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127%
Raised
£319,750
Investors
333
Target
£250,000
Equity
15.45%
Pre-money valuation
£1,750,000

ioLight makes laboratory grade microscopes that fit in your pocket. Since a successful Crowdcube raise in 2015, the product launched in July 2016 with over 40 units already sold to customers including The Eden Project, Bayer and the University of Cambridge.

  • Targeting £100k revenue in 2017, with over £30k sold so far
  • Patent filed in March 2014
  • Over £400k funding received to date, including equity and awards
  • Combining optics with iPhones, images compare to lab equipment
Information In response to investor feedback, the company has increased the equity on offer with the valuation lowering from £2 million to £1.75 million. The pitch has been extended for two weeks and will now expire at midnight on the 24th March.

Idea

ioLight investment video. Meet the founders and the Magnificent Mobile Microscope. Find out how we are changing science and education and how you can become part of the ioLight success story.

ioLight makes laboratory grade microscopes that fit in your pocket.

Good science relies on making primary measurements on samples in their environment. Yet for years scientists have had to collect samples in the field and take them back to a lab microscope for analysis. The ioLight microscope solves this problem capturing beautiful high-resolution images onto a tablet or phone anywhere. As well as improving the quality of science, it saves the cost and time of returning to site to collect better samples.

ioLight was incorporated in February 2014. Founders Andrew Monk and Richard Williams filed a patent application in March 2014. In 2015 the company raised a total of £400k in equity funding from a seed round and a Crowdcube round. The product was launched in July 2016 and sold over 30 units for £20k by the end of 2016.

Customers include The Eden Project; universities; schools, vets, pathologists and micro-engineering companies.

In an evaluation by the Quekett Microscopical Club, ioLight’s images were comparable with those from a lab microscope.

The Eden Project has bought ioLight microscopes and says they are “awesome”.

Cambridge University says “it produces high-quality images for rapid and high-resolution inspection of many samples, and is extremely convenient to use.”

Bayer Animal Health invited ioLight to exhibit on its stand at the London Vet Show.

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Risk warning

Investments of this nature carry risks to your capital, including illiquidity, lack of dividends and dilution. Balance risk with a diversified portfolio. Read more. Approved as a financial promotion by Crowdcube Capital Limited, which is authorised and regulated by the Financial Conduct Authority.

Investment opportunities are not offers to the public and investors must be eligible Crowdcube members. Further restrictions and Crowdcube's limitation of liability are set out in the Investor Terms and Conditions. Please seek independent advice as required as Crowdcube does not give investment or tax advice.

Iolight has been given advance assurance by HMRC that the proposed share issue is likely to qualify for Enterprise Investment Scheme (EIS) tax relief.

Tax relief is available to individuals only, with income tax relief currently set at 30 per cent of the cost of the shares for the tax year in which the investment was made. The tax reliefs can also reduce your Capital Gains Tax bill. Read More.

Availability of tax relief depends on your individual and the company’s ongoing circumstances and applicable law.