uMotif completes healthy raise of £2.4m
Healthtech company uMotif has raised a £2.4m ‘rocket fuel’ injection to fire up its recruitment drive. The funds came from a round led by Albion Capital along with several angel investors.
It says the software is used by pharma giants such as AstraZeneca and Novartis across Europe and the US.
Co-founders Bruce Hellman and Ben James will use the funds to expand their team and continue developing their product.
“We see this investment as adding rocket fuel to fire that’s already burning brightly. It will enable us to bring on even more world class talent and remain at the forefront of patient-centric technology,” said Hellman.
Albion Capital partner Andrew Elder said: “uMotif has developed a game-changing product for the health and pharma industries, opening new doors to creating more successful treatments, enabled through unprecedented patient engagement.
“Since launching five years ago, Bruce and Ben have done a fantastic job in positioning uMotif as one of the world leaders in a field which is notoriously hard to penetrate with new technology.”