The $7 billion microscope industry is dominated by four companies and is ripe for disruption. ioLight has patented a pocket-sized digital microscope that displays high-resolution images on a mobile phone anywhere from the Amazon to Antarctica at a fraction of the price of the laboratory-based incumbents.
The Hampshire startup has proved its technology by selling 170 units to Bayer, the Eden Project, USDA and Universities such as Cambridge, Berkeley, ETH Zurich and RMIT in Melbourne. These users now carry out their analysis in the field, slashing costs and increasing scientific quality. ioLight is now seeking investors to scale the product to volume markets.
ioLight, creator of the patented folding Magnificent Mobile Microscope, seeks funding for its high-resolution portable digital microscope, at VentureFest South. The company will showcase its innovative technology to investors at the one-day interactive conference being held on March 29 at the Ageas Bowl, Southampton.
When it comes to portable microscopes ioLight is a trailblazer, having cornered the market for high-resolution compact microscopes that can be used anywhere in the world. On-the-spot analysis is an integral part of scientific investigation and important for instant high-resolution results. The ioLight microscope helps users to complete their work efficiently with images and videos viewed on a mobile phone, tablet or computer making them simple to share instantly.
ioLight co-founders Andrew Monk and Richard Williams are disrupting the microscope industry, taking it the way of mobile phones and personal computing, Andrew explains: “The product and market are now validated and we are ready to scale to volume manufacturing and global marketing.”
“Since launching in 2014 ioLight has raised £875k from two crowdfunding rounds and grants to deliver a pilot batch of microscopes. To date, the company has sold 170 of these. With volume production planned, we are now raising funding to deliver low-cost production and to add premium features demanded by current customers. By doing this we will be able to detect malaria and other blood parasites. There hasn’t been a better time to invest.”
Described as ‘awesome’ by The Eden Project and viewed as making ‘all other field microscopes obsolete’ by Bill Manci, president of Fisheries Technology Associates, ioLight is making a name for itself in field science and education, with a microscope that is already being used in The Amazon, Alaska, Antartica and the Kazakh Steppe.
“VentureFest South is the perfect environment in which to meet potential investors and present the opportunity to be a part of a company that is modernising the microscope industry. Having already sold ioLight microscopes around the world, we are offering investors the opportunity to join our established and flourishing company,” concluded Monk.