Lua Health secures €500K in pre-seed funding round

Pictured (l-r) Anna-Marie Turley, Enterprise Ireland, Gianni Matera, Founder, Growing Capital,  Dr. Mihael Arcan and Fionn Delahunty, Founders of Lua Health

Lua Health, a proactive well-being platform for the workforce, has successfully concluded its pre-seed funding round, securing €500k in investment from Enterprise Ireland and the private investment company Growing Capital.  

Founded by Fionn Delahunty and Dr. Mihael Arcan in 2023, Lua Health emerged as a spin-off from the University of Galway and the Insight SFI Research Centre for Data Analytics. The team received prior support from the Enterprise Ireland commercialisation fund.  

Lua Health has pioneered proprietary Artificial Intelligence algorithms capable of accurately detecting indications of poor mental health based on how a person speaks or writes.

Following a thorough period of customer discovery, the team has crafted a product tailored for the corporate wellness market. Implemented in a privacy-by-design manner, the product allows employees to gauge their mental well-being in real-time, facilitating access to support if needed. Simultaneously, it empowers companies to transition from a reactive well-being culture to a proactive one. The technology has already undergone validation in various enterprise settings, showcasing significant improvements in well-being, increased engagement with benefits, reduced sick leave, and heightened productivity.  

Minister for Enterprise, Trade and Employment, Peter Burke TD, said: “I want to commend Fionn, Mihael and the team at Lua Health on its recent funding success. The mental health of workers is becoming a top priority for businesses and a dilemma for leadership in organisations is being able to support the well-being of their staff in a pro-active and pre-emptive way.  Lua Health’s platform will play a huge role in offering employers tangible technological solutions in this space going forward. I know that Lua Health has ambitious global plans and is already seeing strong interest in its offering and I wish the team every success for the future.” 

Reflecting on the investment, Fionn Delahunty, Co-Founder of Lua Health, said, "We're thrilled to have the support of Enterprise Ireland and Growing Capital. This marks a global turning point in both the well-being space post-COVID and the AI sector. Lua Health's mission is to assist individuals in better understanding their well-being and putting an end to silent suffering. We're excited to have two prominent Irish partners supporting us on this journey."

Anna-Marie Turley, Department Manager, HPSU & Entrepreneurship, Enterprise Ireland said: “We at Enterprise Ireland understand the importance and necessity for emerging deep-tech solutions which offers a solution to global problems. Lua Health’s highly innovative and disruptive technology solution addresses a gap in the market allowing businesses to monitor and take action to prevent mental health deterioration amongst their staff. I want to congratulate the team at Lua Health on its recent investment wins. Enterprise Ireland is proud to have provided support to Lua Health at each stage of its growth journey from our research commercialisation and HPSU sector teams. Today’s announcement will further allow Lua Health to scale and compete and bring its platform to the next level.”

Gianni Matera, Founder, Growing Capital said, “We take pride in our investment in Lua Health's technology, enabling individuals to gain a deeper understanding of their well-being and take timely actions to prevent situations from worsening. Lua Health marks our fourteenth collaborative venture with Enterprise Ireland, and proudly stands as our fifth investment in innovative spin-outs stemming from Irish universities.”

ENDS 

About Lua Health 

Lua Health revolutionizes workplace wellness with an innovative AI approach. Unlike traditional solutions, our technology proactively detects mental health and wellness issues, guiding users to timely interventions. We focus on early detection and swift action, ensuring conditions are addressed as they arise, preventing escalation.

About Growing Capital

Growing Capital is an early-stage investment firm specializing in supporting start-ups with their roots in Ireland. To date, Growing Capital has supported over 20 Irish start-ups, including notable names such as Glofox, Flipdish, and Siren.

Growing Capital typically directs its investments toward start-ups emerging from programs such as New Frontiers, National Pre-Accelerator and Accelerator Programmes, Prep4Seed, and the EI Commercialization Fund.