SleepCogni Strengthens Leadership and Secures New Funding
Deal News | Dec 17, 2024 | Business Cloud
SleepCogni, a Sheffield-based MedTech firm revolutionizing insomnia treatment, is advancing with significant leadership changes and new funding. The company has raised £300,000 in a pre-approved bridging round, pushing its total funding to £3.9 million, supported by existing investors and grants. This financial injection is set to sustain SleepCogni until a larger funding round in 2025, aimed at obtaining CE and FCC approvals and tapping into the global £35 billion sleep tech market. Mark Milton-Edwards, a seasoned expert in pharma and digital health, has joined as a non-executive director to drive the company's global outreach. Joseph Hawkins has been promoted to Chief Operating Officer, having contributed significantly in collaborations with the NHS and securing £2 million in funding. With a fortified leadership team, SleepCogni is poised for international scaling, underlining its mission to transform sleep health. CEO Richard Mills and Milton-Edwards underscore the potential of SleepCogni's technology in meeting a critical global need, with plans for rapid growth and international expansion.
Sectors
- MedTech
- Healthcare
- Digital Health
Geography
- United Kingdom – SleepCogni is based in Sheffield, England, and is initially targeting the UK market with its innovations.
- United States – The company is preparing for international growth, including the US, which is signified by FCC approval target and expanding sales efforts.
Industry
- MedTech – SleepCogni operates in the MedTech sector, focusing on technological solutions for insomnia treatment.
- Healthcare – The company's innovations aim to address insomnia, a severe healthcare issue, highlighting its relevance to the healthcare industry.
- Digital Health – SleepCogni's approach involves digital health solutions, evidenced by its use of machine learning and wearable technology.
Financials
- 300,000 – The amount raised by SleepCogni in an EIS pre-approved bridging funding round.
- 3.9 million – Total funding secured by SleepCogni, including the most recent round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| SleepCogni | Target company | Company | A Sheffield-based MedTech company focusing on insomnia care solutions. |
| Mark Milton-Edwards | Non-executive director | Person | An experienced pharma and healthcare technology executive who reinvested and joined the board. |
| Joseph Hawkins | Chief Operating Officer | Person | Recently promoted COO who has contributed significantly to the company's NHS collaborations and funding efforts. |
| Richard Mills | CEO | Person | CEO of SleepCogni, leading the company's mission to revolutionize sleep health. |