We are excited to announce Movac Emerge Fund 4’s first two investments – Wellumio and B.Spkl.
Wellumio
What they’re developing:
A portable MRI device that enables paramedics and first responders to identify and characterise stroke in patients.
Why we like it:
Stroke is a significant global health issue, both in its immediate and long-term effects on patients. However, it is difficult to identify and categorize strokes, and their type dictates the treatment provided to patients. Current practice requires patients to undergo an MRI or CT scan, and this results in only 30% of patients receiving treatment within an hour of admission to the hospital. This is despite significant evidence that the earlier a stroke patient is treated, the better their outcome. The industry has coined the term ‘The Golden Hour’ to refer to the idealized state of providing stroke patients with care within an hour of symptom onset.
By providing a portable diagnostic device Wellumio intends to empower this change. The Wellumio team brings deep expertise spanning medicine, physics, medical imaging, physiology and data science, an ideal blend of skills that suits the company’s needs. Both founders have previously started companies in relevant industries and had worked together for a number of years prior to founding Wellumio.
Milestones / What’s next:
After successfully securing funding, Wellumio is focused on progressing its working prototype.
B.Spkl
What they’re developing:
A low-cost production method for the manufacture of electrolysers.
Why we like it:
Hydrogen is looking likely to become a significant component in the future of energy despite its production remaining one of the key challenges in its widespread adoption. Iridium, one of the rarest metals on earth, is a core component of Hydrogen catalysts but as its supply is limited increased usage has resulted in significant price increases. B.Spkl is developing a method through which their use of ion beam implantation can reduce the amount of iridium needed to 7% of existing methods. This creates significant cost savings in the production of electrolysers, enabling more cost-effective production of Hydrogen and reduced environmental impact from the mining of raw materials. Our view is that this is a key component in fuelling the wider adoption of Green Hydrogen.
The B.Spkl founding team combines technical expertise in Ion beam material manipulation with deep commercial knowledge of the sector. The core IP was formed during the founding team’s time working together at GNS Science, a NZ Crown Research Institute.
Milestones/ What’s next:
The company plans to proceed with its membrane manufacturing process and explore collaborations with strategic partners.
