Belfast-based Neurovalens, a leader in non-invasive neuro-technology, has raised £6 million in a fresh funding round to boost its global reach. The investment, led by the Investment Fund for Northern Ireland, comes just over a year after the company’s last round and aims to speed up sales in the US while pursuing more regulatory approvals.
This latest boost pushes Neurovalens’ total funding to about £20 million from equity and debt sources. The company focuses on wearable devices that use gentle electrical pulses to stimulate the brain, helping with issues like insomnia, anxiety, and post-traumatic stress disorder.
Details of the New Investment Round
The funding round drew support from several key players. The Investment Fund for Northern Ireland put in £1.5 million through its equity arm, managed by Clarendon Fund Managers. Whiterock’s Growth Capital Fund added £780,000, and a £1 million loan came from the Investment Fund for Northern Ireland’s debt fund, also handled by Whiterock.
Existing backers joined in too, including IQ Capital, Innovation Ulster, and the Angel Co-Fund. This mix of new and repeat investors shows strong belief in Neurovalens’ path forward.
Company leaders said the money will help grow sales of current products and expand their lineup. With the health tech sector booming, this round positions Neurovalens to meet rising demand for non-drug treatments.
Background on Neurovalens and Its Growth
Neurovalens started in 2015, founded by Dr. Jason McKeown. The Belfast firm has built a name for itself by blending neuroscience with tech to tackle common health problems without surgery or pills.
Over the years, it has pulled in steady investments. A look at its funding history shows steady progress:
| Year | Amount Raised | Key Focus |
|---|---|---|
| 2019 | £4.6 million | Early development and trials |
| 2020 | £5.1 million | Expanding medical device approvals |
| 2023 | £2.1 million | Boosting product launches |
| 2025 | £6 million | Global sales and new approvals |
This table highlights how each round has built on the last, leading to key wins like US market entry.
The company works with top research spots, such as the University of California San Diego, to refine its tech. Today, Neurovalens employs a team focused on innovation, with offices in Belfast and plans for more US presence.
Innovative Products Tackling Health Challenges
At the heart of Neurovalens are its wearable devices, like the Modius Sleep and Modius Calm. These headsets send small electrical signals to specific brain areas, aiming to ease symptoms naturally.
The Modius Sleep targets insomnia by promoting better rest patterns. Users wear it for short sessions before bed, and studies show it can improve sleep quality without side effects common in pills.
The Modius Calm helps with anxiety, offering a drug-free option for daily stress. Both have earned clearance from the US Food and Drug Administration, making them available by prescription in the US.
Looking ahead, Neurovalens plans to seek approvals for devices treating obesity and diabetes. This could open doors to millions more users worldwide.
Plans for Expansion and Market Impact
With the new funds, Neurovalens aims to ramp up sales in the US, where demand for mental health solutions is high. The company also eyes growth in other global markets, building on its FDA successes.
Dr. Jason McKeown, the CEO, shared excitement about the road ahead. He noted that the tech provides a fresh way to handle tough health issues safely.
Investors echo this optimism. One backer highlighted the firm’s milestones, like gaining FDA nods for serious conditions. This funding could help Neurovalens lead in non-invasive neurostimulation, a field expected to grow fast amid rising mental health awareness.
Broader Trends in Health Tech Funding
The health tech world is seeing more investments as people seek better wellness tools. Recent events, like the push for remote health options post-pandemic, have fueled this trend.
Neurovalens fits right in, joining firms developing brain-focused wearables. For instance, similar startups have raised funds for devices aiding everything from focus to pain relief.
Key trends driving this include:
- Growing interest in mental health apps and devices.
- Advances in AI to personalize treatments.
- Regulatory wins that build trust and open markets.
These factors make Neurovalens’ timing spot on.
What This Means for the Future
This funding marks a big step for Neurovalens, signaling trust in its vision. As the company scales, it could change how we approach everyday health woes, making treatments more accessible.
In a world where mental health matters more than ever, innovations like these offer hope. Neurovalens stands ready to deliver, with science-backed tools that avoid invasive methods.
What do you think about this development in health tech? Share your thoughts in the comments below, and pass this article along to friends interested in cutting-edge wellness solutions.
