NEWCASTLE UPON TYNE, England, Dec. 20, 2018
NEWCASTLE UPON TYNE, England, Dec. 20, 2018 /PRNewswire/ -- Changing Health, a leading provider of digital behaviour change programmes, has secured £3 million in new funding. The round was led by Shift Invest from the Netherlands, together with renewed investment from existing backers, Tate & Lyle Ventures and the North East Innovation Fund supported by the European Regional Development Fund, and managed by Northstar Ventures.
Spun out of Newcastle University and Newcastle Hospitals NHS Foundation Trust in August 2016 by Professor Mike Trenell, the company combines evidenced psychological tools with technology to enable people to improve their lifestyle habits. It will use the investment to develop existing and new programmes to address a huge unmet need and drive growth in the UK and overseas.
Changing Health provides its programmes to private and public healthcare providers and insurers, and is currently adopted by 30 NHS organisations across the UK to help people with Type 2 diabetes make positive lifestyle changes and better manage their condition. Users progress through a series of app-based learning modules to give them a better understanding of their health, and are then assigned a lifestyle coach, professionally trained in health psychology, to mentor them on regular phone calls and digital interactions for up to 12 months.
This investment will allow Changing Health to launch and scale two new programmes: one for people at risk of developing Type 2 diabetes and another for people who need support in managing their weight.
In 2019 Changing Health will launch an industry-leading AI platform for its UK and international partners to deliver an entirely personalised experience for each user. The platform will harness the power of big data to proactively identify the social, environmental or demographic factors most likely to influence users' lifestyle behaviours - "person X feels they are too busy to exercise, most friends drink 3-4 times per week, they live within 500 metres of 3 takeaways," for example - and provide a bespoke intervention for maximum impact.
Shift Investment Partner, Florentine Fockema Andreae, said: "Changing Health is a great example of how a digital innovation can reach large numbers of people in urgent need of lifestyle change. The company is led by a capable team who combine academic expertise with commercial acumen, and that combination has been invaluable as the company translates nine years of scientific research into products that make a real difference in people's lives."
John Grumitt, Changing Health Chief Executive, said: "Changing Health is quickly building momentum as health experts recognise that promoting lifestyle medicine - in a format anybody can access - is the best way to help people live longer, healthier, happier lives. This investment will allow us to reach more people and support them in new and exciting ways."
Notes to editors
About Newcastle University, UK
About SHIFT Invest
SHIFT Invest is a Dutch venture capital fund that invests in innovations related to the food & agriculture value chain, healthy nutrition and clean (bio-based) technologies. Through our investments, we strive to create environmental or health impact alongside financial return. Within the food & health theme, SHIFT's focus is on innovations related to cure and care with high quality and healthy food, consumption and lifestyle. SHIFT's team, together with its fund partners, o.a. Wageningen University & Research and Dutch health insurer Menzis, offer entrepreneurs a broad network and knowledge of the sector. For further information visit: https://shiftinvest.com
About Tate & Lyle Ventures
Tate & Lyle Ventures is a food tech focused venture capital fund backed by, but independent from, Tate & Lyle, the global food ingredients company. The fund is focused on investing in high growth companies in the areas of food sciences and technologies to help consumers stay healthy. For further information contact Simon Barnes, Managing Partner at firstname.lastname@example.org
Northstar Ventures Limited
Northstar Ventures is a venture capital and social investment firm based in the North East. We provide funding for innovative, scalable businesses and high impact social enterprises. We've been supporting entrepreneurs since 2004, seeking out strong teams with great ideas that will drive high growth, scalable businesses, and sustainable charities.As the North East's leading early stage investor, we have invested over £100m into start-ups, early stage businesses and high impact social enterprises in the region. Our investment managers have a wealth of experience supporting new and growing businesses and bring commercial and operational experience, PhDs and MBAs, international careers and even a micro-business or two.
Information About The North East Fund
The North East Fund is a suite five venture capital and loan funds which was established in April 2018, to invest £120m in around 600 North East businesses in the period to March 2023. The fund managers provide business development advice and investment finance to small and medium sized enterprises based in the seven Local Authority areas of North East England: Northumberland, North Tyneside, Newcastle, South Tyneside, Gateshead Sunderland and County Durham. The programme encourages investment in and the commercialisation of new technologies, including low carbon technologies, as well as stimulating new business creation, private investment and entrepreneurialism in the North East, with a view to creating over 2,500 new jobs. The North East Fund has overall responsibility for the programme, which is delivered through five separate funds, each managed by independent, FCA regulated fund managers. Details of these, and up to date information on the progress of the programme, is available on The North East Fund's website: www.northeastfund.org
The North East Fund has been established with funding from the North East of England European Regional Development Fund programme, the European Investment Bank and from returns on previous North East based, publicly supported investment funds. It is jointly owned by the seven North East local authorities
Information About the European Regional Development Fund
The North East Fund will receive up to £58,500,000 of funding from the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020. The Ministry for Housing, Communities and Local Government is the Managing Authority for European Regional Development Fund. Established by the European Union, the European Regional Development Fund helps local areas stimulate their economic development by investing in projects which will support innovation, businesses, create jobs and local community regenerations. For more information visit https://www.gov.uk/european-growth-funding.
Information About the European Investment Bank
The European Investment Bank (EIB) will lend up to £60,000,000 to the North East Fund programme. The European Investment Bank is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. For more information, visit: http://www.eib.org/about/index.htm
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