Seed funding for health-tech start-up

The client: Siloton

Siloton’s goal is to revolutionise health care with advanced photonics.

They are developing photonic integrated circuits (PICs) - delivering remote monitoring technology for patients with age-related macular degeneration (AMD), which can cause sight loss. The Siloton technology allows imaging to be performed remotely, rather than at ophthalmology clinics. This results in disease progression being picked up more quickly, resulting in faster treatments and improving clinical outcomes.

How we’ve helped:

As well as being a member of SETSquared, Siloton is an alumnus of QTEC (Quantum Technology Enterprise Centre) Bristol, a deep-tech specialist incubator whose members we have supported over the years (see also KETS, QLM, Actuation Labs).

We recently helped them close their first investment round of £470k. The round was led by venture capital investors Quantum Exponential Group PLC and Evenlode Impact.

The funds will be used to further develop Siloton’s imaging technology, as well as to build partnerships with key stakeholders and members of the global supply chain.

With early stage funding, it’s incredibly important that the investment is done properly to avoid problems in the future. A key issue is to ensure the relationship with external investors and the founders’ long-term goals are properly aligned from the start.

So best advice is required but the budget for lawyers is limited.

We solve this problem by investing a lot of time - ensuring we fully understand the business and the long-term goals of the founders. This allows us to work out what advice is required, when it is most needed and how we can tailor a solution specifically to the client and its budget. This also means we can stick to the budget, so that there are no surprises on fees.

Whilst our solution is marginally more expensive than some of the packaged services available from other law firms and online platforms, we believe the time we invest makes the value incomparable.

We invest the time to help the business succeed, hopefully leading to a long-term relationship.