Axial3D secures £230,000 of new investment in seed funding

Belfast-based medical technology firm creates patient-specific 3D models for surgeons

Axial3D the Belfast based medical technology firm, specialises in 3D printing within the healthcare sector

Axial3D the Belfast based medical technology firm, specialises in 3D printing within the healthcare sector

 

Axial3D, the Belfast based medical technology firm, which specialises in 3D printing within the healthcare sector, has secured £230,000 of new investment in its latest seed funding round.

It brings the total funding secured to date to £530,000.

The firm is reporting strong global demand for its patient-specific 3D printed models – generated directly from patient CT and MRI scan data – which it says helps medical professionals prepare for surgical interventions and procedures.

Earlier this year Axial3D won a four-year contract with NHS Trusts in Wales and Northern Ireland to supply 3D printed pre-operative planning models.

In the latest funding round Axial3D, which was established two years ago, secured further backing from its largest single investor to date, Techstart NI, which is set to increase its total stake to £250,000.

Dr Sandy McKinnon, investment director at Techstart NI, said one of the reasons why it is excited about the Belfast firm is because it is “already making a profound impact”.

“The unparalleled insight the models give really does help the surgeon get it right first time and saves the healthcare provider both time and money,” said Dr McKinnon.

The Belfast firm has also secured new investment from leading local entrepreneur Patrick Hurst, formerly co-owner and CEO of Whale, which was acquired by the US-based group Brunswick in 2014.

Mr Hurst will also join the board of directors of Axial3D as the firm’s new chairman.