Neupulse secures £500k from the Midlands Engine Investment Fund II to advance its Tourette syndrome wristband
The University of Nottingham spinout secured the follow-on investment via fund manager Mercia Ventures.
University of Nottingham spinout developing a wearable device to manage the symptoms of Tourette syndrome through nerve stimulation.
Neupulse has secured £500k in a seed follow-on round from the Midlands Engine Investment Fund II, with backing facilitated by Mercia Ventures. The University of Nottingham spin-out will direct the capital towards finalising product development and conducting further trials as it pursues regulatory approval in the UK, Europe and the United States.
The company previously raised £2.5m earlier in the year from a consortium that included Eos Advisory and US investors, bringing its total funds raised to nearly £4.5m. The latest injection marks the first deal completed by the £400m Midlands Engine Investment Fund II with a university spinout.
Founded in 2021, Neupulse builds on academic research to offer an alternative to traditional medication and behavioural therapy for Tourette syndrome. Clinical trials indicate the device can reduce tic frequency on initial use.
From the founder
"This funding from Midlands Engine Investment Fund II will take us one step further towards our mission to roll out our device and give new hope to people with Tourette’s. Having Mercia Ventures on board as a partner provides additional value, given its expertise in backing businesses that are developing new products and helping them gain entry to the US market."
Paul Cable
CEO at Neupulse
Investor perspective
"The Midlands Engine Investment Fund II has been established to ensure that businesses in the Midlands with strong growth ambitions have access to the finance they need."
Ken Cooper
Managing Director, Venture Solutions, British Business Bank
Use of funds
- 01Continue product development
