£3.4m funding boost sees healthtech firm look North

A Nottingham-based early stage healthtech company has secured £3.4m in funding to accelerate its growth plans, which include extending its geographical footprint for the first time.

BlueSkeye AI develops face and voice analysis technologies to help improve mental health diagnoses.

The University of Nottingham spin-out has been awarded the funding by XTX Ventures, Foresight Group, Praetura Ventures, UoN and a consortium of high-net-worth individuals.

The cash boost will further accelerate the firm’s expansion across both clinical and non-clinical health and wellbeing markets and enable it to establish a physical presence in the North-West of England.

Professor Michel Valstar, co-founder and CEO at BlueSkeye AI, said: “The demand for alternative pathways to access mental healthcare is enormous, and continues to grow by the day. We’re committed to disrupting traditional approaches to healthcare to help improve the quality of people’s lives, and we’re particularly focused on the perinatal mental health sector. With the support of XTX Ventures, Foresight Group and Praetura Ventures, we’ll strengthen the rollout of new clinical trials and product development, and champion the benefits of technology for reinforcing healthcare provision on a national, regional and global basis.”