Acuity Law Advises Bond Digital Health On Its Latest Investment Round
Key Contact: Tom Saunderson
Acuity’s Corporate team, led by Tom Saunderson with support from Joe Smith, is pleased to have advised Bond Digital Health, a pioneering Cardiff-headquartered medtech company, in relation to a further equity funding round totalling £1m. This included an equity investment of £350,000 from the Development Bank of Wales, with the remainder coming from Wealth Club, the high-net-worth investment service (which included investments from the company’s CEO, Ian Smith, and its chair, Wayne Harvey).
This follows on from the almost £2 million in equity funding raised by Bond Digital Health last year with support from Acuity, which allowed Bond to expand its development team and bring its key product, Transform®, to market. Transform® is a data management platform which collects, stores and shares data from lateral flow diagnostic tests, the same type of rapid tests that are being widely used in the COVID-19 pandemic.
The new funding will be used to expand the team over the next year, including a new customer success team and additional resources in the sales, marketing and product development teams. Ian Smith, CEO, said “This has been another important year of growth and development for Bond Digital Health. Now that we have several international customers signed up to our platform, we need to make sure we successfully service their needs 24/7. This funding will help us do that by ensuring we have the right people in the right roles. I’d like to put on record my thanks to the Development Bank of Wales and Wealth Club for helping us get to this point.”
Senior Associate Tom Saunderson heads up a large portfolio of fast-growth corporate clients and has considerable experience of working with growth companies from early-stage funding through to exit, with a particular interest in technology-backed ventures.
For further information, get in touch with our award-winning Corporate team.