B-Secur Investment as COVID-19 accelerates demand. Kernel Capital are pleased to confirm that it has increased its investment in B-Secur Ltd, a Belfast-based Health Tech Company to £1.45M. Existing co-investors Accelerated Digital Ventures and new investors Clarendon Fund Managers, have also participated in the latest investment round which completed in August 2020.
B-Secur has developed a world first software technique that uses an individual’s unique heartbeat pattern, known as electrocardiogram (ECG) in everyday technologies to securely identify, and provide health and wellness insights at the same time. Medical grade ECG recording traditionally happens in the hospital environment using expensive equipment, but B-Secur are embedding this into latest smartwatches, cars and even clothing and are already selling to some of the world’s largest technology companies.
In recent months B-Secur has signed significant contracts with international customers. This round of funding will be used to deliver on these contracts which are in their core tech wearables market which encompasses traditional fitness trackers to smartwatches and medical application patches. The Company, which has offices within Belfast’s Innovation Centre, Catalyst, employees over 35 scientists and engineers and will look to hire additional staff in Belfast and engineering staff in their customer regions including US and China.
“The worldwide pandemic is accelerating demand for connected devices that can monitor all aspects of human health and wellbeing. The world class team at B-Secur and their patented technology is uniquely positioned to play a key role in the development of this next generation of smart devices. Kernel Capital is excited to continue our strong support of the company as it continues its growth.”
Siggi Saevarsson, Partner, Kernel Capital
“We are delighted to receive this injection of investment from Kernel and our other investors so we can continue our work with existing customers and advance new customer applications. Despite a difficult backdrop of COVID-19 and economic uncertainty, our Heartkey software is enabling new features in technology and has generated further demand as a direct result. Not only are people increasingly keen to understand their state of health and wellness including conditions such as stress and anxiety, an unfortunate effect of COVID appears to be an increased instance of heart related, and potentially life threatening, conditions such as Arrhythmia. Hospitals are already struggling to cope with demand, so it is our hope that we can enable personal ECG monitoring in everyday devices such as smartwatches.”
Alan Foreman, CEO, B-Secur
The Bank of Ireland Kernel Capital Growth Fund (NI) was designed to help SMEs in Northern Ireland to accelerate their growth. Invest Northern Ireland has committed £15m of funding to this fund which is part financed by the European Regional Development Fund under the EU Investment for Growth and Jobs Programme 2014-2020.