Neuro-rehab software firm secures £10m fund raise
A digital therapeutic software company has announced a £10.35m Series A funding round, led by investor IW Capital.
Staffordshire-based Strolll uses augmented reality (AR) glasses to provide proven and patented neurorehabilitation to patients living with neurological disorders such as Parkinson’s disease, stroke, and Multiple Sclerosis.
The platform blends digital content with the real world through off-the-shelf AR glasses for patients within a clinic and at home.
Clinical trials have shown that Strolll’s technologies can offer up to seven times more treatments with 67% less staff time, enabling healthcare services to provide patient care more effectively and efficiently. The technology has helped to improve mobility in patients who struggle to walk, balance or are at risk of falling.
It will use the investment to accelerate its sales and marketing activities, extend its product leadership and expand the regulatory label, which will allow Strolll to target additional neuro-related disorders adjacent to the ones it already addresses.
The funding round follows a £2.4m NIHR grant-funded project with the University of Leeds, the University of York and four NHS trusts across the UK. It’s conducting a three-year randomised controlled trial of Strolll’s treatments for patients with Parkinson’s disease.
Strolll also entered the US market last year, with a £3m partnership with Cleveland Clinic. The US healthcare provider became a shareholder in Strolll and transferred IP to the business.
Isobel Egemole, IW Capital’s investment director said: “IW Capital are thrilled to announce our investment into Strolll. Strolll are transforming the physiotherapy and neurorehabilitation markets and have already helped a significant number of people with debilitating neurological disorders to live better lives. The potential impact of their software is huge and we’re proud to be backing this cutting-edge business as it addresses key healthcare needs.”
Jorgen Ellis, CEO of Strolll said: “Strolll are at an exciting inflection point in our journey and we are delighted to be partnering with IW Capital, as well as other investment partners, as we look to accelerate the growth of our business. We are positioned at the forefront of the neurorehabilitation market and we’re passionate about helping to improve the care that patients with neurological disorders receive. We thank investors for believing in our vision of healthcare and we look forward to building on our achievements to date.”
