ioLight Launches Second Crowdcube Campaign: Seeks £250,000 For Growth & Expansion

Less than two years after securing £242,180 from 249 investors through its campaign on Crowdcube, ioLight has launched its second initiative on the equity crowdfunding platform and is currently seeking £250,000.

As previously reported, ioLight was founded in 2014 by Andrew Monk and Richard Williams. The company is the maker of a high-resolution portable microscope that displays images directly on tablets or smartphones. The microscope is considered among the first of its kind in the UK and delivers a resolution of better than 1μm. Among ioLight’s customers are Crowdcube fellow alum, The Eden Project, along with universities, schools, vets, pathologists, and micro-engineering companies. ioLight noted that the microscopes are priced at £700, with gross margins of 55-70% depending on sales commission.

The company revealed:

Good science relies on making primary measurements on samples in their environment. Yet for years scientists have had to collect samples in the field and take them back to a lab microscope for analysis. The ioLight microscope solves this problem capturing beautiful high-resolution images onto a tablet or phone anywhere. As well as improving the quality of science, it saves the cost and time of returning to site to collect better samples.”

Funds from ioLight’s second campaign will be used for recruit sales and admin people; sales and marketing PR and exhibitions; product development to increase sales. The initiative is set to close at the beginning of March.

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