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EnXray Raises £2.3 Million to Fund Commercial Expansion

last modified Apr 13, 2017 12:47 PM
Funding for ground breaking Low Energy X-ray (LEXR) sterilisation machine.

ideaSpace South company EnXray Ltd, developers of innovative sterilisation equipment, have recently announced it has raised £2.3 million to support the pre-commercialisation activities, manufacturing and launch of its ground breaking Low Energy X-ray (LEXR) sterilisation machine.  The LEXR equipment enables on-site and on-demand sterilization of medical devices and consumables at the point of manufacture.

EnXray is carrying out initial product sterilization testing with potential customers with its prototype machine and is on track for commercial launch by the last quarter of this year.
 
EnXray has entered into a loan agreement with Finance Birmingham for up to £2 million, as part of the funding support under the AMSCI programme, which is supported by the Department of Business, Energy and Industrial Strategy (BEIS).  In addition, the Company has also raised equity totaling £327,000 as a final closing on its 2016 equity funding round.  The equity funding is in addition to the £800,000 which was announced in October 2016.

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