Lumana Invest has made an EUR 0,5 million investment in Dutch medical chip company firm Sencure.
Sencure will develop an ultra-low power biometric sensing chip offering wearable biometric solutions across a wide range of applications for medical technology companies. The comprehensive uses of the technology include easier (remote) patient monitoring and diagnostics for cardiac cases, COPD (Chronic obstructive pulmonary disease), children’s asthma, neurological cases and Electroencephalogram (EEG) recordings, as well as enabling ICU grade ventilation and monitoring of vital signs. It can be used across multiple products, for monitoring COVID-19 symptoms, enabling better training or rehabilitation for athletes and more generally to monitor stress and activity levels in people’s daily lives.
Sencure’s biometric sensing chip is the result of five years’ effort in designing electronic systems and signal processing algorithms for electrophysiological diagnostic and monitoring systems to deliver medical-grade accuracy. It is set to significantly outperform medical chips from current manufacturers in terms of both price and quality. Competitive advantages include a much lower power consumption and smaller size, allowing for wide-scale market adoption.
Lumana Invest, together with EUR 1 million from co-investor Cottonwood Technology Fund’s, will be used for filing patent applications to protect Sencure’s unique IP, as well as for development and the global rollout of Sencure’s products. This investment allows Lumana & Cottonwood to support the remote patient monitoring market and reduce healthcare costs on a global scale.
The global medical wearables market alone is projected to reach USD19.5 billion by 2025 from USD7.4 billion in 2020. This growth is the result of a greater uptake of mobile technologies among both patients and healthcare professionals, an increasing penetration of 4G/5G networks, a larger number of connected devices for chronic disease management, and the growing demand for home care services.