Edinburgh-based investment syndicate, Archangels, invested more than £13.8m during 2023 in eleven of Scotland’s early-stage tech and life science companies.
The year saw Archangels make two new investments including Bioliberty who secured £2.2M to fund the development of its soft robotic glove and, more recently, 1nhaler who secured £2M to develop its unique dry powder inhaler device.
Other portfolio businesses to receive follow-on funding included Cytomos, Calcivis, Administrate and BioCaptiva.
Co-investors on deals totalling £21.7m during 2023 included British Business Bank, Scottish Enterprise, Par Equity, Mercia and various Scottish angel syndicates. Earlier this year, Archangels bolstered its funding fire power through a £12m co-investment agreement with British Business Investments via its Regional Angels Programme.
As well as funding some of Scotland’s brightest businesses, Archangels also scored a major success for its investors with the acquisition of medical AI company Blackford Analysis by Bayer, a global life science company.
