Adapttech has raised funding of £ 2.25m from investors Mercia Asset Management, ACF Investors, Wren Capital and Wealth Club.
Adapttech will use the funding to continue developing smart consumable technologies to help people with physical disabilities improve their quality of life.
The Birmingham-based startup combines the use of 3D scanning with dynamic pressure data with the goal of saving time and costs at orthotics and prosthetics clinics.
“This new funding comes at a time when we are developing exciting new technologies that will benefit our O&P clinic customers and their patients. We look forward to continuing our journey to increase our revenue, product portfolio, and international business operations, ”said Frederico Carpinteiro, CEO, Adapttech.
Funding continues to £ 2m investment in March last year, led by the MEIF Proof of Concept & Early Stage Fund managed by Mercia and part of the Midland Engine Investment Fund.
Along with Adapttech funding, it has also announced a number of new products including a real – time pressure measurement system and a digitizer for prosthetic sockets that create high – resolution 3D models.
“The unique IP at the heart of Adapttech’s products means the company has a great opportunity to become a leader in the orthotics and prosthetics industry, with smart technologies that improve the quality of life for users,” said Paul Fauset, partner at ACF Investors .
Adapttech recently secured a licensing agreement with the University of Washington for the Prosthetic Limb User Survey self-reporting tool on Mobility and Advanced Rehabilitation Therapy for the Amputee Mobility Precursors.
Adapttech Birmingham raises £ 2.25m for prosthetic technology
Source link Adapttech Birmingham raises £ 2.25m for prosthetic technology