The Development Bank of Wales provides equity and loan financing to support business growth and technological innovation across Wales.
The Caerphilly-based health technology firm has raised a funding package from Innovate UK and the Development Bank of Wales.
"Throughout my international practice in speech therapy, I have wanted to develop an innovative treatment that will help people communicate again after a stroke, brain injury, Parkinson’s or Dementia."
The Swansea-based sensor technology firm has raised six figures from the Development Bank of Wales to fund international expansion and workforce growth.
"The nature of our business means that we could have set it up anywhere in the world,"
The investment from the Development Bank of Wales and regional angels will fund platform development and customer acquisition.
"We are delighted to secure Development Bank of Wales as an investor. This investment will be used to develop our technology platform and recruit more customers to our service."
The funding was led by Andrew Diplock as the first deal for the Wales Angel Co-investment Fund.
"This is a show of faith from investors that this is a business that’s worth investing in, and they think it’s an exciting opportunity in a sector that’s growing fast."
The funding was led by the Development Bank of Wales to support the commercial launch of the Podium device.
"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."
