Hearing Diagnostics raises £1.1m from Archangels and Scottish Enterprise to expand market reach
The funding round was led by Archangels to support market entry for the company screening technology.
Share allotment filed at Companies House
Edinburgh-based healthtech developer of rapid screening technology for hearing loss.
Hearing Diagnostics has secured £1.1m in funding led by Archangels, with participation from Scottish Enterprise. The Edinburgh-based healthtech firm will use the capital to support its expansion into domestic and American markets.
Founded in 2017, the company developed the Audimetroid screening system, which allows hearing tests to be conducted in three minutes without a soundproof booth. The latest financing follows previous backing from Archangels, bringing its total investment in the business to £1.8m.
The company currently employs five people and plans to grow its team as it transitions from product development to commercial deployment across high street optical chains and audiology retailers.
From the founder
"Hearing loss usually advances slowly and unnoticeably and has severe consequences if left unmanaged. Our mission is to make reliable hearing testing accessible outside of specialist clinics to drive the early diagnosis of hearing loss and to ensure positive patient outcomes."
Claudia Freigang
Co-founder at Hearing Diagnostics
Investor perspective
"Claudia and Colin have built a truly ground-breaking and disruptive technological platform to tackle a global health issue. Hearing Diagnostics market approach with manufacturers and retailers can transform diagnostic pathways. We understood the potential commercial opportunity early in the development phase and we’re pleased to continue our support into the next chapter of Hearing Diagnostics."
Niki McKenzie
Joint Managing Director, Archangels
Use of funds
- 01Grow the team
- 02Expand into international markets
Investors
Categories
About the company
Hearing Diagnostics
Hearing Diagnostics builds rapid hearing screening technology for use by optical and audiology retailers.