Tech firm Circadacare lit up by £500,000 backing
A technology firm behind light-based apparatus helping people live more independently has secured £500,000 backing.
Circadacare has been supported to continue developing its Heleos light product, which uses circadian rhythm technology to support the body’s natural sleep-wake cycle.
The Newcastle-based company secured £250,000 from the North East Innovation Fund via Northstar Ventures, and a further £255,000 from new and existing angel investors and an Innovate UK North East digital launchpad grant.
The standard type of lighting typically used in homes, hospitals and supported living facilities can negatively impact the body’s natural rhythm, affecting patients’ awareness, sleep patterns and mood, while increasing the risk of falls.
However, officials say Heleos – which appears like a light bulb – discreetly gathers movement and sound data, providing real-time feedback to clinicians, carers and families, and flagging when intervention may be required.
Tallie Bush, Circadacare chief operating officer, said: “This funding comes at the perfect time.
“It enables us to accelerate our development roadmap and expand Heleos' capabilities based on the feedback we've received from our early adopters.
“With Northstar Ventures’ support, we can enhance our offering, building on our strong foundation to create even more powerful tools for older adults and their carers.”
Tom O’Neill, Northstar Ventures’ investment manager, added: “We’re delighted to support Circadacare with further investment, which will be used to deepen commercial partnerships with key customers and improve users’ quality of care.”
Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →
Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.
Enjoy the read? Get Bdaily delivered.
Sign up to receive our daily bulletin, sent to your inbox, for free.
Why innovation needs more than good ideas
Is your business using artificial intelligence right?
Resilience, connection and maximising opportunity
In pursuit of healthy obsession
Why the Budget must restore productivity
What does collaboration really mean in business?
Why NE6 is the real Northern Powerhouse
Can you really judge someone by their CV?
Are you flying too close to business burnout?
Making education a lot better for a lot more
Have we made it harder for young people to succeed?
Celebrating Nissan's North East success story