Applied Monitoring Boosts Funding for Fitness Monitor
Deal News | Feb 11, 2025 | Mercia Fund Management (Mercia Ventures)
Applied Monitoring, a Sunderland-based company, has secured an additional £500,000 from the North East Venture Fund, managed by Mercia Ventures, to further develop their innovative fitness monitor technology. This funding, backed by the European Regional Development Fund, aims to bring the company's non-invasive blood lactate monitoring device to market within the next year. The technology, which eliminates the need for regular fingerprick tests, has piqued the interest of major fitness and wearables brands. Applied Monitoring plans to expand the device's use into hospital settings for sepsis detection, with additional potential applications such as glucose monitoring.
Sectors
- Healthcare Technology
- Wearable Technology
- Venture Capital
Geography
- United Kingdom – Applied Monitoring is based in Sunderland, UK, and the investment discussed is managed by a fund that supports regional developments in the UK.
- European Union – The investment is supported by the European Regional Development Fund, highlighting the EU’s interest in regional innovation initiatives.
Industry
- Healthcare Technology – The article discusses the development of a health monitoring device that can measure lactate levels and potentially detect sepsis, illustrating its role within healthcare technology.
- Wearable Technology – Applied Monitoring's device is positioned to integrate with wearables like smartwatches, indicating a focus on wearable technology development.
- Venture Capital – The funding aspects initiated by Mercia Ventures underscore the involvement of venture capital in driving technological innovation and market entry.
Financials
- £500,000 – Additional funding raised by Applied Monitoring from the North East Venture Fund for development and commercialization.
- £1,000,000 – Total amount raised by Applied Monitoring to date, including the latest funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Applied Monitoring | Target Company | Company | A Sunderland-based company developing innovative sensors for healthcare and fitness applications. |
| Mercia Ventures | Investor | PE Firm | A venture capital firm managing the North East Venture Fund, providing financial backing for innovative startups in the UK. |
| North East Venture Fund | Investor | Fund | A regional fund supported by the European Regional Development Fund, aimed at driving innovation and business growth in the North East of England. |
| European Regional Development Fund | Supporting Entity | Government | A structural fund from the European Union promoting economic development across EU regions. |
| Jon Dixon | Co-founder and CEO | Person | Co-founder of Applied Monitoring overseeing the development and market strategy of their innovative monitoring technology. |
| Rob Connell | Co-founder | Person | Co-founder of Applied Monitoring, contributing expertise in informatics and healthcare sensor technology. |
| Ian Wilson | Representative of Mercia Ventures | Person | An executive at Mercia Ventures, commenting on the strategic importance of the investment in Applied Monitoring. |