University of Edinburgh biotech startup OGI Bio has secured £1 million in funding.

The company has developed a new device to automate microbial culturing, improving processing capability, cost effectiveness and data analytics. This increases R&D capability, helping accelerate innovation.

OGI Bio will use the fresh investment to develop its new approach. With the funding, the biotech company will establish a new laboratory and manufacturing facility, grow its team, and ramp up sales of the company’s automation systems to the microbiology and biotechnology sectors.

The investment round was led by TRICAPITAL alongside Apollo Informal Investment, Old College Capital, the University of Edinburgh’s in-house venture investment fund, Sapphire Capital Partners in conjunction with Queen’s University Belfast’s QUBIS Innovation Fund, Merleview (Capital), and Scottish Enterprise.

CEO and co-founder Alex McVey said: “Our aim is to ultimately have one of our devices on the bench of every microbiologist and biotechnologist, enabling them to innovate more productively, flexibly, and sustainably.”

Co-founded by McVey, a physics graduate from the University of Edinburgh and Royal Society of Edinburgh Fellow, and Chief Science Officer Professor Teuta Pilizota, an internationally renowned expert on microbial physiology and Chair of Biophysics at the University of Edinburgh, in 2020, OGI Bio started shipping its first customer orders this year.

The base unit of OGI Bio’s automation system recently received UKCA and other UK and international certifications, which allows the company to market its products in the UK, Europe, and North America.

Also this year, OGI Bio received a SMART Scotland grant via Scottish Enterprise, and additional funding from the Higgs Incubation Centre.

Recommended

• 5 principles of online marketing in a cookie-less world
• Scottish EdTech 448 Studio receives £100,000 investment
• Musk puts Twitter takeover on hold

Pilizota said: “Our products can be used by anyone who is growing microbes like bacteria, yeast, and algae, but we are focusing initially on biotech and microbiology companies, and academic research laboratories who are looking to accelerate their own development with low-cost automation and improved analytical tools.”

OGI Bio was the inaugural winner of the IBioIC biotechnology category at the Scottish EDGE awards in 2020, and was one of the companies selected for Scottish Enterprise’s Unlocking Ambition accelerator in 2020/21.

Moray Martin, Chairman and Managing Partner of The TRICAPITAL Syndicate LLP, said: “OGI Bio has a world-class leadership team, an exciting product that is already achieving commercial success and coherent and realisable plans to extend its product range.

“We are delighted to be supporting Alex, Teuta, and the team through its scale up phase.”

Get the latest news from DIGIT direct to your inbox

Our newsletter covers the latest technology and IT news from Scotland and beyond, as well as in-depth features and exclusive interviews with leading figures and rising stars.

To subscribe, click here.