Foresight Group led the £1.3m investment to fund sales, marketing, and clinical trials.
"We have been impressed by the rapid progress FFL has made since launch of the second-generation OvuSense product with strong sales traction in the US and UK. FFL is a well-run business that has developed an innovative, clinically supported and IP rich product in OvuSense. We are looking forward to working alongside Rob Milnes and the wider management team on the next stage of the Company’s growth."
The investment was led by Williams Foresight and Ananda Ventures to scale production and support international expansion.
"We’re exceptionally excited to receive this support from such high calibre investors who offer not only financial backing but incredible experience in commercialisation, measuring impact and engineering high performance hardware. This funding enables us to serve multiple international markets and we’re thrilled to be heading to the US later this year."
The investment marks the second time the company has backed by the Henley network.
"This is the second time we’ve worked with HBA to support our fundraising, both times very successfully. As we push the commercialisation of our meters, the ongoing support of our investor network is invaluable."
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."