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Seed

CareLoop secures £1.8m in seed funding to expand its digital mental health platform.

Praetura Ventures and Verge HealthTech Fund co-led the seed round to support preventative care for severe mental illness.

£1.8MSeed

CareLoop is a digital therapeutic platform and University of Manchester spinout that provides preventative care and remote symptom monitoring for severe mental illness.

CareLoop has raised £1.8m in a seed funding round co-led by Praetura Ventures and Verge HealthTech Fund. Additional backing came from GMC Life Sciences Fund By Praetura, NPIF II, Praetura Equity Finance, and SFC Capital. The capital will support the company as it continues to develop its technology for other severe mental conditions.

The University of Manchester spinout integrates with existing treatment pathways to offer digital support and remote monitoring for clinicians. The platform is backed by over a decade of research and clinical trials, and holds recommendation from NICE for NHS use.


Investor perspective

"We understood CareLoop’s mission, vision for transforming severe mental illness aftercare and the wider roadmap from our very first meeting with the team. Fast-forward to the present day and we’re incredibly excited to not only be supporting the company with investment but also the more than money guidance and network support it needs to scale and deploy its technology across the NHS and other global health institutions. The company is a testament to the quality of spinouts coming out of the University of Manchester, and the North West’s universities more generally. In addition, it’s great to see the GMC Life Sciences Fund by Praetura and the NPIFII – Praetura Equity Finance funds collaborate alongside co-investors from the UK and Singapore."
SS

Sim Singh-Landa

head of the GMC Life Sciences Fund By Praetura, GMC Life Sciences Fund By Praetura


Use of funds

  1. 01Continue product development

Investors

Praetura Ventures

Praetura Ventures

VH

Scarlett Chen

Verge HealthTech Fund

GL

Sim Singh-Landa

GMC Life Sciences Fund By Praetura

NI

NPIF II – Praetura Equity Finance

SFC Capital

SFC Capital


About the company

C

CareLoop

CareLoop provides a digital therapeutic platform for severe mental illness.

Manchester, UK Founded 2021
£1.8MRaised