University of Manchester spinout Careloop has closed a 拢1.8m seed funding round.
The funding comes from the GMC Life Sciences Fund By Praetura, NPIF II 鈥� Praetura Equity Finance, Verge and SFC Capital.
A digital therapeutic platform launched in 2021, Careloop focuses on tackling severe mental illness.聽
Following the investment, the Manchester-based MedTech has confirmed plans to continue developing its technology to encompass other severe mental illnesses, including bipolar disorder.
CareLoop integrates with existing treatment pathways, providing patients with digital support while enabling clinicians to remotely monitor and track patients鈥� symptoms.
The company is also set to open its first headquarters in Manchester鈥檚 new 拢1.7bn Sister innovation district, which opened its doors in late September 2024.
鈥淥ur mission has always been to provide accessible care where it鈥檚 needed to those living with the most severe and enduring mental illnesses,鈥� said Zo毛 Blake, CEO of CareLoop.
鈥淲ith approval from NICE, over 10 years of data and now the backing of key and well-connected investment partners, we鈥檙e looking forward to enhancing the way mental health support is delivered to improve the lives of many millions living with these conditions.鈥�
Sim Singh-Landa, investment director and head of the GMC Life Sciences Fund By Praetura, added: 鈥淲e understood CareLoop鈥檚 mission, vision for transforming severe mental illness aftercare and the wider roadmap from our very first meeting with the team.聽
鈥淔ast-forward to the present day and we鈥檙e incredibly excited to not only be supporting the company with investment but also the more than money guidance and network support it needs to scale and deploy its technology across the NHS and other global health institutions.聽
鈥淭he company is a testament to the quality of spinouts coming out of the University of Manchester.鈥�