ReadyGo boosts innovation with £500K investment
Deal News | Mar 06, 2025 | Business Cloud
ReadyGo Diagnostics, a medical device company based in Bath, UK, has secured £500,000 from the British Business Bank's South West Investment Fund through fund manager Maven Capital Partners. Since its inception in 2016, ReadyGo has been at the forefront of developing innovative diagnostic tools for point-of-care and laboratory use. The funding will enable ReadyGo to invest in product development, enhance commercial partnerships, and expand its team. ReadyGo's SnapCollect device streamlines sample collection and preparation, providing a cost-effective and reliable alternative to traditional sampling methods. The company's pioneering products are drawing considerable interest from leading pharmaceutical and diagnostic firms. ReadyGo aims to use the investment to drive innovation and growth within the South West region, targeting 2025 as a breakthrough year for its commercialization efforts.
Sectors
- Medical Devices
- Venture Capital
Geography
- United Kingdom – ReadyGo Diagnostics is based in Bath, and the investment comes from a UK-based fund, relevant for local economic growth.
- South West England – The South West Investment Fund targets businesses in this region, emphasizing regional economic development.
Industry
- Medical Devices – ReadyGo Diagnostics operates within the medical devices industry, developing diagnostic tools and systems for healthcare applications.
- Venture Capital – Maven Capital Partners' involvement signifies the venture capital industry's role in funding innovative startups like ReadyGo.
Financials
- £500,000 – The amount raised by ReadyGo Diagnostics from the South West Investment Fund.
- £150,000 to £5m – Range of funding Maven Capital Partners can provide for early-stage and established businesses.
- £25,000 to £2m (loans); up to £5m (equity) – The commercial finance options available from the South West Investment Fund.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| ReadyGo Diagnostics | Target Company | Company | A Bath-based medical device firm specializing in diagnostic tests and tools. |
| Maven Capital Partners | Fund Manager | Company | Manages the South West Investment Fund, providing capital to innovative businesses. |
| British Business Bank | Funding Provider | Government | Provides the South West Investment Fund, aimed at fostering regional economic growth. |
| Dr. Ben Cobb | CEO | Person | CEO of ReadyGo Diagnostics, driving innovation in diagnostic products. |
| Elaine Warburton OBE | Chair | Person | Chair of ReadyGo Diagnostics and a notable healthcare entrepreneur. |
| Paul Jones | Senior Investment Manager | Person | Representative of the British Business Bank, emphasizing ReadyGo's innovation. |
| Allie Lindsay | Investment Director | Person | Investment Director at Maven Capital Partners, supporting ReadyGo's growth. |