Biosite Receives £4M in Financing

biositeBiosite, a Solihull, UK-based provider of biometric access control and software-based workforce management solutions for the construction sector, received £4m in growth financing.

Mobeus Equity Partners provided the capital.

The company intends to use the funds for the expansion of the team to facilitate the development of new site-management tools which will enable site managers to oversee all aspects of a construction project under their control.

Founded in 2010 and led by Managing Director Dr Li Wang and Research Director Dr Greg Reynolds, Biosite has developed a fingerprint algorithm which works with low grade fingerprints (a feature of the construction industry) to provide access control for workers coming on site.
Around this, the company has developed a software system that allows customers to utilize the data collected from the access control platform to manage their workforce as well as providing broader security services including integrated CCTV, fire alarms and guarding.
The company serves works with a number of the largest construction firms in the UK including Wates, Bouygues, Willmott Dixon and BAM Construction.

In conjunction with the funding, Amit Hindocha from Mobeus will join the board of Biosite. Mobeus has also introduced Mark Roberts, former CEO of CSC, as non-executive Chairman.

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