“Bactest has turned to Cambridge based crowdfunding platform SyndicateRoom to further bolster its war chest.
Bactest’s management, led by CEO Annie Brooking, originally set out to raise £450,000 from existing shareholders and new investors, including the Low Carbon Innovation Fund, Angel CoFund and numerous angels including Patrick Deane and Graeme Porteous. It promptly raised the full sum and flew all the way up to the initial overfunding limit of £600,000.
The board has authorised a round extension of £250,000 due to the demand for shares at this £4.29m pre-money valuation. These funds will be used to grow the business over the next few years, and as part of this extension, it has opened up the round to SyndicateRoom members. So far the total haul raised is £703,780.”