Angels in MedCity support neonatal care specialist, mOm Incubators, as part of Â£630k investment round
24th September 2016
London based Medtech start-up, mOm Incubators has secured an investment round following support from the Angels in MedCity programme.
The round included investment from the London Co-Investment Fund (LCIF) as part of a wider investment syndicate of over £600k. The company was founded by Loughborough University graduate, James Roberts, to make neonatal care more affordable and accessible around the world. The mOm incubator, a patent pending and inexpensive inflatable incubator, is the first in a range of products that keep this ethos. mOm was awarded the 2014 global Sir James Dyson award for innovation and is a winner of the 2015 Mass Challenge UK accelerator programme. The investment will be used to manufacture clinical prototypes, initiate the CE marking process and file patent applications in multiple regions.
James Roberts, mOm CEO, comments, “It is still mind blowing for me to see my project, which was originally conceived in my final year of university, go on to become a reality and secure funding from a great team of investors. This is just the beginning, and we are working hard to bring the product to market and ensure it is able to have widespread impact in helping to reduce premature deaths”.
Anthony Clarke, LBA CEO, comments, “mOm incubators has developed a highly innovative incubator product which has the potential to disrupt how neonatal care is delivered in both the developed and developing worlds. I am delighted that the Angels in MedCity programme was able to support the mOm team in raising a substantial investment round that comprised of a number of high calibre investors.”
Puneet Bhatia, LCIF Fund Manager, comments, ‘’mOm incubators is exemplar of how technology can rejuvenate traditional healthcare services to save more lives and we are delighted that our investment via LCIF will enable mOm Incubators to expand their operations and deliver affordable neonatal care across the world.