Occuity benefit from Thames Valley Berkshire LEP capital growth funding

Published by

Harry Whittle

Reading-based healthcare start up firm, Occuity, has been awarded £33,910 from the Berkshire Business Capital Grant Fund.

The funds will support the firm's work to manufacture the first product in their line of non-invasive optical screening and monitoring devices, the PM1 Pachymeter.

A pachymeter is a device which measures the thickness of the cornea.

The grant is funded by Thames Valley Berkshire LEP’s Getting Building Fund and will be used to support Occuity’s purchase of equipment required to assemble test stations increase capacity and more efficient quality control in the manufacturing of the world’s first non-contacting optical pachymeter, the PM1.

CEO and Co-founder Dr Dan Daly commented: “I am delighted that Occuity has received the support of Berkshire Business Capital Grant Fund. The grant will allow us to develop seven dedicated test stations which will help us to identify faults early in significantly enhance our production process. This will positively impact revenue generation and the business’ ability to grow profitably.

Since we were founded in 2019, we’ve grown rapidly, and this funding will not only help us bring our first product to market but to continue creating new job opportunities in the Thames Valley Berkshire area and secure the longer-term future for our employees.”

Alison Webster, Chief Executive of Thames Valley Berkshire LEP said: “The investment from the Getting Building Fund to Occuity demonstrates the LEP’s commitment to high growth businesses in Berkshire looking to expand. Occuity demonstrated themselves as an innovative organisation in the life sciences and health sector and we’re looking forward to seeing increased productivity and job creation within the organisation.”

Occuity, which is developing products to screen for, diagnose and monitor major chronic health conditions including diabetes and ultimately Alzheimer’s Disease, recently raised over £2.85million through a Series A investment round in 2021, in doing so became the largest MedTech raise on leading crowdfunding platform Seedrs.

Harry Whittle