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Siloton Announces c.£470k investment round

A combination of institutional investors and value-add angels contributed to the

first closing of Siloton’s investment round.


BRISTOL, England (March 2022) - Siloton Limited, a revolutionary new deep-tech startup, has announced the first closing of its investment round, totalling c.£470k.


The funds will be used to further develop Siloton’s diagnostic imaging technology. By harnessing the power of photonic integrated circuits (PICs), this is set to revolutionise the way in which patients with eye disease interact with ophthalmology services. In addition to attaining key technology milestones, Siloton will seek to form partnerships with key stakeholders and members of the global supply chain.


Exec Team Photo - Left to Right: Euan Allen (CTO), Alasdair Price (CEO), Ben Hunt (CCO) standing in the Siloton Lab at QTIC, One Cathedral Square, Bristol.
L-R: Euan Allen (CTO), Alasdair Price (CEO), Ben Hunt (CCO)

The round was led by Quantum Exponential Group PLC and Evenlode Impact who invests to build a diversified start-up portfolio for the Evenlode Foundation. Alongside institutional investment were value-added angel investors including Michael Tibbets,

Zbigniew Łukasiak, Nick Holzherr, Grzegorz Jakacki, Priyanka Mandal, and Darshak Shah.



Dr Alasdair Price, CEO of Siloton, commented that “The closing of Siloton’s first round of investment represents a new chapter in the company's history. We have a strong management team with world-leading technical know-how. This knowledge is complemented by the considerable expertise contained within our investor base; including clinical, sector, and commercial experts. We are all deeply excited to begin working together and building a compelling product for patients with age-related macular degeneration“.



At the core of Siloton’s innovation is an emerging technology called Photonic Integrated Circuits or PICs. Dr Euan Allen, CTO, explains that “PICs mean we can reduce the size of these integrated diagnostic systems by 10x, while at the same time making them extremely robust to accidental damage. This size reduction also facilitates the human factors driven design of ergonomic patient-centric systems, unlike in the traditional approach which is often constrained by bulky and fragile components”.


Cathy Yelf, Chief Executive of the Macular Society stated that “Macular disease is the leading cause of sight loss in the UK, with more and more people being diagnosed every day. The technology that Siloton is developing could make a huge difference to the lives of patients, so we are very pleased to hear that the team have closed their first round of investment. The Macular Society stands ready to support the development of this exciting technology by providing access to vital patient perspectives.”


Limited capacity remains for further investment in Siloton within this round. Any investors interested in learning more about Siloton are encouraged to contact Dr Ben Hunt, Chief Commercial Officer, using investors@siloton.com


Photonic Integrated Circuit, as used in Siloton’s revolutionary new medical device
Photonic Integrated Circuit, as used in Siloton’s revolutionary new medical device

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About Siloton

Siloton is developing an at-home monitoring service for the 25% of over 60’s with age-related macular degeneration. This service will reduce the burden of treatment, alleviating pressure on healthcare systems, while helping patients retain their sight for longer. Siloton’s service will combine a next-generation diagnostic imaging device with cloud-based digital health tools that will enable clinicians to deliver an unparalleled quality of care to their patients.


Siloton was founded in April 2020 in Bristol, UK and is an alumnus of the Quantum Technologies Enterprise Centre (QTEC)incubator programme. At the core of Siloton’s new generation of diagnostic imaging device is a photonic integrated circuit (PIC) that allows Siloton to realise order of magnitude reductions in size and cost while increasing device robustness.


To find out more, visit www.siloton.com or follow updates on Siloton’s LinkedIn page.


Contact

For press enquiries, please contact pressoffice@siloton.com.

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The Quantum Technology Enterprise Centre is an EPSRC funded Skills and Training Hub based out of the University of Bristol which is part of the UK's National Quantum Technology Programme and based out of:

QTIC, 1 Cathedral Square, Trinity Street, College Green, Bristol BS1 5DD

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