Endomag secures £15m in Series D funding

Funding | Healthcare | South East | Technology

Endomag, a healthcare technology businesses, has secured £15m in Series D funding.

Endomag’s technologies use non-invasive magnetic sensing to locate and stage breast cancer and have helped over 130,000 women across the world receive more precise and less invasive cancer treatment.

These funds are earmarked for expanding access to new advanced techniques enabled by its products, such as targeted axillary dissection (TAD) and delayed sentinel lymph node biopsy (dSLNB). The funds will also be used to scale its product offering, market reach and employees.

Draper Esprit led this funding round, the largest in the Company’s history, which was supported by existing investors Sussex Place Ventures among others. This investment follows on from Draper Esprit’s initial lead in Endomag’s 2018 Series C round, bringing the Company’s total funding to over £32m.

Commenting on the financing, Endomag’s Chief Executive Officer, Eric Mayes said: “We feel privileged to have maintained our growth while continuing to support hospitals, doctors and their patients during these uncertain times. We’re also fortunate to have investors that recognise our opportunity to lead the market while continuing to make a difference for people living with breast cancer.”

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