GripAble secures 1.6m pounds in pre series A funding from Triple Point Ventures to scale its remote rehabilitation platform.
Triple Point Ventures led the pre-series A round, which will help expand the company's platform across the UK and Europe.
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 start-up GripAble has secured 1.6m pounds in pre-series A funding to scale its remote rehabilitation platform. The investment round was led by Triple Point Ventures, with additional participation from the Oxford Technology Fund and Imperial College Innovation Fund. The capital will support the company as it expands its assessment and training platform across the UK and Europe while preparing for a US launch.
The financing serves as a prelude to GripAble's forthcoming Series A fundraise, which is scheduled to close in the third quarter of 2021. The firm has deployed nearly 1,000 units over the past six months and aims to provide therapists with empirical data on patient outcomes and adherence to prescribed care programmes.
From the founder
"At GripAble, we know this market better than anyone and understand that any solution must be therapist driven and must allow them to engage and empower their patients to self-manage beyond standard therapy hours. This need for remote therapy has been greatly accelerated by COVID-19."
Paul Rinne
CEO at GripAble
Investor perspective
"GripAble’s progress to date demonstrates the considerable patient benefits achievable through academic entrepreneurship. GripAble’s driven leadership team have developed great technology and worked closely with healthcare providers and patients to bring to market an innovative solution for an acute unmet need. We are excited to support the company through scale-up and their forthcoming US launch."
Brijesh Roy
Investment Manager, Mercia Fund Management
Use of funds
- 01Expand into international markets
- 02Continue product development
