Cirdan funding news – Cirdan Raises £7.5 Milllion in Funding

IFNI's Clarendon Fund Managers, overseeing the equity portion of the £70 million fund, spearheaded the deal. Noteworthy investments in UK startups like Perlego and Univa Health reinforce the momentum.

Cirdan! Securing £5 million in funding from 57 Stars and an additional £2.5 million from IFNI is set to propel the company forward. The substantial investment will enhance delivery capabilities, expand the specialist team, and drive innovation in product offerings. Notably, IFNI's £2.5 million injection marks its largest equity investment to date, totaling £5.5 million from the IFNI Equity fund.

Read also - Harmonic Security funding news – London-based Harmonic Security Raises $17.5Million in Series A Round Funding

This funding will fuel the next phase of growth for Cirdan, facilitating operational scalability and market expansion. The company is poised for global outreach, building upon its current presence in Northern Ireland, the US, and Australia. An exciting journey lies ahead as Cirdan prepares to unlock new opportunities and reach greater heights in the industry.

Introducing ULTRA LIS, their next-generation Laboratory Information System designed to streamline operations and improve efficiency across various clinical settings. From small, single-site labs to large, multi-site, multi-disciplinary laboratories, ULTRA LIS scales seamlessly to meet diverse needs. Their software and imaging solutions enhance and expedite disease diagnosis.

Cirdan CEO Hugh Cormican said: “The backing of 57 Stars and the Investment Fund for Northern Ireland is a testament to the value and potential of our technology. With their support, we are confident in our ability to scale our solutions globally and make a significant impact in the healthcare sector, ultimately improving patient care and outcomes.”

Clarendon Fund Managers Investment Director Neil Simms said: “Cirdan is a shining example of the innovation and expertise that Northern Ireland has to offer. We are proud to support their continued expansion, which will not only strengthen the local economy but also improve healthcare systems worldwide.”

Managing Director of 57 Stars Bernard McGuire added: “Cirdan’s innovative technology is transforming the way critical diagnostic procedures are performed, and we are excited to support their journey toward becoming a global leader in pathology diagnostics and informatics. This partnership aligns with our strategy of investing in companies that harness technology to solve complex challenges in high-growth sectors.”

Mark Sterritt, British Business Bank Director of Nations and Regions Investment Funds said: “Cirdan is an excellent example of the highly innovative businesses we have in Northern Ireland who are really excelling in the life sciences sector. The work Cirdan is doing has the real potential to revolutionise the speed of patient diagnosis, reducing the waiting time for treatment and ultimately easing the burden on health systems. This equity investment, which was led by Clarendon Fund Managers, is exactly the sort of deal the Investment Fund for Northern Ireland was introduced for.”

About Cirdan

Cirdan is a leading provider of innovative software and imaging solutions tailored to accelerate and improve diagnosis processes. Their flagship product, ULTRA, a top-tier Laboratory Information System, is renowned for optimizing laboratory operations globally, with installations in over 72 laboratories spanning 6 continents. Additionally, Cirdan offers the PathLite Compact system, catering to gross imaging requirements in clinical laboratory settings.