Tekcapital portfolio company Belluscura is positioned for a landmark 2024.
The stars are aligning for the developer and manufacturer of portable oxygen units after securing interest and orders totalling up to a potential $85m last year.
In addition, the company is on the verge of completing an innovative funding package designed to meet the demands of burgeoning orders in Asia.
The company has received approval in Singapore, Hong Kong, and, most recently, China. China represents a market of up to 100 million suffering from COPD.
“We are delighted to have received approval in China which has taken over approximately 10 months. This enables us to launch sales into China with immediate effect,” said Bob Rauker, Chief Executive Officer of Belluscura when the company released a trading update in December.
“With our arrangement with InnoMax in place, we are confident that we can now deliver on the significant potential for our products in this large and growing market.
“The approval in China, Singapore and Hong Kong are the first steps in leveraging the InnoMax agreement to expand in the ASEAN region and to distribute our portable oxygen concentrators in new markets, enhancing the lives of those with COPD and building market share in the process.
“Building any start up business is never easy, particularly within the MedTech world and in the current economic environment. After two years of testing, developing and refining our products, the Board is very confident that Belluscura is now well placed to take advantage of the significant opportunities it has in 2024 and beyond.”
This year is likely to be the year Belluscura transitions from the ‘start up’ phase Rauker mentioned, to a scale up multinational organisation generating significant revenues.
Belluscura’s lowly £35m market capitalisation may start to look excellent value as the company builds momentum.
The company was founded by Tekcaptial (LON:TEK), who retain a circa 10% stake. Tekcapital recently said they were continuing to progress with another AIM IPO from their stable of technology companies, MicroSalt.
MicroSalt has won substantial contracts with the world’s largest snack food companies and like Belluscura, is set for a year of multi-million pound revenue generation.