April '08 - Babybond Ltd secures early stage venture capital.

April An all equity deal has been secured by Babybond Ltd to enable development of a unique web system for ultrasound scan services.

The investors involved are the East Midlands Early Growth Fund managed by E-Synergy, East Midlands Business Angels and Venture Investment Partners. The funding round, which was oversubscribed, raised in excess of £200,000.

The investors backed the company for a number of reasons, including its successful combination of fantastic customer service with sound business judgement and ethics. Mike Piper, of Venture Investment Partners, joins the board as Chairman and Kevin Harrington MD, MRCPI, MRCOG as Medical advisor to the Board.

The Babybond Group, comprised of wholly owned direct and franchised outlets, currently has 18 clinics across the UK from London to Glasgow and Newcastle to Cardiff. The group is dedicated to opening many more more within the next few years.

As Babybond Ltd. is already profitable, the company could have self-financed its expansion, but venture capital funding will enable the business to achieve its aims much more quickly.
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