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Draper Esprit leads Endomag’s £15m round

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Draper Esprit is pleased to have led in Endomag’s latest round of funding, yielding £15m from existing investors. Draper Esprit invested in Endomag’s previous round in July 2018.

Endomag uses magnetic sensing for minimally-invasive surgical guidance to ensure cancer can be targeted and removed more accurately. Their products address unmet clinical needs in availability, workflow efficiency and surgical accuracy to provide a better experience for patients with breast cancer.

The funding brings the company’s total funding to over £32m and will be used to develop new technologies and continue expansion in the US, Europe and in the UK.

Dr. Eric Mayes, CEO at Endomag commented:

“We feel privileged to have maintained our growth while continuing to support hospitals, doctors and their patients during these uncertain times. We’re also fortunate to have investors that recognise our opportunity to lead the market while continuing to make a difference for people living with breast cancer.”

David Cummings, Venture Partner at Draper Esprit, commented:

“Investing in visionary companies like Endomag is proof of the value of Draper Esprit's publicly listed venture capital model - the capital we raise from public investors is put to work supporting the long-term growth of rapidly scaling technology businesses. We were proud to lead Endomag's raise in 2018 and we're delighted to lead this round, continuing our support. It's been a privilege to back Eric and his team on its incredible mission to improve the standard of cancer care the world over and we look forward to working with him in the future,”

Read more about the round here.