# Dxcover

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/dxcover

- Industry: Medical Devices & Equipment
- Headquarters: Glasgow, UK
- Website: www.dxcover.com
- Total disclosed funding: $9.3M
- Latest round: Series A (Jan 27, 2023)
- Investors on record: 6

## About

Based in Glasgow, UK, and founded in 2016, Dxcover Limited, fka Clinspec Diagnostics Limited is a clinical-stage liquid biopsy company that operates as a manufacturer of a diagnostic device that helps medical experts detect cancer by using blood as a sample. Mark Hegarty (CEO) and Matthew J. Baker (CTO) are the co-founders of the company. ClinSpec Diagnostics Limited was spun off from the University of Strathclyde in 2019 and rebranded as Dxcover Limited in 2021. In February 2025, Dxcover Limited raised USD 6.2 million in venture funding led by returning investor Eos Advisory, with participation from other new investors Norcliffe Capital, SIS Ventures, and University of Strathclyde. New investors Macmillan Cancer Support, Maven Capital Partners, and other unspecified investors also participated in the round.

The company develops the Dxcover Platform, a system that analyzes a patient's blood serum to detect the presence or absence of disease and combines hardware with advanced artificial intelligence algorithms. The platform combines infrared spectroscopy with artificial intelligence to achieve same-day detection of cancer from a simple blood sample, enabling rapid diagnosis and stratification of patients for earlier treatment.

In addition, the business develops Dxcover brain cancer liquid biopsy, a technology that gives clinicians a tool for spotting brain cancer. Dxcover is also developing a set of tests to identify the most prevalent cancers by utilizing its Dxcover platform and drop-dry-detect approach.

The organization plans to use the February 2025 funding to accelerate its business operations and advance its technological capabilities.

## Funding rounds

- Series A, Jan 27, 2023, $9.3M — Mercia Fund Management, University of Strathclyde, SIS Ventures, Scottish Enterprise, Norcliffe Capital, Eos

## Investors

- Mercia Fund Management — Series A
- University of Strathclyde — Series A
- SIS Ventures (https://capitalatlas.ai/funds/sis-ventures) — Series A
- Scottish Enterprise (https://capitalatlas.ai/funds/scottish-enterprise) — Series A
- Norcliffe Capital (https://capitalatlas.ai/funds/norcliffe-capital) — Series A
- Eos — Series A