Successful £2.4m funding round takes Lab901 Limited to the next level

11-Sep-2009 - United Kingdom

Lab901 Limited has successfully raised £2.4 million in equity funding. This latest vote of confidence comes from Lab901's strong consortium of UK investors, comprising Archangel Informal Investment Ltd, Alliance Trust Equity Partners (ATEP), Scottish Enterprise SVF, Foresight 3 VCT plc and TriCapital Ltd.

Lab901 will use the cash injection to expand international sales of its ScreenTape® laboratory analysis platform and further develop its product range. Since launching in 2007, ScreenTape is now sold in more than 20 countries - including S. Korea, S. Africa, Canada, Venezuela , Malaysia and Mexico as well as many European countries - through a network of 16 distribution partners.

Commenting on the latest round of funding, Joel Fearnley, CEO and co-founder of Lab901, said: "Lab901 has an enviable track record with the successful development and commercialisation of the innovative ScreenTape platform and our existing investors have provided the finance we need to support planned global sales growth."

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