Will Smith backed start-up closes latest £2 million funding round

AI platform aims to educate people on how their stress inside and out of work is triggered.

BioBeats, the digital health and AI company backed by actor Will Smith has closed a £2.4 million funding round led by Oxford Sciences Innovation (OSI), White Cloud and IQ Capital.

What is BioBeats?

BioBeats use user data, AI, and human insight with wearable devices to help find patterns that link employee stress to health risks and physical outcomes. The idea is that when the patterns are discovered then the triggers can be managed, giving a clear benefit for employers and employees.

Partnerships with universities

Since 2013, the company has conducted a number of successful clinical trials with BUPA, AXA, and the Center for Digital Economy at the University of Surrey which have been focused on gathering proof of the feasibility of its workforce wellbeing management platform.

Since the completion of the pilot, the company has built their wearable solution, a secure API, and a cloud platform.

Dr. David Plans, founder and CSO of BioBeats said, ‘For BioBeats, our vision is to disrupt the way stress is viewed and treated on a global scale. Our approach focuses on challenging the conventional approach to addressing the pandemic of stress and its relation to mental health, cardiovascular disease, and other poor health outcomes.’

Ed Stacey, founding partner of IQ Capital said, ‘The business combines the best in IP-rich tech, with a passionate founder. These are exactly the characteristics that IQ Capital looks for in the businesses it invests in and we are proud to be part of its growth story.’

With investor support, co-founders Dr. David Plans and Dr. Davide Morelli, will begin their doctoral work under the supervision of academic groups at Oxford University in a peer review to further validate the project.

Plans concluded, ‘With this investment, we aim to expand our reach and product capabilities, and ultimately provide evidence that predictive analytics and AI could change mental health care delivery globally.’

Michael Somerville

Michael Somerville

Michael was senior reporter for GrowthBusiness.co.uk from 2018 to 2019.

Related Topics