GripAble, a London-based digital healthcare start-up delivering rehabilitation programmes to folks with neurological and musculoskeletal circumstances, has closed an $11 million Sequence A spherical led by IP Group, with equal funding from Parkwalk Advisors.
The fundraise brings the overall now raised to $17.5 million with $4 million raised in non-public funding and $2.5 million in authorities grants.
It will likely be used to increase GripAble’an information platform and remedy providers, notably in Europe and the US. It follows the group’s current partnership with medical gear distributor, Medline.
GripAble’s digital platform contains hand-held sensors, cellular {hardware}, software program, in-built gamification and information providers which allow home-based rehabilitation. To this point, greater than 8,000 people have already used the platform. GripAble has recorded 100,000 exercise periods and 27 million motion repetitions throughout its customers.
Dr Paul Rinne, GripAble co-founder and chief govt stated: “The brand new funding will speed up GripAble’s journey to delivering end-to-end affected person care and connecting hundreds of thousands to their very own private home-based clinic. We welcome IP Group and Parkwalk, who’ve a wealth of perception and expertise that may help us in rising our platform within the US market and allow us to increase our medical and industrial proof base.”
Dr Sam Williams, managing companion of Life Sciences at IP Group plc, added: “IP Group has had nice success within the digital remedy market with our funding in Hinge Well being and we see comparable potential in GripAble. We’re due to this fact delighted to be becoming a member of the corporate’s journey because it develops right into a fully-fledged industrial organisation.”
Martin Glen, funding director at Parkwalk Advisors, stated: “Parkwalk is worked up to be backing this breakthrough digital rehabilitation expertise because it grows and enters new markets. Specifically, we’re hopeful that GripAble can reproduce its sturdy preliminary success within the UK within the considerably bigger US market. This could allow many extra sufferers to entry the sustained degree of rehabilitation remedy that they require for a constructive consequence post-injury.
“GripAble was an early funding within the Parkwalk-managed Imperial Faculty Innovation Fund and is the second such firm to obtain additional funding from Parkwalk. It’s a reflection of the energy of Imperial Faculty’s analysis in STEM topics that this breakthrough expertise emerged from its labs.”
Date revealed: April 11, 2022
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