Spun out of University of Cape Town, Nisonic hopes to use ultrasound to provide a better method for tracking brain pressure to monitor conditions such as stroke, brain tumours and head trauma.
Nisonic, a Norway-based brain pressure measurement device developer spun out from University of Cape Town, has attracted Kr16m ($2m) in a round backed by independent research and development contractor Sintef, Shifter reported today.
Norwegian government-backed investment unit Investinor also participated in the round, as did life science-focused venture fund manager Hadean Ventures.
Founded in 2017, Nisonic has created a medical device that administers ultrasound through the eye to measure pressure in the brain, a key consideration when monitoring serious conditions such as head trauma, meningitis and brain tumours.
Brain pressure at present is measured by a sensor implanted in the cranium, leaving the patient at the potential risk of bleeding, infections and damage to brain tissues.
Nisonic expects to reach the market with its product in 2022. The $2m transaction is part of a plan to secure $12.3m in funding for the business over the next four-to-five years, according to Nordic9.
Venture fund and startup studio Co-founder.co helped establish Nisonic and has maintained a guiding role during its development. The company has previously been supported by government-owned development bank Innovation Norway and grant-making body Research Council of Norway.
