Cardiff Medtech Firm IQ Endoscopes Secures Major Investment for Growth
Cardiff-based medical device company IQ Endoscopes has received a significant boost with a multi-million-pound equity investment round, aimed at accelerating its commercialisation efforts and supporting future expansion. The funding is led by growth capital investor BGF, with additional follow-on investment from the Development Bank of Wales.
Driving Innovation in Gastrointestinal Endoscopy
IQ Endoscopes is developing a single-use gastrointestinal endoscopy platform designed to improve patient access to endoscopy procedures and help healthcare providers manage increasing demand. The company's technology offers a sustainable alternative to traditional reusable endoscopes, which often involve complex decontamination and transport processes that contribute to carbon emissions and hospital workflow inefficiencies.
By providing a disposable solution, IQ Endoscopes aims to free up hospital beds and physician capacity, addressing critical capacity constraints within healthcare systems.
Strategic Use of Investment Funds
The new funding will be utilised to support several key initiatives:
- Early commercial rollout in selected UK healthcare centres
- Strengthening manufacturing and supply chain capabilities
- Building a robust commercial pipeline for future scale-up
- Supporting further regulatory work and market validation in the United States
Since its establishment, IQ Endoscopes has secured important regulatory approvals, commenced production, identified initial customers, and received early orders. The company currently employs 20 people and is preparing for the early commercial use of its platform.
Leadership Perspectives on the Investment
Matt Ginn, Chief Executive of IQ Endoscopes, commented: "This investment represents a significant step forward as we enter the next phase of our growth journey. It enables us to begin early commercial deployment in the UK, strengthen our operational foundations, and build momentum for future expansion. The support from BGF and the Development Bank of Wales has been instrumental in reaching this milestone, and we look forward to continuing our collaboration as we bring our technology into real-world clinical applications."
Maggy Lau, Investor at BGF, added: "IQ Endoscopes is tackling a clear challenge facing healthcare systems with a product that has the potential to create lasting positive impact. We are pleased to continue supporting Matt and his team as the business moves into this exciting next stage of development."
Tom Davies, Investment Executive with the Development Bank of Wales, stated: "We are proud to continue backing IQ Endoscopes as it enters its next growth phase. The team's progress in manufacturing and early clinical implementation is impressive, and this investment will help accelerate the adoption of technology that could enhance patient access and strengthen endoscopy services across the NHS and beyond."
The exact value of the funding round has not been disclosed, but it represents a substantial investment in the company's future growth and market penetration.
