Freeths advises Northern Gritstone on investment in Mimetrik Solutions Limited
Freeths are delighted to have advised Northern Gritstone on its £2 million seed funding round in Mimetrik Solutions Limited, the developer of AI-driven digital dentistry products.
Mimetrik has developed 3D-scanning technology that uses machine learning to generate fully digitised images of a patient’s dentition and facial structure. Its aim is to create a full ‘digital pathway’ between dental labs and clinicians for the benefit of patients, replacing the costly, time-intensive current approach of creating physical models of each patient’s dentition, enabling more accurate and faster treatment.
The Freeths team was led by Dahren Naidoo (Partner, Corporate) and included Farrell Tang (Associate, Corporate) and Emma Lythgoe (Senior Associate, Competition).
Commenting on the transaction Dahren Naidoo said: “We acted for Northern Gritstone in their investment in LC Auxetec Ltd earlier this year. We’re delighted to have supported Northern Gritstone again on its latest investment as they continue to add to their portfolio of science and IP-rich investments. This investment will allow Mimetrik to expand its team and deliver its first three products to market. This deal demonstrates client trust, our credentials in the private equity sector and highlights our knowledge of the growing technology and AI space.”
Duncan Johnson, CEO of Northern Gritstone, said: “Mimetrik’s technology has the capacity to bring dentistry into a new age, removing unnecessary costs and time delays with their AI-driven software. It is fantastic to see the North of England producing such cutting-edge technology that can have an impact on an essential part of our lives. We look forward to working with Alyn and the Mimetrik team as they step up the development of their products.”
Northern Gritstone leads £2 million seed funding round in dentistry software developer Mimetrik - Northern Gritstone (northern-gritstone.com)<https://northern-gritstone.com/northern-gritstone-leads-2-million-seed-funding-round-in-dentistry-software-developer-mimetrik/>