B-Secur has developed a world-first algorithm that uses a person’s heartbeat as secure identification, paving the way for ECG in everyday devices.
Belfast healthtech company B-Secur has raised £1.45m (€1.57m) to develop a technology that uses heartbeat as ID and what could be the next big thing in medicine.
The funding led by Kernel Capital along with existing investors Accelerated Digital Ventures and new investors Clarendon Fund Managers.
“It is our hope that we can enable personal ECG monitoring in everyday devices such as smartwatches”
B-Secur has developed a world first software algorithm that uses an individual’s unique heartbeat pattern, through embedded electrocardiogram (ECG) in everyday technologies, for secure biometric identification and provide health and wellness insights at the same time.
It is understood that the Covid-19 pandemic is accelerating demand for this technology.
Medical grade ECG recording traditionally happens in the hospital environment using expensive equipment, but B-Secur are embedding this into latest smartwatches, cars and even clothing and are already selling to some of the world’s largest technology companies.
The next big thing in medtech: ECG in everyday devices
“We are delighted to receive this injection of investment from Kernel and our other investors so we can continue our work with existing customers and advance new customer applications,” said B-Secur CEO Alan Foreman.
“Despite a difficult backdrop of Covid-19 and economic uncertainty, our Heartkey software is enabling new features in technology and has generated further demand as a direct result.
“Not only are people increasingly keen to understand their state of health and wellness including conditions such as stress and anxiety, an unfortunate effect of Covid appears to be an increased instance of heart related, and potentially life threatening, conditions such as Arrhythmia. Hospitals are already struggling to cope with demand, so it is our hope that we can enable personal ECG monitoring in everyday devices such as smartwatches.”
In recent months B-Secur has signed significant contracts with international customers. This round of funding will be used to deliver on these contracts which are in their core tech wearables market which encompasses traditional fitness trackers to smartwatches and medical application patches. The Company employees over 35 scientists and engineers and will look to hire additional staff in Belfast and engineering staff in their customer regions including US and China.
“The worldwide pandemic is accelerating demand for connected devices that can monitor all aspects of human health and wellbeing,” explained Siggi Saevarsson, Partner, Kernel Capital.
“The world class team at B-Secur and their patented technology is uniquely positioned to play a key role in the development of this next generation of smart devices. Kernel Capital is excited to continue our strong support of the company as it continues its growth.”
Pictured at top (from left): Siggi Saevarsson, Partner, Kernel Capital; Alan Foreman, CEO, B-Secur and Brian Cummings, Investment Director, Clarendon Fund Managers
Written by John Kennedy (firstname.lastname@example.org)
Published: 15 September, 2020