOM data into accurate 3D visualizations, printable files, and patient-specific anatomic models. Its tools reduce the time, specialized skill and cost typically required to produce 3D printed models used for pre-surgical planning, diagnostics, education, training and medical device development. The company’s software has been validated with Stratasys printers to produce biomechanically realistic models for multiple specialties. Axial3D intends to expand accessibility of patient-specific 3D printing for hospitals and medical device manufacturers through joint offerings with Stratasys to help scale those programs. The company highlighted plans to discuss the collaboration at RSNA 2022. Axial3D is presented in the release from Belfast, Northern Ireland and Rehovot, Israel. axial3D produces precise patient-specific 3D medical models generated from CT, MRI and PET data to improve pre-operative planning and personalize healthcare. The company specializes in medical 3D printing to advance surgical standards and efficiency. Led by CEO Daniel Crawford, axial3D operates out of Belfast, UK and Claymont, Del. It recently closed a $3M funding round to support its growth. axial3D plans to use the funds to expand its machine learning team, which builds automated algorithms. The company also intends to grow into the U.S. market by opening a regional office. axial3D is a Belfast, UK-based web-based technology company focused on 3D printing in healthcare. It creates precise 3D models generated from patient CT, MRI and PET data to aid diagnosis and enhance pre-operative planning. Its 3D-printed models are used by prominent consultants from the NHS and private healthcare sectors across disciplines including orthopaedics, oncology, oral and maxillofacial, trauma and cardiac surgery. The company raised a second close of seed funding, which now totals £530K. axial3D plans to use the funds to further develop its axial3D insight. Techstart NI and investor Patrick Hurst MBE are named backers, with Hurst joining the board as Chairperson.

Participated · Series A · May 2018

SiSaf is a UK-headquartered biotech startup that develops drugs using Bio-Courier technology. The company focuses on drug development leveraging its Bio-Courier platform. It has raised $13.2 million in a Series B round. The Series B was led by Singapore-based Vickers Venture Partners. The funding details were reported via an announcement; no additional financial terms or participants were specified in the article. SiSaf is a UK-headquartered commercial-stage biopharmaceutical company pioneering ProSilic, a patented bio-courier technology that combines porous silicon and liposomes. ProSilic is designed to improve stability, solubility, bioavailability, release and routes of administration for a wide range of molecules. The company has a dermatology-focused pipeline and also operates subsidiaries in cosmetic skincare and nutraceuticals. SiSaf says it does not discover new drugs but formulates existing ones to enhance efficacy and reduce limitations such as poor solubility or stability. The company recently showcased ProSilic at the South Beach Symposium and plans to use new funding to accelerate development of its dermatology programs. No revenue or user metrics are disclosed in the article. SiSaf develops next-generation silicon nanotechnology for drug delivery. The company is described in the article as a silicon nanotechnology drug delivery specialist. The fundraise was reported from Singapore. Vickers Venture Partners, a VC firm with a global footprint, led the financing. Exen Capital participated in the round, and Invest Northern Ireland, an earlier investor, followed on. No operating metrics or uses of proceeds were disclosed in the article.