3 October 2024

Kaydiar secures £1.2m from institutional and angel investors to advance footcare technology.

The funding round combines backing from the Development Bank of Wales and Women Angels of Wales with grant support.

£1.2M

Kaydiar is a Welsh medical technology spin-out that develops customisable footcare products using advanced mesh designs. The company aims to improve patient outcomes for individuals suffering from diabetic foot ulcers and pressure sores.

Kaydiar has secured £1.2m in a funding round involving equity and grant capital to support its podiatry products. The Development Bank of Wales provided £200k, alongside investments from Women Angels of Wales, the Angel Co-Investment Fund, and The University of Wales Trinity St David. Additional financial backing included a £450k smart grant from Innovate UK and £200k from the Welsh Government.

The capital will support the company as it markets its DiaSole and ZeroSole products and advances its pipeline of orthotic technologies. The enterprise originated as a spin-out from Cardiff Metropolitan University and focuses on mitigating pressure lesions and foot ulcers.

From the founder

"Heather and I are absolutely thrilled to have gained the support from The Development Bank of Wales, Women Angels of Wales, University of Wales Trinity St David, Innovate UK and the Welsh Government. This is a pivotal time for Kaydiar, as we launch ZeroSole online and through large retailers such as Boots, whilst continuing to innovate new disruptive offloading technology for the podiatry and orthotic markets."

David Barton

Podiatrist at Kaydiar

Investor perspective

"We’re working hard to encourage more women to get involved with angel investing. Our support for Kaydiar is a great example of bringing together grant, angel and institutional funding to provide the resources to support the development of an innovative, early-stage company in Wales. Our syndicate is delighted to support Heather Smart and David Barton, two young podiatrists who are applying new technologies to improve patient outcomes in the footcare sector. We all look forward to working with Kaydiar to build a world class company."

Sharon Pipe

Women Angels of Wales