BlueSkeye AI has just raised about €3.8 million to improve mental health diagnosis and care. The UK-based startup is aiming to address a generational mental health crisis by harnessing the power of digital healthtech.
It’s reported that in the UK alone, one in four people suffer from mental health issues at some point in their lives. It’s a phenomenon felt across Europe and a worrying trend that seems to be getting worse. For those suffering, the majority will never access the right type of care. Mental health care systems are notoriously underfunded and under immense pressure.
On a mission to make sure that people suffering from mental health issues get the care that is needed and that diagnosis comes at the right time is startup BlueSkeye AI. A spin-out from the University of Nottingham’s School of Computer Science, the young team has just picked up fresh funding to fuel its plans.
The UK-based startup has just raised €3.8 million in funding to pursue the goal of improving people’s lives through tech. The round was led by XTX Ventures, which invested alongside Foresight Group (through The Midlands Engine Investment Fund), Praetura Ventures (through Praetura’s GMC Life Sciences Fund), the University of Nottingham and a consortium of high-net-worth individuals.
BlueSkeye was founded by Professor Michel Valstar (CEO) and Dr Anthony Brown (CTO), and Chief Machine Learning and Software Engineer Dr Timur Almaev in 2019.
Transforming mental health diagnoses
BlueSkeye is taking an AI-based approach to health care, leveraging tech that can understand mood and mental wellbeing.
BlueSkeye AI’s trademark blending of advanced research into expressive human behaviour with specialist expertise in computer vision, machine learning and AI will help improve mental health care, and as a result, improve people’s quality of life and personal safety.
The funding will further accelerate BlueSkeye AI’s expansion across both clinical and non-clinical health and wellbeing markets to transform patient pathways at scale. This will support service providers to address the global worldwide need for early diagnosis of mental health issues such as depression and anxiety, and the development of new products to support accurate digital diagnosis in the health and wellbeing sector. As part of this investment, BlueSkeye AI will expand its activities with a physical presence in the North-West of England.
Professor Michel Valstar said: “The demand for alternative pathways to access mental healthcare is enormous, and continues to grow by the day. We’re committed to disrupting traditional approaches to healthcare to help improve the quality of people’s lives, and we’re particularly focused on the perinatal mental health sector. With the support of XTX Ventures, Foresight Group and Praetura Ventures, we’ll strengthen the rollout of new clinical trials and product development, and champion the benefits of technology for reinforcing healthcare provision on a national, regional and global basis.”