Elaros 24/7 Limited, a provider of innovative digital health solutions for the management and monitoring of people with long-term conditions, has closed its second investment round with £584,000 to take the business forward in 2016.
The investment is made up of £100,000 from the Big Venture Challenge, £450,000 raised from private investors and £34,000 from Creative England. Managed by UnLtd, the Big Venture Challenge supports entrepreneurial individuals and organisations to deliver social impact at scale, and as part of its remit, Creative England backs SMEs to develop innovative digital health products and services for the health and social care market.
The funds will support the completion of pilot studies of the Elaros Digital Bladder Diary within the NHS in Sheffield and the North-East of England and the further refinement of the service for a subsequent roll out. They will also underpin the development of new product concepts in the Elaros portfolio.
Professor Paul O’Brien, CEO of Elaros, said “We are delighted to announce this key milestone for Elaros. This investment will allow us to continue making great strides in bringing our health self-management solutions to market and securing contracts with the NHS”.