UCD spinout Kinesis Health Technologies has raised €590,000 in funding as it seeks to boost international sales of its intelligent diagnostic devices.
The funding round consisted of a consortium of private investors alongside a high-potential start-up (HPSU) investment from Enterprise Ireland.
Kinesis was founded in 2013 by Seamus Small and Dr Barry Greene as a spin-out from the Technology Research for Independent Living (Tril) centre at UCD. It is currently headquartered at NexusUCD, the university's industry partnership centre.
The company, which already has secured customers in Ireland, the UK, the US, Canada and Australia, said it was looking to expand commercial activities in these countries and in new territories over the next 18 months.
Kinesis has developed a new proprietary technology that uses wearable sensor-based devices to improves the accuracy of falls-risk assessments.
The Quantitative Timed Up and Go product was developed on the back of an intensive, six-year joint study into falls conducted by the Tril centre, Trinity College Dublin, Intel and GE Healthcare.
A second product, Kinesis Gait, which is a portable and flexible tool for use in clinical trials to assess rehabilitation improvements and to assess for neurological disorders such as multiple sclerosis and Parkinson’s disease, was recently released.
“This funding will enable us to expand our engineering and commercial teams and grow sales of our intelligent health diagnostic devices which are addressing a major problem in the global health industry in the area of mobility and falls-risk assessment and gait assessment in older adults. The funding will also enable us to develop and to enhance our technologies further,” said Mr Small.