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Psyomics secures £2.4 million Series B investment led by Parkwalk

UK-based healthtech company Psyomics has closed a £2.4m funding round as they continue to expand access to their online mental health assessment platform to individual users and NHS trusts. The financing was led by Parkwalk, the UK’s most active investor in the university spin-out sector. Meltwind and other investors also participated, along with new investment from Newable Ventures.

Psyomics was spun-out from the University of Cambridge with a mission to develop technology to support earlier and improved mental health diagnosis and treatment management. With significant pressure on the NHS and other resources in recent years, there’s been a greater need for solutions when it comes to mental health, to ensure that people get the support they need, when they need it.

Built by psychiatrists and psychologists, its mental health assessment platform Censeo mirrors the rich process of a comprehensive face-to-face assessment, in a digital form. Users are guided through a series of adaptive questions to build a detailed picture of their mental health symptoms and concerns. A report that is composed of potential conditions and next step recommendations is then generated, providing patients a stigma-free way to begin addressing any concerns.

When used within a healthcare setting, the platform supports clinicians (whether they are psychiatrists or not) with more efficient decision-making, helping them to establish the right care pathway and level of support more quickly. A pilot within GP practices was conducted last year, with positive feedback received from both GPs and patients. Following this, access to Censeo was opened up to individual users for the first time earlier this year and new projects within NHS treatment providers are starting.

Success is no accident, it is hard work and perseverance. Congratulations to the entire team at Psyomics on your funding. I wish you all the best in this endeavour.

Shishir Gupta, Founder and CEO, StartupLanes

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