Biosite secures £4 million of growth capital

December 1, 2016 - 

UK-based Biosite has secured £4 million ($5.9M USD) of growth capital from Mobeus Equity Partners.

Biosite offers biometric access control and software-based workforce management solutions to facilitate safe and secure sites for the construction sector.

Biosite was founded in 2010 and is led by Managing Director Dr Li Wang and Research Director Dr Greg Reynolds. Its fingerprint algorithm solution works with low grade fingerprints, a feature of the construction industry, to provide access control for workers coming on site. Biosite has also developed a software system that allows customers to utilize the data collected from the access control platform to manage their workforce as well as providing broader security services including integrated CCTV, fire alarms and guarding.

Mobeus has brought on Mark Roberts, former CEO of CSC, as non-executive Chairman. Roberts led CSC through a period of significant international growth and a successful trade exit to NASDAQ-listed Trimble.

Amit Hindocha from Mobeus, who will also join the board of Biosite, said: “We are delighted to be partnering with Li and Greg. They have done an excellent job in establishing Biosite as one of the leading workforce management platforms in the construction industry and our funding will provide them with the capital needed to become the site management tool for the industry.”

Li Wang,MD of Biosite, commented: “This is an exciting time for Biosite; we had a number of investment offers, but in Mobeus we believe we have found the right partner. We are looking forward to working together to capitalize on our growth opportunities.”

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About Stephen Mayhew

Stephen Mayhew is the publisher and co-founder of Biometrics Research Group, Inc.. His experience includes a mix of entrepreneurship, brand development and publishing. Stephen attended Carleton University and lives in Toronto, Canada. Connect with Stephen on LinkindIn.