Neupulse raises £3 million for delivery of neurotherapeutic technology

When global labour market data is released, headlines tend to fixate on a single metric: unemployment. This year is no different. According to the latest figures from the United Nations and the International Labour Organisation, global unemployment remains relatively stable at just under five per cent. At face value, this suggests a labour market that is holding firm despite economic uncertainty, geopolitical instability and technological upheaval. In reality, it masks a serious and underreported problem: the true global jobs crisis is not a lack of work, but the growing scale of informal work. More than 2.1 billion people worldwide are employed in the informal economy, including misclassified workers operating outside effective regulatory coverage, where employment is typically unregistered, contracts are absent or unenforced, and access to labour rights and social protections is limited or non-existent. That represents a large portion of the global workforce. If unemployment reveals how many people cannot find work, informality shows how many are working without protection or long-term opportunity. Informal work is often associated with developing economies or unregulated sectors. However, this form of work is increasingly occurring within developed economies and regulated sectors, hidden within otherwise legitimate, fast-growing small and medium-sized enterprises – and this is often unintentional. For both businesses operating solely in domestic markets and those that have expanded abroad, adopting new workforce models and attempting to respond to rapid technological change, the crisis of informality is emerging in three key areas. The first is worker misclassification. Individuals are engaged as independent contractors but operate in practice like employees – working fulltime, at set hours, for years at a time. This is particularly prevalent in gig and platform-based roles, where algorithms determine pay, hours and performance without considering employment rights. Gig and platform work often presents as flexible and empowering, however, in practice, many platforms exercise employer-like control over payment, performance management, hours, and length of engagement, while explicitly avoiding employer obligations such as tax filings and the provision of statutory benefits like annual leave and healthcare. The result is a growing cohort of workers who fall between legal categories, carrying the risks of self-employment without the autonomy or protections that should accompany this mode of work. The second area is cross-border remote work, where informality can inadvertently arise. With post-COVID remote working models here to stay, companies are directly hiring overseas talent, assuming that because the worker is not based in the company’s home country, local employment laws do not apply. Where employment is not properly registered (whether by the employer and/or employee), local labour law is not applied, or social security obligations are misunderstood or ignored, these arrangements can slip into a form of modern informality, even where the relationship appears to be formal on the surface. This is often the point at which organisations begin to seek external guidance. In many cases, neither party fully understands the legal implications of the arrangement, which leaves both employer and worker exposed. We frequently see organisations approach us when a specific issue surfaces, such as payroll inconsistencies, questions around benefits entitlement, or concerns raised by the workers themselves, including registration process failures. Business leaders should also be aware that permanent establishment risk can arise if a remote employee is deemed to represent the company locally, which can trigger corporate tax obligations. Social security errors can happen when contributions are not made correctly in either jurisdiction, leaving workers without coverage and employers facing backdated liabilities. Meanwhile, employment law conflicts can emerge when contracts fail to meet the requirements of the host country regarding notice periods, benefits or termination rights. The third driver of informality is structural. These arrangements are becoming more common as artificial intelligence and evolving workforce models outpace regulation. Businesses are innovating at speed, but legal frameworks are struggling to keep pace. The UK’s Employment Rights Act offers a clear case study of the direction of travel. Worker protections are expanding, classification rules are tightening and enforcement is becoming more coordinated across agencies. Informal arrangements that once sat in legal grey areas are moving firmly into view and what was previously tolerated is falling under scrutiny. The challenge is that informality is rarely a deliberate choice. For many growing organisations, it becomes the default because compliant pathways are complicated and difficult to navigate alone, particularly across multiple jurisdictions. Legal advice, payroll, tax, HR, and immigration compliance are often siloed, leaving gaps that businesses may not even realise exist until a problem arises. For instance, digital nomad visas are often viewed as providing holders with wholly compliant right to work status, however employers may not realise that this is not always the case and contracts may not reflect the correct legal status or entitlements. Addressing informality requires a change in how we think about employment at a global level and recognising that flexibility and compliance are not mutually exclusive. Businesses need models that allow them to access global talent quickly while ensuring workers are properly employed and protected under local law. As attention remains fixed on unemployment figures, informality continues to expand beneath the surface. It is this hidden cohort of workers, contributing economically without security or rights, that represents the real crisis in the global labour market. Solving it will require coordinated action from policymakers and businesses alike, and a commitment to building workforce models that are not only innovative, but sustainable and fair.

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Neupulse, a neurotherapeutics company focused on delivering innovative solutions to people with brain health conditions, like Tourette Syndrome, has announced it has successfully raised £3 million in new funding.

The round was led by Eos Advisory and the Midlands Engine Investment Fund II, through appointed fund manager Mercia Ventures, with participation from existing and new investors.

The funding will be used to scale sales and accelerate Neupulse’s path to market, supporting product development, regulatory progress and early commercialisation, to ensure the company’s technology reaches individuals who need it most.

The funding comes at a time when venture and growth funding remains highly constrained, underscoring the strength of Neupulse’s proposition and the confidence investors have in both the company’s mission and execution. Neupulse’s continued momentum highlights growing demand for effective, clinically grounded neurotherapeutic solutions and positions Neupulse strongly for its next phase of growth.

Neupulse’s product is designed to address critical gaps in current treatment options, combining scientific rigour with a clear focus on real-world impact. This funding round enables the company to move decisively from development towards commercial launch in mid-2026, while continuing to build the evidence base required by clinicians, regulators, and healthcare systems.

The company first secured funding from the Midlands Engine Investment Fund II in 2024 to finalise development of a non-drug treatment to help manage the symptoms of Tourette’s Syndrome. The £500,000 investment helped Neupulse’s continued research into the TS therapy wristband device and clinical trials.

Eos and Mercia Ventures are both experienced backers of high-growth healthcare and deep-tech businesses, bringing not only capital but strategic expertise to support Neupulse. Their continued leadership reflects a shared belief in the company’s long-term potential and its ability to generate both commercial and clinical value.

Paul Cable, CEO, Neupulse said: “This investment underlines the unmet need in providing people with conditions like Tourette Syndrome a solution to manage their condition, and as a company, we are driven to improve the lives of individuals with these conditions.”

Ian Rhodes, Chair of the board at Neupulse, added: “This is a great example of advanced biomedical research from a leading UK university creating an initial UK market launch during 2026. This will increasingly benefit the UK economy as the technology scales out globally.”

David Tindall, Senior Investment Manager at the British Business Bank, said: “Neupulse’s growth over the past year, following investment from the Midlands Engine Investment Fund II, has been impressive. By addressing a clear gap in the market and delivering a much-needed solution for those affected, the business exemplifies the Fund’s commitment to backing ambitious, high-growth companies. This latest round of funding will further support Neupulse in developing and launching new treatment options.”

Andrew McNeill, Investor Director at Eos, said: “We are delighted to support the next chapter of Neupulse as they move towards commercialisation. This is exactly the kind of company and science we like to back. Passionate founders and technology with the potential to positively impact the lives of people across the globe.”

Sandy Reid, Fund Principal, Mercia Ventures added: “Tourette Syndrome is believed to affect up to two percent of all children worldwide but currently the only treatments are medication and behavioural therapy, neither of which are ideal solutions. Neupulse’s device offers a genuine alternative that could transform lives.”

The £400m Midlands Engine Investment Fund II covers the entire Midlands region and provides debt finance from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead. The purpose of the Midlands Engine Investment Fund II is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the Midlands. The Midlands Engine Investment Fund II will increase the supply and diversity of early-stage finance for smaller businesses in the Midlands, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.

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