OR Productivity plc (ORP), the Guildford-based developer of innovative products for ‘minimally invasive’ medicine has closed the first £1m of a £2.5m round of funding for the roll-out of its FreeHand surgeon-controlled camera holder. The FreeHand makes it possible for surgeons to perform keyhole surgery procedures more quickly, at lower cost and often with faster post-operative recovery, by giving them a clearer and more stable view of what they are doing.
The £1m was raised mainly from existing shareholders, including £350K from the AngelCoFund, following its original £500K investment in 2012. ORP is in discussion with other individuals and funds with a view to closing, over the next few months, the remaining £1.5m it is looking for to complete its commercial roll-out. The Angel CoFund will also participate in that part of the round, increasing its total investment in ORP to £1m.
Read the full press release on Fieldhouse Associates' website here