Thermetrix secures £500k to develop its thermal imaging footcare device for diabetes patients.
The funding was led by the Development Bank of Wales to support the commercial launch of the Podium device.
Thermetrix is a medical technology company that develops thermal imaging solutions for preventative healthcare.
Thermetrix has secured £500k in funding to advance its thermal imaging system designed for diabetic footcare. The round includes a £200k seed investment from the Development Bank of Wales via the Wales Technology Seed Fund, alongside contributions from business angels and corporate backers.
The capital will support the commercial launch of Podium, a device enabling patients to capture daily thermal images of their feet and share them with medical professionals through a cloud dashboard. The technology aims to facilitate early intervention and reduce the incidence of severe foot complications among diabetes patients.
Founded in 2018, the company intends to target both home users and medical practitioners such as podiatrists and nursing homes. The funding arrives as the prevalence of diabetes continues to climb globally, presenting ongoing clinical and economic challenges for healthcare systems.
From the founder
"Detecting diabetic foot complications as early as possible is crucial as people with diabetes could suffer from a loss of feeling in their feet, which can lead to foot ulcers which increases the risk of amputation. Once a patient has received an amputation, their quality of life is impacted. More worryingly, life expectancy is 5 years post-amputation, on average."
Peter Plassmann
Co-CEO and Founder at Thermetrix
Investor perspective
"For diabetes patients, this is an exciting and easy to use product that has the potential to provide early detection of foot complications which could lead to fewer amputations and improve treatment."
Sarah Smith
technology ventures team, Development Bank of Wales
Use of funds
- 01Continue product development
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About the company
Thermetrix
Thermetrix develops a thermal imaging device to detect diabetic foot complications early.