Circadacare: Pioneering Elderly Care with £500k Funding Boost
Deal News | Apr 03, 2025 | Northstar Ventures
Circadacare, a healthtech company based in Newcastle, has secured over £500,000 in funding to further develop its innovative product, Heleos. This funding includes £250,000 from Northstar Ventures through a fund supported by the European Regional Development Fund, alongside contributions from angel investors and a government grant. Heleos is designed to aid elderly individuals and those with dementia by using circadian rhythm technology to improve sleep-wake cycles and reduce fall risks. The product also discreetly collects data to alert caregivers and healthcare professionals to potential issues, enhancing care outcomes. Northstar Ventures' investment aims to strengthen Circadacare's partnerships and improve elderly care quality. This funding is timely as it supports Circadacare's expansion and technological enhancements. Circadacare is collaborating with local care homes and authorities to implement Heleos. The company's efforts have been recognized by multiple Innovate UK grants and the Longitude Prize in Dementia.
Sectors
- Healthcare Technology
- Venture Capital
- Elderly Care
Geography
- United Kingdom – The article discusses Circadacare, a UK-based company, and the funding from UK investors and government grants.
- European Union – European Regional Development Fund support underscores the EU's involvement in regional development initiatives.
Industry
- Healthcare Technology – The article centers on Circadacare's development of Heleos, a technological solution designed to improve elderly care.
- Venture Capital – Northstar Ventures' investment in Circadacare highlights the role of venture capital in funding innovative technological solutions.
- Elderly Care – Circadacare's Heleos specifically targets the needs of the elderly and those with dementia, addressing key issues in the sector.
Financials
- £500,000 – Total funding secured by Circadacare.
- £250,000 – Investment from Northstar Ventures.
- £255,000 – Investment from new and existing angel investors alongside a grant.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Circadacare | Target | Company | A Newcastle-based healthtech company focused on solutions for elderly care. |
| Northstar Ventures | PE Firm | Company | A venture capital firm investing in early-stage and impactful social enterprise sectors. |
| Innovate UK | Funding Provider | Government | The UK government agency providing grant support to UK businesses. |
| European Regional Development Fund | Funding Provider | Government | A fund aimed at strengthening economic and social cohesion in the European Union. |
| Longitude Prize in Dementia | Funding Provider | Charity | A fund aimed at fostering innovation in dementia care. |