Nova Leah secures €2.25m in funding round

Medical device security specialist to build on blue chip customer base

Trade

Pictured: Jayne Brady, Kernel Capital; Anita Finnegan, Nova Leah; Niall McEvoy, Manager, Enterprise Ireland; and David McGeough, Bank of Ireland

Kernel Capital and Suir Valley Ventures has invested €2.25 million investment in Dundalk cybersecurity firm Nova Leah. The round was led by the Bank of Ireland Kernel Capital Growth Fund (RoI).

Nova Leah has developed a solution for securing connected medical devices medical devices, improving patient safety and reducing regulatory costs. The platform has global deployments with a blue chip customer base.

Connected medical devices represent a rapidly growing sector in healthcare. There are currently 10-15 million connected devices in use globally; cybersecurity spend in the healthcare sector is valued at $5.5 billion annually and is expected to reach $11 billion by 2020.

“This investment milestone will see Nova Leah further expand on its existing success as we strive to become the number one provider of cybersecurity compliance solutions for the connected medical device industry,” said Anita Finnegan, CEO, Nova Leah. “The proceeds of this investment will allow us to expand our team, further develop our product roadmap and build our presence in the marketplace.”

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