LONDON, UK (date) mOm (“mOm Incubators Ltd” or the “Company”) has raised £630,000 in seed funding from a prominent set of investors to further refine their revolutionary baby incubator. Led by MaSa Partners (a US-based impact fund) investors include Holly Branson (as part of the Virgin Group), Dr. Joshua Boger, The Rumi Foundation, Rockspring Nominees and The London Co Investment Fund.
The mOm Incubator will provide an alternative to the bulky and costly incubators of today. The system collapses to a fraction of the size and is approximately 90% lighter than conventional incubators so can be easily delivered anywhere in the world. Along with this, the mOm Incubator will cost roughly 5% that of conventional incubators. With this new design mOm aims to help some of the 1 million children that die every single year due to premature birth (World Health Organisation).
mOm’s incubator was initially targeted at providing incubation technology in refugee camps, and after extensive research around the problems associated with the use of incubators in remote areas, the product has evolved into a high quality item to address both developed and developing market needs.
Today, mOm consists of an impressive team of medical, business, and engineering experts. mOm has also signed a strategic partnership with Morgan Innovation & Technology (MIAT), a leading medical device developer with more than 25 years’ experience in designing and manufacturing medical equipment, to help develop the product and attain regulatory approval as a medical device.
The mOm Incubator, and its creator James Roberts, have already won a number of awards, including the 2014 Sir James Dyson award for innovation and the JC Gammon award for enterprise and entrepreneurship. In addition, mOm received the diamond prize for MassChallenge UK, a global accelerator for early-stage entrepreneurs, and the company is currently headquartered out of their UK office in London.
James Roberts, Founder & CEO, said: “It is still mind blowing for me to see my project, which was originally conceived in my final year of University, go on to become a reality and secure funding from a great team of investors. This is just the beginning, and we are working hard to bring the product to market and ensure it is able to have widespread impact in helping reduce premature deaths.”
Alan Davies, the former Chief Medical Officer of GE Healthcare, and a member of mOm’s advisory board, said: “I have previously worked as a paediatrician in Newborn and Neonatal Intensive Care in Australia, where I was extensively involved in newborn transport across long distances, and I have more recently supported and researched newborn and obstetric care in rural sub-Saharan Africa, particularly in Malawi and Tanzania. I see a huge need for mOm’s new incubator concept and can clearly see the potential to have a great impact, throughout the world, saving more newborn lives.”
Holly Branson said: “Being a mother and having trained as a paediatrician, I was instantly drawn to mOm and could see their incubators potential to save lives. Incubators are essential pieces of equipment and are unfortunately sorely needed in many of the world’s developing nations where the premature birth rate has been continuously rising in recent years. I believe mOm can go on to have a real impact throughout the world, and I am delighted to be able to support them.”