Circadacare raises £1.3m to improve independent living

Circadacare, an independent living technology firm, recently secured a substantial £1.3 million in funding.

This round was spearheaded by Northstar Ventures, incorporating both private and venture capital contributors. Additionally, the firm received a match-funded partnership award from Innovate UK, the national innovation agency of the UK.

The freshly acquired capital will fuel Circadacare's continuous development and growth strategies, concentrating on product research, team expansion, and exploring new market opportunities.

In the UK, it is estimated that over 920,000 individuals are living with dementia, imposing a significant £35 billion economic burden. Social and unpaid care account for approximately 85% of these costs, with 61% of those affected residing independently in their own homes. Circadacare's cutting-edge light technology aids in enhancing sleep and alertness, potentially reducing incidents like falls, bolstering cognition and engagement, and mitigating the effects of 'sundowning'.

The company's technology offers a significant benefit to families and caregivers, providing a gentle, non-intrusive approach to care. It helps in regulating circadian rhythms and promptly alerts care providers about any significant lifestyle changes, offering reassurance and peace of mind.James Theobald, Founder of Circadacare, expressed gratitude for the support, stating, "We appreciate this vote of confidence from our investors and Innovate UK. This funding and award will help us to continue our mission of helping individuals live independently for longer. By harnessing the combined potential of circadian light technology and advanced AI monitoring we can deliver top-tier independent living solutions."

Tallie Bush, Product Director, added, “We’d like to extend our sincere thanks to our investors, Innovate UK, and our dedicated team for their ongoing support. We're excited about what the future holds for Circadacare and are committed to continuing to develop our technology so that it enables the delivery of effective care for everyone in need of support. The continued support from our investors, along with the recognition from Innovate UK, speaks to the potential they see in our work and the need for enhanced independent living solutions.” 

Richard Charnley, Investment Director at Northstar Ventures, said “We are proud to invest in an organisation such as Circadacare who provide a healthy ageing solution to help people live independently for longer. Their technology has the potential to massively reduce people's reliance on health care providers and give peace of mind to families and caregivers. We fully support Circadacare's expansion and believe they will grow from strength to strength.”