clear_pixel VR has secured £378,000 in funding from angel syndicates.
The virtual reality training platform featured on our sister publication TechBlast’s Cardiff Startups 2.0 this week, a list which celebrates under-the-radar tech companies yet to receive VC backing.
The funding was led by Huw Bishop in collaboration with the Development Bank of Wales.
clear_pixel VR is designed to provide early stage professional scientists and students with a safe environment to practise and hone their techniques – in the virtual world.
The VR platform can replicate biomedical science procedures in fields such as electrophysiology, pharmacology and neuroscience.
Founded by Jake Spanswick and Quinn Byron-Dyer, it aims to make lab-based learning and training accessible from anywhere, enabling biomedical science students and those who are in the early stages of their scientific career the opportunity to train from anywhere, at the same time as one another, on different techniques and equipment, as many times as they want and need to.
This innovative approach is expected to improve their skillsets and cut training time of these specialists, and associated costs such as consumable lab waste, by up to 40%.
The completed deal for clear_pixel VR is a milestone in the ongoing relationship between Weightmans and Bishop, with the partners having now completed six deals for five early-stage companies over the last 12 months.
Nick Gray, Weightmans’ principal associate who led on the deal, said: “There’s undoubtedly a wealth of capital and innovation happening across the UK, but these young startups can only make an impact when they’re partnered with equally visionary investors.
“Our role in completing the deal for these two parties, is to not only negotiate the terms of the investment – being sure that both are protected – but to also help in establishing the structure of that relationship, between business and investor, right from the moment that deal completes.
“I can confidently say that we’ve achieved that goal here.”
Bishop, lead investor, added: “My angel investing experience to date has shown me that while there are amazing innovations and talented people out there, you’ll have great difficulty financing them without the right type of partners.
“With support from the likes of Nick and the wider team at Weightmans, we’ve been able to make this deal a reality for clear_pixel VR, which is a concept and business I’m excited to see propelled forwards. Congratulations to Jake and the entire team on making your vision a reality.”
Spanswick said: “We’re extremely thankful to Huw, the team at Weightmans and all of our investors, as well as our staff and scientific partners. We simply wouldn’t be where we are now without them. “Virtual reality is already providing amazing training and engagement benefits to organisations – and our product is set to lead the way within biomedical sciences.
“Having a team behind us that also believes in this vision gives us a great deal of confidence, and with fantastic interest and feedback from around the world, we’re excited to see what the future holds.”