Newcastle tech company aims to ‘improve independent living’ with £1.3m funding

Circadacare, an independent living technology company that integrates proven circadian light technology with a unique monitoring platform to enhance wellness and promote independent living, today announces that it has successfully raised £1.3m in funding

The funding round was led by Northstar Ventures, with contributions from both private and venture capital investors. This news comes alongside the company’s match-funded partnership award from Innovate UK, the UK’s national innovation agency.

The funds raised in this round will drive Circadacare’s ongoing development and expansion plans with a focus on investing in product research, growing the team and identifying additional market opportunities.

Over 920,000 people in the UK are thought to be living with dementia, at an estimated cost of £35bn to the economy. Approximately 85 per cent of this cost relates to social care and unpaid care with 61 per cent of people living with dementia living in the community in their own homes.

Circadacare’s light technology is proven to support sleep and alertness, which can result in reduced falls, improved cognition and engagement, and alleviated ‘sundowning’.

Circadacare aims to offer families and caregivers peace of mind, ensuring that their loved ones receive gentle, non-invasive care that helps synchronise their circadian rhythms while promptly notifying care providers of any notable lifestyle changes.

James Theobald, Founder of Circadacare, commented: “This funding and award will help us to continue our mission of helping individuals live independently for longer. By harnessing the combined potential of circadian light technology and advanced AI monitoring we can deliver top-tier independent living solutions.”

Tallie Bush, Product Director, added: “We’d like to extend our sincere thanks to our investors, Innovate UK, and our dedicated team for their ongoing support. We’re excited about what the future holds for Circadacare and are committed to continuing to develop our technology so that it enables the delivery of effective care for everyone in need of support.

“The continued support from our investors, along with the recognition from Innovate UK, speaks to the potential they see in our work and the need for enhanced independent living solutions.”

Richard Charnley, Investment Director at Northstar Ventures, said: “We are proud to invest in Circadacare who provide a healthy ageing solution to help people live independently for longer. Their technology has the potential to massively reduce people’s reliance on health care providers and give peace of mind to families and caregivers.”

By Matthew Neville – Senior Correspondent, Bdaily

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