Adapttech in €2.3M UK investor round

 In News, Start-Up, Technology

The Portuguese venture capital company Bionova Capital, which specialises in the health area, has announced that the startup Adapttech which is in its investment portfolio, has achieved a fresh capital round of €2.3 million.

The VC also announced that in addition to its own participation in the round for Adapttech, other investors from the UK were also involved: Mercia Asset Management, Angel CoFund, Wealth Club and Wren Capital.
“Adapttech will use this investment to develop new products and to boost sales of its INSIGHT system internationally. INSIGHT is a new medical device that enables improvements to adapting prosthetics for leg amputees,” states Bionova Capital in a communiqué.
The INSIGHT system combines a 3D scanner, sensors, wearable technology and a mobile application. This enables a correct fit of the leg prosthetics to the residual stump as well as monitoring the rehabilitation process of these patients.
The system became available worldwide after the successful conclusion of various clinical studies using prosthetics in the US where its effectiveness was confirmed.
“We are very satisfied that we have been able to obtain significant investment from our existing investors and new investors which has permitted us to boost sales of the INSIGHT system,” said Frederico Carpinteiro, CEO of Adapttech.
“This financing will also enable us to develop and launch new products, contract new team members and increase our production processes globally,” he added.
In 2016, Bionova Capital provided the initial capital for Adapttech and up until 2018 was its sole investor.
“We were the first to recognise the innovative potential of Adapttech’s technology to improve the adjustment process of prosthetics. We’ve been working from the very start with its team to help bring this technology to market, including drawing up its patent applications and improving the product’s engineering,” explained Peter Villax, Chairman of Bionova Capital.