A Bristol company that has developed technology to identify harmful bacteria quickly and cheaply has received financial backing from eight of the city’s entrepreneurs.
FluoretiQ, which is based at tech hub incubator Unit DX in St Philips, is a two-year old business using novel technology to identify bacterial infections in hospitals, clinics and care homes.
The technology can reduce clinical decision-making time from 48 hours to 15 minutes, according to the firm.
FluoretiQ has not disclosed how much money it has received but sourced some of the financial support through Bristol Private Equity Club.
Chief executive Neciah Dorh, who has a PhD in nanophotonics and a background in fluorescence technologies for bio-sensing, says the money will help the company "push forward" with its growth plans.
He said: We are passionate about our research and development and have invested in building the team we need to deliver this technology to people all over the world.
“We have always worked closely in collaboration with the University of Bristol and to now have other Bristol-based entrepreneurs recognising the potential of FluoretiQ is a huge boost and encouragement to us as a business.”
The company is currently working on a solution for urinary tract infections, which it hopes will reduce recurrent GP visits, hospitalisation and unnecessary prescription of antibiotics.
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Jerry Barnes, founder of Bristol Private Equity Club, said: “Bristol is fast gaining a reputation for the number of companies like FluoretiQ that are using emerging technology to make a real difference to the world.
“We have 80 successful entrepreneurs and business people with capital in the club. They all want to support fast growing and successful businesses and to share the expertise and lessons they have learned over the years with those at the leading edge of development.”
Bristol Private Equity Club has invested a total of £6million in 19 businesses over the past three years.
FluoretiQ was developed with venture capital from Deepbridge Capital.