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 spin-out 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.”
About Cerca Magnetics
Cerca Magnetics is a UK-based medical technology company developing wearable brain imaging systems using quantum sensing technology. Founded in 2020, the company works with research institutions, healthcare providers and government partners worldwide.
About Guinness Ventures
Guinness Ventures is the venture arm of Guinness Global Investors, a London-based asset manager with approximately £8 billion under management. Led by CEO Shane Gallwey, the team focuses on backing high-growth UK scale-ups at Series A through EIS and VCT structures. Since 2010, Guinness Ventures has invested over £350 million into more than 200 companies across sectors including healthcare, software, and consumer brands. The portfolio includes businesses such as Cera Care, PlotBox and BibliU, alongside notable successful exits including Pasta Evangelists (Barilla), ContentCal (Adobe) and Imagen (Thomson Reuters). Guinness Ventures is an Appointed Representative of Guinness Asset Management, which is authorised and regulated by the Financial Conduct Authority.