CoMind, a London-based health tech company that has developed a new approach to scanning brain activity, has secured more than $100m (£75m) in a Series A round led by Plural.
Led by James Dacombe, who founded the company aged just 17-years-old, CoMind offers an alternative to what it describes as the risky, expensive and highly invasive procedures that would typically be needed to monitor a patient’s brain.
CoMind has developed an optical neuro-monitoring platform to non-invasively measure key health indicators for the brain, including cerebral blood flow, autoregulation and intracranial pressure.
The health tech firm is currently seeking regulatory approval to access the enormous ICU market in the US, where three million patients suffer from traumatic brain injuries a year.
Plural, the VC group set up by entrepreneurs including Wise co-founder Taavet Hinrikus, led the round that included investors Angelini Ventures, LocalGlobe, Octopus Ventures, Crane Venture Partners, BACKED VC and Entrepreneurs First.
In a public statement, Hinrikus said the company’s technology is a “breakthrough hat could help tens of millions of patients worldwide and redefine how we understand and treat the brain”.
“This is only the beginning. CoMind plans to expand its product portfolio to measure additional physiological parameters and develop CoVision, an AI platform that transforms sensor data into predictive insights, identifying complications early and personalising treatment,” said Hinrikus.
As part of the round, Hinrikus will join the board of the company.