DermView raises €1.9m to fund expansion after winning NHS contract

Oversubscribed round values business at €8.2m and attracts high-profile investors

Nora Chiorascu, head of operations, demonstrating the DermView imaging process

Nora Chiorascu, head of operations, demonstrating the DermView imaging process

 

Irish company DermView has raised €1.9 million in seed funding at a €8.2 million valuation.

The company, which is behind a chain of Irish dermatology clinics, is to use the funding to roll out its skin imaging services in Britain.

The funding round, which was more than three times oversubscribed, included participation from seasoned investor, such as property developer Michael Cotter, Donagh Barry of the Barry’s Tea family, Irrus Investments and Tim Crowley leading a private group from Park Developments.

Founded in 2018 by Eoin O’Reilly and Dr Rupert Barry, DermView offers high-tech skin imaging that results in quicker diagnosis and treatment plans for patients.

The company, which recently secured a contract with St James’s Hospital in Dublin, is also looking to expand into ophthalmology.

It is pressing ahead with major expansion plans that include opening two new 4,000 sq ft facilities on either side of Dublin, as well as opening in Northern Ireland and across Britain in the new year in partnership with the NHS.

The company was recently selected as a chosen partner by the NHS in a consortium to enable skin artificial intelligence by 2025 across the UK.

DermView’s board includes former AIB and Central Bank director Bernard Somers and ex-Health Service Executive director general Tony O’Brien.