Biomedical startup Adapttech, Birmingham, England, has raised $2.7 million in a new venture capital funding round. The company will use the funding to develop new technologies and grow sales of its system for improving the fitting of prosthetic devices.
“We’re delighted to have secured significant investment from both existing and new investors as we seek to drive sales of INSIGHT,” said Frederico Carpinteiro, the company’s founder. “The funding will also support our plans to develop and release new products, hire key personnel, and prepare our production processes for scale.”
INSIGHT combines a 3D scanner, sensors, wearable technology, and a mobile app for socket fitting and monitoring a patient’s rehabilitation process.
“This new funding is a significant milestone for Adapttech, as it represents the company’s transition from its development and testing phase into a fully commercial operation,” said Stuart Mead, Adapttech chairman.