16 Sep Cash injection will help technology firm B-Secur embed technology in wearables
Clarendon portfolio company B-Secur, which commercialises the application of patented ECG algorithms for a range of uses, has been given a fresh injection of funding will which allow it to embed its life-saving technology into smart watches, cars and even clothing.
Kernel Capital has increased its investment in B-Secur to £1,450,000 while Accelerated Digital Ventures and Clarendon Fund Managers have also participated in the latest investment round, which completed last month.
B-Secur has developed a world first software technique that uses an individual’s unique heartbeat pattern and provide health and wellness insights at the same time.
Medical grade ECG recording traditionally happens in the hospital environment using expensive equipment, but B-Secur is embedding this into latest smart watches, cars and even clothing and is already selling to some of the world’s largest technology companies.
In recent months the company has signed significant contracts with international customers, and the latest round of funding will be used to deliver on these contracts which are in their core tech wearables market which encompasses traditional fitness trackers to smart watches and medical application patches.
B-Secur, which has offices in Belfast’s Innovation Centre, employees 35 scientists and engineers, but will look to hire additional staff in Belfast and engineering staff in its customer regions including US and China.
Chief executive Alan Foreman said: “Despite a difficult backdrop of Covid-19 and economic uncertainty, our Heartkey software is enabling new features in technology and has generated further demand as a direct result.
“Not only are people increasingly keen to understand their state of health and wellness including conditions such as stress and anxiety, an unfortunate effect of the pandemic appears to be an increased instance of heart related, and potentially life threatening, conditions.
“Hospitals are already struggling to cope with demand, so it is our hope that we can enable personal ECG monitoring in everyday devices such as smart watches.”
Kernel Capital partner Siggi Saevarsson said: “The worldwide pandemic is accelerating demand for connected devices that can monitor all aspects of human health and wellbeing. The world class team at B-Secur and their patented technology is uniquely positioned to play a key role in the development of this next generation of smart devices.”