RAB-Microfluidics, a Scottish firm which was founded by Dr. Rotimi Alabi, has bagged £1.24M funding for its Laboratory-on-chip project.
The investment round was led by EOS Advisory, alongside London-based Newable Ventures, Scottish Enterprise and existing investors.
RAB-Microfluidics has developed a laboratory-on-a-chip technology. With this tech, oil samples obtained from heavy machinery, such as generators and pumps, can be analysed on site rather than being shipped to laboratories onshore.
The Research and Development (R&D) firm was built out of the University of Aberdeen. It was, in the past, chosen for the TechX Pioneers accelerator programme run by the Oil and Gas Technology Centre (OGTC) in Aberdeen, in 2018.
According to RAB-Microfluidics, the firm intends to use the investment to strengthen its team and develop its product roadmap.
Andrew McNeill, managing partner at EOS Advisory, said that:
“RAB-Microfluidics is one of the most exciting early stage Scottish technology companies in the energy sector and we’re pleased to have brought together such a strong set of investors to support Rotimi and his team through their next phase of growth.“
Read also: Plentywaka expands ride-hailing service into Southern Nigeria
In addition to Mr McNeill’s summation, Scottish Enterprise’s interim director, Jan Robertson, added that:
“We’ve been working closely with the company in recent years to help it fully commercialise its cutting-edge microfluidic technology. We are pleased to be able to continue our support by participating in this latest funding round and look forward to seeing the company go from strength to strength.”
RAB-Microfluidics was founded in 2016 by Dr. Rotimi Alabi. The firm has a widespread customer base in the UK and all over the world.
Its customers are involved in industries such as aerospace, defence, maritime, oil and gas, transport and processing and manufacturing industries.
In a statement by the founder, Rotimi Alabi said that:
“We are revolutionising oil testing and analysis services by making conventional laboratory procedures mobile, rapid and routine. We do this by delivering oil analysis more than one thousand times faster and around 10 times cheaper than the current approach that is based on sending oil samples to laboratories.”