Prosthetics fitting specialist lands £2.25m funding boost

Biomedical start-up Adapttech has raised £2.25 million from buyers together with Mercia Asset Administration, ACF Buyers, Wren Capital and Wealth Membership.

The corporate, primarily based in Birmingham and Porto in Portugal, has additionally been supported by MEIF Proof of Idea early stage fund, Midlands Engine Funding Fund, and Bionova Capital.

Adapttech additionally introduced the launch of the brand new Perception Vary, a household of merchandise that make it quicker and simpler to suit lower-limb prostheses.

The corporate acknowledged it is going to use the funding to develop good, wearable applied sciences to assist folks with bodily limitations. Adapttech stated it’s the first firm to mix 3D scanning with dynamic strain information, offering time and value effectivity advantages to orthotics and prosthetics (O&P) clinics and their sufferers.

Frederico Carpinteiro, chief govt of Adapttech, commented: “With the brand new Perception vary, we’re responding to requests for a scanner-less system, diminished {hardware} prices, and improved information assortment. This new funding comes at a time after we are growing thrilling new applied sciences to profit our O&P clinic prospects and their sufferers. We look ahead to persevering with our trajectory in rising our revenues, product portfolio, and worldwide enterprise operations.”

Stephen Windsor, funding director at Mercia, added: “Adapttech introduced its first product to market throughout 2021, efficiently securing quite a few gross sales. We’re delighted to be supporting the group with a follow-on funding to proceed to scale the enterprise and construct out the product portfolio.”

Paul Fauset, accomplice at ACF Buyers commented: “The distinctive IP on the coronary heart of Adapttech’s merchandise means there’s a nice alternative for the corporate to develop into a frontrunner within the orthotics and prosthetics business, with good applied sciences which are bettering the standard of life for customers. This newest spherical of funding builds on the group’s success and we look ahead to seeing the enterprise develop because it accelerates product improvement.”

Date printed: April 6, 2022