The London-based firm is working to build a global platform to measure key brain health indicators simultaneously and non-invasively. 

London-based medical equipment manufacturer CoMind has raised $60 million (£45 million) in the second part of its Series A funding. The latest round was led by early-stage venture capital firm Plural Platform with participation from existing investors Angelini Ventures, LocalGlobe, Octopus Ventures, Crane, Backed VC and Entrepreneurs First. 

Funds raised will be used to advance regulatory approval of the firm’s first product, CoMind One, as well as support completion of additional clinical trials, team expansion, and manufacturing partnerships.

CoMind is working to build a global platform to monitor patients, based on its optical neuromonitoring technology. CoMind One is designed to measure three key brain health indicators simultaneously and non-invasively: cerebral blood flow, cerebral autoregulation and intracranial pressure.

The firm plans to expand its product portfolio to measure additional physiological parameters and further develop CoVision, an AI platform that transforms sensor data into predictive insights, identifying potential complications early and personalising treatment to improve patient outcomes.

Monitor the brain

Taavet Hinrikus, a partner at Plural, explained why he was attracted to CoMind in an article on the venture firm’s website. 

“For decades, doctors treating critically ill patients have been forced to compromise when monitoring the brain. Today’s approaches use risky, expensive, highly invasive procedures that require drilling a hole into a patient’s skull or rely on inaccurate non-invasive monitoring that can compromise treatment decisions,” he explained. 

There are, he continued, around three million traumatic brain injuries in the US every year. These generally require drilling a hole into the patient’s head and taking an invasive intracranial pressure measurement. Because it is invasive, it can only be used in 5% of cases. Even then, there is a 15% complication rate.

CoMind addresses these problems. “The company is led by a true outlier of a young founder who has hired a world-leading team of experts around him, as they build what can become a huge business by transforming how we monitor our brains,” Hinrikus writes. 

CoMind has now raised $87 million in two rounds of funding, according to Crunchbase.