News Summary

Toronto-based medtech company MolecuLight has raised $39.5 million CAD from UK-based investment firm Hayfin Capital Management. The funding aims to expand MolecuLight’s global presence and introduce new thermal imaging and 3D visualization features to its wound bacteria-detecting devices. MolecuLight’s devices, the i:X and DX, use fluorescent light to detect bacteria in wounds and surgical sites, helping to improve treatment outcomes by reducing healing times and minimizing the use of antibiotics. Founded in 2012 by Ralph DaCosta, MolecuLight has previously raised funds from various organizations, including a $11.7-million CAD Series C round in 2024, led by Export Development Canada. The company continues to innovate in the wound care space, competing with firms like Swift Medical, which is incorporating AI into its wound management solutions.