A Glasgow-based healthcare data start-up has secured a six-figure funding injection to support its growth plans.
Talking Medicines – founded by Jo Halliday, Scott Crae and Elizabeth Fairley – has agreed its first institutional investment as part of a new funding round worth £622,000.
Founded in 2013, the venture has developed and launched an app, called Medsmart, which can help patients better manage their medicines at home.
The latest funding round was led by SIS Ventures, and included investment from private investors and founders of the business, as well as the Scottish Investment Bank. It takes the amount raised by the company to £1.2 million for Medsmart over the past two years.
Halliday, who is the firm’s chief executive, said: “This latest investment round demonstrates the growing support around the vision of enriching the experience of patients and understanding how their medicines are being taken.”
Thomas Gillan, director, SIS Ventures, said: “We’re delighted to have made our first investment in such a purpose-led, impact-focused business as Talking Medicines. Although still a young company, Talking Medicines has established strong initial traction with consumers, pharmaceutical companies and the investor community.
“Working with Jo and the team, we’re looking forward to supporting them on their journey to becoming the global gold standard for real world insights on consumer usage of medicines.”
Kerry Sharp, director of the Scottish Investment Bank, the investment arm of Scottish Enterprise, added: “This deal represents an exciting progression in the growth of Talking Medicines.”