Major funding for fetal heart monitor

PA 117/09 PUK Ventures, the venture capital business of Partnerships UK, today announced that it has completed an investment of £750,000 — part of a £1.175m funding round — in Monica Healthcare Limited. Monica Healthcare was formed following 15 years of expertise at The University of Nottingham's School of Electrical & Electronic Engineering and Department of Obstetrics. The University of Nottingham spin-out company has developed miniature, wireless technology which can successfully monitor the well-being of a mother and her unborn baby. The investors in this round of funding are PUK Ventures (£750K), Catapult Venture Managers (£300K) and The University of Nottingham (£100K) with private investors contributing a further £25K. Proceeds will be used towards expansion of Monica activities in the USA and other international markets. Christina McComb, Head of PUK Ventures, said: "PUK Ventures believes that Monica's technology will make a real difference to the quality of care available to expectant mothers and their babies. We are pleased to support the company through the next phase of its international expansion".
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