A British company developing portable brain scanners using quantum technology has closed a €4.3 million funding round. Cerca Magnetics, based in Nottingham, raised the Series A capital at a €34.5 million valuation. The round was led by Guinness Ventures, with additional support from existing investors. The company plans to use the funds to enter clinical markets and expand production of its wearable imaging systems.
Cerca Magnetics specializes in quantum sensing for medical devices. Its technology enables brain activity monitoring without bulky equipment. Current brain imaging methods rely on large machines like MRI scanners, which limit patient mobility and accessibility. The startup’s devices use atomic magnetometers to detect magnetic fields from brain activity, offering a portable alternative.
The funding round values the company at €34.5 million after the investment. Cerca Magnetics previously raised seed funding in 2022. Its brain imaging systems target hospitals and research centers. The company aims to make brain monitoring more accessible for conditions like epilepsy and traumatic brain injury.
Guinness Ventures led the round, with participation from Parkwalk Advisors and Midven. The investment follows growing interest in quantum technologies for healthcare. Cerca Magnetics plans to hire additional staff and accelerate clinical trials.
Source: eu-startups.com