London-based GripAble, which affords a platform for digital neurological and musculoskeletal rehabilitation, raised $11 million in Collection A financing.
The spherical was led by IP Group and Parkwalk Advisors, bringing the startup’s complete increase to $17.5 million.
WHAT IT DOES
GripAble affords a handheld system that may be squeezed to evaluate grip power. It pairs with an app wherein customers can play video games to coach arm and hand capabilities. 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 give attention to Europe and the U.S. GripAble recently announced 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 stated in a press release.
“The brand new funding will speed up GripAble’s journey to delivering end-to-end affected person care and connecting hundreds of 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 medical and industrial proof base.”
One other firm that gives digital remedy for neurological situations is MindMaze, which makes video game-like instruments for remedy and evaluation of neurodegenerative illnesses and mind accidents. The startup introduced it had raised $105 million in financing in February, not lengthy after a $125 million round from October.
Digital musculoskeletal care and bodily remedy can also be a popular space for U.S. digital well being buyers. One main participant, Hinge Well being, raised two large funding rounds final yr, together with $600 million in new investments announced in late October.
SWORD Well being additionally raised a number of rounds final yr, together with a $163 million in Collection D plus $26 million secondary funding that bumped its valuation to $2 billion. The corporate lately expanded its line with a brand new product focused on female pelvic pain.