Digital therapeutics software developer for Parkinson’s disease gets £2.1m investment
Strolll, a digital therapeutics software developer for Parkinson’s disease, has secured £2.1m of investment.
The funding will allow the company to reach several key milestones, including gathering outcomes data from ongoing studies and NHS pilots, expanding into the US market, and demonstrating the ability to apply the technology beyond Parkinson’s disease to other conditions.
Lichfield-based Strolll is a medical technology company that develops digital therapeutics software for commercially available augmented reality glasses, which transforms physiotherapy and rehabilitation for people living with neurological disorders.
The patented software uses proprietary methods to alleviate gait and balance motor symptoms experienced by a large number of people with Parkinsons. The solution also has potential applications in rehabilitation of other neurological disorders, such as strokes and multiple sclerosis.
The tech-driven solution provides gamified exercise therapy through targeted, clinically-proven augmented reality activities. It allows patients to access rehabilitation exercise at home and maintain their disease at a lower stage for longer. This improves mobility, confidence, and independence which could reduce the long-term cost burden on families and healthcare systems. With the added benefit of enhancing the patient experience, convenience, and access to rehabilitation.
Strolll’s innovative Reality DTx® software provides a convenient and effective way for patients to manage neurological disorders. With waiting lists for healthcare services at an all-time high, Strolll’s solution can improve the efficiency of rehabilitation services by allowing patients to receive seven times more therapy using only a third of the clinician’s time. This approach not only reduces waiting times but also leads to better outcomes for patients.
Strolll secured £750,000 from the Midlands Engine Investment Fund (MEIF) through the MEIF West Midlands Equity Fund. This funding forms part of a larger £2.1m seed investment round led by MEIF fund manager Midven, part of the Future Planet Capital Group, in participation with Martlet Capital, SFC Capital, and multiple angel investors.
Jorgen Ellis, CEO at Strolll, said: “We are excited to use this funding to expand the capabilities of Strolll and look forward to working with Midven, and our investors and partners to make this a reality. With this investment, we aim to provide an accessible and effective solution for more patients with neurological disorders, ultimately improving their quality of life.”
Huw Sparkes, junior investment manager at Midven, said: “We are thrilled to support Strolll in its mission to transform the lives of people with Parkinson’s disease and relieve strains on the NHS through innovative technology. Its dedication to improving the quality of life for those affected by this debilitating disease is truly inspiring. We look forward to supporting the business growth and further establishing its presence in the UK and backing its expansion worldwide.”
Peter McPartland, investment director, life sciences at Martlet Capital, and who will be joining the board of Strolll, said: “We are delighted to be able to support this very exciting venture. Through its leading, patient-centric technology, Strolll aims to have a significant impact upon those suffering from neurodegenerative disorders. We will work hard with MidVen and the Company’s other shareholders to help Strolll achieve its ambitious goals.”