GripAble raises £8.4m Series A funding led by IP Group to expand platform capabilities
The digital healthcare start-up secured backing from IP Group and Parkwalk Advisors to scale operations in Europe and the US.
GripAble develops digital healthcare technology that provides rehabilitation programmes for individuals with neurological and musculoskeletal conditions. The firm combines handheld sensors with interactive software to facilitate home-based physical and cognitive therapy.
London-based digital healthcare start-up GripAble has raised £8.4m in a Series A funding round led by IP Group, with participation from Parkwalk Advisors. The capital will be deployed to expand the company data platform and therapy services, with particular emphasis on scaling its presence in European and American markets.
The raise follows a period of commercial momentum for GripAble, which includes distribution partnerships in the US and adoption across the UK health sector. The firm platform combines bespoke hardware sensors with gamified software to support remote rehabilitation and increase patient adherence.
IP Group returns to back the company alongside Parkwalk Advisors, drawing on previous sector experience in digital therapeutics. The funds will help accelerate the firm journey toward providing comprehensive home-based care solutions for patients globally.
From the founder
"However, due to resource costs and poor logistics, current health systems cannot deliver the amount of therapy needed, with significant backlogs, and few patients receiving anywhere near what they require to get better. This is a common problem faced by hundreds of millions of patients around the world, with inefficient care pathways not only costing health systems hundreds of billions of dollars every year, but costing people a chance to live their lives to their full potential."
Paul Rinne
CEO at GripAble
Investor perspective
"IP Group has had great success in the digital therapy market with our investment in Hinge Health and we see similar potential in GripAble. We’re therefore delighted to be joining the company’s journey as it develops into a fully-fledged commercial organisation."
Sam Williams
Managing Partner of Life Sciences, IP Group
Use of funds
- 01Expand into international markets
- 02Continue product development
