Kernel Capital leads €2.25m funding round for Nova Leah

The round saw the participation of Suir Valley Ventures, which invests equity tickets between €300,000-1m in European early-stage companies.

Nova Leah plans to use the proceeds of the investment to scale up its team, further develop its product roadmap and consolidate its presence in the marketplace.

Kernel invested €1.5m via its Bank of Ireland Kernel Capital Growth Fund ROI, which closed in 2015. This vehicle deploys equity tickets between €1-5m in startups based in the Republic of Ireland.

Previous funding
Nova Leah received an investment of an undisclosed amount in October 2017 from government agency Enterprise Ireland and venture capital house Cosimo Ventures.

Company
Founded in 2015 and headquartered in Dundalk, Nova Leah provides medical device manufacturers and healthcare operators with an automated solution for implementing and maintaining cybersecurity requirements, improving patient safety and reducing associated regulatory costs.

The company's key product is SelectEvidence, a risk analysis system able to manage cybersecurity throughout the lifetime of various medical devices, including insulin pumps, pacemakers, infusion devices and syringe pumps. The system tracks risks for each device, highlights known vulnerabilities, recommends solutions and provides a feedback mechanism between manufacturers and hospitals.

People
Kernel Capital - Jayne Brady (partner).
Nova Leah - Anita Finnegan (CEO).

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• Topics
• Early-stage
• UK / Ireland
• Technology
• Ireland
• Venture