New ‘eyes in the skies’ as med-tech firm secures investment to scale in-flight medical monitoring
MIME Technologies, a med-tech spin-out from the University of Aberdeen, has raised a combined £255,000 from first round investment and a Scottish Enterprise grant.
Designed to revolutionise the support given to cabin crew during in-flight medical events, MIME Technologies’ innovative product can monitor a passenger’s vital signs while communicating with clinicians on the ground.
The inverness-based company’s intuitive technology captures and communicates high-quality data, and can translate vital signs data into a seamless handover to emergency services.
The investment led by Equity Gap investors and the Scottish Investment Bank – the investment arm of national economic development agency Scottish Enterprise – will be used to accelerate customer growth and create new operational and technical jobs in the firm. The company has also secured a SMART: Scotland feasibility grant for R&D in sensor technologies from Scottish Enterprise.
MIME’s product is designed specifically for environments where there is no immediate access to professional medical care. The company’s first mission is aviation; supporting cabin crew’s training to manage a medical incident using MIME software, connecting in real-time to ground-based medical support.
The company recently completed field trials with a global aviation company, with multiple commercial and business jet customers in the pipeline.
Anne Roberts, co-founder & chief executive officer, said: “Diverting an aircraft is an expensive and technically complex business. Although many carriers have voice support to doctors on the ground, it is often difficult for them to ‘review and recommend’ because of limited data.”
“With four billion passengers currently travelling around the globe per year, which is predicted to double by 2036, securing new funding will help us to meet the needs of a growing market while supporting our first sales with UK and international airlines.”
Equity Gap Director, Fraser Lusty comments: “We are delighted to be investing in the team at MIME and are excited by the opportunities that their new technology can address. The aviation industry is well aware of the cost and disruption of in-flight medical emergencies so the MIME solution is being well received and we envisage the investment will accelerate the commercial adoption.”
Kerry Sharp, Director of the Scottish Investment Bank, said: “It’s great to see MIME Technologies continue to flourish and to harness the power of data with potentially life-saving consequences. This latest investment round and the approval of a SMART: Scotland grant demonstrate SIB and Scottish Enterprise’s
continuing support for this innovative spin-out, which is strong testament to the business talent that exists in our universities.”
Founded by Dr Alasdair Mort and Anne Roberts, MIME Technologies is located in the Centre for Health Science, Inverness, which is a Scottish Life Science Hub. Supported by Highlands & Islands Enterprise, the company was a Scottish EDGE winner in 2017. Additional awards include SCDI’s Excellence in Research and Innovation award.
For more information, please contact Vickie Henry or Annie Diamond [email protected] /
[email protected] or call 0131 225 7880.
Notes to editors:
– The International Air Transport Association IATA expects 7.8 billion passengers to travel in 2036, a near doubling of the four billion expected to fly this year.
– The ‘go-to-market’ product integrates a library of the world’s leading Bluetooth ® , clinical-grade sensors to enable real-time monitoring of vital signs, allowing for the identification and tracking of patient deterioration or improvement.
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About the Scottish Investment Bank
The Scottish Investment Bank (SIB) is the investment arm of Scotland’s national economic development agency, Scottish Enterprise, operating Scotland-wide in partnership with Highlands and Islands Enterprise (HIE). SIB’s activities support Scotland’s SME funding market to ensure businesses with growth and export potential have adequate access to growth capital and loan funding.
SIB manages a suite of co-investment funds including the Scottish Co-investment Fund, the Scottish Venture Fund and the Energy Investment Fund on behalf of the Scottish Government. SIB is also an investor in Epidarex Capital’s Life Sciences Fund and is a participant in the Scottish-European Growth Co-Investment Programme with funding secured from the Scottish Government’s Scottish Growth Scheme alongside the European Investment Fund.
SIB also provides funding into LendingCrowd, Scotland’s marketplace lender providing loans to SMEs, and Maven’s UK Regional Buy Out Fund (MBO) that offers financial support for management buyouts (MBOs) and helps existing management teams acquire their businesses from their owners so they can continue to flourish. SIB’s team of financial readiness specialists help companies to prepare for new investment and access appropriate finance.