GyroGear raises £3.1m in seed funding led by Foxconn Technology Group
Foxconn Technology Group led the initial phase of the seed fundraise, which will finance clinical trials and regulatory approval.
GyroGear is a neuromuscular medical device company that develops wearable technology to mitigate hand tremors and restore functional independence. The firm is headquartered in London and Singapore.
GyroGear has secured £3.1m in the first phase of its seed round, led by Foxconn Technology Group with an initial £1m contribution. Additional backing for the ongoing raise came from the UK Government Future Fund, Fidelium Group, and various strategic investors. The capital will support clinical trials, regulatory approvals, and further research and development as the company prepares its flagship device for international release.
The funding follows years of development on the GyroGlove, a wearable medical product designed to counteract tremors using aerospace technology. Phase two of the current investment cycle is scheduled for completion in March 2021.
Use of funds
- 01Fund research and development
