BGF invests £1.6m in Scottish med-tech firm Aiber
BGF has today completed a £1.6 million investment in Aiber, a Scottish med-tech firm, headquartered in Inverness.
This completes a £2m fundraising round, with existing investors Scottish Enterprise and Equity Gap also participating.
Aiber, the trading name of MIME Technologies ltd, is a proprietary first aid software product with onboard kit, designed to support medical emergencies in environments remote from professional medical care.
The technology was developed with input from two of the world’s leading airlines and is suitable for use on commercial airlines, business jets and onboard vessels. Providing an end-to-end connection with medical services, it is specifically designed for use by non-medical professionals like cabin crew, allowing for more informed decisions about a wide range of medical events from burns and allergic reactions to potential heart complaints.
The product will initially be rolled out in the aviation and maritime sectors, where several high-profile direct sales and channel partner trials are underway in Europe and the US. With one diversion costing an airline anything from £25,000 to £500,000, improving medical outcomes in the sky alone has positive implications for both passenger wellbeing, safety and overall efficiency.
This new funding will help the award-winning company, which was originally spun out from the University of Aberdeen, and has offices in Inverness and Edinburgh, further roll out its product to customers in the aviation and maritime sectors.
Aiber’s huge potential and ability to align and support existing first aid training was further highlighted when the company participated in the prestigious ATI Boeing Accelerator Programme in 2021.
As well as providing direct investment, BGF’s Talent Network, the UK’s largest pool of non-executive directors, has introduced Tony Davis to the company. An aviation sector expert and former CEO of bmibaby and Tiger Airways, Davis will join as a non-executive director.
Anne Roberts, co-founder and chief executive of Aiber, said: “As we continue to scale Aiber and its affordable one-touch technology, this investment will allow us to accelerate the roll out of our potentially life-saving solution to more customers in our target sectors. Whether in the air or at sea, a medical event in these situations can be incredibly stressful and isolating for those tasked with responding, and we are confident Aiber can reduce the burden and improve passenger health outcomes.”
Keith Barclay, investor at BGF, commented: “We are pleased to complete this investment at an exciting moment of growth for Aiber. The company’s pioneering med-tech software product has a significant addressable market, and we look forward to supporting their push into new areas. It has also been hugely positive to introduce Tony Davis to the company as part of our investment process to support with the growth journey.”
Kerry Sharp, director of growth investments at Scottish Enterprise, said: “Supporting innovative companies, like Aiber, to progress ground-breaking medical technology is a priority for Scottish Enterprise and we look forward to continuing our support as the company and its customers grow.”