Neupulse Attracts £3 Million in New Funding

Neupulse has raised £3 million in new funding for scaling product sales and accelerating its path to market. Major backers included Eos Advisory and the Midlands Engine Investment Fund II, through appointed fund manager Mercia Ventures, with participation from existing and new investors.

“This investment underlines the unmet need in providing people with conditions like Tourette Syndrome a solution to manage their condition, and as a company, we are driven to improve the lives of individuals with these conditions,” Neupulse CEO Paul Cable said.

Besides scaling sales, Neupulse plans to use the money to support product development, regulatory progress, and early commercialization. The company’s product is designed to address critical gaps in current treatment options for brain health conditions (such as Tourette Syndrome), combining scientific rigor with a focus on real-world impact. This funding round enables the company to move from development towards commercial launch in mid-2026, while continuing to build the evidence base required by clinicians, regulators, and healthcare systems.

“This is a great example of advanced biomedical research from a U.K. university creating an initial U.K. market launch during 2026,” Neupulse Board Chair Ian Rhodes stated. “This will increasingly benefit the U.K. economy as the technology scales out globally.”

The company first secured funding from the Midlands Engine Investment Fund II in 2024 to finalize development of a non-drug treatment to help manage Tourette’s Syndrome symptoms. The £500,000 investment helped Neupulse’s continued research into the TS therapy wristband device and clinical trials.

“Neupulse’s growth over the past year, following investment from the Midlands Engine Investment Fund II, has been impressive,” commented David Tindall, senior investment manager at the British Business Bank. “By addressing a clear gap in the market and delivering a much-needed solution for those affected, the business exemplifies the Fund’s commitment to backing ambitious, high-growth companies. This latest round of funding will further support Neupulse in developing and launching new treatment options.”

Eos and Mercia Ventures are both experienced backers of high-growth healthcare and deep-tech businesses, bringing not only capital but strategic expertise to support Neupulse. Their continued leadership reflects a shared belief in the company’s long-term potential and its ability to generate both commercial and clinical value, according to executives.

“We are delighted to support the next chapter of Neupulse as they move towards commercialization. This is exactly the kind of company and science we like to back,” Eos Investment Director Andrew McNeill said. “Passionate founders and technology with the potential to positively impact the lives of people across the globe.”

The £400 million Midlands Engine Investment Fund II covers the entire Midlands region and provides debt finance from £25,000 to £2 million and equity investment up to £5 million to help small and medium-sized businesses to start up, scale up, or stay ahead. The Midlands Engine Investment Fund II drives sustainable economic growth by supporting innovation and creating local opportunities for new and growing businesses across the Midlands. The Midlands Engine Investment Fund II will increase the supply and diversity of early-stage finance for smaller businesses in the Midlands, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.

“Tourette Syndrome is believed to affect up to 2% of all children worldwide, but currently the only treatments are medication and behavioral therapy, neither of which is an ideal solution. Neupulse’s device offers a genuine alternative that could transform lives,” Mercia Ventures Fund Principal Sandy Reid added.

Neurotherapeutics was founded in 2021 as a spin-out from the University of Nottingham, commercializing the research of Professor Stephen Jackson, Professor Georgina Jackson, and Dr. Barbara Morera. The neurotechnology company is pioneering non-invasive neuromodulation solutions to improve the quality of life for people living with neurological and mental health conditions. Combining neuroscience and user-centric design, Neupulse develops wearable technologies that deliver effective and drug-free solutions.

Mercia Ventures is a proactive venture capital investor focused on being the first-choice partner for growth. Mercia Ventures makes equity investments of up to £10 million across all sectors, with focuses in software, consumer, healthcare, and deep tech. Mercia Ventures is a trading name of investment funds managed by Mercia Fund Management Limited and Mercia Regional Ventures Limited, part of the Mercia Asset Management PLC Group, and sits alongside the Group’s wider private equity, debt, and proprietary balance sheet operations. The Group has 11 offices in the United Kingdom, and Mercia Ventures’ national footprint and 48-strong investment team draws on their experiences as founders, PhD scientists, software engineers, corporate financiers, and management consultants to help partner companies achieve their ambitions. Mercia Asset Management PLC has about £2 billion of assets under management. The Group raises its own venture capital trusts (VCTs) and enterprise investment scheme (EIS) funds. Mercia Asset Management PLC includes the following wholly owned subsidiaries: Mercia Fund Management Limited, Mercia Regional Ventures Limited, Mercia Business Loans Limited, and Frontier Development Capital Limited.

Operated by the British Business Bank, the Midlands Engine Investment Fund II (MEIF II) provides a mix of debt and equity funding. MEIF II offers a range of commercial finance options with small loans from £25,000 to £100,000 debt finance from £100,000 to £2 million, and equity investment up to £5 million. It works alongside the combined authorities, local enterprise partnerships (LEPs), and growth hubs, as well as local intermediaries such as accountants, fund managers, and banks, to support smaller Midlands businesses.

Eos Advisory invests in and commercializes science and technology at local seed-stage, with the potential to scale globally, and with a focus on improving the health of people and the planet. Founded in St. Andrews in 2014, Eos is the link between non-specialist Investors and highly specialist, knowledge-intensive technology companies, building a portfolio of entities developing innovations to improve disease diagnostics, prevention, and treatment, environmental sustainability, and food and water security. Eos works in partnership with family offices, individuals, companies, and institutional investors that invest through an annual, EIS-qualifying Innovation Fund and an Investment Syndicate.