BioBeats Closes £2.4M Funding Round; Renewed Focus on Revolutionising the Global Wellbeing and Digital HealthCare Markets

  • The latest funding round will enable the company’s vision to deliver wellness intelligence solutions at scale for individuals and workforces

LONDON--()--BioBeats, the leader in digital health and artificial intelligence, recently closed a £2.4M funding round led by Oxford Sciences Innovation (OSI), White Cloud and IQ Capital. The new investment will support the company as they focus on delivering their cutting-edge wellness solutions to a global audience.

BioBeats creates evidence-based wellbeing products that help transform people’s lives for the better. Through harnessing user data, artificial intelligence, and human insight, BioBeats provides an ever-improving cycle of evidence-based interventions, finding patterns that link stress to health risks and physical outcomes.

Since 2013, BioBeats has conducted a number of successful clinical trials with BUPA, AXA, and the Center for Digital Economy at the University of Surrey. The trials have been focused on gathering proof of the efficacy and feasibility of BioBeats workforce wellbeing management platform. The team subsequently won two UK government awards through InnovateUK (as part of the IC Tomorrow programme) for clinical excellence and adaptive media innovation. The company is also currently one of the world leaders in the IP space with academic validation published in the Frontiers of Human Neuroscience Journal in January 2017.

In 2015, together with AXA and BNP Paribas, BioBeats conducted the largest UK focused pilot of employee wellbeing. Using their proprietary AI technologies and their BioBase smartphone app, BioBeats was able to assess employee stress in real-time using wearable devices. Since successful completion of the pilot, the company has built their wearable solution, a secure API, and a cloud platform ready to scale.

Speaking about the raise, Dr. David Plans, Founder and CSO of BioBeats, said: “For BioBeats, our vision is to disrupt the way stress is viewed and treated on a global scale. Our approach focuses on challenging the conventional approach to addressing the pandemic of stress and its relation to mental health, cardiovascular disease, and other poor health outcomes; we are truly at a turning point in the digital health revolution, and this latest round of funding will help us achieve remarkable advances for our platform.”

“We’re immensely proud to be supporting the BioBeats team, both because the team is unparalleled in its vision and capability, but also because the company is addressing one of the biggest challenges of our time,” stated Lilly Bussmann, Principal at OSI. “Mental health is the biggest cause of disability-adjusted life years across any non-communicable disease worldwide. And yet, due to the complexity of the problem at hand, few of the analytics and intervention tools needed for transformative change have emerged. This is where BioBeats comes in and hence why we’re so thrilled to be working with the team.”

With the support of OSI, BioBeats will embark on a new era of innovation and experimentation. This year, both Dr. David Plans and Dr. Davide Morelli, two of the company’s founders, will begin their doctoral work within Experimental Psychology and Biomedical Engineering under the supervision of academic groups at Oxford University. This new chapter will bring BioBeats' existing technology and research to a new level of peer review and validation.

BioBeats groundbreaking app, BioBase, offers users the ability to track, manage and control stress. It is currently the only wellbeing and stress management app on the market to do so. The company’s offering not only allows users to track stress levels, but also educates users on how to reduce stress and helps them identify their personal stress triggers.

Plans concluded, “BioBeats has a distinct competitive advantage in the marketplace, we are the only science-backed technology focusing on stress management and wellness from the AI perspective, and we have been doing this successfully longer than anyone else. With this investment, we aim to expand our reach and product capabilities, and ultimately provide evidence that predictive analytics and AI could change mental health care delivery globally.”

Tweet this! @joinBioBeats raises over £2m in latest funding round - investment will enable vision to deliver wellness intelligence solutions at scale #mentalhealth #medtech #digitalhealth #stressmanagement #wellbeing

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About BioBeats
BioBeats is a digital health and artificial intelligence company that specialises in creating easy-to-use corporate and personal wellness solutions. Its world-class team of scientists and designers includes renowned experts in AI, machine learning, wearables, cloud solutions and theoretical computer science. BioBeats solutions, based on years of research, provide insights into individual health and wellbeing by tracking data from wearable and smartphone sensors. Biometric and psychometric feedback is combined with unique machine learning algorithms to deliver personalized stress and productivity management tools based on clinically proven coaching techniques.

About Oxford Sciences Innovation
Oxford Sciences Innovation (OSI) is an Oxford-based investment company. OSI has raised over £600 million to invest and accelerate companies spun out of Oxford University. Investors in OSI include Google Ventures, Tencent, Temasek, Lansdowne, Red Mile Group, the Wellcome Trust and Oxford University’s own endowment fund.

About White Cloud Capital

White Cloud Capital is a private family oriented investment company that invests in strategic growth capital and venture capital in fast growing companies in selected industries primarily in Europe and Asia-Pacific. We invest in both family-oriented and entrepreneur-led businesses and are happy to take minority or majority positions.

Our investors are families from across Asia-Pacific, Europe, and North America. Our cornerstone investor is the BXR Group. We are supported by an Advisory Board of senior, highly experienced industrialists, entrepreneurs and former CEO’s and CFO’s.

About IQ Capital
IQ Capital is a Cambridge-based venture capital firm that invests in UK ‘deeptech’ across sectors including machine learning, AI, engineering and materials, and data-focused propositions based on disruptive algorithms. All the firm’s portfolio companies are potentially capable of dominating their respective markets on a global scale.

The team typically invest at seed and series A stage, with significant capital reserved to scale portfolio companies through their growth stages. Initial investments typically range from £0.3m to £5m, with capacity to invest up to £10m per company over its life. IQ Capital’s current portfolio includes leading deeptech companies such as Speechmatics, Privitar, Thought Machine, Audio Analytic, Oxford Space Systems, Fluidic Analytics, Divido, Senseye and Spectral Edge.

The IQ Capital team has achieved over 20 exits to date including trade sales to Oracle, Google, Apple and Huawei and several IPOs. IQ Capital has led 22 deep-tech investments over the last three years and expects to invest in 10-15 new companies per annum.

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