Liopa secures seed follow-on investment from the government Future Fund to advance automated lip-reading technology.
The Belfast start-up gains official backing to bring its LipRead and SRAVI communication products to market.
Liopa is an automated lip-reading company that develops software for video transcription and healthcare communication. The firm operates as a spin-out from Queen's University Belfast.
Belfast-based automated lip-reading firm Liopa has secured new backing from the government's Future Fund. The capital injection follows earlier support from regional investors and the company's founders, aiming to commercialise two distinct software products.
The proceeds will facilitate the market launch of LipRead, designed to improve transcription accuracy in video and media, alongside SRAVI, an application assisting non-verbal patients in communicating with medical staff and families. SRAVI is currently undergoing clinical evaluation at Lancashire Teaching Hospitals NHS Trust, driven partly by rising demand from tracheostomy procedures related to COVID-19 complications.
Participation in the round also includes QUBIS, Techstart Ventures through Techstart NI, and Clarendon Fund Managers via Co-Fund II. The Future Fund itself is administered by the British Business Bank to support innovative companies through the economic disruption caused by the pandemic.
Investor perspective
"We’re always excited to see how the companies we’ve worked with continue to grow and innovate producing cutting edge research. Liopa is doing some critical work and using their research to provide solutions in a particularly challenging time. We’re pleased the team are getting the funding they deserve to continue this work."
Brian McCaul
CEO, QUBIS
Use of funds
- 01Continue product development
