Rightangled Hits Crowdcube’s £500K Funding Cap!
Rightangled the award-Winning Health Tech company regulated by the Care Quality Commission (CQC), is delighted to announce the success of its recent crowdfunding campaign, created to generate working capital needed to fulfil unprecedented corporate demand for its COVID-19 testing kits.
Initially launched on Friday the 8th of May, the company’s campaign impressively hit its initial funding target of £50,000 within an hour. Such was its popularity that it instantly began overfunding, reaching its £500,00 limit on Tuesday the 19th of May, before closing the next day.
The funds generated will now be used to double the size of Rightangled, including two senior hires, who are due to start work next month, and will oversee marketing and machine learning at the healthcare provider’s London offices. The company will also be establishing a new test category of blood biomarkers to position itself as a hub for screening and diagnostic services for patients and medical practitioners alike. It has also started the process of registering for trade in the US and the Gulf region.
Abdullah Sabyah, CEO and Chairman of Rightangled, said:
“From being seed fund by the West Midlands Academic Health Science Network in 2017, to a highly successful uptake of our PCR lab-based tests for COVID-19 in 2020, Rightangled continues to grow from strength to strength. We have fulfilled bulk orders for clinics, pharmacies, charities and care homes across the UK and are now receiving quote requests for larger orders in the 100s of thousands from large corporations. This is why it was important that we raise the working capital to facilitate the delivery on this demand.
For our next phase, we aim to expand our products, offering a range of blood biomarker tests and will continue our growth, by localising our testing services in multiple countries such as the USA, UAE and Saudi Arabia. We are also looking to launch our app in the near future and create a powerful AI central system to give instant tailored health, diet and fitness advice, based on our users sample results and self-reported health information.”
Media contact: John Bowen