Nudjed closes £350,000 funding round

Health data company Nudjed has closed a £350,000 funding round in a bid to disrupt the booming medtech market.

The firm has welcomed Pragmatica to its investment pool and has also received further backing from Finance Wales, the Welsh Government’s investment arm.

For the last twelve months, the start-up has been expanding its work in the public health sector and developing new products for its customers.

It’ll use the latest round of investment for research and development in what it calls “exciting new scientific areas” and to scale the business further afield.

Ashley Cooper, chair of the advisory board at Nudjed, believes the company’s latest funding round and the addition of Pragmatica as an investor will help it grow even further.

“We are delighted to welcome Pragmatica to the Nudjed Shareholder Group and to the Board. Pragmatica joined lead investor Finance Wales in this funding round,” he said.

“It will bring significant sector experience to the company. This latest funding round will accelerate the growth of the business in delivering disruptive technology to the health tech space.”

Paul Teather, managing partner at Pragmatica, explained that his firm had been looking to invest in a digital health firm for a while and then found Nudjed.

He said: “We have been looking for some time to find the right vehicle in the fast growing but fragmented digital health segment, and we are very excited to confirm we are working with the team at Nudjed.

“We believe that Nudjed has the leadership and capabilities necessary to make a significant impact on the digital health market through its vision of perceptual health, where an individual’s health intention can be understood and harnessed to improve their quality of life.”

Phil Barnes, the Finance Wales investment executive who structured the deal, said: “We are delighted to have closed this second round investment into Nudjed.

“Nudjed was one of the earliest investments from Finance Wales’ Technology Seed Fund, and we are very pleased to be able to further support this innovative company.”