Digital healthcare startup GripAble has raised $11m (£8.4m) in a Series A funding round led by IP Group and Parkwalk Advisors.
London-based GripAble provides rehabilitation programmes for patients with both neurological and musculoskeletal conditions.
The startup provides digital, personalised therapy for use both in hospitals and at home and is focused on upper limb rehabilitation.
Its primary product is a handheld sensor that patients grip for assessment and recovery. The device is linked to an app containing training activities that track and collect data for tailored support.
Founded in 2017, GripAble currently says more than 8,000 people have used the platform to carry out a combined 100,000 activity sessions.
“Patients with physical and cognitive impairments require guided therapy to improve their quality of life,” said Dr Paul Rinne, GripAble co-founder and CEO.
“Simply put, the more rehab they do and the more they adhere to professional guidance, the greater their chances of having better outcomes, with a wealth of evidence backing this up.”
Rinne goes on to explain that the high cost of medical resources and poor quality of logistics in current healthcare systems means they “cannot deliver the amount of therapy needed, with significant backlogs, and few patients receiving anywhere near what they require to get better”.
Rinne said that the new funding will “accelerate GripAble’s journey to delivering end-to-end patient care and connecting millions to their own personal home-based clinic”.
The UK startup also has a significant presence in the US, where it partnered with medical equipment distributor Medline last month.
“We are hopeful that GripAble can reproduce its strong initial success in the UK in the significantly larger US market,” said Martin Glen, investment director at Parkwalk Advisors.
“This would enable many more patients to access the sustained level of rehabilitation therapy that they require for a positive outcome post-injury.”
The company was initially funded by the Imperial College Innovation Fund, managed by Parkwalk Advisors.
GripAble previously raised £1.6m in a seed funding round in March last year.
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