PhysioMedics secures £1.5m from Archangels and Scottish Enterprise to scale operations.
The funding round was led by Archangels to support international expansion and product development.
PhysioMedics provides a digital self-assessment platform for muscle and joint complaints. The company helps patients find appropriate care pathways without needing an initial clinical appointment.
Edinburgh-based PhysioMedics has secured £1.5m in equity and grant funding to scale its commercial operations and advance its product roadmap. The investment was backed by Archangels, Scottish Enterprise, and Innovate UK. The capital will support the company as it expands its footprint into international markets including India and Europe.
The firm develops PhysioWizard, a clinically validated online platform designed to triage muscle and joint conditions. Demand for digital triage tools has accelerated amid the shift toward hybrid working arrangements following the pandemic. Charles Sweeney leads the company as CEO following his appointment last year.
The latest injection of funds follows a sustained period of development for the platform. Archangels continues its longstanding backing of the business, alongside public sector support from Scottish Enterprise and Innovate UK.
Investor perspective
"In a post-pandemic world, web-based clinical triage is becoming an increasingly an important part of how healthcare is delivered in the UK and globally, providing a vital service and reducing the burden on healthcare teams. I have no doubt that the clinical depth of the PhysioWizard product, which has been developed over many years, will ensure that it becomes the leading digital triage solution not only in the UK but globally."
David Ovens
Joint MD, Archangels
Use of funds
- 01Expand into international markets
- 02Continue product development
Investors
Categories
About the company
PhysioMedics
PhysioMedics develops digital self-assessment tools for musculoskeletal health.