Catapult, Mercia in funding round for Rinicare

The round amounted to approximately £1m, Unquote understands. The Manchester-based company will use the fresh capital to support the commercialisation of its digital healthcare portfolio. It will also progress its AI-powered predictive algorithm for intensive care – Rinicare stated that this emerging area of healthcare is estimated to grow at a compound annual growth rate of more than 25%.

NPIF - Mercia Equity Finance is managed by Mercia Fund Managers and is part of the Northern Powerhouse Investment Fund (NPIF). The project is supported by the European Union, using funding from the European Regional Development Fund and the European Investment Bank.

Company
Established in 2002, Rinicare develops and markets healthcare products based on proprietary wireless communication technology, predictive algorithms, artificial intelligence, computer vision, Internet-of-Things and big data. The company is headquartered in Alderley Park, Manchester; it also has R&D capabilities in Lancaster, UK, and Ramada, Portugal.

People
NPIF - Mercia Equity Finance – Mark Wyatt (investment director).
Catapult Ventures – Vijay Barathan (life science partner).

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