Digital therapeutic software company Strolll has raised £10.4m in a Series A funding round to accelerate its sales and marketing activities.
The funding will also be used to extend its product leadership and expand the regulatory level, which will allow the Staffordshire-based firm to target more neuro-related disorders.
The company uses augmented reality glasses to provide clinically proven and patented neurorehabilitation to patients living with neurological disorders and the funding round was led by IW Capital.
Strolll has created the ‘world’s first’ clinically validated digital therapeutic software platform, which blends digital content with the real world through the use of off-the-shelf augmented reality glasses and is aimed at helping people living with neurological disorders such as Parkinson’s disease, stroke and Multiple Sclerosis.
It enables patients to undergo therapy both within in-clinic and at-home settings, ensuring that patients can receive an increased dose of rehabilitation as compared to current standard care practices. The business has been successful in completing clinical trials.
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In the same year it entered the US market in a $3m collaboration with US healthcare provider, Cleveland Clinic.
The deal saw Cleveland Clinic transfer IP to Strolll in an exclusive software licensing agreement and become a shareholder in Strolll.
“Strolll is at an exciting inflection point in our journey and we are delighted to be partnering with IW Capital, as well as other investment partners, as we look to accelerate the growth of our business,” said Jorgen Ellis, CEO of Strolll.
“We are positioned at the forefront of the neurorehabilitation market and we’re passionate about helping to improve the care that patients with neurological disorders receive.
“We thank investors for believing in our vision of healthcare and we look forward to building on our achievements to date.”
IW Capital’s investment director, Isobel Egemole, added: “IW Capital are thrilled to announce our investment into Strolll. Strolll are transforming the physiotherapy and neurorehabilitation markets and have already helped a significant number of people with debilitating neurological disorders to live better lives.
“The potential impact of their software is huge and we’re proud to be backing this cutting-edge business as it addresses key healthcare needs.”