London-based GripAble, which affords a platform for digital neurological and musculoskeletal rehabilitation, raised $11 million in Sequence A financing.
The spherical was led by IP Group and Parkwalk Advisors, bringing the startup’s complete elevate to $17.5 million.
WHAT IT DOES
GripAble affords a handheld gadget that may be squeezed to evaluate grip energy. It pairs with an app through which customers can play video games to coach arm and hand features. The platform additionally permits sufferers to set objectives and monitor their progress.
The corporate plans to make use of the funding to broaden its platform in new markets, with a concentrate on Europe and the U.S. GripAble just lately introduced a distribution partnership with U.S.-based medical provide firm Medline.
“Sufferers with bodily and cognitive impairments require guided remedy to enhance their high quality of life. Merely put, the extra rehab they do, and the extra they adhere to skilled steering, the larger their possibilities of having higher outcomes, with a wealth of proof backing this up,” GripAble CEO and cofounder Dr. Paul Rinne mentioned in a press release.
“The brand new funding will speed up GripAble’s journey to delivering end-to-end affected person care and connecting thousands and thousands to their very own private home-based clinic. We welcome IP Group and Parkwalk, who’ve a wealth of perception and expertise that can assist us in rising our industry-leading platform within the U.S. market and allow us to broaden our scientific and industrial proof base.”
MARKET SNAPSHOT
One other firm that gives digital remedy for neurological circumstances is MindMaze, which makes video game-like instruments for remedy and evaluation of neurodegenerative ailments and mind accidents. The startup introduced it had raised $105 million in financing in February, not lengthy after a $125 million spherical from October.
Digital musculoskeletal care and bodily remedy can be a fashionable area for U.S. digital well being buyers. One main participant, Hinge Well being, raised two massive funding rounds final 12 months, together with $600 million in new investments introduced in late October.
SWORD Well being additionally raised a number of rounds final 12 months, together with a $163 million in Sequence D plus $26 million secondary funding that bumped its valuation to $2 billion. The corporate just lately expanded its line with a brand new product targeted on feminine pelvic ache.
