Adapttech, a Birmingham, UK-based biomedical startup, raised £1.3m in funding.
– the MEIF Proof of Concept & Early Stage Fund, managed by Mercia and part of the Midlands Engine Investment Fund (£250k)
– Mercia’s EIS funds (£500k),
– Hovione Capital, and
– private investors.
The company, which recently moved its headquarters from Portugal to the Institute of Translational Medicine (ITM) in Birmingham, will use the funds to finalize clinical trials and commercialize the product.
Founded in 2015 by biomedical engineers Frederico Carpinteiro and Mario Espinoza, Adapttech is a biomedical company with new technology to fit artificial limbs. Its INSIGHT™ tool offers a way to fit lower-limb prostheses and monitor patients’ rehabilitation. It consists of:
– a scanner which creates a 3D model of the prosthesis socket,
– a wearable device which fits between the residual limb and the prosthesis and gathers data to pinpoint problem areas where the socket may need adjusting, and
– an app, through which healthcare professionals can access the results.