UCD health tech spinout Kinesis Health Technologies has closed its first investment round and secured €590,000 for its intelligent health diagnostic devices, according to the company.
The funding was raised from private investors and a High-Potential Start-up (HPSU) investment of €100,000 from Enterprise Ireland.
Kinesis is developing wearable sensor-based technologies that are used by healthcare professionals to improve their ability to identify those patients at risk of falls. They can also help to quantify a patient’s response to therapy and rehabilitation, and to assess patients for neurological disorders.
The company has already secured clients in Ireland, UK, US, Canada and Australia, and aims to expand commercial activities in these countries, and in new territories, over the next 18 months. Kinesis was founded in 2013 by Seamus Small and Dr Barry Greene, and is currently headquartered at NexusUCD.
Commenting on the fundraiser, Seamus Small (CEO) said: “This funding will enable us to expand our engineering and commercial teams and grow sales of our intelligent health diagnostic devices, which are addressing a major problem in the global health industry, in the area of mobility and falls risk assessment and gait assessment in older adults.”
In Association with
An October 2016 allotment document for Kinesis discloses equity investment of €339,000 from a number of private investors.
The company booked a net loss of €163,000 in 2015 and had a negative net worth of €148,000 at year-end.
Photo: Colm MacFhionnlaoich (left), Enterprise Ireland, with Kinesis founders Barry Greene and Seamus Small (right) (Pic: Nick Bradshaw)
