Tekcapital PLC (LON:TEK) investee Belluscura has concluded an oversubscribed US$675,000 funding, valuing the whole company at US$5.25mln.
AIM quoted Tekcapital owns 65% of Belluscura following the equity funding.
Belluscura, a specialist in affordable proprietary medical devices, will use the cash as it works to meet regulatory, safety and quality requirements as it seeks CE Mark certification in Europe.
It will also support the start of product manufacturing and initial stocking, as well as support capital as the company seeks the acquisition of further medical device opportunities and general working capital purposes.
Dr Clifford Gross, Tekcapital executive chairman, in a statement said: "We are very pleased to announce the second tranche of the private placement into Belluscura.
“Belluscura's mission is to provide premium, proprietary medical devices at affordable prices."