Neurovalens, a HealthTech startup that specialises in combining neuroscience and technology to solve health issues, has secured £1.1m in funding.
This new funding comes from sources including the Angel CoFund (backed by the British Business Bank), Beltrae Partners and TechStart NI and brings the total raised by the Belfast-based firm to £1.4m.
Neurovalens was founded by British neuroscientists Dr Jason McKeown and Dr Paul McGeoch.
The investment comes just ahead of the company launching its first product, weight loss aid Modius – a wearable device that stimulates the hypothalamus, an area of the brain associated with hunger and metabolism.
Ian Kerr, chairman of Neurovalens, said: “This new wave of funding from the British Business Bank, Beltrae Partners and TechStart Ventures secures our ability to move from prototyping to full-production. It will also allow us to build further skills in to our team and help us create new jobs in Northern Ireland.”
Tim Mills, investment director at the Angel CoFund, said he believed Neurovalens is “on the cusp of achieving a genuine breakthrough”.
“We are very pleased to be backing them as they bring their first product to market. Millions of people want to be leaner and fitter, and by combining the founders knowledge in the disciplines of neuroscience and technology they have developed a radically innovative solution for an age-old issue. One that we hope will become a new normal in the individual pursuit of good health,” he concluded.
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