Neurovalens secures £6m led by the Investment Fund for Northern Ireland to expand commercial operations.
The investment round was led by the Investment Fund for Northern Ireland to support international commercial expansion and product development.
Neurovalens develops wearable technology that combines neuroscience with medical applications to address health and metabolic issues.
Neurovalens has secured £6m in a funding round led by the Investment Fund for Northern Ireland. The capital will be deployed to accelerate sales of its FDA-cleared devices, expand commercial operations in the US, and advance its regulatory pipeline.
The financing comprises equity and debt elements, with participation from Whiterock's Growth Capital Fund, IQ Capital, Innovation Ulster, and the Angel Co-Fund, alongside private investors. Clarendon Fund Managers and Whiterock manage the respective portions of the lead investor fund.
From the founder
"We’re delighted to have the support of the Investment Fund for Northern Ireland and our other new and existing investors at this key stage in our journey. This funding will enable us to significantly scale sales of our current medical devices, and also to extend our product portfolio through additional FDA approvals. Our technology offers an entirely new approach to treating serious global health challenges through safe, non-invasive neurostimulation."
Jason McKeown
CEO at Neurovalens
Investor perspective
"Clarendon is proud to continue our support for Neurovalens through the IFNI fund. The company has achieved some very significant milestones over the past few years including medical device clearance from the FDA for the treatment of some serious health conditions. We look forward to working with Jason and his team as the business expands its commercial operations in the US and beyond."
Brian Cummings
Investment Director, Clarendon Fund Managers
Use of funds
- 01Expand into international markets
- 02Continue product development
- 03Invest in sales and marketing
Investors
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About the company
Neurovalens
Neurovalens creates wearable devices that stimulate the brain to address metabolic and health issues.