EnXray Ltd, a Liverpool, England, UK-based sterilization technology company, raised in excess of $1m (£800k) in its second venture capital-led equity funding round.
The round – which followed the receipt of a £2m loan facility under the UK Government’s Advanced Manufacturing Supply Chain Initiative (AMSCI) – was anchored by the Northwest Fund for Biomedical, an existing investor, and a new institutional investor – CBC Holdings AB that matched the Northwest Fund’s investment.
The company intends to use the funds for the further development and commercialization of its (patent-pending) Low Energy X-ray (LEXR) sterilization technology.
Founded in 2012 by Ed Cappabianca, CEO, EnXray is a development-stage technology company focused on commercializing its proprietary LEXR technology for use in sterilization. Its first target market is the medical device manufacturing industry, where the technology will enable companies to manage and control the sterilization of their products (the final critical step of their production process) on-site & on-demand, providing significant benefits to its customers.
The company also announced that its first prototype unit has been installed at its partner SMS Electronics in Beeston. It is currently being developed into a commercial version for customer demonstrations and validation. EnXray expects to start product sterilization testing for potential customers in Q4 2016.