Non-contact vital sign monitoring a reality with investment from Ora and IP Group
Non-contact vital sign monitoring a reality with investment from Ora and IP Group
Oxehealth closes latest round of funding with £2m of investment
Oxehealth, the vital signs software developer spun out from the University of Oxford's Institute of Biomedical Engineering, today announces the results of its latest round of funding, which has seen investment from IP Group plc, one of its managed funds, IP Venture Fund II LP,and Ora.
The company's patented Oxecam clinical technology, developed by world-leading scientist Professor Lionel Tarassenko, enables a digital video camera, tablet or phone to monitor the vital signs of an individual, without the need for physical contact or expensive proprietary equipment.
The technology has a number of exciting applications in both healthcare and wider consumer markets and has the potential to not only make patients safer but also save valuable nursing time otherwise spent manually collecting and recording vital signs. The funds will be used to support the development of specific applications and prototypes as well as the extension of the core technology.
Richard Griffiths, Executive Chairman of Ora, is one of the UK's leading investors in technology. Richard who was an early investor in IP Group plc, has also invested in other IP Group portfolio companies including Oxford Nanopore Technologies Ltd and Tissue Regenix Group plc. As well as a raft of other high tech and small cap companies including Nanoco Group plc, Oxford Pharmascience Group plc, Silence Therapeutics plc, Plant Health Care plc and GVC Holdings plc.
Richard said: "I'm delighted to be backing Oxehealth which has an incredibly exciting technology and a management team with a proven track record of delivery."
Existing investors IP Group plc, IP Venture Fund II LP, Chairman Allan Wood and CEO Jonathan Chevallier also invested further in the current round.
As well as influential external backers, Oxehealth is supported within by a strong board and advisors which include Warren East, ex-ARM CEO.
