ReneuralTM Raises £200K in Pre-seed Funding Round Led by SFC Capital, with an Additional £275K in Support from Innovate UK
Hatfield, UK – 6th November 2024 – Reneural Technologies Limited, formerly known as CardioCrown, is addressing the critical gap in effective and continuous rehabilitation for stroke survivors with its innovative approach to enhance patient outcomes, reduce clinician burnout, and lowes healthcare costs. The company facilitates early discharge from hospitals, improves patient engagement and compliance, while enabling efficient remote care.
With this funding, ReneuralTM plans to grow its VR therapy offerings and expand into mental health support for stroke survivors. The company’s long-term vision is to become a leader in neurorehabilitation, using innovative technologies to improve patient outcomes while reducing the strain on healthcare systems.
The funding round was led by SFC Capital, alongside undisclosed investors, and was completed in conjunction with Innovate UK’s Investor Partnerships SME Round 7. “We’re excited to have led the investment into Reneural and to support the team on their journey to improve rehabilitation for stroke survivors. What really impressed us was their passion for tackling this problem, and we’re looking forward to seeing their impact on patient outcomes through their new VR products and mental health support.” Ed Stevenson, Investment Executive at SFC Capital.
Co-founders Victor Harabari (CEO) and Heraldas Gaspariunas (COO) stated: “We are excited to have such an incredible group of investors supporting our mission to leverage technology in transforming healthcare delivery, improving access, quality, and efficiency for both patients and clinicians.”
Innovate UK Funding
Innovate UK’s Investor Partnerships is known for supporting highly innovative UK businesses with significant growth potential by helping them access the finance needed to scale. The NeuroMindXRTM project will address the often-overlooked mental health needs of stroke survivors, focusing on the complex challenges that arise post-stroke and are insufficiently addressed by conventional therapies. By leveraging Extended Reality (XR) technology, this scalable and quickly deployable solution enhances both mental health care and neurorehabilitation experiences for stroke survivors.
Key Achievements to Date
ReneuralTM has made significant advances in development, with support from Innovate UK’s FastTrack programme in November 2022, securing £50K to build the proof of concept for its Neurorehabilitation platform. The first clinical investigations are set to take place in January, 2025 with support from HTCC SME Accelerators in partnership with University of Hertfordshire. The company is working closely with healthcare professionals and experts to ensure the platform’s success and adoption across clinical pathways, both in hospital settings and at home.
About the Founders
Victor Harabari, CEO of ReneuralTM, has a strong background in biomedical engineering with a specialisation in medical devices. His expertise, combined with COO Heraldas Gaspariunas’ operational leadership, positions ReneuralTM to make a significant impact in the neurorehabilitation space.
About ReneuralTM
ReneuralTM is an innovative neurotech company addressing the critical needs of stroke survivors by offering a comprehensive Neurorehabilitation platform that integrates cutting-edge technologies including virtual reality (VR), robotics, electromyography (EMG), and functional electrical stimulation (FES). The platform is designed to improve patient outcomes, reduce healthcare costs, and ease the burden on clinicians by supporting remote care. Formerly known as CardioCrown, ReneuralTM is dedicated to closing the gap in continuous rehabilitation, with a focus on physical, visual, cognitive, and mental health therapies in a single, cohesive platform, ensuring personalised long-term care. To learn more about what we do, visit reneural.tech
About SFC Capital
SFC Capital is the UK’s most active seed-stage investor, providing seed capital and support to promising British startups. By combining our leading investment funds with our angel syndicate, we have created a unique model that provides investors with diversified exposure to high-potential SEIS and EIS-qualifying businesses. Since 2012, SFC has invested in over 450 startups and partnered with the likes of British Business Investments to support innovation across all UK regions. To learn more about what we do and see our portfolio, visit sfccapital.com.
