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Home Local News

Birmingham biomedical firm Adapttech secures £2m funding round

Genesis Radio by Genesis Radio
29 March 2021
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Birmingham biomedical firm Adapttech secures £2m funding round
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Biomedical startup Adapttech has raised £2 million in a new venture capital funding.

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The company, which is based at the Institute of Translational Medicine in Edgbaston, will use the new finance for product developments and to drive sales of its ‘Insight’ system which it says makes it easier to fit lower-limb prostheses and monitor rehabilitation.

The system combines a 3D scanner, sensors, wearable technology and a mobile app to make it faster and easier to reach a comfortably fitting prostheses socket.

This funding round was supported by a mix of mew amd existing investors including the Midlands Engine Investment Fund, Bionova Capital, ACF Investors, Wealth Club and Wren Capital.

The Birmingham Post Business Awards are back for 2021 and now open for entries here. The event will be held online only on Tuesday June 15 and will celebrate businesses and individuals across 12 categories including our overall Company of the Year and a special covid award.

The deadline to enter the awards is Monday April 19 and sponsorship opportunities are also now available. Please email [email protected] for details and follow the hashtag #BPBAwards for updates on social media.

The ceremony will be hosted on our new virtual events platform The Awards Room which gives nominees and sponsors the chance to experience real-time networking and hear from speakers.

All of your attendees will be placed together on your own table and you can invite people from outside your group to join you during the event.

Your table will also have private chat, allowing you to communicate with your colleagues during the awards. For more information about our Business Awards and events please visit www.reachplcevents.com.

Adapttech’s founder Frederico Carpinteiro said: “We’re delighted to have secured significant investment from both existing and new investors as we seek to drive sales of Insight.

“The funding will also support our plans to develop and release new products, hire key personnel, and prepare our production processes for scale.”

Chairman Stuart Mead added: “This new funding is a significant milestone for Adapttech as it represents the company’s transition from its development and testing phase into a fully commercial operation.

“I’m delighted to say that there was strong interest from investors, both new and existing, and we’re looking forward to making the next year a landmark one for this company.”



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