BIRMINGHAM, UK – April 6, 2022 – Biomedical startup Adapttech announced today that it has raised £ 2.25 million from investors including Mercia Asset Management, ACF Investors, Wren Capital and Wealth Club. The company also announced the launch of the new INSIGHT range, a family of products that makes it easier and quick fit of lower limb prostheses and improve patient outcomes.
The new funding will be used by Adapttech to further develop smart wearable technologies to help people with physical limitations improve their quality of life. The company is the first to combine 3D scanning with dynamic blood pressure data, delivering time and cost benefits to orthotic and prosthetic (O&P) clinics and their patients.
The company’s flagship product, the INSIGHT system, has been updated today to a full product range, with several new options for O&P professionals, including:
- INSIGHT Sense: a convenient, portable and self-contained real-time analysis pressure measurement system; intended for smaller O&P clinics to reduce hardware costs and help them provide home calls to remote patients.
- INSIGHT digitizer: a standalone digitizer for prosthetic sockets that creates high resolution 3D models; aimed at central manufacturing and large groups of O&P clinics.
- INSIGHT Pro: combines both INSIGHT Digitizer and INSIGHT Sense; targeted at larger O&P clinical groups, central manufacturing and research facilities and universities.
Frederico Carpinteiro, Adapttech CEO, said: “With the new INSIGHT range, we are responding to the demands for a system without a scanner, reduced hardware costs and improved data collection. This new funding comes at a time when we are developing exciting new technologies to benefit our O&P Clinic customers and their patients. We look forward to continuing our growth trajectory of our revenue, product portfolio and international business operations. ”
Stephen Windsor, Mercia’s Investment Director, said: “Adapttech launched its first product to market in 2021, successfully securing a string of sales. We are delighted to support the team with a subsequent investment to continue to scale the business and build the product portfolio.”
Paul Fauset, Partner of ACF Investors, commented: “The IP exclusive at the heart of Adapttech products means that there is a great opportunity for the company to become a leader in the orthotic and prosthetic industry, with intelligent technologies that they are improving the quality of life for users. This latest round of funding builds on the team’s success and we look forward to seeing the company grow as it accelerates product development. ”
Adapttech recently signed licensing agreements with Modus Health for its StepWatch software for step counting, the University of Washington for the Prosthetic User Mobility Survey (PLUS-M) Self-Reporting Tool, and Advanced Rehabilitation Therapy for predictors of amputee mobility (AMPPro / AMPnoPro). These industry measurement tools will be incorporated into future product designs and patient outcome models.
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Adapttech is a biomedical company focused on developing technologies that enable healthcare professionals to help people with physical limitations improve their quality of life. The company is supported by investors including MEIF Proof of Concept & Early Stage Fund, Midlands Engine Investment Fund, Bionova Capital, ACF Investors, Wealth Club and Wren Capital. www.adapttech.eu
T: +44 772 497 4255
AND: [email protected]
Adapttech secures £ 2.25m Series A investment from investors including Mercia Asset Management – UK Tech Investment News
Source link Adapttech secures £ 2.25m Series A investment from investors including Mercia Asset Management – UK Tech Investment News