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Tekcapital portfolio stalwart Belluscura raises US$1.6mln

A medical equipment specialist, Belluscura had intended to float on AIM last year
Belluscura specialises in medical equipment

Tekcapital PLC's (LON:TEK) portfolio company Belluscura PLC has raised US$1.33mln in a placing with a further US$268,000 coming in from a loan conversion.

Intellectual property specialist Tekcapital invested US$250,000 in the private placement and converted US$210,090 into equity to take its direct stake to about 39%.

READ: Tekcapital's augmented reality company Lucyd to close token sale next month

The placing was priced at US$0.18(13p) per share, giving Belluscura a post-money valuation of approximately US$3.7mln.

A medical equipment specialist, Belluscura had intended to float on AIM last year but was thwarted by tricky market conditions at the time.

Established in 2015, Belluscura has so far launched three products with two more in development.

READ: Tekcapital says investee company Belluscura decides not to proceed with planned AIM float

Money raised this time will go on the CURV oxygen concentrator and Snap III level of consciousness monitor.

Bob Rauker, Belluscura’s chief executive, said: “The funds will allow Belluscura to continue with its mission to provide premium, proprietary medical devices at affordable prices."

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