Funding
PUK Ventures, the venture capital business of Partnerships UK, has put in £750,000 as the lead investor in a £1.2 million funding round in Monica Healthcare Ltd, a Nottingham University spin-out, which has developed a portable, wireless, prenatal heart rate monitor.
The technology allows monitoring of the foetus and mother for extended periods of time and allows the mother to move around as normal. Existing techniques such as ultrasound are not very effective in uninterrupted monitoring over longer periods of time and restrict mothers’ movement. The device has achieved CE marking and is available in European markets.
The other investors are Catapult Venture Managers, investing £300,000, Nottingham University, £100,000, with private investors contributing a further £25,000. Proceeds will be used to expand marketing activities in the US and other international markets.
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