£2.25m invested into biomedical technology for prosthetics patients
Biomedical startup Adapttech has raised £2.25m from investors including Mercia Asset Management, ACF Investors, Wren Capital and Wealth Club.
The new funding will be used by Birmingham-based Adapttech to develop smart, wearable technologies to helo people with physical limitations improve their quality of life.
It will combine 3D scanning with pressure data to provide time and cost-effective benefits to orthotic and prosthetics (O&P) clinics and their patients.
In addition, Adapttech has launched a new ‘INSIGHT Range’, a family of products that make it easier and faster to fit lower-limb prostheses.
Frederico Carpinteiro, the CEO of 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 business operations.”
The company’s flagship product, the ‘INSIGHT System’, has been upgraded with several new options including:
- INSIGHT Sense: an affordable, portable, and standalone real-time analysis pressure measurement system. It’s targeted at smaller O&P clinics to reduce hardware costs and help them provide house calls to remote patients.
- INSIGHT Digitizer: a standalone digitizer for prosthetic sockets that creates high-resolution 3D models. It’s targeted at central fabrication and large O&P clinic groups.
- INSIGHT Pro: combines both the INSIGHT Digitizer and INSIGHT Sense.
Paul Fauset, Partner at ACF Investors commented: “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.”
Adapttech recently signed licensing deals with Modus Health for its step-count software StepWatch. It has also signed deals with the University of Washington for the Prosthetic Limb Users Survey of Mobility (PLUS-M) self-reporting tool, and Advanced Rehabilitation Therapy for the Amputee Mobility Predictors (AMPPro / AMPnoPro). These industry measurement tools will be incorporated into future product designs and patient outcome models.