BioCity invests in sports start-up

BioCity, the Nottingham life science incubator and business collective, has made an undisclosed investment in INCUS Performance.

Founded in 2016, INCUS Performance is a sports technology start-up that helps athletes to train better using data.

A wearable device, called INCUS | NOVA, is worn during training and captures high-quality motion and technique data, which is then automatically analysed and presented via a companion app to athletes and their coaches.

Marking the 27th investment to date, BioCity is joined by co-investors in a deal launched via the BioCity Investment Platform.

Claire Brown, director of investment at BioCity said, “INCUS Performance are tapping into an unmet need. The current application of the INCUS system in swimming has real potential to translate into and become a leader within triathlon sport athletics.

“We are in the privileged position of meeting founders in the early stages of venture development. We use this insight to invest in early-stage ventures, which are seen as high-risk, to support their growth and, crucially to facilitate later rounds of investment. Chris and the INCUS team are a wonderful example of what can be achieved in a short amount of time by bringing together commercial and technical expertise.”

Chris Ruddock, managing director, INCUS Performance said, “This investment allows us to grow our innovation team, commercialise a new generation of wearable technology for athletes and develop further disruptive technologies for sports and personal monitoring. INCUS | NOVA has seen exceptional support from athletes and coaches during its development, but we wouldn’t be able to get the technology out to meet this need without experienced partners such as BioCity. Their impressive network, expertise in business, biotech and health sectors, alongside a clear focus to support disruptive, high-technology start-ups, was key for us when choosing an investment partner. We are proud to partner with the BioCity group, and look forward to working with them in the next steps of our commercial journey.”

The deal was supported by law firms, Shakespeare Martineau, acting for INCUS and MBM Commercial, acting for BioCity, who advised on legal aspects of the deal.