Rescape Innovation secures £480k for virtual reality healthcare technology.
The funding round was led by Andrew Diplock alongside the Development Bank of Wales.
Rescape Innovation develops virtual reality technology designed to help patients manage pain, rehabilitation, and anxiety.
Rescape Innovation has secured £480k in a funding round led by angel investor Andrew Diplock alongside the Development Bank of Wales and Angels Invest Wales. The capital will enable the Cardiff-based company to invest in new technology, develop products, and expand its export capabilities.
The investment brings together ten high-profile angel backers and includes match funding from the Wales Angel Co-investment Fund. Rescape uses immersive virtual reality to provide distraction therapy for pain management and patient rehabilitation across healthcare institutions.
From the founder
"This investment opens up an exciting new chapter for Rescape and puts us in the best position to expand our product offering to offer patients support through proven techniques like distraction therapy. There are so many factors in establishing a quality tech product but thanks to the support we’ve received from Andrew Diplock, the other angel investors and Development Bank of Wales, we’re not only leading VR innovation in Wales, but across the UK and the world. We’re proud to have started our business here in Wales and with the brilliant talent, infrastructure and support system, we’re able to grow and develop our products here too."
Matt Wordley
Chief Executive at Rescape Innovation
Investor perspective
"The future is exciting for Rescape and with the new funding, the business will be able to make the right investment at the right time with innovative technology in the developing healthcare sector. I was pleased to be able to introduce this South Wales based business to a group of leading and experienced businesspeople– they all agreed to back the exciting future development of this company. I focus my investment activity on high growth potential South Wales-based businesses. Rescape Innovation certainly fits the bill and I look forward to working with the management team in the years to come."
Andrew Diplock
Lead Investor, Andrew Diplock
Use of funds
- 01Continue product development
- 02Expand into international markets
Investors
Andrew Diplock
Andrew Diplock
Development Bank of Wales
Steve Holt
Angels Invest Wales
Wales Angel Co-investment Fund
Categories
About the company
Rescape Innovation
Virtual reality technology for patient rehabilitation and pain relief.