Monica Healthcare secures £2 million from existing and new investors

Monica Healthcare

Monica Healthcare has raised £2 million in an oversubscribed round, which was originally planned as a £1.5 million fundraise.

Existing shareholders — including Catapult Ventures, the New Hill Growth Fund, East Midlands Business Angels ,the University of Nottingham and management — have contributed 65% of the fund raising. New investors, specifically Wren Capital, Origin Capital, Catamaran Ventures and the London Business Angels have, along with new private investors, invested the remaining funds.

The company provides wearable medical devices that monitor fetal and maternal well-being. Monica’s existing, FDA-approved AN24 product is maternal monitor for use during labor, and is sold in the USA, Europe, Brazil, Russia, India and China; it monitors the delivery of over 100,000 babies every year.

The new capital will be used for expansion of the company and to underpin the manufacture and launch of a second generation, FDA-cleared, wireless fetal monitoring product.

“We aim to establish Monica as one of the world’s leading providers of fetal and maternal monitoring products by continuing to design products which are both substantially higher in performance and easier to use than the existing technologies in current use in the Labour & Delivery wards of today’s hospitals,” said Dr Carl Barratt, CEO of Monica Healthcare. “We look forward to announcing further great news in the coming weeks and months.”