Alesi Surgical, a Cardiff-based developer of medical equipment, has raised €6m (£5.2m) in new funding (Insider Media, 2017).

The investment has been provided by two European venture capital firms specialising in medical technology, Panakes Partners and Earlybird, together with continued support from existing shareholders IP Group plc and Finance Wales.

The funding will support the commercial expansion of Alesi Surgical, and its Ultravision device, in the US and other international markets. It will also be used to undertake additional research and development of the new Ultravision technology. The device produces a low energy electrostatic charge and is designed to improve visibility for surgeons by eliminating surgical smoke.

Alesi Surgical has also appointed three new directors, including Phil Cooper, who was previously president at Molnlycke Healthcare.

As part of the investment, Thom Rasche, partner at Earlybird and previously vice president Europe of Ethicon Endosurgery, and Alessio Beverina, founding partner at Panakes Partners, will both join the board as investor directors.

Dominic Griffiths, managing director of Alesi Surgical, said “Earlybird and Panakes are two highly respected European venture capital companies and in such a competitive funding environment their interest in Alesi and Ultravision speaks volumes for our potential. With the three new additions to the board we have expanded our expertise in this market and having four corporate investors places us in a strong position for future growth.”