Birmingham and Porto-based biomedical startup Adapttech has raised £2.25 million from investors, including Mercia Asset Management, ACF Investors, Wren Capital and Wealth Club. The company has also rolled out a new range of products that will make it faster and easier to fit lower-limb prostheses and improve patient outcomes.
The extra cash will be used by the health tech platform to further develop smart, wearable technologies to help people with physical limitations improve their quality of life. The company had raised £2 million funding last year.
Focused on developing technologies that empower healthcare providers to help people with physical limitations to improve their quality of life, the startup combines 3D scanning with dynamic pressure data, providing time and cost-efficiency benefits to orthotics and prosthetics (O&P) clinics and their patients.
Commenting on the new funding, Frederico Carpinteiro, CEO, Adapttech, said: “With the new INSIGHT Range, we’re responding to requests for a scanner-less system, 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 trajectory in growing our revenues, product portfolio, and international operations.”
Paul Fauset, partner, ACF Investors added: “The unique IP at the heart of Adapttech’s products means there is a great opportunity for the company to become a leader in the orthotics and prosthetics industry, with smart technologies that 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 business grow as it accelerates product development.”