MedPal AI Plc has raised £5m in a share placing just three months after raising £3m.

The funding will be used to complete the acquisition of Solid State Technologies Ltd, a profitable electronic Medicines Administration Record software business, completing MedPal’s closed-loop care-home medication platform.

It also positions the company to capture the UK launch of the oral GLP-1 weight-loss pill (oral Wegovy), launching in the UK on Monday, through investment in stock and patient acquisition.