SleepCogni, a Sheffield-based medtech specialising in insomnia, has raised a £300,000 EIS pre-approved bridging round, supported by existing investors and grants, bringing its total funding to £3.9m.
This infusion of capital come sahead of a planned larger funding round in 2025, enabling the company to achieve major milestones including CE and FCC approvals and commercialising into the £35bn global sleep tech market.
Long-term investor, Mark Milton-Edwards, has reinvested in this round and joined the team as a non-executive director to support global commercialisation.
Additionally, Joseph Hawkins has been promoted to chief operating officer.
Milton-Edwards, formerly head of product and health solutions – Digital Health at Teva Pharmaceuticals, brings over 30 years of experience in pharma and healthcare technology. Prior to Teva, he spent 16 years at AstraZeneca, and his achievements include creation of Digihaler, the first FDA and MHRA approved fully integrated digital inhaler.
Hawkins joined SleepCogni after collaborating on his dissertation at the University of Sheffield, where he used machine learning to predict sleep onset, which is now used to personalise SleepCogni’s therapy.
Over the last six years, he has driven NHS collaborations, led UK and US sales, and secured £2m in funding.
Richard Mills, CEO of SleepCogni, said: “I am happy to strengthen our commercial team and announce this additional funding. The continued support from our investors is a testament to their confidence in our mission and the team’s ability to deliver.
“With a well-rounded executive team featuring experience from global leaders in pharmaceuticals like Teva, healthcare insurance giants such as Aetna, and consumer retail leaders like Apple, we are well-positioned to drive the business forward.
“We welcome Mark Milton-Edwards to the team and celebrate Joseph Hawkins’ well deserved appointment as COO.”
