Belfast-based digital health technology company Cumulus Neuroscience has successfully closed a £3.25 million equity funding round that will be used to scale up its commercial operations.
The funding round was led by a £1.5m investment from Whiterock's Growth Capital Fund, alongside £1.25m from the Investment Fund for Northern Ireland's equity fund, run by Clarendon Fund Managers, another £300,000 from Angel CoFund and £200,000 from Co Fund NI.
Cumulus is headquartered in Belfast at Catalyst in the Titanic Quarter, where the majority of its 31 employees are based, with a second location in Dublin.
It generates the data and insights required to accelerate the diagnosis and management of central nervous system (CNS) disorders for millions of patients and caregivers around the world. Cumulus is currently focused on advancing neuroscience clinical trials and patient care through improved data and AI with the NeuLogiq platform.
The platform uses a novel dry sensor EEG headset which received FDA clearance in 2023 and tablet-based assessments to measure brain function across multiple domains, including cognition, mood, and language.
Its chief executive Tina Sampath said: "There is a substantial unmet need today in neuroscience clinical studies. Biopharma companies need objective data to effectively establish baseline information about whether a drug is engaging with the region of the brain that a particular drug is targeting. The NeuLogiq platform was purpose built in collaboration with ten top biopharma companies to address the limitations of traditional neurological assessments."