Careloop advances with new headquarters in Manchester's innovation district
Deal News | Jan 30, 2025 | Business Cloud
Careloop, a MedTech company and University of Manchester spinout, has secured £1.8m in seed funding to expand its digital therapeutic platform aimed at addressing severe mental illnesses. The round includes investment from the GMC Life Sciences Fund by Praetura, NPIF II Praetura Equity Finance, Verge, and SFC Capital. Following this investment, Careloop plans to broaden its technological scope to cover other severe mental conditions and is preparing to establish its first headquarters in Manchester's new £1.7bn Sister innovation district. CEO Zo Blake emphasized the company's mission of providing accessible care to those with enduring mental health issues, supported by NICE's approval and over a decade of data. The investment will help Careloop scale its operations and technology deployment, notably within the NHS and globally, reflecting the prowess of University of Manchester spinouts.
Sectors
- MedTech
- Venture Capital
Geography
- United Kingdom – Careloop is based in Manchester, and the funding involves UK-based investors, situating the story within the UK context.
Industry
- MedTech – The article revolves around Careloop, a MedTech company focusing on digital therapeutics for severe mental illness.
- Venture Capital – The funding round, involving several prominent venture capital investors, highlights the industry's role in supporting innovative start-ups.
Financials
- 1.8m – Seed funding amount raised by Careloop to expand its operations.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Careloop | Target company | Company | A digital therapeutic platform focusing on severe mental illness, based in Manchester. |
| GMC Life Sciences Fund By Praetura | Investor | Company | A fund providing investment and support to life sciences and MedTech companies. |
| NPIF II Praetura Equity Finance | Investor | Company | An investment fund supporting business growth across Northern England. |
| Verge | Investor | Company | An investment entity involved in the seed round for Careloop. |
| SFC Capital | Investor | Company | A venture capital firm providing seed investment to high-potential start-ups. |
| Zo Blake | CEO of Careloop | Person | CEO of Careloop, leading its mission to enhance mental health solutions. |
| Sim Singh-Landa | Investment Director at GMC Life Sciences Fund by Praetura | Person | Investment director involved in supporting Careloop's growth. |