NI MedTech company axial3D raises a healthy £2.4m
by Startacus Admin
NI-based medical technology company, axial3D, has raised £2.4m of investment following a successful ‘Series A’ funding round.
Based in Belfast, axial3D is a pioneering medical 3D printing company specializing in the use of patient-specific medical models to advance both standards and efficiency of surgical intervention. Creating precise 3D models generated from patient CT, MRI and PET data, this technology enhances pre-operative planning by personalizing healthcare. axial3D dispatches custom 3D printed models globally within 48 hours.
While the axial3D team is already working with internationally renowned healthcare providers and surgeons, the £2.4m investment will support the creation of eight new jobs, further R&D and drive expansion into key markets, including the USA.
The financing round was led by London-based Imprimatur Capital Fund Management, an international science and technology investor. Internationally the round was supported by a US cohort of angel investors, made up predominantly of surgeons.
At a local level, axial3D was further supported by its initial investor - Techstart Ventures through its TechstartNI fund, 
which was established by Invest NI as part of its Access to Finance strategy. Other early stage investors include Clarendon Fund Management, through its Invest NI fund, Co-Fund NI, and Innovation Ulster Ltd.
axial3D’s key aim is to deploy Artificial Intelligence techniques within its software, reducing pre-production time and enabling more healthcare institutions to benefit from the use of 3D printed models.
The global 3D printing medical devices market is set to grow over 23% in the next five years, largely due to the increasing adoption of 3D printing technology within the medical sector.
axial3D has a range of solutions to suit healthcare institutions at every stage of their 3D printing journey, from those needing a one-off custom print, to those with an existing 3D print lab hoping to increase compliance and productivity, while reducing operating costs.
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Published on: 23rd July 2019
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