Bates Wells advised optical technology business Aston Eyetech Limited on its £5million Series A investment round

Bates Wells acted for Aston Eyetech Limited (“AET”) on its £5million Series A investment round. The investors were Mercia Technologies PLC, the national investment group focused on the funding and scaling of innovative technology businesses with high growth potential from the UK regions, and an Asian-based investment syndicate.

MedTech, Technology

AET is a spinout from the optometry department of Aston University and was established to allow the commercialisation of their AI intellectual property. AET aims to disrupt the optometry industry by combining high quality portable and digital eye tests with artificial intelligence driven software platforms.

Carl Francis, CEO of AET, said: “Our Series A round was complex and international, and the team at BWB did a great job of getting it over the line. I have worked with them on a number of transactions, and am always impressed at the pace they move and their pragmatic approach.

The transaction demonstrates Bates Wells’ corporate finance practice and expertise in the technology sector.

Principal Lawyers: Team led by Mark Tasker (Head of Corporate) supported by corporate lawyers Matthew Gearing (Associate) and Edward Reardon (Solicitor).