Sencure (Formerly ItoM Medical) Reports €1.5M investment from Cottonwood Technology Fund & Lumana Invest
Dutch company Sencure B.V. has received a € 1 million investment from lead investor Cottonwood Technology Fund to take the next step in the development of wearable technology in healthcare. In addition, Lumana Invest contributes € 500.000 to this investment round. Sencure originates from ItoM Medical B.V., a company founded in 2018 as the medical branch of chip development company Semiconductor Ideas to the Market (ItoM) B.V.
Chips for measuring physiological parameters
Jurryt Vellinga, CEO of Sencure: “Sencure will continue to collaborate with ItoM to develop power-efficient and high-quality integrated circuits – chips – for measuring physiological parameters such as heart activity (electrocardiogram), muscle activity (electromyography), and brain activity (electroencephalogram). These chips will empower the next generation of wearable biometric solutions and other medical devices required by the increasing shift to remote health monitoring and telehealth. In the coming years, our ambition is to produce high-quality sensor products that will have a positive impact on people’s health worldwide.”
Believe in execute and roll-out on a global scale
Alain le Loux, General Partner of Cottonwood Technology Fund: ‘’Cottonwood has known and worked with Sencure’s team members for several years now, and strongly believe in their ability to execute and roll-out on a global scale. We contacted several current and potential customers for Sencure, and learned that Sencure’s biometric sensing chip is the first in the market to be recognized by customers as ‘best-in-class technology’.’’
Breakthrough technology must be developed
Sencure plans to develop the most innovative biometric technology, thus driving the next step in the field of medical wearables. “Breakthrough technology must be developed to solve the growing problems of various patient groups. The trends of increasing healthcare expenditures and the shift to home healthcare require remote monitoring. Hence, the technology must be smaller, more power-efficient, easier to use and, above all, much more patient-friendly,’’ said Mr. Vellinga.
Speeding up innovations in medical technology
In the upcoming year, the Sencure team will expand to accelerate developments. “Our experienced integrated circuit design engineering team will be strengthened with experts in developing and marketing medical devices in order to develop truly distinctive solutions. These experts have a broad network in the healthcare industry,” said Mr. Vellinga. “In our experience, a good working relationship with scientists and the healthcare industry is essential for speeding up innovations in medical technology. Our aim is to play a crucial role in this field and we expect the first version of the new chip to be ready in Q1 2022.”
Sencure will be based on innovation campus Kennispark Twente, close to the University of Twente in Enschede, the Netherlands.