The funding was led by Andrew Diplock as the first deal for the Wales Angel Co-investment Fund.
"This is a show of faith from investors that this is a business that’s worth investing in, and they think it’s an exciting opportunity in a sector that’s growing fast."
The funding was led by the Development Bank of Wales to support the commercial launch of the Podium device.
"Detecting diabetic foot complications as early as possible is crucial as people with diabetes could suffer from a loss of feeling in their feet, which can lead to foot ulcers which increases the risk of amputation. Once a patient has received an amputation, their quality of life is impacted. More worryingly, life expectancy is 5 years post-amputation, on average."
A group of eight NorthInvest angels has backed the medical technology developer.
"Current treatments for these conditions require frequent hospitalisations for intravenous treatment with high doses of diuretics which is not only inconvenient for patients and associated with a risk of kidney injury but also costly. We offer a gentler, safer solution that can be delivered at home, offering patients better quality of life and reducing hospital admissions and costs to healthcare providers. This round of funding enables Renephra to carry out pilot clinical studies to demonstrate a viable success rate in target patients and to understand factors related to success. This is an essential next step for the company in advancing this much needed and promising technology through to regulatory approvals and making it available to clinicians and patients."