A digital therapeutics start-up which uses augmented reality (AR) glasses to aid people suffering from disorders including Parkinson’s disease and multiple sclerosis will this week announce a £10m funding injection.
Sky News understands that Strolll, which was founded five years ago, has secured the new capital in a round led by IW Capital, which has backed other fast-growing UK SMEs including Daily Dose and Transcend Packaging.
Strolll assists patients by using specially developed games to enliven physiotherapy exercises, in both clinical and residential environments.
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The company says that its clinical trials have shown that clinicians using its technology are able to offer up to seven times the level of treatment while utilising two-thirds less staff time, allowing healthcare services to provide patient care more effectively and efficiently.
Strolll said on Tuesday that it would use its new investment to accelerate sales and marketing activities, extend its product range, and to target additional neuro-related disorders.
Last year, it commenced a three-year, £2.4m project grant-funded by the National Institute for Health and Care Research with the University of Leeds, University of York and four leading NHS trusts to conduct a randomised controlled trial of Strolll as a therapeutic treatment for patients with Parkinson’s disease.
It also entered the US market in a $3m collaboration with US healthcare provider Cleveland Clinic, with the latter becoming a shareholder in Strolll.
Strolll’s latest funding comes as an ageing population means that neurological disorders such as Parkinson’s disease are becoming increasingly prevalent.
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“Strolll is transforming the physiotherapy and neurorehabilitation markets and have already helped a significant number of people with debilitating neurological disorders to live better lives,” said Isobel Egemole, IW Capital’s investment director.
“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.”
