uFraction8 eyes growth with £3.4 million backing

A biotech engineering firm has secured £3.4 million investment.

uFraction8 has been backed in a multi-organisation funding round led by Foresight Group. 

Bosses at the Falkirk-based operator say the cash will support the next phase of its work on cell and biomass production.

Its funding round also included backing from University of Edinburgh’s venture investment fund Old College Capital, Scottish Enterprise, Alwyn Capital, Thia Ventures and a grant from the Polish Agency for Enterprise Development. 

Co-founded by Dr Brian Miller and Dr Monika Tomecka, uFraction8 employs seven staff at its Scottish base and has a fully-owned subsidiary in Poland.

Dr Tomecka, uFraction8 chief executive, said: “We’re thrilled to have secured this significant investment.

“These funds will ensure we can bring our solutions to market more rapidly, particularly within the microalgae and biopharma sectors.”

Rubina Singh, Foresight Group senior investment manager, said: “We are delighted to be supporting Monika and the uFraction8 team in bringing this breakthrough technology to market.”

Kerry Sharp, Scottish Enterprise director of entrepreneurship and investment, added: “The biotech industry is a key opportunity area for growth for Scotland.

“Companies such as uFraction8 can play a vital role in transforming its economy by scaling up, creating high value jobs and competing internationally.” 

uFraction8 previously secured £2.5 million investment in a funding round led by Thia Ventures. 

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