Insider Brief
- Cerca Magnetics, a University of Nottingham spinout developing wearable quantum brain scanners, has raised £3.8 million ($4.75 million) in Series A funding led by Guinness Ventures at a £30 million post-money valuation to support clinical approval, manufacturing scale-up, and international expansion.
- The company’s magnetoencephalography system uses optically pumped magnetometers as lightweight wearable sensors to detect magnetic fields from brain electrical activity, replacing traditional fixed scanners and enabling natural patient movement during scans including brain imaging on infants for the first time.
- Cerca Magnetics has sold 19 systems to neuroscience centres in 12 countries with over 100 percent annual sales growth over the past three years, with applications in epilepsy, multiple sclerosis, and dementia research, and is progressing through clinical approval pathways in the UK and United States.
PRESS RELEASE — Cerca Magnetics, a UK-based quantum brain scanner developer, has raised £3.8 million ($4.75 million) in Series A funding at a £30 million post-money valuation to expand into clinical healthcare markets.
The round was led by Guinness Ventures.
A spinout from the University of Nottingham School of Physics and Astronomy, Cerca Magnetics has developed a wearable brain scanner that uses quantum sensors to measure neural activity with high precision. The funding will support clinical approval, manufacturing scale-up and international expansion.
Its system is based on magnetoencephalography, which detects tiny magnetic fields generated by electrical activity in the brain. Cerca Magnetics replaces traditional fixed scanners with lightweight wearable sensors known as optically pumped magnetometers. These let patients move naturally during scans, allowing brain imaging on infants for the first time. This makes the benefits of brain imaging significantly more accessible to children.
The Cerca Magnetics technology is being applied to conditions including epilepsy, multiple sclerosis and dementia. It is progressing through clinical approval pathways in the UK and the United States.
The company has sold 19 systems to neuroscience centres in 12 countries, including leading institutions in North America, Europe, Asia and Australasia. Cerca Magnetics has delivered annual sales growth of more than 100 per cent over the past three years.
Customers include The Hospital for Sick Children (SickKids), Toronto, where researchers are using the system to study autism; and a £2.8 million UK Ministry of Defence project to develop a mobile platform for assessing the effects of blast exposure on military personnel.
David Woolger, Chief Executive Officer and co-founder of Cerca Magnetics, said:
“This investment enables us to move decisively into clinical applications, scaling our technology for routine use in hospitals in the UK and internationally. Our goal is to make advanced brain imaging more accessible, supporting earlier diagnosis and better treatment of neurological conditions.”
Ashley Abrahams, Head of Origination, Guinness Ventures, said: “Cerca Magnetics is addressing a clear unmet need in brain imaging with a technology that combines scientific depth with affordable real-world usability. We believe the company is well positioned to become a global leader in next-generation neuroimaging and are pleased to back David and the team on the next stage of Cerca’s already impressive journey.”
