Adapttech has raised nearly $2 million in new venture capital funding.
Adapttech is a biomedical startup located in Birmingham. It was established in 2015 by Frederico Carpinteiro and Mario Saenz Espinoza. The company focuses on developing such technologies which can boost the healthcare sector to help people with physical limitations to improve their quality of life through the use of innovative and smart wearable technologies.
A Step towards New Development
The funding round included the old investors, MEIF Proof of Concept, and Early Stage Fund. But the good news is that Adapttech also joined hands with new investors including ACF investor, Wealth Club, and Wren Capital.
The new funding will help to develop new products and speed up the sales of the company’s innovative INSIGHT system, which makes it easy to have a comfortably fitting prostheses socket and monitor the rehabilitation process of the patient. According to the Founder of Adapttech, Frederico Carpinteiro “We are pleased to have secured significant investment from both existing and new investors as we seek to drive sales of INSIGHT. The funding will also support our plans to develop and release new products, hire key personnel, and prepare our production processes for scale.”
INSIGHT is a system that combines a 3D scanner, sensor, wearable technology, and a mobile app. INSIGHT is now officially available, after the clinical trials in two prosthetic clinics in the United States. Adapttech’s Chairman, Stuart Mead, says,” 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. I’m delighted to say that there was strong interest from investors, both new and existing, and we’re looking forward to making the next year a landmark one for this company.”
Humans have aimed to develop solutions based on the latest discoveries and newest uses of technology. The experts work to apply practical innovations immediately, to make them simple and easy to adapt for common people. Innovation has ethical importance to provide real and effective aid to vulnerable people, including children, single women, and older people.
Good Luck, Adapttech!