Ukrainian invests $615k in British medtech startup

Ukrainian venture syndicate has announced its another investment to AIN.Capital. This time, the syndicate invested $615,000 in, UK’s marketplace for self-pay MRI scans. The investment will accelerate its expansion into the US market.

  • Founded in 2017 by Dr. Khalid Latief, Mark Nissim, Charlie Bullock, Oliver Knight, and Joe Daniels, is an online platform that helps users compare, view, and book medical scanning services. team consists of 45 people and builds the infrastructure to seamlessly connect doctors and patients with medical imaging centers in the UK and US.

“American healthcare system is fraught with insurance roadblocks, poor provider-to-patient communication, and logistical nightmares. This can make getting the medical care you need feel frustrating, exhausting, or impossible; medical imaging is no exception. That’s not the way it should be, and wants to change it,” commented.
  • The total investment round is $50 million and is supported by UK’s Aviva Ventures funds, Triple Point, and Oxford Capital, as well as French YZR, which have already agreed to provide $46 million of the $50 million required for the transaction.

The fresh investment will be used for:

  • creating financial synergies to achieve $50 million net ARR in 3 years;
  • strengthening with medical assets (scanning equipment) to enable further research and product development;
  • increasing sales and income approximately 3 times — from $7.7 million to $21 million by the end of 2024.

AIN.Capital reminds that recently invested £510,000 in Gin, a British company for the production of electric bicycles with a Ukrainian co-founder.