Series A12 January 2023

PneumoWave secures £7.5m Series A funding led by Scottish National Investment Bank to advance biosensor platform.

The Scottish National Investment Bank led the Series A round to accelerate clinical validation and regulatory submission of the company's respiratory monitoring platform.

£7.5MSeries A

PneumoWave develops wearable biosensor technology designed to remotely diagnose and monitor potentially fatal respiratory changes. The digital health business focuses on preventing deaths and reducing hospital admissions.

Digital health company PneumoWave has secured £7.5m in a Series A funding round led by the Scottish National Investment Bank. The financing includes £5.2m in equity from the bank and £2.3m from existing backers, alongside backing from life science investor Mark Bamforth.

The capital will be directed towards clinical validation and regulatory submission for the company's remote respiratory monitoring platform. With the new funds, PneumoWave plans to expand its team and scale operations as it prepares for entry into the United States market.

From the founder

"We are delighted to close this round and thank both our existing investors and the Scottish National Investment Bank for their support,"

Bruce Henderson

CEO at PneumoWave

Investor perspective

"Supporting fast growing, innovative companies is a fundamental priority for Scottish Enterprise, and PneumoWave are a fantastic example of how Scotland’s supportive ecosystem can help ambitious early stage companies. This investment builds on early-stage investment support received from a number of investors, including Scottish Enterprise, and will enable Pneumowave to continue with their impressive development and company growth."

Kerry Sharp

Director of Entrepreneurship and Investment, Scottish Enterprise