GripAble, a digital therapy and rehabilitation platform developed by clinicians at Imperial College Healthcare NHS Trust and researchers from Imperial College London, has secured £8.6 million ($11 million) of investment.
The assessment and training platform – funded by intellectual property company, the IP Group, with equal investment from investment management firm, Parkwalk Advisors – provides support for individuals undergoing rehabilitation for both neurological and musculoskeletal conditions.
With the new investment, the GripAble team aims to ‘expand their mission’ towards developing accessible care approaches for all, while delivering ‘high volumes’ of personalised and ‘efficient’ therapy from the hospital to home setting.
Dr Paul Bentley, Clinical Director of the Imperial College Network of Excellence in Rehabilitation Technology, said of the new investment: “In just over five years GripAble has rocketed from being a laboratory design concept to an actual therapeutic used in hundreds of centres globally.
“This is a paragon of translational research and made possible by inter-disciplinary collaborations between engineering and medicine; highly motivated junior researchers (who now run the company); and thanks to Imperial College seed funding from the Sir Leon Bagrit Memorial Trust and the Imperial Enterprise Division. This new funding will allow GripAble to expand its reach so that more people will be able to access and benefit this technology.”
Martin Glen, Investment Director, Parkwalk Advisors, added: “Parkwalk is excited to be backing this breakthrough digital rehabilitation technology as it grows and enters new markets. In particular, we are hopeful that GripAble can reproduce its strong initial success in the UK in the significantly larger US market. This would enable many more patients to access the sustained level of rehabilitation therapy that they require for a positive outcome post-injury.”
In other funding-related news, Lantum has raised £11.4 million ($15m) in funding led by Finch Capital and other participants to help accelerate the company’s growth plans.
