NovaUCD mobile firm raises €2.5m

19 Dec 2006

A University College Dublin (UCD) campus company that delivers personal health monitoring technologies via mobile phones has secured €2.5m in venture capital investment.

BiancaMed, whose target markets are the fast-growing mobile and home health sectors, was set up in 2003 and is based in NovaUCD, the start-up incubation facility at UCD.

The investment funding round in BiancaMed was oversubscribed and was led by DFJ ePlanet Ventures with participation from existing corporate investor ResMed.

The company’s vision is to provide easy-to-use mobile phone and home-based wellness and health monitoring technologies and services for use in daily life.

Increasingly stressful lifestyles, a rise in chronic diseases and obesity and an ageing population are directly contributing to skyrocketing healthcare costs.

BiancaMed’s mobile phone and home-based technology empowers individuals to better manage their wellbeing and health.

Speaking about the investment, Dr Conor Hanley, CEO of BiancaMed, said: “BiancaMed is delighted to have secured this significant investment from such a prestigious global investor, with a proven track record in growing successful medical technology companies.

“The money raised will be used to accelerate our technology development and our entry into rapidly growing markets that are expected to be very large,” Hanley said.

By John Kennedy