Forth, a UK company focused on personalised biomarker tracking, has attracted £1.6m (US$2.2m) in a second round of funding from a consortium of UK and overseas investors including Australia-listed, Melbourne-based Trajan Group, a global developer and manufacturer of analytical and life sciences products and devices. Trajan has entered into a binding agreement to secure equity and a board position in Humankind Ventures, which trades as Forth.
Kayte Parlevliet, Trajan’s General Manager – Separation Science Business Unit, based in the UK, will sit on the Humankind Ventures Board providing an opportunity to explore future collaboration with Forth.
The equity investment by Trajan of £705,002 results in the issue of 235,298 new preferred ordinary shares giving Trajan a percentage of the share capital as follows: 9.55% non-diluted, 8.41% fully diluted, 9.85% voting.
The Development Bank of Wales has also supported the funding with follow-on equity of £250,000 bringing its total investment to date to £500,000
With the investment, Forth seeks to capitalise on the growth in the female science and technology market, while for Trajan, the transaction supports its strategy towards health technology that interfaces directly with the consumer.
Forth CEO and co-founder Sarah Bolt said “more and more people are realising that understanding and measuring your body’s biochemistry is key for a long and healthy life. This investment will enable us to launch Female Hormone Mapping and also develop more unique and insightful products to help people engage proactively with their health.”