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Hat-trick of funding awards for Inova Design

Surrey SETsquared member, Inova Design, continues to go from strength to strength and has recently announced two successful funding awards plus an investment round.

  • The UK’s innovation agency, InnovateUK, has awarded Inova a Smart Funding Award of £246,000 to co-finance the pre-production development phase of Inova’s novel technology, after which they will begin to ramp up for manufacture.
  • For the third consecutive year, Inova has received a funding award from InnovateUK, for technology-inspired innovation to increase the functionality of their technology.
  • Inova recently closed a SEIS investment round of £125,000 to match fund its grant awards and fuel the business to its next major milestone, and expects to raise additional investment in the near future.

Inova’s product, Bodytrak™, is a miniature, non-invasive in-ear device which measures the suite of vital signs along with physical activity and sends data to the user in real-time via a smart phone, smart watch or internet hub.

The benefits are substantial. In sport, Bodytrak™ will enable improved performance by monitoring the suite of body parameters rather than just activity or single parameters as offered today. In defence, it will enable quicker intervention of medical emergencies where there are currently no ambulatory monitoring solutions, and in healthcare it will help to reduce the resource burden of the ever increasing number of chronic illness patients.

Leon Marsh, CEO & Founder of Inova Design says: “These three tranches of funding are vital to the company’s growth now that we’re entering the pre-production phase and continuing to innovate. We would like to thank InnovateUK for their continued support as well as our investors and look forward to bringing our product to market in the near future.”

To find out more, visit Inova’s website

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